The Asia Pacific Power Electronics Market would witness market growth of 4.5% CAGR during the forecast period (2021-2027).
There has been a significant rise in the usage and capability of power electronic devices from the last few years, the advanced power electronics are now used widely to perform numerous functions like amplification, rectification, control, and generation.
There are certain medical devices that utilize power electronics including EEG (electroencephalograph) that is utilized to record the electrical activity of the brain, ECG (electrocardiograph) that is used to investigate the condition of a patient’s heart, EMG (electromyograph) that determine the activity of the muscles, X-ray machine which helps in taking pictures of internal bone structure. Moreover, this device is also utilized in the treatment of certain diseases across the medical industry.
The presence of key market players in this region is one of the aspects propelling the growth of the regional power electronics market. In addition, China is among the leading countries that have a huge manufacturing sector for various electronic items. These electronic devices are majorly embedded with power electronic devices and thus, fueling the growth of the regional power electronics market in the coming years.
The Power IC market dominated the Asia Pacific Power Electronics Market by Device Type in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $7,733.2 million by 2027. The Power Module market is anticipated to grow a CAGR of 4.3% during (2021 - 2027).
Based on application, the market is classified into consumer electronics, industrial, automotive & transportation, ICT, aerospace & defense, and others. Based on Device type, the market is segmented into power discrete, power module, and power IC. Based on Material the market is divided into silicon, silicon carbide, and gallium nitride. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Power Electronics Market is Projected to reach USD 46.81 billion by 2027, at a CAGR of 4.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include NXP Semiconductors N.V., Infineon Technologies AG, Texas Instruments, Inc., Toshiba Corporation, Renesas Electronics Corporation, ON Semiconductor Corporation, STMicroelectronics N.V., Mitsubishi Electric Corporation, Fuji Electric Co. Ltd. (Furukawa Group), and ABB Group.
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