Power Electronics Market Size, Share and Growth Forecast 2025-2033

Power Electronics Market

IMARC Group’s IMARC Group’s report titled “Power Electronics Market Report by Device (Power Discrete, Power Modules, Power ICs), Material (Silicon, Sapphire, Silicon Carbide, Gallium Nitride, and Others), Application (Power Management, UPS, Renewable, and Others), Voltage (Low Voltage, Medium Voltage, High Voltage), End Use Industry (Automotive, Military and Aerospace, Energy and Power, IT and Telecommunication, Consumer Electronics, and Others), and Region 2025-2033”, The global power electronics market size reached USD 33.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 52.4 Billion by 2033, exhibiting a growth rate (CAGR) of 5.02% during 2025-2033.

Factors Affecting the Growth of the Power Electronics Industry:

  • Increase in Renewable Energy Use:

The power electronics market is growing fast because more people are using clean energy like solar and wind. Governments and companies are trying to reduce pollution and use energy that doesn’t harm the planet. Power electronics help change renewable energy into electricity we can use and keep the power grid steady. New materials like wide bandgap (WBG) semiconductors make these systems work better. As more renewable energy is used, power electronics are also needed for things like storing energy, electric cars, and smart grids. The power electronics market is expected to grow a lot as the world moves toward cleaner energy.

  • Growth of Electric Cars and Charging Stations:

The market for electric cars (EVs) is growing quickly, and it’s having a big effect on the power electronics market. More people are choosing electric cars because they’re better for the environment, and governments are supporting them. Power electronics are needed in EVs to control the battery, motor, and charging systems. As more charging stations are built, they also need strong power electronics to charge the cars quickly. New inventions like super-fast chargers and wireless charging are also making the need for power electronics bigger. As car companies and energy businesses keep working on electric cars and charging stations, the power electronics market will keep growing.

  • Focus on Energy Efficiency and Smart Technologies:

The demand for energy-saving products is changing the power electronics market. With energy prices going up and more concern about the environment, people and companies want things that use less energy and save money. Power electronics are important for making things like machines, air conditioners, and electronics work more efficiently. New technologies, like the Internet of Things (IoT) and artificial intelligence (AI), are also helping people control energy use by checking it in real-time. Smart grids, which use advanced power electronics, help use energy better and make sure power is sent out reliably. As the need for energy-efficient solutions grows, the power electronics market will keep getting bigger.

Grab a sample PDF of this report: https://www.imarcgroup.com/power-electronics-market/requestsample

Leading Companies Operating in the Power Electronics Industry:

Power Electronics Market

  • ABB Ltd.
  • Analog Devices Inc.
  • Fuji Electric Co. Ltd.
  • Infineon Technologies AG
  • Microchip Technology Inc.
  • Mitsubishi Electric Corporation
  • NXP Semiconductors N.V.
  • Renesas Electronics Corporation
  • ROHM Co. Ltd.
  • STMicroelectronics
  • Texas Instruments Incorporated
  • Toshiba Corporation
  • Vishay Intertechnology Inc

Power Electronics Market Report Segmentation:

Breakup By Device:

  • Power Discrete
    • Diode
    • Transistors
    • Thyristor
  • Power Modules
    • Intelligent Power Module
    • Power Integrated Module
  • Power ICs
    • Power Management Integrated Circuit
    • Application-Specific Integrated Circuit

Breakup By Material:

  • Silicon
  • Sapphire
  • Silicon Carbide
  • Gallium Nitride
  • Others

Breakup By Application:

  • Power Management
  • UPS
  • Renewable
  • Others

Breakup By Voltage:

Power Electronics Market

  • Low Voltage
  • Medium Voltage
  • High Voltage

Breakup By End Use Industry:

  • Automotive
  • Military and Aerospace
  • Energy and Power
  • IT and Telecommunication
  • Consumer Electronics
  • Others

Regional Insights:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Power Electronics Market Trends:

In 2024, some big trends will shape the power electronics market. One trend is using wide bandgap (WBG) semiconductors, which are more efficient and work better in high temperatures than older materials. This is important for renewable energy, electric cars, and factory automation. Artificial intelligence and machine learning will also help improve energy use by predicting when things need fixing and helping to use energy better. The rise of smart cities and IoT will drive the need for better power management systems to support connected devices. As these trends grow, the power electronics market is expected to get bigger, with a focus on saving energy and helping the environment.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Contact Us:

IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1–631–791–1145

Power Electronics Market Size, Share and Growth Forecast 2025-2033ultima modifica: 2025-01-23T09:34:29+01:00da imarcabhay

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