Power electronics market to reach $36.86bn

The power electronics market is set to grow to $36.86bn in 2020, from $21.66bn in 2014, according to research firm MarketsandMarkets (M&M). APAC holds a major share of the power electronics ecosystem, worth 42.11% in 2013, and is expected to be at the same position across the forecast period, followed by the Americas and Europe.

The advancements in technology due to the research and development in this sector make the power electronics market one of the prominent segments in the current industrial scenario.

The substrate technology has a major role to play in this sector due to the cost effectiveness, and it also results in a longer life cycle of devices and systems and provides greater reliability. The substrate wafer technology includes the differentiation of materials based on the type of end solutions. These solutions are divided into three subsegments that include high-, middle- and low-end solutions. The materials discussed include GaN, SiC, silicon and sapphire.

Power electronic devices are subsegmented as the power electronic ICs, power modules and power discrete devices. The key benefits of power electronics devices include high efficiency, better properties to withstand rough environmental conditions and a longer life that is suitable for industrial, power, aerospace and defence applications.

M&M’s latest research report ‘Power Electronics Market by Substrate Wafer Technology (GaN, SiC, and Others), Devices (Power IC, Power Module & Power Discrete), Applications, and Geography - Analysis & Forecast to 2014-2020’ describes the market trends, drivers and challenges with respect to the power electronics market and forecasts the market up to 2020. The report profiles 10 promising players in the power electronics market ecosystem.

The competitive landscape of the market presents a very interesting picture, where a large number of small players have become forces to reckon with, according to M&M. The market is witnessing large-scale collaborations and partnerships across the value and supply chain among the number of tier-one players around the globe.

Major players in this field include: Texas Instruments Inc. (US), Vishay Intertechnology (US), Infineon Technologies AG (Germany), NXP Semiconductors (US), Fairchild Semiconductor (US), Microsemi Corp. (US), Toshiba Corp. (Japan), Hitachi Co., Ltd (Japan), and Mitsubishi Electric Corp. (Japan) among others