Power Electronics Market Size in Power Modules Segment is Expected to Grow Exponentially by 2024
Category: #Technology  By Ashwin Naphade  Date: 2019-08-21
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Power Electronics Market Size in Power Modules Segment is Expected to Grow Exponentially by 2024

Power Modules are witnessing high growth in the power electronics market. These components are used in providing an easy way to cool the device and connect it to the outer circuit. The advantages of integrating these components are ease of assembly, reliable operation, and long life. The applications of these components include appliances, battery chargers, conveyors, inverters, UPS systems, transportation, welding machines, and converters. Some of the manufacturers who offer these modules are Semikron, Fuji, ABB Sanken, and IXYS. These players are targeting their products to the consumer electronics sector where a high demand for such components can be witnessed, thereby driving the power electronics market growth.

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Owing to the broad expanse of application arenas, power electronics market, one of the most pivotal verticals of the electronics and media sphere has been estimated to garner substantial returns in the ensuing seven years. The extensive popularity of this business space can be attributed to its massive deployment across the automotive, industrial, consumer electronics, defense, aerospace, renewable energy systems, and ICT sectors.

Applications of these components in the automotive sector are expected to witness a high growth in the power electronics market. Several technological advancements and the need for power-efficiency in vehicles are encouraging manufacturers to integrate energy-efficient solutions in their offerings. These solutions are provided by the component developers according to the needs and requirements of the customers. Several applications of these devices in the automobile sector are automotive power generation, switched mode power supply, DC to DC converters, onboard charger, and traction inverter. Such applications of the devices are driving the industrial growth.

The Asia Pacific region is anticipated to be one of the most lucrative territory for power electronics market, given the wide-ranging deployment of the products across a multitude of business verticals. The economic boom in the region has resulted in increased disposable income in the middle-class households which has enabled them to purchase a greater amount of luxury electronic goods and systems. To add to it, the power losses and consistent current fluctuations, especially in manufacturing and industrial sectors of the region, have necessitated the deployment of power electronics systems such as UPS, inverters, and power regulators.

Browse key industry insights spread across 230 pages with 113 market data tables & 63 figures & charts from the report, “Power Electronics Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/power-electronics-market

Given the wide-ranging adoption of emerging power electronics technologies on the global scale, it would be prudent to note that these systems shall acquire a prominent role in the growth of diverse industries such as heavy machinery, alternative energy, construction, oil and mining, and household equipment. According to a research report compiled by Global Market Insights, Inc., worldwide power electronics market size is slated to exceed USD 45 Billion by 2024.

Some Points From Table Of Content: -

Chapter 4.   Power Electronics Market, By Product

4.1.  Power electronics industry share by product, 2016 2024

4.2.  Discrete

4.2.1. Market estimates and forecasts, 2013 - 2024

4.3.  Module

4.3.1. Market estimates and forecasts, 2013 - 2024

4.4.  IC

4.4.1. Market estimates and forecasts, 2013 - 2024

Chapter 5.   Power Electronics Market, By Application

5.1.  Power electronics market share by application, 2016 2024

5.2.  Automotive

5.2.1. Market estimates and forecasts, 2013 - 2024

5.3.  Consumer electronics

5.3.1. Market estimates and forecasts, 2013 - 2024

5.4.  ICT

5.4.1. Market estimates and forecasts, 2013 - 2024

5.5.  Industrial

5.5.1. Market estimates and forecasts, 2013 - 2024

5.6.  Aerospace defense

5.6.1. Market estimates and forecasts, 2013 – 2024

5.7.  Others

5.7.1. Market estimates and forecasts, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/power-electronics-market

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Ashwin Naphade    

Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interest...

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