Power Electronics Market Trend to 2024 Profiling Semikron Electronics GmbH & Co., Inc., Renesas Electronics Corporation, Texas Instruments Incorporated, ON Semiconductor - iCrowdNewswire
  • Spain
  • Brazil
  • Russia
  • France
  • Germany
  • China
  • Korea
  • Japan
 

Feb 15, 2018 7:30 AM ET

Power Electronics Market Trend to 2024 Profiling Semikron Electronics GmbH & Co., Inc., Renesas Electronics Corporation, Texas Instruments Incorporated, ON Semiconductor

iCrowdNewswire - Feb 15, 2018

Global Power Electronics Market is Projected to grow at 4% CAGR during the period 2017-2024. Power Electronics Industry research report also provides granular analysis of the market share, Size, segmentation, revenue forecasts and geographic regions of the market.

The high demand for alternative energy systems such as solar, wind, and geothermal over conventional power sources will drive the power electronics market. This is largely due to the increase in pollution rates that is resulting in reduced life expectancies and physical ailments among the general population. The high growth of industrialization in the Asia Pacific is causing cities such as Rawalpindi, Kolkata, Delhi, and Beijing to experience an increase in air pollution rates. To combat this situation, governments across the world are initiating stringent regulations restricting the emission of particulate matter above a certain specified range, aiding power electronics market growth. For instance, the SO2 emissions impacting the cement industries range from 50mg/cubic Nm in Germany to 400mg/cubic Nm in Egypt.

Power Electronics Market size is set to exceed USD 45 billion by 2024; as per a new research report.

Request a Sample Copy of Global Power Electronics Market Research Report @ https://www.marketstudyreport.com/request-a-sample/707336//?utm_source=ICRW-SP

Governments are also pushing the provision of grants and VAT exemptions for electric vehicle owners to increase the adoption and decrease the total cost of ownership. For instance, the UK government offers consumers financial incentives in the form of grants and subsidies upwards of USD 5,944 for these vehicles. Also, ownership cost of fully-electric vehicles is reduced with owners of vehicles that cost less than USD 52,844 to be exempted from paying annual road taxes. The presence of such initiatives and plans is anticipated to drive the power electronics market.

The increase in terrorist attacks and criminal activities across the world is leading to an increase focus on the development of new and advanced defense technologies. The development of defense systems such as missiles, high altitude platforms, satellites, communication technologies, and combat land and air vehicles are driving the growth of the power electronics market. UAVs, for instance, are required to stay operational for prolonged periods of time without the provision of constant fueling and charging stations. To tackle this issue, these systems are either equipped with battery, powered storage units or solar panels, both of which requires DC-DC convertors and powertrains to function.

Enquire Discount on Global Power Electronics Market Research Report @ https://www.marketstudyreport.com/check-for-discount/707336//?utm_source=EMP-SP

The discrete power electronics market is anticipated to exhibit substantial growth during the forecast timespan as components such as transistors, diodes, and thyristors find increasing applications in every day electronics and consumer systems. Diodes, for instance, have varied use cases as blocking devices in solar charging systems for the prevention of a storage unit such as the battery from discharging through the solar panel.

The rising demand for data centers and wireless technologies is fueling the growth of the ICT segment of the power electronics market. For instance, in data centers, cooling of the system consumes approximately 40% of the total electricity. By applying variable speed drives to pumps and air conditioning units, the speed of the systems can be adjusted to match the amount of cooling that is required providing massive energy and cost savings.

The economic boom in the Asia Pacific countries is contributing to the high growth of the power electronics market. The middle-class population is now able to purchase a larger amount of luxury goods and household systems. Furthermore, in industrial and manufacturing settings, these systems are essential components to combat issues pertaining to power losses and current fluctuations through the usage of power regulators, UPS, and inverters.

Players operating in the global power electronics market include Semikron Electronics GmbH & Co., Inc., Renesas Electronics Corporation, Texas Instruments Incorporated, ON Semiconductor, NXP Semiconductor N.V., Methode Electronics, Inc., Microsemi Corporation, and Maxim Integrated Products, Inc. Product innovations are commonplace among industry participants. For instance, in May 2017, Fuji Electric Co. Ltd. announced the launch of a High Voltage Contactor that has the capability of delivering very high current overload capacity for reliable vehicle operation.

Growth drivers

Rising demand for renewable energy and improvements in power infrastructure in Asia Pacific, Europe and the U.S.

Need for increasing energy efficiency in industrial applications in Eastern Europe and South-East Asia

Growth of electric (EVs) and hybrid vehicles (HEVs) in North America and Asia Pacific

Growing consumer electronics market in the Asia Pacific

Deployment of smart grids in Europe

Order a copy of this premium research report @ https://www.marketstudyreport.com/securecheckout/paymenta/707336?msfpaycode=sumsf/?utm_source=EMP-SP   

Related Reports: –

2017 US Power Electronics Industry Report

This report is an essential reference for who looks for detailed information on US Power Electronics market. The report covers data on US and its regional markets including historical and future trends for supply, market size, prices, trading, competition and value chain as well as US major vendors’ information.

https://www.marketstudyreport.com/reports/2017-us-power-electronics-industry-report/?utm_source=RR-SP 

About Us:

Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.

Contact Us:

Market Study Report

The Green Suite #4594,

Dover, DE 19901

United States

Phone: 1-201-355-0868

US Toll Free: 1-866-764-2150

Email: [email protected]

Website: https://www.marketstudyreport.com

News: https://www.marketstudyreport.com/category/news-releases/

Connect with us: Google+ | LinkedIn | Twitter

Contact Information:

United States
Phone: 1-201-355-0868
US Toll Free: 1-866-764-2150
Email: [email protected]

Keywords: power electronics market trends, Power Electronics Market, Power Electronics Industry, Power Electronics Market Share, Global Power Electronics Market Size, Power Electronics Market Growth
Tags: Wire, Research Newswire, Press Release, North America, United States, United Kingdom, Europe, Asia, English
View Related News >