Power Electronics Market Statistics 2021 | Trend & Growth Forecast To 2027

1. Power Electronics Market is projected to reach at a CAGR 6.5% by 2027

2. Key Insights from Power Electronics Market: • Considering an instance of product launch, in December 2019, ON semiconductor unveiled first two devices from the company’s state-of-the-art VE-Trac power modules family. These two PIM (power integrated module) devices bring the best-in-class thermal and electrical performance, delivering automotive reliability and scalability to the rapidly expanding traction inverters market. • Numerous power electronics devices comprise power switches, MOSFETs, power modules, PMICs, IGBTs, and others. These are heavily integrated into motor drives, automotive power train systems, as well as battery management units in electric vehicles and other applications.

3. Continued… • Considering an instance of product launch, in December 2019, ON semiconductor unveiled first two devices from the company’s state-of-the-art VE-Trac power modules family. These two PIM (power integrated module) devices bring the best-in-class thermal and electrical performance, delivering automotive reliability and scalability to the rapidly expanding traction inverters market. • The industrial application segment captured more than 25 percent of the total industry value in 2020 and is estimated to depict a remarkable CAGR over the assessment span. This rise is due to the increasing adoption of automation and robotics across process and manufacturing industries. Industrial robots are combined with numerous parts such as robot arms, motor drives, controllers, as well as servo motors. According to the World Robotics report of 2019, around 422,271 robot units were installed at the global level with a 6 percent year-on-year growth as compared to 2018.

4. Regional Insights in Power Electronics Market: • The escalating adoption of electric vehicles across various regions comprising the Asia Pacific and North America is poised to impel power electronics market expansion through the coming years. • The Europe power electronics industry accounted for a valuation of over USD 4 billion in 2020 and is expected to exhibit a substantial CAGR of 4.5% through 2027. This growth is attributed to the escalating usage of EV charging stations in European countries comprising France, the UK, Germany, Spain, and Italy. • As per the Government of UK’s Department for Transport, January 2021 registered 20,775 public electric vehicle charging devices in the United Kingdom of which almost 3,880 were rapid charging devices. These rapid EV charging stations and battery-power establishments are some of the prominent power electronics applications in the region. The rising penetration of electric vehicles and EV charging stations in the United Kingdom is expected to drive power electronics industry outlook through 2027.

5. Latest Research Report On Power Electronics Market @ https://www.gminsights.com/industry-analysis/power-electronics-market Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/1355

6. Major Companies in Power Electronics Market: • Fuji Electric Co. Ltd. • STMicroelectronics N.V. • TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION • Texas Instruments Incorporated • NXP Semiconductors • Infineon Technologies AG • others

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