In the dynamic world of technology, the power electronics industry plays a crucial role in shaping the way we generate, distribute, and consume electrical energy. Understanding the key statistics and trends in this industry is essential for businesses and professionals looking to stay competitive and innovative. In this blog post, we will delve into the latest statistics and insights that define the landscape of the power electronics industry.
The Latest Power Electronics Industry Statistics Explained
The global power electronics market size was valued at USD 36.93 billion in 2019.
The statistical statement indicates that the total value of the global power electronics market was $36.93 billion in the year 2019. Power electronics refer to the technology and devices used to control and convert electrical power efficiently. The market size represents the total revenue generated from the sale of power electronic components and devices worldwide in that particular year. This statistic provides valuable information about the size and economic significance of the power electronics industry, showing its substantial market value and highlighting its importance within the broader global economy.
It is anticipated that the power electronics market will grow at a compound annual growth rate (CAGR) of 4.0% from 2020 to 2027.
This statistic indicates that the power electronics market is expected to experience continuous growth at an average annual rate of 4.0% from the year 2020 to 2027. The compound annual growth rate (CAGR) reflects the geometric progression of the market size over the specified period. This projection suggests that the demand for power electronics devices, such as converters, inverters, and power supplies, is likely to increase steadily over the next seven years. Factors contributing to this growth may include technological advancements, increasing energy efficiency regulations, the expansion of renewable energy sources, and the adoption of electric vehicles. The 4.0% CAGR signifies a sustained upward trend in the market, illustrating potential investment opportunities and a growing industry landscape for power electronics manufacturers and suppliers.
The Asia Pacific region accounts for the highest revenue share in the overall power electronics market, with over 30% of the total market in 2020.
This statistic indicates that in 2020, the Asia Pacific region generated the largest portion of revenue within the power electronics market, surpassing all other regions. Specifically, over 30% of the total market revenue was attributed to countries within the Asia Pacific region, highlighting the significant economic impact and influence of this region within the power electronics industry. This data suggests that businesses operating in the Asia Pacific region play a crucial role in driving growth and innovation in the global power electronics market.
The industrial sector represented around 39.8% of the power electronics market in 2020.
The statistic indicates that the industrial sector held a significant share of the power electronics market in 2020, accounting for approximately 39.8% of the total market. This suggests that a large portion of power electronics products, such as semiconductors and electrical components used in industrial applications, were consumed by industrial companies for various purposes such as automation, control systems, and power management. The industrial sector’s substantial presence in the power electronics market highlights its reliance on these technologies to support their operations and drive efficiency in manufacturing processes. This statistic is important for market analysis and strategic planning for companies operating in the power electronics industry, as it demonstrates the sector’s influence and demand within the market landscape.
The power modules segment was estimated to be the most lucrative segment in 2020, accounting for 57.7% of the total market.
The statistic indicates that in 2020, the power modules segment was the most financially rewarding segment within its market, accounting for 57.7% of the total market share. This means that a substantial portion of the market’s revenue came from the sales and activities related to power modules. Companies operating in the power modules sector likely experienced significant growth and profitability compared to other segments within the same market. This statistic underscores the importance and dominance of the power modules segment in driving the overall market performance during that period.
Europe’s power electronics market is anticipated to grow at a CAGR of 3.8% during 2021-2026.
This statistic indicates that the power electronics market in Europe is expected to experience a Compound Annual Growth Rate (CAGR) of 3.8% between 2021 and 2026. A CAGR is a measure used to understand the average annual growth rate of a market over a specified period. In this case, the forecast suggests that the power electronics industry in Europe is projected to expand steadily at a rate of 3.8% per year during the mentioned time frame. This growth projection suggests a positive outlook for the industry, indicating potential opportunities for businesses operating within the European power electronics market and highlighting a trend of increasing demand and adoption of power electronics technologies in the region.
The market size for power electronics devices in Japan was estimated to be $6.52 billion in 2020.
The statistic means that the total value of power electronics devices sold in Japan in 2020 was estimated to be $6.52 billion. Power electronics devices are electronic components that are specifically designed to control and convert electrical power efficiently. This market size figure provides insight into the economic significance of power electronics technology within Japan, indicating a substantial demand for such devices within the country during the specified year. This statistic is crucial for companies operating in the power electronics industry, as it helps them understand the size and potential of the market in Japan and make informed decisions regarding marketing strategies, product development, and investment opportunities.
Silicon type power electronics held the largest market share, accounting for over 53% in 2019.
This statistic indicates that within the power electronics industry in 2019, silicon type power electronics dominated the market, holding a significant market share of over 53%. This suggests that silicon-based power electronic devices such as diodes, transistors, and integrated circuits were the preferred choice for various applications in industries such as automotive, telecommunications, and consumer electronics. The high market share highlights the widespread adoption and trust in silicon technology due to its reliability, cost-effectiveness, and efficiency compared to other types of power electronics materials. This statistic underscores the importance and impact of silicon type power electronics in driving technological advancements and meeting the energy management needs of various sectors.
Renewable energy applications are predicted to be one of the fastest-growing segment of the power electronics market, at a CAGR of 7.6% from 2020 to 2027.
This statistic indicates that renewable energy applications are expected to experience significant growth within the power electronics market, with a projected compound annual growth rate (CAGR) of 7.6% from 2020 to 2027. This suggests that the adoption and implementation of renewable energy technologies, such as solar and wind power, are likely to increase at a rapid pace during this time period. The forecasted growth rate implies that there is a growing demand for power electronics solutions tailored for renewable energy applications, reflecting a shift towards cleaner and more sustainable sources of energy generation. This trend highlights the increasing importance and potential profitability of investing in renewable energy technologies within the broader power electronics market.
