The Europe Power Electronics Market would witness market growth of 4.0% CAGR during the forecast period (2021-2027).
Power electronics are instrumental in electrified vehicle applications, which offer high-efficient and compact solutions to power conversion. Power electronics refers to the circuitry device, which can convert power from one source to a load in a compact, effective, and robust way to facilitate optimum usage. Along with that, this device is utilized to regulate the conversion of electric power by utilizing transistors, diodes, and thyristors.
The production of renewable energy, advancements in energy infrastructure, and energy-efficient compact electronics components are some of the key aspects fueling the growth of the power electronics market. Specifically, silicon carbide (SiC) and gallium nitride (GaN) are appropriate for utilization in power electronics.
The strong automotive industry of the region along with the presence of numerous key market players is estimated to spur the growth of the regional power electronics market over the forecast period. In addition, the capabilities of these power electronics such as ensuring efficient delivery of power to provide high reliability, security, and flexibility to the power system help in converting prevailing electrical grids into next-generation networks.
The Germany market dominated the Europe Consumer Electronics Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,249 million by 2027. The UK market is exhibiting a CAGR of 2.1% during (2021 - 2027). Additionally, The France market would witness a CAGR of 3.7% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Power Electronics Market Size will Hit $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.
By Application
By Device type
By Material
By Country
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