Global Power Electronics Market to witness a disruption driven by covid 19
According to MRFR analysis, the Power Electronics Market is projected to register a CAGR of 6.64%. It is estimated that the Power Electronics Market value will further rise to USD 59.40 Billion during the forecast period 2020-2026. Hence, the power device market will thrive exponentially in the upcoming period. Power Electronics are heavily used in hybrid and commercial vehicles. This helps to optimize the costs and helps us to save the power and related costs. It also increases the mileage, power density and enhances the performance of the battery.
With the increase in the demand for electronic vehicles, the value of the power devices will rise simultaneously. Along with that, its positive factors such as portable devices, use of renewable energy will further influence the market to use sustainable solutions. Hence, the demand for eco-friendly solutions will promote overall market growth.
Power Electronics Market Competitive Landscape:
Alpha & Omega Semiconductor (AOS) Europe, AMS AG, Analog Devices Inc, Dialog Semiconductor, Diodes Incorporated, Semiconductor Component Industries LLC, Infineon Technologies AG, Renesas Electronics Corporation, Maxim Integrated, Microchip Technology Inc., STMicroelectronics, Texas Instruments, Toshiba Electronic Devices & Storage Corporation, Vishay Intertechnology Inc., and Allegro Semiconductors
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Regional Assessment
The global business regional analysis was conducted in four major regions including Asia Pacific , North America, Europe and the rest of the world. The European region will dominate the market for Power Electronics due to Growing demand for natural gas for generating power and heating spaces. The region needs better transport facilities for gas as the current physical pipelines have become outdated and require high maintenance and upgrade costs. Asia-Pacific is the fastest growing region, since the region’s developing nations are the net importers of natural gas. China itself was the largest consumer of natural gas in 2017, with industrialization and urbanization projects expected to increase consumption. The region’s emerging markets, such as Indonesia and Pakistan, are also experiencing high demand for natural gas, which brings opportunities for Power Electronics in Asia Pacific.
Competitive Analysis
The inventions being discovered or attempted in the market are also considered to provide further opportunities for growth in the coming period. The effect of global currencies is expected to have a significant effect on market growth. The upsurge in exports is expected to create constructive situation for expansion in the coming period. The bearing of global trade policies by various administrations is expected to further enhance the market expansion potential in the forecast period. The inclusion of certain elements of functionality in production facilities is likely to create better supply potential for the overall market. The streamlining of the distribution channels is expected to create better supply chains and lead to a more positive effect on the global market. The momentum of change in the market is predicted to create new opportunities for growth in the forecast period
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Wafer Type
Gallium Nitride
SiC
Silicon
Others
Component
Thyristor
Gate Turn-Off Transistor (GTO)
MCT (MOS-Controlled Thyristor)
Silicon Controlled rectifier (SCR)
AC/DC Converter
Static Switches
MOSFET
Others
Wafer Size
450mm
200mm
300mm
150mm
More than that
Application
Defense and Aerospace
Telecommunications and IT
Utilities and Energy
Automotive
Transportation
Industrial
Consumer Electronics
Others
Covid 19 Analysis
Due to a rise in phishing activities, COVID-19 has substantially increased the adoption of cloud infrastructure and services. In addition, COVID-19 has significantly increased the security budget, which has resulted in a large increase in cloud infrastructure and services. According to the findings of a study conducted by Microsoft and published in August 2020, 36% of the total 800 respondents said that the budget for cybersecurity had risen as a consequence of the pandemic outbreak. Additionally, 42 percent of those who answered the survey said that the company altered its personnel by adding more security experts.
Drivers and Restraints
The Power Electronics market is driven by numerous factors such as increasing construction FDI in the Asia Pacific region, and policy reforms and policies that support them. Governments across all regions are observed, their construction sector supported, and created. The emerging economies are the ones that put in various reforms and regulations in particular to fuel their infrastructure growth and the real estate market. Such expansion is slated to increase scaffolding’s market growth. The Power Electronics market has constraints such as fluctuating prices of raw materials and slower economic growth, which hinder market development.
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Table of contents:
1 EXECUTIVE SUMMARY
1.1 GLOBAL POWER ELECTRONICS MARKET, BY COMPONENT
1.2 GLOBAL POWER ELECTRONICS MARKET, BY ORGANIZATION SIZE
1.3 GLOBAL POWER ELECTRONICS MARKET, BY DEPLOYMENT
1.4 GLOBAL POWER ELECTRONICS MARKET, BY END-USERS
1.5 GLOBAL POWER ELECTRONICS MARKET, BY REGION
2 MARKET INTRODUCTIONS
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 FORECAST MODEL
3.6 LIST OF ASSUMPTIONS
4 MARKET DYNAMICS
Continued…
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