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Dublin, July 2, 2021 (Global News Service) – “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, competitive forecasts and opportunities, 2016 -2026” Report has been added to ResearchAndMarkets.com provide.
The global power electronics market is valued at USD 38.18 billion in 2020 and is expected to grow at a compound annual growth rate of 5.6% during the forecast period. The global power electronics market is driven by the growth trend of electric vehicles (EV) and hybrid electric vehicles (HV). In addition, the increasing popularity of renewable energy in developing and emerging economies is expected to increase the demand for power separation and power modules. In addition, the emergence of smart grids aimed at providing efficient and reliable power supply, incorporating more renewable energy into existing networks, and supporting the development of large-scale electric vehicles is expected to further promote market growth in the next few years. .
The global power electronics market is segmented according to equipment type, material, voltage, application and region. According to the device type, the market can be divided into power discrete devices, power modules and power ICs. Power discrete devices occupy the largest market share due to their low cost, but due to their applications in industrial or renewable energy converters and electric and hybrid electric vehicles, power modules are expected to grow in the market.
According to materials, the global power electronics market is divided into silicon, silicon carbide, gallium nitride, etc. Silicon occupies the largest share due to its good semiconductor characteristics and early adaptability. However, the company continues to invest in research and development to find materials with better chemical properties, such as SiC and GaN.
In terms of voltage, the market is divided into low voltage, medium voltage and high voltage. Medium-voltage power electronic devices used in consumer electronics currently dominate the market, but in the future…
The full story on Benzinga.com
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