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Global Power Electronics Market (2021 to 2026) - Growth, Trends, COVID-19 Impact and Forecasts -

December 29, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Dec 29, 2021--

The “Power Electronics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)” report has been added to’s offering.

The power electronics market is anticipated to witness a CAGR of 4.62% over the forecast period (2021 - 2026).

Companies Mentioned

  • ON Semiconductor Corporation
  • ABB Ltd.
  • Infineon Technologies AG
  • Texas instruments Inc.
  • ROHM Co. Ltd
  • ST Microelectronics NV
  • Renesas electronic corporation
  • Vishay Intertechnologies Inc.
  • Toshiba Corporation
  • Mitsubishi Electric Corporation


Key Market Trends

Aerospace and Defence to Hold Major Market Share


  • The aerospace and defense (A&D) sector is witnessing the ongoing struggle to reduce size, weight, power, and cost, while at the same time increasing command, communications, intelligence, and surveillance capabilities. This is forcing the A&D organizations to invest in solutions with ever-increasing power densities and capabilities.
  • In the sector, power electronics products are adopted for a vast range of applications, like power drive controls, landing gear, and defensive aids systems (DAS) engine systems and controls, flight control, navigation, cabin lighting, avionics, and communications, among others. For instance, signal processing for modern military radars, avionics, weapon systems, unmanned aerial vehicle (UAV) payloads, and missile controls use processing power that emits tremendous amounts of heat. Efficient power electronics help to reduce heat and improve performance
  • Many market vendors are offering products specific to the A&D industry. For instance, in January 2020, the US-based Solid State Devices Inc. launched the SFC35N120 1200-volt silicon carbide (SiC) power MOSFETs for high-reliability aerospace and defense power electronics applications, like PFC boost converters and high-voltage DC-DC converters.
  • Furthermore, the aviation industry is leveraging the potential benefits of SiC with an impact on all areas of the power supply system. The EU-funded MuSiCA project, which started in September 2020, aims to support the adoption of new silicon carbide devices in aerospace applications, enabling smaller and lighter power converters for more electric aircraft while helping reduce fuel consumption and carbon emissions.
  • As the entry of private aerospace companies becomes common, there is a growing demand for varied semiconductor devices. SpaceX, Blue Origin, and Virgin Galactic orient their companies for different verticals within the industry, requiring different power electronic components. Such trends are expected to drive the growth of the market studied during the forecast period.

Asia Pacific is Expected to Record Significant Growth Over the Forecast Period

  • The Asia Pacific is one of the major investors and adopters of the studied market, as many of the countries in the region are increasingly investing in the semiconductor industry. The region’s semiconductor industry is driven by China, Japan, Taiwan, and South Korea, which together constitute around 65% of the global discrete semiconductor market, while others, like Vietnam, Thailand, Malaysia, and Singapore, also contribute significantly to the region’s dominance in the market.
  • The technology boom is powering Asia’s economies. Explosive growth in new-era gadgets such as wearable devices and internet-linked connected appliances stoking fresh demand for components such as semiconductors and displays. India, Singapore, South Korea, and Taiwan would be among the economies expected to benefit most
  • The vendors of power electronics in the region are highly involved in EV automotive, consumer electronics, and the power and energy industry. As the region is the largest producer and consumer of electronic gadgets, the region offers a great opportunity.
  • The growth in electric vehicles market is encouraging various global players to expand in this region. For instance, in July 2020, Delphi Technologies PLC reinforced its position in vehicle electrification by securing a new power electronics business wins in the second quarter of 2020, with three market-leading Chinese Original Equipment Manufacturers (OEMs). The company has already built and launched a new manufacturing site in Suzhou, China, less than 18 months ago.
  • Additionally, the region is also witnessing the increasing development of data centers. The regional governments are also playing a significant role in the studied market developments. For instance, according to the Ministry of Electronics and Information Technology, the Indian government is also working on policies to develop a semiconductor and power electronic components manufacturing base in the country.

Key Topics Covered:





4.1 Market Overview

4.2 Industry Attractiveness - Porter’s Five Force Analysis

4.3 Assessment of COVID -19 impact on the Industry

4.4 Technology Snapshot

4.4.1 Power Generation and Storage

4.4.2 Sensing and Measurement

4.4.3 Power Management and Distribution

4.4.4 Other Functions


5.1 Market Drivers

5.1.1 Rising Demand for High-energy and Power-efficient Devices in the Electronics Segment

5.1.2 Demand for Green Energy Power Generation Drives

5.2 Market Restraints

5.2.1 Rising Demand for Integrated Circuits


6.1 By Component

6.2 By Material

6.3 By End User Industry

6.4 By Geography




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SOURCE: Research and Markets

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PUB: 12/29/2021 12:23 PM/DISC: 12/29/2021 12:23 PM