Power Electronics Market: Top 10 Companies Leading Market Expansion 2026-2034
Power Electronics Market was valued at USD 41.14 billion in 2024 and is projected to reach USD 92.73 billion by 2032 , exhibiting a CAGR of 12.7% during the forecast period. This robust expansion is detailed in a comprehensive new report published by Semiconductor Insight. The study underscores the indispensable role of power electronic components in driving the global transition to energy-efficient systems, particularly within the automotive, renewable energy, and industrial sectors. Power electronics, which are crucial for controlling and converting electrical power, form the backbone of modern electrification. These components are becoming vital across numerous applications because they enable precise management of voltage, current, and frequency, which is fundamental to improving overall system performance and energy savings. Electric Vehicle Revolution: The Primary Growth Engine The report identifies the unprecedented global shift to electric vehicles as the dominant force prop...