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Power Electronics Market estimated to grow at CAGR of 4.4% by 2026

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The Power Electronics Market is projected to grow from USD 37.4 billion to USD 46.3 billion between 2021 and 2026, with a CAGR of 4.4%.

By 2026, the Power Electronics Market is anticipated to rise from USD 37.4 billion in 2021 to USD 46.3 billion, expanding at a CAGR of 4.4%. The main market drivers for power electronics are anticipated to be the rising usage of power electronics in consumer products, the rapid development of EVs, and increased deployment of renewable energy sources. Furthermore, it is anticipated that increased production of wide bandgap semiconductors would present potential for market expansion over the long run.

The Power Electronics Market is a developed industry with a crowded field of competitors. New product releases and deals are two major tactics used by leading players to expand their presence in the market, grow their market share, and improve their product portfolios. For instance, in July 2020, STMicroelectronics (Switzerland) introduced 26 new Schottky diodes with voltage ratings ranging from 25 to 200V and current ratings ranging from 1 to 5A. These devices were housed in low-profile SMA and SMB Flat packages. These surface-mount Schottky diodes with a low profile increase power density and efficiency. Six new products in a D2PAK true 2-pin package were added to Infineon's CoolSiC Schottky diode 1200V line in March 2020. The diodes are ideal for uses including solar string inverters, uninterruptible power supply, industrial power supplies, and DC charging stations. An deal to develop and deliver silicon carbide material worth USD 50 million was signed between GT Advanced Technologies (US) and ON Semiconductor (US) in March 2020. The agreement is valid for 5 years. As a result of this arrangement, GT Advanced Technologies will manufacture and provide its CrystX silicon carbide (SiC) material to ON Semiconductor, a leader in advancing energy-efficient innovations, for use in fast-growing markets and applications.

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One of the major companies in the semiconductor solutions industry is Infineon Technologies, also known as Infineon. The business is committed to providing effective energy generation, transmission, and consumption for the market's sustainability and empowerment. Through its four main business divisions—Automotive, Industrial Power Control, Power Sensor Systems, and Connected Secure Systems—Infineon provides power electronics devices that are essential to boosting energy efficiency throughout the whole energy conversion chain. Power semiconductors, microcontrollers, security controllers, radio frequency equipment, and sensors are among the company's product lines. MOSFETs, IGBTs, linear voltage regulators, DC-DC converters, diodes thyristors, and intelligent power modules are just a few of the power electronics products that Infineon offers. These products are used in a variety of applications, such as switched-mode power supplies (SMPS), computing, motor control and drives, consumer electronics, mobile devices, lighting solutions, and automobiles. The business additionally makes use of silicon- and gallium-based goods to boost the effectiveness and performance of power electronics. The business targets the automotive, industrial, communications, consumer, and security electronics sectors with its products. Globally, in the Americas, Europe, the Middle East, and Asia Pacific, Infineon Technologies conducts business. The company has 21 manufacturing facilities and 54 research and development (RD) facilities spread across the globe. Infineon Technologies Delta (Germany), Infineon Technologies Taiwan (Taiwan), and Infineon Technologies Holding are a few of the company's subsidiaries (Netherlands).

Motorola created ON Semiconductor as a spinoff business (US). With a wide range of energy-efficient power and signal management, logic, standard, and bespoke devices available, it is one of the market's leading players in the power electronics sector. Power Solutions Group, Analog Solutions Group, and Intelligent Sensing Group are the company's three main business segments. The business is a top provider of semiconductor-based solutions, providing a wide range of energy-efficient power management, discrete, SoC, and bespoke devices, as well as analogue, sensors, logic, timing, and connection. Power switching, power conversion, signal conditioning, circuit protection, signal amplification, and voltage reference tasks are just a few of the many application functions that the Power Solutions Group segment's discrete, module, and integrated semiconductor products can handle. A wide range of end users in the automotive, consumer, computing, industrial, communications, medical, and aerospace defence markets use the analogue, mixed-signal, and advanced logic application-specific integrated circuits (ASICs), application-specific standard products (ASSPs), and power solutions that the Analog Solutions Group designs and develops. Through numerous manufacturing facilities and sales centres positioned throughout North America, Europe, and Asia Pacific, ON Semiconductor manages a global supply chain. Fairchild Semiconductor International, Semiconductor Components Industries, ON Semiconductor Holding, and ON Semiconductor Japan are a few of ON Semiconductor's subsidiaries (Japan).

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