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Power Electronics Market Analysis

  • Report ID: GMI1355
  • Published Date: Jan 2023
  • Report Format: PDF

Power Electronics Market Analysis

Power electronics market size from industrial applications is expected to exhibit over 5.5% CAGR between 2023-2032. Power modules have extensive industrial applications considering their significant usage in energy-intensive operations that involve moving cranes, Voltage/Current (V/I) monitoring in conveyor belts, industrial rollers, motor drives, smart meters, and forklift trucks. The rising adoption of electrically-powered forklift trucks and mobile cranes is also expected to favor segment growth over the projected timeframe. Furthermore, industrial facilities rely heavily on heavy machinery for day-to-day operations and showcase massive energy needs, representing a higher demand for power electronic products.

Authors: Suraj Gujar

Frequently Asked Questions (FAQ) :

The global market size for power electronics was worth more than USD 25 billion in 2022 and is anticipated to expand at over 5.5% CAGR from 2023-2032.

Power electronics industry size from the discrete product segment is poised to record a 4.5% CAGR from 2023-2032 led by the increasing scope in automotive applications.

Asia Pacific market for power electronics was more than 55% in 2022 and will witness substantial expansion through 2032 due to the surging EV sales.

Fuji Electric Co. Ltd., NXP Semiconductor N.V., STMicroelectronics N.V., and Infineon Technologies AG are some of the major power electronics companies.

Power Electronics Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 24
  • Tables & Figures: 203
  • Countries covered: 16
  • Pages: 250
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