Power Electronics Market by Product (Power Diode, MOSFET, BJT, IGBT, and Thyristor); Type (Power IC, Power Module, and Power Discrete); End-user (Electronics, Energy & Power, Industrial System, Inverter & UPS, and Automotive): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026525 | Pages: 100 | Industry: Electronics and Semiconductor | Date: Sep 2022 | Type: Global

The power electronics market is expected to cross US$ 26.8 Billion mark in 2022 and is projected to hit US$ 40.2 Billion by 2030, recording a CAGR of 5.2% during the forecast period.

The rising use of power electronics in smart home appliances is propelling the power electronics market growth

Power electronics deals with devices that can efficiently convert and control the power from source to load. Power electronic devices prevent damage caused by fluctuating currents and high voltages. The rising use of power electronics in smart home appliances is one of the major factors propelling the power electronics market growth. Power electronics are used extensively in smart TVs, air conditioners, smart energy meters, robotic vacuums, HVAC control systems, and other smart appliances to increase power efficiency and support proper power management.

Aerospace and defense expected to grow at the highest CAGR in the power electronics market during the forecast period

The growing adoption/usage of power electronics in the aerospace and defense industry for applications such as cabin communications, flight control, power drive controls, lighting, and navigations, is significantly contributing to the growth of this segment. Also, the aerospace and defense industry is investing in developing low-weight, compact, and cost-effective equipment. Further, the companies operating in this market also focus on improving communications, surveillance, and commands.

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Growing demand for electric vehicles globally is a major factor in accelerating the growth of the power electronics market.

The increasing demand for electric vehicles across geographies is expected to contribute to the global power electronics market. Various vehicle components such as interior lighting, ignition switch, windshield wiper control, power steering, etc., utilize power electronics. Further, the rising concerns regarding the environment's safety have compelled the government of various regions to control emissions from the vehicle. Regions like North America, Europe, and North have strictly adopted various laws and regulations to reduce carbon emissions.

Recent strategic developments in the power electronics market

The power electronics market players have undergone several significant developments, and a few of these have been mentioned below:

  • In March 2021, StrongIRFET 2 power MOSFETs were introduced by Infineon Technologies. The product is available in the voltage range of 80V-100V and is optimized for both low and high frequencies.
  • In June 2021, ON Semiconductor, a US-based company, announced its new solutions of full silicon carbide MOSFET module for charging EVs with its 1200V full silicon carbide (SiC) MOSFET 2-PACK modules.
  • In July 2021, Mitsubishi Electric announced the launch of seven new X-Series products, i.e., two HVIGBTs and five HVDIODEs. This product launch is anticipated to boost the X-Series lineup to 24 power semiconductor modules, suitable for small-sized inverters used in traction motors, large industrial machinery, DC-power transmitters, etc.
  • In August 2021, STMicroelectronics launched its new 45W and 150W MasterGaN devices for high-efficiency power conversion.

Several players drive the power electronics market by implementing strategic investments, new product launches, mergers & acquisitions, and partnerships. ABB Group, Mitsubishi Electric Corp, NXP Semiconductors, Texas Instruments Incorporated, Infineon Technologies AG, Fuji Electric Co. Ltd, Microsemi Corporation, Vishay Intertechnology, Rohm Co., Ltd., and Analog Devices, Inc. are among the prominent players operating in the market.

Target audience for the power electronics market report:

  • Raw material providers
  • Power electronics manufacturers
  • Semiconductor component suppliers
  • Power electronics distributors and sales firms
  • End users of power electronics

Scope of the power electronics market report:

  • Product:
    • Power Diode
    • MOSFET
    • BJT
    • IGBT
    • Thyristor


  • Type
    • Power IC
    • Power Module
    • Power Discrete


  • End-user
    • Electronics
    • Energy & Power
    • Industrial System
    • Inverter & UPS
    • Automotive


  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa


  • Companies profiled
    • ABB Group
    • Mitsubishi Electric Corp
    • NXP Semiconductors
    • Texas Instruments Incorporated
    • Infineon Technologies AG

Companies profiled
- ABB Group
- Mitsubishi Electric Corp
- NXP Semiconductors
- Texas Instruments Incorporated
- Infineon Technologies AG

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