Market Trends
According to projections, the Power Electronics Market will increase from USD 37.4 billion in 2021 to USD 46.3 billion in 2026, with a CAGR of 4.4% during that period. This growth reflects the rising demand for dependable and efficient power transmission systems.
The constant need for electronics goods and services, rising investments in renewable energy sources, and emerging technologies like mobile computing and the Internet of Things are the main reasons propelling the expansion of the power electronics industry. Despite the negative effects of macroeconomic events on the general economy, these factors are anticipated to propel continuing expansion in the power electronics market.
Companies need as many items as they can to satisfy their consumers' expectations as the electrical energy sector faces new challenges. However, due to intense competition and a global dearth of skilled human copywriters, businesses must either acquire trustworthy vendors for AI-driven script writing software or rely on fewer employees to produce more content.
Informational PDF Brochure :- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=204729766
Power Electronics Overview
The power electronics market includes items like control systems, converters, generators, substations, and transmission and distribution systems. These networks play a crucial role in transferring electricity from production sources to consumers.
Power electronics applications in electric power systems
Power electronics are crucial in a variety of electric power systems, such as distributed renewable production energy storage systems and conventional grid-connected systems (which include fossil fuel plants) (DERESS).
The European Market
The birthplace of power electronics is Europe. The headquarters of more than 100 enterprises in this sector are in Europe. Three major players—ABB Group, Emerson Electric, and Siemens—control the European market. Each of these businesses is capable of offering their clients the full spectrum of power electronics goods and services. This makes it possible for customers to choose the best equipment for their unique requirements.
Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=204729766
The Chinese Market
The market is expanding significantly as a result of the rising need for automation and renewable energy across numerous industrial applications. The need for power electronics in China is being fueled by a number of causes, including increasing sales of electric vehicles, infrastructure sector expansion, and expanding investment in smart cities. The expansion of the miniaturisation market is also being hindered by the rising demand from industrial players for advanced solutions like EMI suppression, proactive safety and efficiency features, and dynamic thinking capabilities.
The Japanese Market
The main driver of the expansion is an increase in demand from sectors like electric vehicles and renewable energy.
The emergence of new technologies like artificial intelligence and machine learning, which are undermining the old revenue sources for power electronics companies, is upending the market. The development of these cutting-edge technologies is, however, also creating new commercial opportunities.
Infineon Technologies (Germany), ON Semiconductor (US), STMicroelectronics (Switzerland), Mitsubishi Electric (Japan), Vishay Intertechnology (US), Fuji Electric (Japan), NXP Semiconductors (Netherlands), Renesas Electronics (Japan), Texas Instruments (US), Toshiba (Japan), ABB (Switzerland), GaN Systems (Canada), Littelfuse (US), Maxim Integrated ( (Japan).
Browse For More Details - https://www.marketsandmarkets.com/Market-Reports/power-electronics-market-204729766.html
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Visit Our Website: https://www.marketsandmarkets.com
