DELRAY BEACH, Fla., Aug. 12, 2025 /PRNewswire/ -- The power electronics market is expected to reach USD 67.42 billion by 2030 from USD 51.73 billion in 2025, at a CAGR of 5.4% during the forecast period according to a new report by MarketsandMarkets. The market is driven by increasing demand for clean energy solutions, the electrification of transportation, and advancements in wide-bandgap semiconductors such as SiC and GaN. Growing adoption of smart grids, rising investment in renewable power infrastructure, and the global push for energy conservation and carbon emission reduction further propel the market growth.
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Browse in-depth TOC on "Power Electronics Market"
197 - Tables
68 - Figures
265 - Pages
Power Electronics Market Scope:
Report Coverage | Details |
Market Revenue in 2025 | $ 51.73 billion |
Estimated Value by 2030 | $ 67.42 billion |
Growth Rate | Poised to grow at a CAGR of 5.4% |
Market Size Available for | 2021-2030 |
Forecast Period | 2025-2030 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Device Type, Material, Voltage Level, Vertical, and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Difficulties in designing and packaging SiC power devices |
Key Market Opportunities | Increased adoption of wide bandgap semiconductor materials |
Key Market Drivers | Widespread adoption of renewable power sources |
The automotive & transportation segment is expected to exhibit the highest CAGR during the forecast period.
The automotive & transportation segment is expected to witness the highest CAGR during the forecast period due to the growing adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs), increasing integration of advanced driver-assistance systems (ADAS) and infotainment, and the ongoing shift toward vehicle electrification and smart mobility solutions. Growing EV and HEV adoption significantly increases demand for power electronics components such as inverters, converters, and battery management systems, as these are essential for ensuring energy efficiency, optimized power distribution, and reliable vehicle performance. As EVs become more mainstream, the need for efficient power conversion and control technologies continues to grow, boosting demand for advanced power electronics. Simultaneously, increasing integration of ADAS and infotainment systems requires compact and efficient power electronic solutions to manage and distribute power seamlessly across increasingly complex vehicle architectures. Furthermore, the ongoing shift toward vehicle electrification and smart mobility encourages automakers to adopt power electronics that support reduced emissions, real-time monitoring, and enhanced safety features. This trend is also accelerating the development of autonomous and connected vehicles, which rely heavily on power electronics.
The power integrated circuits (ICs) segment is expected to account for the largest market share during the forecast period.
Power ICs hold the largest market share of the overall market during the forecast period due to their widespread use in consumer electronics, growing demand for energy-efficient devices, and increasing integration in automotive, industrial, and telecommunication applications. Power ICs are essential components in smartphones, laptops, tablets, and other consumer gadgets, where they manage power supply, battery charging, and energy efficiency. As global consumption of electronic devices continues to surge, particularly in emerging economies, the demand for power ICs is rising proportionately. Furthermore, the increasing emphasis on energy-efficient electronics across industries is accelerating the adoption of power ICs, as they help reduce energy loss, extend battery life, and support eco-friendly designs. These trends make power ICs indispensable across diverse verticals, reinforcing their dominance in the power electronics market and driving their large-scale deployment during the forecast period.
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Asia Pacific is projected to dominate the global market during the forecast period.
Asia Pacific region holds the largest share in the global power electronics industry during the forecast period due to the presence of major electronics manufacturing hubs, rapid industrialization and urbanization, and growing demand for electric vehicles (EVs) and renewable energy systems. Countries like China, Japan, South Korea, and Taiwan serve as global electronics manufacturing powerhouses, enabling high-volume production and consumption of power electronics components across consumer electronics, industrial machinery, and automotive applications. Additionally, rapid industrialization and urbanization in emerging economies such as India, Vietnam, and Indonesia are fueling infrastructure development, manufacturing expansion, and the rise of smart cities, all of which demand advanced, power-efficient technologies. Furthermore, the region is experiencing a surge in the adoption of EVs and renewable energy systems, supported by government policies, environmental concerns, and investments in green technologies. This is leading to increased deployment of power electronic devices such as inverters, converters, and energy management systems in solar, wind, and electric transportation systems.
The report profiles key players in power electronics companies such as Infineon Technologies AG (Germany), Texas Instruments Incorporated (US), Semiconductor Components Industries, LLC (US), STMicroelectronics (Switzerland), Analog Devices, Inc. (US), Mitsubishi Electric Corporation (Japan), Renesas Electronics Corporation (Japan), TOSHIBA CORPORATION (Japan), Fuji Electric Co., Ltd. (Japan), and Vishay Intertechnology, Inc. (US). These players have adopted various organic and inorganic growth strategies such as product launches, expansions, acquisitions, partnerships, collaborations, agreements, and investments.
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