The North America Power Electronics Market would witness market growth of 4.2% CAGR during the forecast period (2021-2027).
Power electronics can also be utilized as amplifiers or switches. A perfect switch can be open or closed and thus, dissipates no power, which means that it can bear an applied voltage and transfer no current, or transfers a certain amount of current with no voltage drop. On the other hand, the current via the device may differ constantly as per the controlled input, in the case of the amplifier.
The integration of power electronic products into various kinds of energy conversion applications has increased in the past few years. These devices are required in every phase of the conversion process, from generation via transmission and, eventually, consumption.
Due to this rising demand for power electronic devices, regional power electronics would witness a surge in growth. Additionally, the increasing inclination of the consumers across this region towards the adoption of energy-saving applications with renewable power supplies would augment the growth of the regional power electronics market.
The Consumer Electronics market dominated the North America Power Electronics Market by Application in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $4,505.6 million by 2027. The Automotive & Transportation market is expected to witness a CAGR of 3.5% during (2021 - 2027). Additionally, The Industrial market would exhibit highest CAGR of 4.6% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Power Electronics Market is Estimated 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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