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(I-AutoNewsWire.com, August 29, 2018 ) Industry Outlook and Trend Analysis
The Power Electronics market was worth USD 30.87 billion in 2014 and is expected to reach approximately USD 49.64 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 5.42% during the forecast period. The expanding demand for battery-powered and energy-efficient devices is probably going to drive the worldwide market over the figure time frame. Also, the inclination for upgrading power infrastructure, expanding focus regarding the usage of sustainable power sources, and developing pattern of vitality reaping advancements are the significant angles that are foreseen to support the business development over the assessed term. Power electronics is strong state circuitry device which are utilized to change and control electrical energy from the source to the load in a proper and successful way.
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Material Outlook and Trend Analysis
Silicon represented the biggest market estimate in 2016 and is anticipated to rule the market over the conjecture time frame. The appropriateness of silicon in various power electronic devices and equipment has driven the material to represent the biggest share. Nonetheless, the sapphire fragment is foreseen to develop at the most significant CAGR over the forecast period. The development of this fragment is inferable from the beneficial opportunities, for example, usage of sapphire in cell phone cover glasses, smart watches, optical wafers, and LED lights is picking up footing for the material.
Device Outlook and Trend Analysis
Discrete devices portion represented the biggest market measure in 2016 and is foreseen to rule the market over the forecast period. Discrete devices for the most part incorporate diverse kinds of transistors, thyristors, and diodes. This expansive share of the overall industry of the discrete devices is because of huge implementation of diodes, thyristors, and transistors in the electronic circuitry. Nonetheless, the headways in the power electronic division have prompted the improvement and reception of different power electronics in various applications.
Application Outlook and Trend Analysis
The power fragment represented the biggest market estimate in 2016 and generated the biggest income. The automotive application is foreseen to reflect the speediest development over the estimate time frame. The development of the portion can be attributable to the expanding interest for energy-efficient hybrid electric vehicles to check down the effect of developing contamination on nature.
Regional Outlook and Trend Analysis
The Asia Pacific locale represented the biggest share of 40% of the worldwide business in 2016. The locale is anticipated to witness an extensive development and would proceed with its domination over the forecast period. The huge share of the overall industry and regional development can be credited to the lucrative opportunities in automotive, electronics, industrial, and ICT applications in the Asia Pacific area. The regional rise as a promising manufacturing hub, especially for the consumer electronics and automotive divisions, has prompted a remarkable ascent in production practices over the area by various driving makers of the verticals.
Competitive Insights
The leading players in the market are Renesas Electronics, Texas Instruments, Maxim Integrated, Vishay Intertechnology, Infineon Technologies, ABB India, Fuji Electric, NXP Semiconductor N.V, STMicroelectronics, Mitsubishi Electric and Qualcomm. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
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The Power Electronics market is segmented as follows-
By Material: Sapphire Gallium Nitride (GaN) Silicon (Si) Silicon Carbide (SiC) Others
By Device: Module Discrete IC
By Application: Consumer Electronics Industrial Aerospace & Defence ICT Power Automotive Others
By Region North America U.S. Canada Mexico Europe Germany UK France Russia Italy Rest of Europe Asia-Pacific China Japan South Korea India Southeast Asia Rest of Asia-Pacific South America Brazil Argentina Columbia South Africa Rest of South America Middle East and Africa Saudi Arabia UAE Egypt Nigeria South Africa Rest of MEA Some of the key questions answered by the report are: What was the market size in 2014 and forecast from 2015 to 2023? What will be the industry market growth from 2015 to 2023? What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast? What are the major segments leading the market growth and why? Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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Qurate Business Intelligence
Nehal Chinoy
+919881074592
nehal@qurateresearch.com
Source: EmailWire.Com
Source: EmailWire.com
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