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Power Electronics Market Size Forecast Points To $64.15 Billion In Revenue By 2030
The power electronics market has experienced robust expansion in recent years. This market is projected to expand from $49.78 billion in 2025 to $52.39 billion in 2026, achieving a compound annual growth rate (CAGR) of 5.3%. Historically, this growth stemmed from factors such as the early adoption of diode and thyristor devices, their integration into consumer electronics power supplies, increasing application in industrial motor drives, dependence on silicon-based switching technologies, and the broadening of UPS and power management systems.
The power electronics market is projected to experience substantial expansion over the upcoming years. It is anticipated to reach $64.15 billion in 2030, exhibiting a compound annual growth rate (CAGR) of 5.2%. This anticipated growth during the forecast period stems from factors such as increasing demand for sic and gan-based devices, greater integration into automotive electrification, the widening scope of renewable power incorporation, advancements in compact high-voltage modules, and the proliferation of intelligent energy management solutions. Key developments expected during this period involve the embrace of high-efficiency power conversion technologies, the broadening of intelligent power management platforms, the creation of IoT-enabled energy control systems, enhancements in AI-assisted thermal management, and the proliferation of electrification-driven power modules.
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Power Electronics Market Driver Analysis: Key Factor Supporting Revenue Growth
The power electronics market is projected to expand significantly due to the increasing sales of smart electronic devices. These devices are electronic gadgets connected to the internet, allowing for remote operation via a companion application or voice commands. They stimulate innovation and drive a greater need for power management and smart energy solutions, thereby boosting the power electronics industry. For instance, according to Smart Home Statistics in May 2023, global smart device shipments by 2025 are expected to include smart lighting systems (26%), security cameras (23%), smart speakers (19%), smart TVs (14%), and other smart devices (18%). Therefore, the escalating sales of smart electronic devices will fundamentally support the growth of the power electronics market.
Power Electronics Market Segmentation Framework: Major Segments At A Glance
The power electronics market covered in this report is segmented –
1) By Product: Discrete, Module
2) By Material: Silicon, Silicon Carbide, Gallium Nitride
3) By Voltage: Low Voltage, Medium Voltage, High Voltage
4) By Application: Power Management, UPS, Renewable, Other Applications
5) By End User Industry: Automotive, Consumer Electronics, IT and Telecommunication, Military And Aerospace, Industrial, Energy And Power, Other End Use Industries
Subsegments:
1) By Discrete: Diodes, Transistors, Thyristors, Rectifiers
2) By Module: Power Modules, Intelligent Power Modules (IPMs), Multi-Chip Modules (MCMs)
Latest Power Electronics Market Developments And Emerging Trends
Technological advancements represent a key trend increasing in popularity within the power electronics market. This involves the discovery of knowledge that further develops technology, with major companies in the power electronics industry concentrating on evolving advanced technologies to address consumer demands. For instance, in September 2023, STMicroelectronics, a Switzerland-based electronics and semiconductors manufacturer, unveiled a new category of IGBTs featuring a breakdown-voltage capability of 1350 V and a maximum operating temperature of 175°C, thereby enhancing design margins, performance, and overall reliability. The STPOWER IH2 series also improves power conversion efficiency, thanks to a low saturation voltage that reduces power dissipation and a freewheeling diode designed to boost efficiency in quasi-resonant converters functioning between 16 kHz and 60 kHz. These IGBTs are well-suited for induction heating applications in household appliances, capable of achieving up to an 11% reduction in power dissipation in 2 kW applications.
Which Companies Are Shaping The Power Electronics Market?
Major companies operating in the power electronics market are ABB Ltd., Fuji Electric Co. Ltd., Infineon Technologies AG, Microsemi Corporation, Mitsubishi Electric Corporation, Renesas Electronics Corporation, STMicroelectronics, Texas Instruments incorporated, Toshiba Corporations, Vishay Intertechnology, NXP Semiconductors, GaN Systems Inc., Littelfuse Inc., Maxim Integrated, ROHM Co. Ltd., Transphorm Inc., ON Semiconductor Corporation, Microchip Technology Inc., UnitedSiC Inc., Wolfspeed Inc., IXYS Corporation, Power Integrations Inc., Cree Inc., Diodes Incorporated, Semtech Corporation, Analog Devices Inc., Fairchild Semiconductor International Inc., International Rectifier Corporation, Linear Technology Corporation, Monolithic Power Systems Inc., Powerex Inc., Silicon Laboratories Inc., Sanken Electric Co. Ltd., TDK Corporation, Vicor Corporation, Yaskawa Electric Corporation, Murata Manufacturing Co. Ltd., Panasonic Corporation
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Power Electronics Market Regional Distribution: Where Is Revenue Concentrated?
Asia-Pacific was the largest region in the power electronics market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the power electronics market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
