Power Electronics Market
As per Meticulous Researchu00ae, the power electronics market is on track to grow to $59.7 billion by 2031, with an expected CAGR of 4.9% from 2024.n
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
E N D
Presentation Transcript
How Will Sustainability Efforts Shape the Power Electronics Market to Be Worth Above $59.7 Billion by 2031?
Power Electronics Market- 2024-2031 A recent report from Meticulous Research indicates that the power electronics market will surpass $59.7 billion by 2031, with a CAGR of 4.9% from 2024 to 2031. This market growth is driven by increasing demand in consumer electronics, renewable energy investments, and the adoption of power electronics in LED lighting and automotive sectors. Request For Sample Report: https://www.meticulousresearch.com/download-sample- report/cp_id=5852? Challenges to Growth While the growth prospects are promising, the market faces challenges, including complex design and integration processes, as well as issues related to heat dissipation during switching operations. Segmentation of the Market The power electronics market is categorized into various segments, including product type, application, and end-use industry, with additional analysis of regional and competitor dynamics. Dominance of Power ICs Among product types, power ICs are projected to dominate the market in 2024. Their prevalence is attributed to rising demands in IoT, wearables, and automotive applications, which require efficient power management. The launch of innovative products, like the nPM1300 by Nordic Semiconductor, reflects this trend. Growth of Power Modules The power modules segment is expected to grow at the highest CAGR, driven by increasing applications in electric vehicles and appliances requiring efficient current and voltage control. Application Breakdown The power electronics market applications include power generation, transmission, distribution, and control. The power control segment is anticipated to hold the largest market share in 2024, thanks to its critical role in regulating current flow for optimal device performance. Innovative Developments Market players are focusing on innovation to enhance power control devices. For example, Magnachip Semiconductor introduced a PMIC that can manage various functions for IT devices, indicating ongoing advancements in the sector. End-Use Industry Dynamics The market spans several industries, with consumer electronics expected to account for the largest share in 2024. The rising demand for efficient voltage regulation in devices like computers and appliances is a key driver. Automotive Growth Trends Conversely, the automotive sector is set to achieve the highest CAGR, spurred by the growing prevalence of electric vehicles and the need for power electronics in various automotive applications. Page 1 of 2 Meticulous Research| sales@meticulousresearch.com
Power Electronics Market- 2024-2031 Regional Insights Asia-Pacific is expected to lead the market in 2024, driven by a demand for energy-efficient hybrid electric vehicles and a strong presence of major power electronics companies. Future Projections This region is also poised for significant growth, fueled by government investments in renewable energy and the commitment of companies like Renesas Electronics to develop innovative power solutions. Leading Companies in the Market Key players shaping the power electronics market include ON Semiconductor Corporation, ABB Ltd., Infineon Technologies AG, Texas Instruments, ROHM Co. Ltd, STMicroelectronics, Renesas Electronics Corporation, Vishay Intertechnology Inc., Toshiba Corporation, Mitsubishi Electric Corporation, Analog Devices Inc., TDK Corporation, Murata Manufacturing, Fuji Electric, and NXP Semiconductors. Buy Now: https://www.meticulousresearch.com/Checkout/55608036? About Meticulous Research Meticulous Research was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to detail. With meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Contact Us: Meticulous Research Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research Page 2 of 2 Meticulous Research| sales@meticulousresearch.com
