Power Electronics Market Set for Growth Owing to Renewable Integration

The Global Power Electronics Market is estimated to be valued at US$ 51.01 Bn in 2025 and is expected to exhibit a CAGR of 5.9% over the forecast period 2025 to 2032.

The power electronics market comprises semiconductor-based devices and systems that control and convert electric power efficiently across applications such as renewable energy, electric vehicles, industrial drives, and consumer electronics. These products—including inverters, converters, rectifiers, and power modules—offer advantages such as higher energy efficiency, reduced heat loss, compact design, and enhanced reliability.

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Power Electronics Market is driven by rising adoption of renewable energy

The global power electronics market is estimated to be valued at US$ 51.01 Bn in 2025 and is expected to exhibit a CAGR of 5.9% over the forecast period 2025 to 2032.

The power electronics market consists of power semiconductor switches and modules, diodes, thyristors, rectifiers, and IGBTs that are used in various industrial and consumer applications. These components allow efficient control and conversion of electric power while improving system reliability and safety. They are used in devices ranging from power tools, electric vehicles and renewable energy systems to industrial robots, motor drives, and UPS.

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