Top 15 Companies in Power Electronic Market: Market Research Report (2024–2035)
RELEASE DATE: Jul 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Global Power Electronic Market Size is projected To Grow from USD 48.56 Billion in 2024 to USD 114.23 Billion by 2035, at a CAGR of 8.09% during the forecast period 2025–2035. The market for power electronics has grown significantly in recent years due to a number of causes. First, the adoption of power electronic devices has been fueled by the Growing need for energy-efficient solutions and the increased focus on renewable energy sources.
Introduction
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Power Electronic Market Size & Statistics
The market for power electronic was estimated to be worth USD 48.56 Billion in 2024.
The market is going to expand at a CAGR of 8.09% between 2025 and 2035.
The Global Power Electronic Market is anticipated to reach USD 114.23 Billion by 2035.
North America is expected to generate the highest demand during the forecast period in the power electronic market
Asia Pacific is expected to grow the fastest during the forecast period in the power electronic market.
Regional growth and demand
Asia Pacific is expected to grow the fastest during the forecast period in the power electronic market. China leads the Asia Pacific power electronic industry because it has strong incentives to boost output from depleting oil fields and alleviate its excessive reliance on imported crude. China is starting a lot of EOR projects in their fields, especially in the Daqing, Shengli, and Xinjiang areas, using COa‚‚-EOR, chemical injection, and polymer flooding. In order to help stabilize domestic manufacturing, China is developing EOR technology, with state-owned firms providing significant government money for social programs. China's long-term objective is to maximize oil recovery while developing all facets of contemporary energy security, and these programs are part of that goal.
North America is expected to generate the highest demand during the forecast period in the power electronic market. The electric vehicle (EV) ecosystem in North America is growing quickly due to consumer adoption, infrastructure investments, and robust government incentives. Fast-charging stations, battery management, and EV propulsion systems all depend on power electronics, particularly as automakers move toward 800V platforms and bidirectional converters.
Top 10 trends in Power Electronic Market
- Wide-Bandgap Semiconductor Adoption (SiC & GaN)
- Electrification of Transportation
- Renewable Energy Integration
- 5G & High-Frequency RF Applications
- AI-Driven Power Management
- Miniaturization & High-Density Packaging
- Cybersecurity in Power Systems
- Thermal Management Innovations
- Strategic M&A & Ecosystem Partnerships
- Sustainability & Energy Efficiency
1. Wide-Bandgap Semiconductor Adoption (SiC & GaN)
Silicon carbide (SiC) and gallium nitride (GaN) are replacing traditional silicon due to their superior efficiency, thermal performance, and switching speed. These materials are enabling compact, high-power-density designs in EVs, solar inverters, and fast chargers.
2. Electrification of Transportation
Power electronics are central to electric vehicles (EVs), hybrid systems, and charging infrastructure. The shift to 800V platforms and bidirectional converters is driving demand for advanced modules and integrated power ICs.
3. Renewable Energy Integration
Solar and wind energy systems rely on power electronics for efficient conversion, grid synchronization, and storage. Utility-scale inverters and smart converters are being upgraded to handle higher voltages and fluctuating loads.
4. 5G & High-Frequency RF Applications
GaN-based RF amplifiers are powering 5G base stations and telecom infrastructure. These devices offer higher power-added efficiency and thermal stability, supporting dense urban deployments and low-latency networks.
5. AI-Driven Power Management
Artificial intelligence is being used to optimize energy flow, predict failures, and enhance system reliability. Smart power controllers and adaptive algorithms are improving performance in industrial and consumer electronics.
Empower your strategic planning:
Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the power electronic market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 15 Companies Leading the Power Electronic Market
- ON Semiconductor
- Infineon Technologies
- Texas Instruments
- ABB
- ROHM
- Infineon Technologies
- Fuji Electric
- TDK Corporation
- Rockwell Automation
- Toshiba Corporation
- Eaton Corporation
- STMicroelectronics
- ON Semiconductor
- Power Integrations
- Vicor Corporation
- ON Semiconductor
Headquarters - Texas
ON Semiconductor is a global leader in energy-efficient power solutions, specializing in silicon carbide (SiC) and gallium nitride (GaN) technologies. These wide-bandgap semiconductors enable high-performance applications in electric vehicles, industrial automation, and renewable energy. The company’s Power Solutions Group delivers discrete and integrated devices for power switching, conversion, and protection. ON Semiconductor’s innovations support the electrification of transportation and smart grid development, with a strong focus on miniaturization and thermal management. Its strategic acquisitions and partnerships enhance its presence in the automotive and industrial sectors. With robust R&D and manufacturing capabilities across North America and Asia, ON Semiconductor plays a pivotal role in advancing energy-efficient technologies in the global power electronics ecosystem.
