At 2.8% CAGR, South & Central America Power Electronics Market is Projected to be Worth US$ 3,087.39 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the South & Central America power electronics market was valued at US$ 2,468.17 million in 2022 and is expected to reach US$ 3,087.39 million by 2030, registering a CAGR of 2.8% from 2022 to 2030. Growing adoption of smart grid technology and increasing demand for AI-based power electronics are among the critical factors attributed to drive the South & Central America power electronics market growth.

The smart grid can help transform the topology and power system operation of electrical networks. Power electronics are used to control the flow of power in the smart grid to ensure the reliability as well as stability of the smart grids by allowing for more effective and efficient energy management. Various power electronic devices such as metal oxide silicon field effect transistors (MOSFET), insulated gate bipolar junction transistors (IGBT), triode as an AC switch (TRIAC), gate turn off thyristor (GTO), and integrated gate commutated thyristors (IGCT), among others, has a high voltage handling and high current carrying capacity. These power electronics have higher switching frequencies, which is beneficial in the conversion of voltage magnitude and frequency control by allowing control of power flow; it also increases its implementation in smart grids. Government investment in microgrid projects, infrastructure, and power generation is on the rise. For instance, the International Renewable Energy Agency (IRENA) in the US plans to invest US$ 52 billion annually in infrastructure and power generation to provide electricity for everyone by 2030. This investment equals 3.4% of the average annual global energy sector investment. The expansion of the power generation industry increased the demand for power electronics for controlling power flow.

On the flip side, complexities associated with product design and integration hampers the growth of South & Central America power electronics market.

Based on type, the South & Central America power electronics market is categorized into power discrete, power module, and power IC. The power module segment held 49.3% market share in 2022, amassing US$ 1,215.60 million. It is projected to garner US$ 1,605.65 million by 2030 to register 3.5% CAGR during 2022-2030.

In terms of material, the South & Central America power electronics market is segmented into Silicon (SI), Silicon Carbide (SIC), Gallium Nitride (GAN), and others. The Silicon (SI) devices segment held 88.3% share of South & Central America power electronics market in 2022, amassing US$ 2,170.61 million. It is anticipated to garner US$ 2,723.40 million by 2030 to expand at 2.9% CAGR during 2022-2030.

By industry vertical, the South & Central America power electronics market is divided into ICT, automotive & transportation, consumer electronics, industrial, energy & power, and others. The consumer electronics segment held 30.3% share of South & Central America power electronics market in 2022, amassing US$ 747.29 million. It is projected to garner US$ 980.73 million by 2030 to expand at 3.5% CAGR from 2022 to 2030.

Based on country, the South & Central America power electronics market is categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the Brazil captured 67.4% share of South & Central America power electronics market in 2022. It was assessed at US$ 1,662.81 million in 2022 and is likely to hit US$ 2,147.46 million by 2030, registering a CAGR of 3.2% during 2022-2030.

Key players operating in the South & Central America power electronics market are Vishay Intertechnology Inc; Toshiba Electronic Devices & Storage Corp; Littelfuse, Inc; Renesas Electronics Corp; Fuji Electric Co Ltd; ROHM Co Ltd; Mitsubishi Electric Corp; STMicroelectronics NV; and Infineon Technologies AG., among others.

In July 2023, Littelfuse, Inc., an industrial technology manufacturing company empowering a sustainable, connected, and safer world, announced the launch of its new Current Sensing Resistor (C.S.R.) family. These new C.S.R.s offer a more cost-effective solution for measuring current within circuits, enabling voltage monitoring, control, and power management of functions such as battery charging and motor speed while also providing overcurrent protection.

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