Power Electronics Market Size Overview by 2024 – Asia Pacific to Emerge As Strong Regional Contender

The Asia Pacific region is anticipated to be one of the most lucrative territory for power electronics market, given the wide-ranging deployment of the products across a multitude of business verticals. The economic boom in the region has resulted in increased disposable income in the middle-class households which has enabled them to purchase a greater amount of luxury electronic goods and systems. To add to it, the power losses and consistent current fluctuations, especially in manufacturing and industrial sectors of the region, have necessitated the deployment of power electronics systems such as UPS, inverters, and power regulators.

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Smart grids usage impacts the growth of the power electronics market. These systems have high penetration owing to their ability to utilize control systems and digital communications to monitor and control power flows to make the power grid efficient and cost-effective. The applications of power electronics industry in smart grids are in the form of thyristors, AC/DC and DC/DC converters, and LED systems.

Segmentation of the power electronics market by module products is anticipated to experience substantial growth. As the demand for smartphone and handheld, battery devices is anticipated to increase, the demand for these systems is projected to be propelled as a consequence. The demand for the discrete products segment is projected to experience high growth during the forecast timeframe. An increasing number of appliances use auto jumper cables, in which this component is a pre-requisite for the prevention of sparks and electric shocks for destroying the device or causing injury to human life.

The high focus on the adoption of EVs is contributing to the high growth of the power electronics market in this segment as they aid in combating issues related to the high particulate matter and greenhouse gases. To facilitate this demand various economies such as China are increasing their expenditure on the development of charging stations. To raise the level of electro-mobility acceptance, the country has initiated the construction and operation of charging stations along their eight prime highways, for instance the connection route between Shanghai and Beijing, that encounter the highest amount of traffic. The country is anticipating that 10,000 charging stations with 120,000 charging points will be active by 2020 and has made an investment of USD 700 million to streamline this initiative providing a very high potential to the growth of the power electronics market.

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Power electronics market players include ENERCON, NXP Semiconductor N.V., Mitsubishi Electric, Infineon Technologies, Microsemi Corporation, Texas Instruments Incorporated, Renesas Electronics Corporation, ON Semiconductor, and Semikron Electronics GmbH & Co., Inc. The power electronics market comprises of a large number of players owing to which companies are required to undertake business strategies such as mergers and acquisitions and product launches to sustain growth. For instance, in July 2016, STMicrolectronics announced the acquisition of AMS’ assets for the expansion of their NFC and RFID reader offerings to their customers.

Major Key Points from Table of Content:

Chapter 4.   Power Electronics Market, By Product

4.1.  Power electronics industry share by product, 2016 2024

4.2.  Discrete

4.2.1. Market estimates and forecasts, 2013 – 2024

4.3.  Module

4.3.1. Market estimates and forecasts, 2013 – 2024

4.4.  IC

4.4.1. Market estimates and forecasts, 2013 – 2024

Chapter 5.   Power Electronics Market, By Application

5.1.  Power electronics industry share by application, 2016 2024

5.2.  Automotive

5.2.1. Market estimates and forecasts, 2013 – 2024

5.3.  Consumer electronics

5.3.1. Market estimates and forecasts, 2013 – 2024

5.4.  ICT

5.4.1. Market estimates and forecasts, 2013 – 2024

5.5.  Industrial

5.5.1. Market estimates and forecasts, 2013 – 2024

5.6.  Aerospace defense

5.6.1. Market estimates and forecasts, 2013 – 2024

5.7.  Others

5.7.1. Market estimates and forecasts, 2013 – 2024

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