China held a dominant position in the Asia Pacific power electronics market in 2020 and it is expected to retain its dominance throughout the forecast period.
This statistic indicates that in 2020, China had a significant market share and influence in the power electronics industry within the Asia Pacific region. It suggests that China was the leading player in this market segment and had a strong hold on the market, likely due to various factors such as advanced technology, manufacturing capabilities, and market demand. Moreover, the forecasted projection suggests that China is expected to continue being the dominant force in the Asia Pacific power electronics market for the foreseeable future, indicating sustained competitive advantage and market leadership in the industry.
North America power electronics market is expected to reach USD 11.8 billion by 2026.
The statistic “North America power electronics market is expected to reach USD 11.8 billion by 2026” indicates that the market for power electronics in North America is projected to grow significantly over the next few years. This growth is attributed to factors such as technological advancements, increasing demand for energy-efficient solutions, and the adoption of power electronics in various industries such as automotive, consumer electronics, and renewable energy. The expected market size of USD 11.8 billion suggests that there is a growing market opportunity for companies operating in the power electronics sector in North America, presenting potential for increased investments, innovations, and market expansion in the region.
By 2025 an estimated 80% of electricity will use power electronics somewhere between the point of generation and its end use.
This statistic suggests that by the year 2025, approximately 80% of the electricity generated will pass through power electronics at some stage between its production and final consumption. Power electronics refer to devices that can control and convert electrical power efficiently. These devices are commonly used in various applications such as renewable energy systems, electric vehicles, and industrial machinery to optimize the transmission and consumption of electricity. The high prevalence of power electronics in the electricity grid by 2025 indicates a significant shift towards more efficient and sustainable energy management practices, showcasing the increasing importance of these technologies in modern power systems.
In consumer applications, the power demand for power electronics was around USD 6.05 billion in 2019.
The statistic provided indicates that in 2019, the consumer demand for power electronics equipment reached approximately USD 6.05 billion. This figure represents the total monetary value of power electronics products, such as inverters, converters, and power supplies, that were purchased by consumers during that year. The significant spending in this sector suggests a strong market demand for power electronics, which are crucial components in various consumer electronics and products. The data highlights the importance of power electronics in meeting the power supply needs of modern consumer applications and signals a growing market for these technologies.
The power discrete devices and modules markets reached $21.6 billion in 2019.
The statistic states that the total market value of power discrete devices and modules reached $21.6 billion in the year 2019. This indicates the combined revenue generated by sales of discrete power devices and modules used in various electronic applications such as power management, voltage regulation, and switching. The market size suggests the significant demand for these components driven by industries like automotive, consumer electronics, industrial equipment, and renewable energy. The growth in this market reflects the increasing need for efficient and reliable power solutions in modern technologies, highlighting the importance of power semiconductor devices and modules in advancing electronic systems.
Global power electronics for Electric Vehicles market is expected to account for USD 30 billion by 2026.
The statistic suggests that the global market for power electronics used in electric vehicles is projected to reach a total value of USD 30 billion by the year 2026. This estimate indicates a significant growth opportunity within the industry, likely driven by the increasing demand for electric vehicles worldwide and the importance of efficient power electronics in enabling their operation. The anticipated expansion of this market reflects the ongoing transition towards more sustainable transportation solutions and underscores the pivotal role of power electronics in advancing electric vehicle technology.
In the communication segment, power electronics market was valued at approximately USD 1.54 billion in 2019.
The statistic indicates that the power electronics market within the communication segment had a total market value of around USD 1.54 billion in 2019. This signifies the monetary worth of power electronic products and devices specifically used in the communication industry. It suggests that there is a significant demand for power electronics within communication technologies such as wireless communication, data centers, telecommunications infrastructure, and other related sectors. This statistic provides insight into the size and importance of the power electronics market within the communication industry, highlighting its substantial economic impact and opportunities for growth and investment in this specific market segment.
The global Power Supply in Package (PSiP) and Power Supply on Chip (PwrSoC) market size is expected to reach USD 2.8 billion by 2025 at a CAGR of 25.8%.
The statistic indicates that the global Power Supply in Package (PSiP) and Power Supply on Chip (PwrSoC) market is projected to expand significantly, aiming to reach a total market size of USD 2.8 billion by the year 2025. This growth is forecasted to occur at a Compound Annual Growth Rate (CAGR) of 25.8%, indicating a robust and rapid expansion in the industry. This suggests a strong demand for compact and efficient power supply solutions that offer enhanced performance and integration, driving the market towards substantial growth over the forecast period.
In terms of device type, power ICs are predicted to hold the highest market share and maintain the trend till 2027 in the power electronics market.
This statistic suggests that within the power electronics market, power ICs are forecasted to maintain a dominant position in terms of market share compared to other device types until 2027. Power ICs are expected to continue leading the market due to their versatility, reliability, and efficiency in converting and managing electrical power. This prediction implies that power ICs are likely to remain the preferred choice for various power electronics applications, indicating a sustained demand for these devices in the market over the coming years.
Conclusion
Overall, the statistics presented in the Power Electronics Industry demonstrate the rapid growth and increasing demand for power electronic devices and systems. With a promising future ahead, companies and professionals in this industry have great opportunities for innovation and development in the coming years.
References
0. – https://www.www.alliedmarketresearch.com
1. – https://www.www.statista.com
2. – https://www.www.infoholicresearch.com
3. – https://www.www.grandviewresearch.com
4. – https://www.semiengineering.com
5. – https://www.www.yanoresearch.com
6. – https://www.energy.gov
7. – https://www.www.fortunebusinessinsights.com
8. – https://www.www.mordorintelligence.com
9. – https://www.www.marketresearchfuture.com
