Hyderabad, Jan. 07, 2026 (GLOBE NEWSWIRE) -- According to Mordor Intelligence, the power electronics market is poised for steady expansion, driven by accelerating adoption across the automotive, industrial, and energy sectors. The market is expected to grow from USD 26.84 billion in 2025 to USD 28.78 billion in 2026, and is forecast to reach USD 40.81 billion by 2031, registering a CAGR of 7.24% during the 2026–2031 period.
This growth outlook reflects rising demand for efficient power conversion, voltage regulation, and thermal management solutions as industries transition toward electrification, automation, and renewable energy systems. Continued advancements in semiconductor materials such as silicon carbide (SiC) and gallium nitride (GaN) are reshaping the power electronics industry, enabling higher efficiency, compact system designs, and improved performance across a wide range of applications.
Power Electronics Market Trends Shaping Next-Gen Energy Systems
Renewable Energy Infrastructure Modernization
Across parts of Asia, large solar and wind projects are upgrading their power conversion systems to improve efficiency and reliability in demanding environments. Newer inverter technologies are better suited for high temperatures and continuous operation, helping renewable plants maintain stable output while meeting local regulatory and cost expectations.
Telecom Network Expansion Driving Power Efficiency
The rollout of advanced mobile networks is increasing the need for power components that deliver higher efficiency with lower heat generation. Telecom operators are prioritizing compact, high-performance solutions to support dense urban deployments, while long-term supplier partnerships are helping stabilize supply and reduce deployment risks
Regional Market Insights
Asia-Pacific continues to strengthen its position as a key growth hub for power electronics, supported by strong government backing for semiconductor manufacturing, electric mobility, and local supply chains. Investments across manufacturing, packaging, and research ecosystems are helping regional players improve availability, reduce costs, and respond faster to demand from automotive and renewable energy applications.
North America remains an important market, driven by innovation-led demand from data centers, electric vehicles, and advanced energy systems. Supportive policies and public–private funding are encouraging expansion of next-generation manufacturing capabilities, while defense-led research is enabling technology advancements that are increasingly finding their way into commercial power electronics applications.
Table of Content (Partial) - Power Electronics Industry
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET LANDSCAPE
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Accelerated Adoption of SiC/GaN Devices in EV Fast-Charging Infrastructure across Europe
- 4.2.2 Large-Scale Solar and Wind Farm Inverter Upgrades in Asia Driving High-Voltage Power Modules
- 4.2.3 5G Base-Station Roll-outs Requiring High-Efficiency RF Power Amplifiers in North America
- 4.2.4 and more
- 4.3 Market Restraints
- 4.3.1 Supply-Chain Bottlenecks for 150 mm+ SiC Wafers Limiting Volume Production
- 4.3.2 Packaging Thermal-Management Constraints Above 1.2 kV Modules
- 4.3.3 High CAPEX for 200 mm Wide-Bandgap Fabs Hindering New Entrants
- 4.4 Supply Chain Analysis
- 4.5 Regulatory and Technological Outlook
- 4.6 Porter’s Five Forces Analysis
- 4.6.1 Bargaining Power of Suppliers
- 4.6.2 Bargaining Power of Buyers
- 4.6.3 Threat of New Entrants
- 4.6.4 Threat of Substitutes
- 4.6.5 Intensity of Competitive Rivalry
- 4.7 Investment and Funding Analysis
- 4.8 Assessment of macroeconomic factors on the market
5. MARKET SIZE AND GROWTH FORECASTS (VALUE)
- 5.1 By Component
- 5.1.1 Discrete
- 5.1.2 Module
- 5.1.3 Integrated Power IC
- 5.2 By Device Type
- 5.2.1 MOSFET
- 5.2.2 IGBT
- 5.2.3 Thyristor
- 5.2.4 Diode
- 5.3 By Material
- 5.3.1 Silicon (Si)
- 5.3.2 Silicon Carbide (SiC)
- 5.3.3 Gallium Nitride (GaN)
- 5.4 By End-user Industry
- 5.4.1 Consumer Electronics
- 5.4.2 Automotive (xEV, Charging)
- 5.4.3 ICT and Telecommunication
- 5.4.4 Industrial (Drives, Automation)
- 5.4.5 and more
- 5.5 By Geography
- 5.5.1 North America
- 5.5.1.1 United States
- 5.5.1.2 Canada
- 5.5.1.3 Mexico
- 5.5.2 Europe
- 5.5.2.1 Germany
- 5.5.2.2 United Kingdom
- 5.5.2.3 France
- 5.5.2.4 Italy
- 5.5.2.5 Rest of Europe
- 5.5.3 Asia-Pacific
- 5.5.3.1 China
- 5.5.3.2 Japan
- 5.5.3.3 South Korea
- 5.5.3.4 Taiwan
- 5.5.3.5 India
- 5.5.3.6 Rest of Asia-Pacific
- 5.5.4 South America
- 5.5.4.1 Brazil
- 5.5.4.2 Argentina
- 5.5.4.3 Rest of South America
- 5.5.5 Middle East and Africa
- 5.5.5.1 Middle East
- 5.5.5.1.1 Saudi Arabia
- 5.5.5.1.2 United Arab Emirates
- 5.5.5.1.3 Turkey
- 5.5.5.1.4 Rest of Middle East
- 5.5.5.2 Africa
- 5.5.5.2.1 South Africa
- 5.5.5.2.2 Rest of Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration
- 6.2 Strategic Moves (M&A, JVs, Licensing)
- 6.3 Market Share Analysis
- 6.4 Power Electronics Market key Companies (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share for key companies, Products and Services, and Recent Developments)
- 6.4.1 Infineon Technologies AG
- 6.4.2 Mitsubishi Electric Corporation
- 6.4.3 ON Semiconductor Corporation
- 6.4.4 STMicroelectronics N.V.
- 6.4.5 Texas Instruments Inc.
- 6.4.6 ROHM Co., Ltd.
- 6.4.7 ABB Ltd.
- 6.4.8 And more
7. MARKET OPPORTUNITIES AND FUTURE OUTLOOK
- 7.1 White-space and Unmet-Need Assessment
For details on other market segments and the full table of contents, visit -
https://www.mordorintelligence.com/industry-reports/power-electronics-market?utm_source=globenewswire
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