Power Electronics Industry Report 2025-2035: Market Trends And Global Forecasts - Renewable Energy Solutions And Stronger Initiatives Targeting Energy Efficiency Driving Expansion

(MENAFN- GlobeNewsWire - Nasdaq) The power electronics market presents growth opportunities driven by EV adoption, smart grid advancements, and rising demand for renewable energy solutions. The automotive sector, silicon carbide materials, and medium voltage segments are expected to see high growth, particularly in North America and Asia.

Dublin, April 20, 2026 (GLOBE NEWSWIRE) -- The "Power Electronics Market, Till 2035: Distribution by Type of Device, Type of Material, Type of Voltage, Type of End User, and Geographical Regions: Industry Trends and Global Forecasts" report has been added to ResearchAndMarkets's offering.
The global power electronics market size is estimated to grow from USD 39.46 billion in the current year to USD 71.58 billion by 2035, at a CAGR of 5.56% during the forecast period, till 2035.
Power electronics is a multidisciplinary domain within electrical engineering that focuses on the design, study, and control of electronic devices and circuits used to efficiently convert, regulate, and manage electrical power. The core objective of this field is to create compact, reliable, and cost-effective solutions for energy conversion and control across various applications. Power electronic systems function by handling high voltages and currents to supply power to diverse electrical equipment and devices.
Key components in this field include power ICs, discrete devices, power diodes, transistors, power modules, and gate turn-off thyristors. The development of advanced technologies, such as intelligent power modules, has further expanded the applications of power electronics - from consumer products and industrial power management to battery management systems and beyond.
With the rapid adoption of electric vehicles, advancements in smart grid infrastructure, and the integration of renewable energy sources, the importance of power electronics has increased significantly. By 2030, it is estimated that nearly 80% of global electric power generation and consumption will be enabled by power electronics technology.
Consequently, the power electronics market is poised for substantial growth in the coming years. Rising demand for renewable energy solutions and stronger initiatives targeting energy efficiency are among the key driving forces shaping this expansion. Further, owing to the growing awareness of energy conservation and environmental sustainability worldwide, the power electronics market is expected to grow significantly during the forecast period.

Asia captures the majority share of the market, driven by the rapid industrialization, consumer electronics demand, and large-scale renewable energy adoption. In contrast, the market in North America is expected to grow at relatively higher CAGR during the forecast period. This can be attributed to the strong automotive industry, a well-established industrial base, and considerable investments in renewable energy.
Power Electronics Market: Key Segments

Market Share by Type of Device
Based on type of device, the global power electronics market is segmented into power discrete devices, power integrated circuits, and power modules. According to our estimates, currently, the power discrete segment captures the majority of the market share. This can be attributed to the wide-ranging applications of discrete components such as metal-oxide-semiconductor field-effect transistors (MOSFETs) and insulated gate bipolar transistors (IGBTs), which are extensively used in low- to medium-power applications.
On the other hand, the power integrated circuits segment is expected to grow at a higher CAGR during the forecast period, owing to the rising demand across consumer electronics and the significant expansion of the automotive electronics sector.
Market Share by Type of Material
Based on type of material, the global power electronics market is segmented into gallium nitride, silicon, and silicon carbide. According to our estimates, currently, the silicon segment captures the majority of the market share during the forecast period. This can be attributed to its long-standing position as the industry's standard material, supported by well-established manufacturing processes, cost-effectiveness, and a wide range of applications, which continue to sustain strong demand worldwide.
However, the silicon carbide (SiC) segment is anticipated to grow at a relatively higher rate during the forecast period. This growth can be attributed to the superior performance of SiC in high-temperature and high-voltage applications, making it particularly suitable for use in electric vehicles, solar inverters, and industrial motor drives.
Market Share by Type of Voltage Range
Based on type of voltage range, the global power electronics market is segmented into high voltage, low voltage, and medium voltage. According to our estimates, currently, the low voltage segment captures the majority of the market share. This can be attributed to the strong demand from consumer electronics. Devices such as smartphones, wearables, and other consumer applications typically operate within the low-voltage range (up to 1000V).
However, the medium voltage segment is anticipated to grow at a relatively higher rate during the forecast period. This growth is primarily associated with its extensive adoption in industrial motors, power distribution systems, and heavy machinery, where efficient power management at medium voltage is critical.
Market Share by Type of End User
Based on type of end user, the global power electronics market is segmented into automotive, biomedical & healthcare, consumer electronics, electronics, industrial, renewable energy, telecom, and others. According to our estimates, currently, the consumer electronics segment captures the majority of the market share. This can be attributed to the rising demand for energy-efficient devices and components such as converters, voltage regulators, and advanced power management systems.
On the other hand, the automotive sector is expected to grow at a higher CAGR during the forecast period, fueled by the increasing penetration of electric and hybrid vehicles.

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• The report provides a comprehensive market analysis, offering detailed revenue projections of the overall market and its specific sub-segments. This information is valuable to both established market leaders and emerging entrants.
• Stakeholders can leverage the report to gain a deeper understanding of the competitive dynamics within the market. By analyzing the competitive landscape, businesses can make informed decisions to optimize their market positioning and develop effective go-to-market strategies.
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Key Questions Answered in this Report

• How many companies are currently engaged in power electronics market?
• Which are the leading companies in this market?
• What factors are likely to influence the evolution of this market?
• What is the current and future market size?
• What is the CAGR of this market?
• How is the current and future market opportunity likely to be distributed across key market segments?

Company Profiles

• ABB
  • Company Overview
  • Company Mission
  • Company Footprint
  • Management Team
  • Contact Details
  • Financial Performance
  • Operating Business Segments
  • Service / Product Portfolio (project specific)
  • MOAT Analysis
  • Recent Developments and Future Outlook
• Allegro Microsystems
• Analog Devices
• Applied Energy Systems
• Diodes Incorporated
• Eaton
• Fuji Electric
• Infineon Technologies
• Maxim Integrated
• Microchip Technology
• Mitsubishi Electric
• NXP Semiconductors
• ON Semiconductor
• Siemens
• Sila Nanotechnologies
• STMicroelectronics
• Texas Instruments
• Toshiba
• Vishay

Additional Benefits

• Complimentary Excel Data Packs for all Analytical Modules in the Report
• 15% Free Content Customization
• Detailed Report Walkthrough Session with the Research Team
• Free Update if the Report is 6+ Months Old

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