The Europe power electronics market was valued at US$ 9,217.70 million in 2022 and is expected to reach US$ 13,236.50 million by 2030; it is estimated to record a CAGR of 4.6% from 2022 to 2030.
Rising Demand for Power-efficient and High-energy Devices Drives Europe Power Electronics Market
Industrial appliances such as motor drives, power converters, UPSs, and server power supplies consume a large amount of power. Consequently, any improvement in industrial power supply efficiency will result in a significant drop in operating expenses for a business. The demand for high-efficiency power supplies is increasing across the globe due to their improved thermal performance and higher power density. Currently, uninterruptible power supplies are one of the most widely used applications for power semiconductors. Numerous hardware such as computers, communications equipment, data centers, and other electrical equipment are integrated with power semiconductors that protect them against unplanned power outages. The system used for uninterruptible power supplies typically consists of batteries and an IGBT (insulated-gate bipolar transistor) inverter, which have high voltage capabilities. This increases its adoption in high-current-density applications.
High-efficiency power sources are becoming increasingly necessary worldwide. Growing awareness related to efficient energy usage is creating demand for power semiconductors among consumers. Power semiconductors are also becoming an essential component to reduce the carbon footprint of society worldwide. Power semiconductors such as diodes, thyristors, and transistors are highly used for regulating electricity in automotive, consumer electronics, power, energy, ICT, and other industries. Thus, the rising demand for power-efficient and high-energy devices drives the power electronics market.
Europe Power Electronics Market Overview
The Europe power electronics market is segmented into Germany, Italy, France, Russia, the UK, and the Rest of Europe. The power electronics market in Europe is experiencing steady growth attributed to the rapid adoption of electric vehicles (EVs). EVs require high-performance power electronics systems for efficient power conversion, driving the demand for advanced components and technologies. Additionally, Europe's strong commitment to renewable energy sources such as wind and solar is fueling the demand for power electronics systems that can efficiently integrate these sources into the grid. Also, the increasing trend of industrial automation is creating opportunities for power electronics in areas such as robotics, motor drives, and process control.
Moreover, companies that can effectively address the key challenges and capitalize on the growth opportunities are expected to benefit from this dynamic market. A few of the leading companies operating in the power electronics market in Europe include Infineon Technologies, STMicroelectronics, NXP Semiconductors, Robert Bosch GmbH, ABB, Siemens AG, Mitsubishi Electric, Fuji Electric, and Yazaki Corporation. Therefore, the power electronics market in Europe is experiencing robust growth driven by various factors, with significant opportunities for further development in the coming years.
Europe Power Electronics Market Revenue and Forecast to 2030 (US$ Million)
Europe Power Electronics Market Segmentation
The Europe power electronics market is categorized into type, material, industry vertical, and country.
Based on type, the Europe power electronics market is categorized into power discrete, power module, and power IC. The power module segment held the largest market share in 2022.
In terms of material, the Europe power electronics market is categorized into Silicon (SI), Silicon Carbide (SIC), Gallium Nitride (GAN), and others. The Silicon Carbide (SIC) segment held the largest market share in 2022.
By industry vertical the Europe power electronics market is segmented into ICT, automotive & transportation, consumer electronics, industrial, energy & power, and others. The consumer electronics segment held the largest market share in 2022.
By country, the Europe power electronics market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The UK dominated the Europe power electronics market share in 2022.
Vishay Intertechnology Inc; Toshiba Electronic Devices & Storage Corp; Littelfuse, Inc; Renesas Electronics Corp; ROHM Co Lt; Fuji Electric Co Ltd; Mitsubishi Electric Corp; STMicroelectronics NV; Semiconductor Components Industries, L.L.C. (On Semiconductor); and Infineon Technologies AG are some of the leading companies operating in the Europe power electronics market.
Europe Power Electronics Market Strategic Insights
Europe Power ElectronicsMarket Report Highlights
| Report Attribute | Details |
| Market size in 2022 | US$ 9,217.70 Million |
| Market Size by 2030 | US$ 13,236.50 Million |
| CAGR (2022 - 2030) | 4.6% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Type
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Regions and Countries Covered
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| Europe | UK, Germany, France, Russia, Italy, Rest of Europe |
| Market leaders and key company profiles |
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Europe Power Electronics Market Country and Regional Insights
