Power Electronics Market Size and Growth
The global power electronics market has become crucial to modern infrastructure, encompassing key applications like renewable energy systems, electric vehicles, and industrial automation. As of 2023, the market size was valued at approximately USD 38.12 billion, with a projected CAGR of around 5.2%, likely reaching USD 54.69 billion by 2030 due to advancements in energy efficiency and demand for sustainable power solutionsth & Size The power electronics market is expanding steadily, driven by increased demand for efficient power management across industries.
Companies Covered : (Covid-19 Impact Covered)
• Infineon Technologies AG
• Texas Instruments Inc
• ON Semiconductor Corporation
• STMicroelectronic N.V
• Mitsubishi Electric Corporation
The power electronics market is positioned for continuous growth, backed by advancements in technology and a global shift toward sustainability. As companies focus on efficient energy management and increased performance, the power electronics sector will remain integral to innovations across multiple industries, shaping the future of global power solutions.
