The power electronics market is projected to reach USD 67.42 billion by 2030 from the estimated USD 51.73 billion in 2025, growing at a CAGR of 5.4% during the forecast period. The market is witnessing significant growth due to the increasing deployment of electric vehicles (EVs), growing investments in renewable energy infrastructure, and rising demand for energy-efficient electronic devices.
Power electronics play a vital role in managing and
converting electrical energy efficiently across multiple applications,
including automotive, industrial, consumer electronics, and energy sectors.
With governments across Asia Pacific, Europe, and North America offering policy
incentives to boost electrification and clean energy adoption, the demand for
advanced power components such as inverters, converters, and power modules is
rising rapidly. Additionally, the integration of wide bandgap semiconductors like
silicon carbide (SiC) and gallium nitride (GaN) is further accelerating
technological innovation, offering improved efficiency, switching speed, and
thermal performance. These developments support broader adoption in
high-performance applications, strengthening the market’s position. The
continued push toward digitalization, smart grids, and efficient energy storage
solutions further contributes to the robust growth outlook for the power
electronics market.
Major Power Electronics Companies Include:
- Infineon
Technologies AG (Germany)
- Texas
Instruments Incorporated (US)
- Semiconductor
Components Industries, LLC (US)
- STMicroelectronics
(Switzerland)
- Analog
Devices, Inc. (US)
- Mitsubishi
Electric Corporation (Japan)
- Renesas
Electronics Corporation (Japan)
- TOSHIBA
CORPORATION (Japan)
- Fuji
Electric Co., Ltd. (Japan)
- Vishay
Intertechnology, Inc. (US)
Infineon Technologies AG (Germany) is a global
leader in semiconductor solutions, with a strong presence in the power
electronics market. The company offers a comprehensive portfolio of power
semiconductors, including IGBTs, MOSFETs, power modules, and wide bandgap
solutions such as silicon carbide (SiC) and gallium nitride (GaN) devices,
serving automotive, industrial, and energy sectors. Infineon focuses on
continuous innovation, strategic acquisitions, and sustainability to strengthen
its market position. In 2020, the company completed its acquisition of Cypress
Semiconductor, enhancing its system capabilities and expanding its presence in
the automotive and IoT segments. Infineon’s power electronics solutions are
widely used in electric vehicles (EVs), renewable energy systems, smart
factories, and data centers, enabling energy-efficient power conversion and
management. The company invests heavily in R&D to develop next-generation
power devices that offer higher efficiency, faster switching, and superior thermal
performance. Its strategic focus on wide bandgap technologies supports the
growing demand for compact, high-performance solutions.
Texas Instruments Incorporated (US) is a
prominent provider of analog and embedded semiconductor solutions, with a
strong focus on power management technologies across industrial, automotive,
and consumer electronics applications. The company emphasizes organic growth
through continuous product innovation and process technology enhancements,
aiming to deliver reliable and energy-efficient power electronics components.
Its portfolio includes DC/DC converters, linear regulators, power switches, and
battery management ICs that support a wide range of voltage and current
requirements. Texas Instruments leverages its proprietary manufacturing
capabilities, including in-house wafer fabs and assembly/test operations, to
optimize cost efficiency and ensure product quality. The company’s power
management solutions are designed to meet stringent regulatory and
environmental standards, enabling smarter, more sustainable systems in electric
vehicles, industrial automation, and smart home devices. In recent years, TI has
expanded its automotive and industrial product lines with advanced features
such as ultra-low quiescent current, high switching frequency, and thermal
efficiency to address growing electrification demands. Its continued investment
in R&D, customer-centric design support, and scalable product platforms
helps strengthen its position as a trusted leader in the global power
electronics landscape.
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Market Ranking
The power electronics market is competitive, with
five main players collectively controlling 35.5–45.5% of the total market
share. Infineon Technologies AG leads the market due to its extensive product
portfolio, strong focus on energy efficiency, and significant presence in the
automotive and industrial power sectors. Texas Instruments Incorporated plays a
key role in the market, driven by its deep expertise in analog and embedded
processing technologies. It offers high-performance power management solutions
across diverse applications. Semiconductor Components Industries, LLC (Onsemi)
holds a significant market position, leveraging its robust portfolio of silicon
carbide (SiC) and intelligent power modules tailored for electric vehicles,
renewable energy systems, and industrial automation. STMicroelectronics plays a
key role in the market with its wide range of power discretes and modules
designed for high-voltage, high-efficiency systems across consumer and
industrial applications. Analog Devices, Inc. holds a significant market
position. It is known for its advanced power conversion and signal processing
solutions. The company has a growing focus on electrification and precision
power delivery in automotive and healthcare systems. The remaining 54.5%–64.5%
of the market consists of numerous regional and emerging players, creating
opportunities for innovation and market penetration.
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