Worldwide Power Electronics Industry to 2026 - Growing Popularity of Renewable Sources of Energy is Driving Growth
DUBLIN, July 2, 2021 /PRNewswire/ -- The "Global Power Electronics Market, By Device Type (Power Discrete, Power Module and Power IC), By Material (Silicon, Silicon Carbide, Gallium Nitride and Others), By Voltage, By Application, By Region, Competition Forecast & Opportunities, 2016-2026" report has been added to ResearchAndMarkets.com's offering.
The Global Power Electronics Market was valued at USD38.18 billion in 2020 and is expected to grow at CAGR of 5.6% during the forecast period. The Global Power Electronics Market is driven by growing trend for Electric Vehicles (EVs) and Hybrid Vehicles (HVs). Additionally, the growing popularity of renewable sources of energy among developing and emerging economies is expected to increase the demand for power discrete and power modules. Furthermore, the emergence of smart grid that serves the purpose of efficient and reliable electricity supply, integration of more renewable energy into an existing network and supporting the development of electric vehicles at a scale is expected to further bolster the market growth over the next few years.
The major players operating in the Global Power Electronics Market are Infineon Technologies AG, ON Semiconductor Corporation, STMicroelectronics N.V., Mitsubishi Electric Corporation, Toshiba Corporation, Texas Instruments Inc., Fuji Electric Co., Ltd.,
Renesas Electronics Corporation, Vishay Intertechnology, Inc., NXP Semiconductors N.V, etc. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
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For more information about this report visit https://www.researchandmarkets.com/r/y69ymb
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