New York, July 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Power Electronics Global Market Report 2022" - https://www.reportlinker.com/p06284343/?utm_source=GNW
, Littelfuse Inc., Maxim Integrated, ROHM CO. LTD., SEMIKRON, and Transphorm Inc.
The global power electronics market is expected to grow from $39.69 billion in 2021 to $43.71 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The power electronics market is expected to reach $58.10 billion in 2026 at a CAGR of 7.4%.
The power electronics market consists of sales of power electronics by entities (organizations, sole traders, and partnerships) that convert electrical power from one form to another to deliver power. Power electronics are electronic circuit devices that transfer power from a source to a load efficiently and robustly using diodes, transistors, and thyristors.
The main types of products in power electronics are discrete and module.Discrete devices are single-type semiconductors like diodes or transistors.
Power transistors are the foremost discrete devices that are being utilized in a various range of applications including regulating voltages, helping lower power consumption, and reducing heat generation.The different materials include silicon, silicon carbide, gallium nitride and involve various voltages such as low voltage, medium voltage, and high voltage.
It is used in power management, ups, renewable, and other applications and is employed in several sectors including automotive, consumer electronics, it and telecommunication, military and aerospace, industrial, energy and power, and others.
Asia Pacific was the largest region in the power electronics market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the power electronics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rapid development of electric vehicles is significantly contributing to the growth of the power electronics market.Electric vehicles are vehicles that are partially or fully powered by electric power.
Power electronics are used in numerous components of electric vehicles to handle electrical energy flow and also play a key role in energy management.For instance, according to International Energy Agency (IEA), a France based independent intergovernmental agency, In 2020, there were more than 10 million electric cars on the road worldwide, up 43% from 2019.
Therefore, the rapid development of electric vehicles is expected to propel the growth of the power electronics market going forward.
Technological advancements are a key trend gaining popularity in the power electronics market.Technological advancement is a discovery of knowledge that advances technology.
Major companies operating in the power electronics sector are focused on developing advanced technologies to meet consumer demand.For instance, in June 2021, STMicroelectronics, a Switzerland-based electronics and semiconductors manufacturer launched STi2GaN, a smart power electronic in its ST Intelligent and Integrated Gallium Nitride (GaN) solutions family.
The STi2GaN employs bond-wire-free packaging technology, a smart power technology that provides great reliability, durability, and performance. The STi2GaN takes advantage of Integrated Gallium Nitride (GaN) high power density to provide a variety of efficient devices to the automobile industry.
In April 2020, Infineon Technologies AG, a Germany-based semiconductor manufacturing company acquired Cypress Semiconductor Corporation for an undisclosed amount.Through this acquisition, Infineon Technologies aimed to strengthen structural growth to provide a broader range of applications.
Cypress Semiconductor is a US-based semiconductor manufacturing company that operates in power electronics.
The countries covered in the power electronics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06284343/?utm_source=GNW
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