The rising demand for data centers and wireless technologies is fueling the growth of the ICT segment of the power electronics market. For instance, in data centers, cooling of the system consumes approximately 40% of the total electricity.
Sellbyville, DE -- (SBWIRE) -- 10/22/2018 -- Segmentation of the power electronics market by module products is anticipated to experience substantial growth. As the demand for smartphone and handheld, battery devices is anticipated to increase, the demand for these systems is projected to be propelled as a consequence. The demand for the discrete products segment is projected to experience high growth during the forecast timeframe. An increasing number of appliances use auto jumper cables, in which this component is a pre-requisite for the prevention of sparks and electric shocks for destroying the device or causing injury to human life.
The rising consumption of automobiles and consumer electronic devices such as smartphones, laptops, household electronics is anticipated to contribute to the high growth of the power electronics market. This equipment is a basic component in a majority of such devices as switchers, drive motors, among others. The application of these systems can also massively aid in boosting the efficiency of the equipment. For instance, in a washing machine, a variable-speed motor can provide a high-speed spin cycle that will extract the extra water.
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The discrete power electronics market is anticipated to exhibit substantial growth during the forecast timespan as components such as transistors, diodes, and thyristors find increasing applications in every day electronics and consumer systems. Diodes, for instance, have varied use cases as blocking devices in solar charging systems for the prevention of a storage unit such as the battery from discharging through the solar panel.
World Power Electronics Market is set to grow from its current market value of $34 billion to more than $45 billion by 2024, to grow at 4% CAGR
Power Electronics Market, By Product
Power Electronics Market, By Application
- Consumer electronics
- Aerospace & defense
The rising demand for data centers and wireless technologies is fueling the growth of the ICT segment of the power electronics market. For instance, in data centers, cooling of the system consumes approximately 40% of the total electricity. By applying variable speed drives to pumps and air conditioning units, the speed of the systems can be adjusted to match the amount of cooling that is required providing massive energy and cost savings.
The economic boom in the Asia Pacific countries is contributing to the high growth of the power electronics market. The middle-class population is now able to purchase a larger amount of luxury goods and household systems. Furthermore, in industrial and manufacturing settings, these systems are essential components to combat issues pertaining to power losses and current fluctuations through the usage of power regulators, UPS, and inverters.
Smart grids usage impacts the growth of the power electronics market. These systems have high penetration owing to their ability to utilize control systems and digital communications to monitor and control power flows to make the power grid efficient and cost-effective. The applications of power electronics market in smart grids are in the form of thyristors, AC/DC and DC/DC converters, and LED systems.
The high focus on the adoption of EVs is contributing to the high growth of the power electronics market in this segment as they aid in combating issues related to the high particulate matter and greenhouse gases. To facilitate this demand various economies such as China are increasing their expenditure on the development of charging stations. To raise the level of electro-mobility acceptance, the country has initiated the construction and operation of charging stations along their eight prime highways, for instance the connection route between Shanghai and Beijing, that encounter the highest amount of traffic. The country is anticipating that 10,000 charging stations with 120,000 charging points will be active by 2020 and has made an investment of USD 700 million to streamline this initiative providing a very high potential to the growth of the power electronics market.
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Power electronics market players include ENERCON, Fuji Electric Co. Ltd., GE Wind Energy., LLC., Infineon Technologies, Maxim Integrated Products, Inc., Mersen, Methode Electronics, Inc., Microsemi Corporation, Mitsubishi Electric, NXP Semiconductor N.V., ON Semiconductor, Renesas Electronics Corporation, Semikron Electronics GmbH Co., Inc., Stmicroelectronics N.V, Texas Instruments Incorporated, Airbus SE, Apple, Inc., BMW Group, General Electric, General Motors, Haier Corporation, Hewlett-Packard Company, Hitachi Ltd., Honeywell International Inc., LG Corporation, Lockheed Martin Corporation, Samsung Electronics, Sharp Corporation, Schneider Electric, Tesla, Inc., Thales Group, Toyota Motors, Volkswagen AG.
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