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.
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The extensive popularity of this business space can be attributed to its massive deployment across the automotive, industrial, consumer electronics, defense, aerospace, renewable energy systems, and ICT sectors. Furthermore, the competitive spectrum of power electronics market has been witnessing the unveiling of exceptional and innovative products equipped with emerging technologies, specifically developed for particular end-use disciplines. The upcoming market players have been vying with the existing leading firms to build a robust presence in the industry.
Concurrently, the ever-growing governmental thrust across various nations to adopt renewable power sources in residential and industrial sectors to reduce air pollution, lower particulate matter, slash CO2 emissions and suppress the fossil fuel depletion, has had a favorable impact on power electronics market growth. To cite an instance, the Indian government under its Jawaharlal Nehru National Solar Mission has resolved to attain an ambitious solar power capacity of 100 GW through rooftop and large-scale grid-connected solar power projects by 2022. Undoubtedly, these humongous projects would require AC/DC converters and switching systems to work seamlessly, which would, in turn, boost the expansion of power electronics market size.
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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 market in smart grids are in the form of thyristors, AC/DC and DC/DC converters, and LED systems.
Some Point from Table of Contents:
Chapter 4. Power Electronics Market, By Product
4.1. Power electronics market share by product, 2016 2024
4.2.1. Market estimates and forecasts, 2013 – 2024
4.3.1. Market estimates and forecasts, 2013 – 2024
4.4.1. Market estimates and forecasts, 2013 – 2024
Chapter 5. Power Electronics Market, By Application
5.1. Power electronics market share by application, 2016 2024
5.2.1. Market estimates and forecasts, 2013 – 2024
5.3. Consumer electronics
5.3.1. Market estimates and forecasts, 2013 – 2024
5.4.1. Market estimates and forecasts, 2013 – 2024
5.5.1. Market estimates and forecasts, 2013 – 2024
5.6. Aerospace defense
5.6.1. Market estimates and forecasts, 2013 – 2024
5.7.1. Market estimates and forecasts, 2013 – 2024
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