© 2016 Global Market Insights, Inc. USA. All Rights Reserved Fuel Cell Market size worth $25.5bn by 2024 Power Electronics Market to surpass $45bn by 2024: Global Market Insights, Inc.

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Power Electronics Market size was approximately USD 34 billion in 2016, and to exceed USD 45 billion by 2024; according to a new research report by Global Market Insights, Inc. The high demand for alternative energy systems such as solar, wind, and geothermal over conventional power sources will drive the power electronics market. This is largely due to the increase in pollution rates that is resulting in reduced life expectancies and physical ailments among the general population.  The high growth of industrialization in the Asia Pacific is causing cities such as Rawalpindi, Kolkata, Delhi, and Beijing to experience an increase in air pollution rates. To combat this situation, governments across the world are initiating stringent regulations restricting the emission of particulate matter above a certain specified range, aiding power electronics market growth. For instance, the SO2 emissions impacting the cement industries range from 50mg/cubic Nm in Germany to 400mg/cubic Nm in Egypt.  The increase in terrorist attacks and criminal activities across the world is leading to an increase focus on the development of new and advanced defense technologies. The development of defense systems such as missiles, high altitude platforms, satellites, communication technologies, and combat land and air vehicles are driving the growth of the power electronics market. Key Insights from Power Electronics Market:

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  UAVs, for instance, are required to stay operational for prolonged periods of time without the provision of constant fueling and charging stations. To tackle this issue, these systems are either equipped with battery, powered storage units or solar panels, both of which requires DC-DC convertors and powertrains to function.  The discrete power electronics market is anticipated to exhibit substantial growth during the forecast timespan as components such as transistors, diodes, and thyristors find increasing applications in every day electronics and consumer systems. Diodes, for instance, have varied use cases as blocking devices in solar charging systems for the prevention of a storage unit such as the battery from discharging through the solar panel.  The rising demand for data centers and wireless technologies is fueling the growth of the ICT segment of the power electronics market. For instance, in data centers, cooling of the system consumes approximately 40% of the total electricity. By applying variable speed drives to pumps and air conditioning units, the speed of the systems can be adjusted to match the amount of cooling that is required providing massive energy and cost savings. Continued...

© 2016 Global Market Insights, Inc. USA. All Rights Reserved U.S. power electronics market size, by product, 2016 & 2024 ($Mn)

© 2016 Global Market Insights, Inc. USA. All Rights Reserved Browse Full Market Research Report of Power Electronics Request for a Sample of this Research

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Governments are also pushing the provision of grants and VAT exemptions for electric vehicle owners to increase the adoption and decrease the total cost of ownership. For instance, the UK government offers consumers financial incentives in the form of grants and subsidies upwards of USD 5,944 for these vehicles.  Also, ownership cost of fully-electric vehicles is reduced with owners of vehicles that cost less than USD 52,844 to be exempted from paying annual road taxes. The presence of such initiatives and plans is anticipated to drive the power electronics market.  The economic boom in the Asia Pacific countries is contributing to the high growth of the power electronics market. The middle-class population is now able to purchase a larger amount of luxury goods and household systems. Furthermore, in industrial and manufacturing settings, these systems are essential components to combat issues pertaining to power losses and current fluctuations through the usage of power regulators, UPS, and inverters. Regional Growth

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Semikron Electronics GmbH & Co., Inc.  Renesas Electronics Corporation  Texas Instruments Incorporated  ON Semiconductor  NXP Semiconductor N.V.,  Methode Electronics Inc.  Microsemi Corporation  Maxim Integrated Products, Inc. Major Companies in Power Electronics Market:

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