Globally, it has been marked that the power electronics market has occupied a market value of USD 59.40million along with a CAGR value of 6.64 percent during the market forecast period. Power electronics are used for hybrid and certain commercial automobiles where optimization of money takes place at a high rate along with consumption of power taking place at a very relatable cost. These features help in accelerating mileage and power density facility which helps in improving the longevity of the vehicles.
It has an environment-friendly nature. The awareness along with the public regarding economic products and eco-friendly products has raised the demand of the market. Portable energy has various other advantages like reducing power consumption. The rise in the rate of mileage has enhanced the performance of the battery. Power electronics have been used for flight control and military radars which has improved the rate of the market.
The rise in growth trends among the public concerning military and aerospace units has created opportunities regarding the market size. It enhances the surveillance processes. Power electronics are very much advantageous in solving costs, power stability, the problem of weight, and others. Using grid capacity has helped in the improvement of the market.
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Market Segmentation
The market globally has been divided into application, component, type, water type, and size. Based on water size, the electronic industry is further divided into Silicon, SiC, Gallium Nitride, and others. Based on components, the industry is being divided into AC/DC converters, Diodes, Thyristor, and Convertors. Based on the application segment, the market is being divided into aerospace and defense, automotive, telecommunications, consumer electronics, and others.
Regional Classification
Asia Pacific market has held the largest market share during the market forecast period. It has covered a CAGR value of about 10 percent globally. Here demand in the market is due to the growth of electronic devices. The market here records a large rise in market revenue with the extreme rise in renewable energy. Using electronic devices due to high growth in awareness helps in reducing carbon emissions in certain regions of Japan, China and others. The majority of these countries are dealing with market sales that cover a market share of 25 percent.
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Industry News
The key players laying in the global market use different strategies like a partnership, acquisitions, new launches, new ventures, and others. Some of them are AMS AG, Semixonductir Component Indistres LLC, Alpha, and Omega Semiconductor, Vishay Intertechnology, Toshiba Electronic Devices, Suprage Corporation, Maxim Integrated, Dialog Semiconductor, STMicroelectronics, Renesas Electronics Corp, Diodes Incorporated, Texas Instruments, Infineon Technologies Ag, Microchip Technology, and others. The National Renewable Energy Laboratory April 2022, has launched certain light-duty electric automobiles. It helps in controlling the flow of electricity thus propelling up the power electronic system market. It can control the flow o electricity where the machines have been used in manufacturing planes, trains, and heavy product transportation. This research lab is focusing on the invention of new research and developmental activities and projects in grid storage, and energy-efficient computing.
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1 EXECUTIVE SUMMARY
2 MARKET INTRODUCTION
2.1 OVERVIEW
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVES
2.4 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
4 MARKET DYNAMICS
4.1 OVERVIEW
4.2 DRIVERS
4.2.1 INCREASING FOCUS ON DEVELOPING POWER INFRASTRUCTURE AND THE USE OF RENEWABLE POWER SOURCES
4.2.2 RISING USE OF POWER ELECTRONICS IN PORTABLE ENERGY SYSTEMS
4.3 RESTRAINT
4.3.1 COMPLEX DESIGN AND INTEGRATION PROCESS OF ADVANCED TECHNOLOGICAL DEVICES
4.4 OPPORTUNITIES
4.4.1 GROWING DEMAND FOR HEVS AND EVS
4.4.2 DEMAND FOR GAN AND SIC POWER SEMICONDUCTORS
4.5 CHALLENGE
4.5.1 UNSOLVABLE STRATEGIC ISSUES OF THE SEMICONDUCTOR INDUSTRY
4.6 IMPACT ANALYSIS OF COVID-19
4.6.1 IMPACT ON SEMICONDUCTOR MANUFACTURERS
4.6.2 IMPACT ON COMPONENT MANUFACTURERS
4.6.3 IMPACT ON DEVICE MANUFACTURERS
4.6.4 IMPACT ON SUPPLY CHAIN DELAYS
5 MARKET FACTOR ANALYSIS
5.1 SUPPLY CHAIN ANALYSIS
5.1.1 RESEARCH & DEVELOPMENT CENTER
5.1.2 MATERIAL SUPPLIERS AND FOUNDRIES
5.1.3 COMPONENT MANUFACTURERS
5.1.4 SUBSYSTEM INTEGRATORS
5.1.5 END USERS
5.2 PORTER’S FIVE FORCES MODEL
5.2.1 THREAT OF NEW ENTRANTS
5.2.2 BARGAINING POWER OF SUPPLIERS
5.2.3 THREAT OF SUBSTITUTES
5.2.4 BARGAINING POWER OF BUYERS
5.2.5 INTENSITY OF RIVALRY
Continued…
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