- Infineon Technologies
Headquarters – Germany
A leading semiconductor company in Germany, Infineon Technologies is renowned for its innovative line of power electronics. The company promotes energy efficiency in the automotive, industrial, and renewable energy sectors with its MOSFETs, IGBTs, and SiC-based devices. Innovations in wide-bandgap semiconductors from Infineon enable quick switching and high voltage applications in solar inverters and electric cars. Its cybersecurity characteristics and AI-powered power management systems make it possible to integrate the smart grid and IoT. Leading the way in digital power control and transportation electrification, Infineon operates in North America, Asia, and Europe. Offering scalable solutions for next-generation energy systems, the company's dedication to sustainability and climate goals places it at the forefront of the power electronics industry.
- Texas Instruments
Headquarters – Texas
Texas Instruments is a leading provider of analog and embedded processing solutions, with a strong foothold in power electronics. Its portfolio includes power management ICs, motor drivers, and battery management systems tailored for automotive, industrial, and consumer electronics. Texas Instruments emphasizes energy efficiency and miniaturization, offering high-density packaging and thermal optimization. The company’s GaN-based devices support fast switching and high-frequency applications, including 5G and EV charging infrastructure. With extensive R&D and manufacturing facilities in North America and Asia, Texas Instruments is driving the electrification of transportation and smart automation. Its scalable, reliable, and cost-effective solutions make it a key player in the global power electronics landscape.
- ABB
Headquarters - Switzerland
ABB is a Swiss multinational specializing in automation and power technologies. In power electronics, ABB delivers advanced converters, inverters, and grid integration systems for industrial and renewable energy applications. Its solutions support electrification of transportation, smart grids, and energy storage. ABB integrates wide-bandgap semiconductors and AI-based control systems to enhance efficiency and reliability. The company’s expertise in industrial automation and robotics complements its power electronics offerings, enabling end-to-end energy management. ABB’s commitment to sustainability and digitalization drives innovation in high-voltage direct current (HVDC) systems and smart power infrastructure. With a global footprint and strong engineering capabilities, ABB remains a cornerstone of the evolving power electronics market.
- ROHM
Headquarters - Japan
ROHM is a Japanese semiconductor manufacturer renowned for its precision power components. The company produces SiC MOSFETs, IGBTs, and power ICs for automotive, consumer, and industrial markets. ROHM’s focus on wide-bandgap semiconductors enhances energy efficiency and thermal performance in EVs, solar inverters, and motor drives. Its vertically integrated production model ensures quality and scalability. ROHM collaborates with automotive OEMs and industrial partners to develop next-generation power modules and control systems. The company’s innovations in miniaturization and high-density packaging support compact, high-power applications. With a strong presence in Asia and expanding global reach, ROHM is a key contributor to the electrification and digital transformation of power electronics.
Are you ready to discover more about the power electronic market?
The report provides an in-depth analysis of the leading companies operating in the global power electronic market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
Company Profiles
- ON Semiconductor
Business Overview
Company Snapshot
Products Overview
Company Market Share Analysis
Company Coverage Portfolio
Financial Analysis
Recent Developments
Merger and Acquisitions
SWOT Analysis
- Infineon Technologies
- Texas Instruments
- ABB
- ROHM
- ExxonMobil Corporation
- BP Plc
- TotalEnergies SE
- ConocoPhillips
- Others.
Conclusion
The power electronic market is poised for significant growth from 2024 to 2035, driven by increasing demand for energy-efficient solutions, electric vehicles, and renewable energy integration. Key trends include the adoption of wide-bandgap semiconductors, electrification of transportation, and advancements in AI-driven power management. China and North America are major regions contributing to market expansion, with Asia Pacific leading in growth. Leading companies like ON Semiconductor, Infineon, and ABB are at the forefront of innovation. Overall, the market presents substantial opportunities for technological advancements and strategic collaborations.
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