The Latin America, Middle East and Africa Power Electronics Market would witness market growth of 6.7% CAGR during the forecast period (2021-2027).
Power electronics devices can vary in size from a switched-mode power supply of an AC adapter, audio amplifiers, battery chargers, fluorescent lamp ballasts, via changing frequency drives. The DC motor drives are utilized to run fans, pumps, and manufacturing machinery, with high voltage direct current power transmission systems that are utilized to connect electrical grids.
The demand for power electronics devices is witnessing a surge due to the increasing requirement for power-efficient devices across various end-user industries like telecom infrastructure and automotive. Along with this, these devices are also used in data centers and as 5G devices, which would accelerate the growth of the power electronics market.
Power electronic devices help in regulating and converting electric power in various devices across different industrial verticals like consumer electronics, automotive, healthcare, and others. These devices help in saving energy and offer better functionalities, which would attract more end-users towards its adoption and thus, creating lucrative growth opportunities for the regional market players in the upcoming years.
The Power IC market dominated the LAMEA Power Electronics Market by Device Type in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,380.9 million by 2027. The Power Module market is experiencing a CAGR of 6.5% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Power Electronics Market is Predict to reach $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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