Power Electronics Market Size and Share
Power Electronics Market Analysis by Mordor Intelligence
The power electronics market size stood at USD 26.84 billion in 2025 and is forecast to reach USD 38.23 billion by 2030, reflecting a 7.33% CAGR during the period. Continued migration from legacy silicon systems toward silicon-carbide and gallium-nitride solutions underpins this advance, enabling higher efficiency, power density, and smaller form factors in critical applications. Demand accelerated as automakers scaled electric-vehicle production, utilities upgraded renewable-energy inverters, and data-center operators adopted high-voltage direct-current architectures. Wide-bandgap adoption also benefited from regional policy support that encouraged domestic semiconductor manufacturing and electric-mobility infrastructure. Meanwhile, supply-chain diversification initiatives, especially across Asia-Pacific, bolstered localized production of substrates, epitaxy, and advanced packaging, reducing lead times and transportation risk.
Key Report Takeaways
- By component, discrete devices led with 46.3% revenue share in 2024, while modules recorded the fastest 8.6% CAGR through 2030.
- By device type, MOSFETs captured 44.1% of the power electronics market share in 2024 and are expanding at a 9.1% CAGR.
- By material, silicon retained a 90.6% share in 2024; silicon carbide is advancing at a 15.7% CAGR.
- By end-user industry, consumer electronics held a 28.2% share in 2024, whereas automotive applications posted a 13.3% CAGR.
- By geography, Asia-Pacific accounted for 54.4% revenue share in 2024 and is rising at a 10.2% CAGR.
Global Power Electronics Market Trends and Insights
Drivers Impact Analysis
Driver | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
---|---|---|---|
Accelerated Adoption of SiC/GaN Devices in EV Fast-Charging Infrastructure across Europe | +1.8% | Europe, North America | Medium term (2-4 years) |
Large-Scale Solar and Wind Farm Inverter Upgrades in Asia Driving High-Voltage Power Modules | +1.2% | Asia-Pacific, Middle East | Long term (≥ 4 years) |
5G Base-Station Roll-outs Requiring High-Efficiency RF Power Amplifiers in North America | +0.9% | North America, Asia-Pacific | Short term (≤ 2 years) |
Electrification of Industrial Motor Drives Exceeding 7.5 kW in South-East Asia | +1.1% | Asia-Pacific | Medium term (2-4 years) |
Grid-Level Battery Storage Programs in China Boosting Bidirectional Power Converters | +0.8% | Asia-Pacific, spill-over to Global | Long term (≥ 4 years) |
U.S. DoD Modernization Toward All-Electric Platforms Stimulating Rugged Power Electronics | +0.6% | North America | Long term (≥ 4 years) |
Source: Mordor Intelligence
Accelerated adoption of SiC and GaN devices in EV fast-charging infrastructure
European charging-network operators prioritized 800 V architectures that require 1,200 V and 1,700 V SiC MOSFETs to meet grid-connection efficiency targets. Projects backed by incentive programs are standardized on SiC power stages that cut energy losses and shrink cooling subsystems. Collaboration between system integrators and semiconductor suppliers shortened design cycles, while alliance agreements with automotive OEMs ensured long-term volume commitments. Interoperability regulations further created a level playing field that favors modular, high-density chargers based on wide-bandgap devices. Successful deployments draw global attention, positioning Europe as the reference market for next-generation fast-charging solutions.[1]Navitas Semiconductor, “NVIDIA Selects Navitas to Collaborate on Next Generation 800V HVDC Architecture,” navitassemi.com
Large-scale solar and wind farm inverter upgrades in Asia
Utility-scale solar farms in China, India, and Vietnam replaced legacy silicon inverters with SiC-based modules that withstand high switching frequencies in hot, humid environments. Wolfspeed’s latest utility modules provided the thermal-cycling reliability demanded by centralized 3 MW to 5 MW inverters. Offshore wind developers adopted similar power stages to meet size and weight limits on turbine nacelles. Regional contract manufacturers localized assembly to avoid import duties, accelerating price parity with conventional silicon alternatives. These upgrades align with government renewable portfolio standards, keeping energy tariffs competitive across emerging economies.
5G base-station roll-outs requiring high-efficiency RF power amplifiers
Millimeter-wave deployments in dense urban corridors demanded GaN HEMT devices that deliver higher power-added efficiency than silicon LDMOS. Network vendors specified GaN front-end modules to reduce thermal loads and extend radio coverage per site. Supply agreements between component makers and telecom operators guaranteed multiyear shipments, de-risking capacity expansion. Defense-grade GaN technology simultaneously progressed, supplying ruggedized devices that eventually migrate into civilian base-station designs. The resulting economies of scale further reduce cost barriers for commercial roll-outs.
Electrification of industrial motor drives above 7.5 kW in Southeast Asia
Textile, plastics, and food-processing plants across Thailand and Malaysia retrofitted variable-frequency drives with SiC modules, achieving double-digit energy savings and lower harmonic distortion. Manufacturers adopted 12-pulse rectifier topologies that benefit from high-frequency switching, and incentives under national energy-efficiency programs offset initial hardware premiums. Power-electronics suppliers responded by offering application-specific reference designs and on-site training, accelerating qualification cycles. The trend provides a blueprint for other developing manufacturing hubs seeking to curb industrial energy intensity.
Restraints Impact Analysis
Restraint | (~) % Impact on CAGR Forecast | Geographic Relevance | Impact Timeline |
---|---|---|---|
Supply-Chain Bottlenecks for 150 mm+ SiC Wafers Limiting Volume Production | -1.4% | Global, acute in Asia-Pacific | Short term (≤ 2 years) |
Packaging Thermal-Management Constraints Above 1.2 kV Modules | -0.8% | Global | Medium term (2-4 years) |
High CAPEX for 200 mm Wide-Bandgap Fabs Hindering New Entrants | -0.6% | Global, barriers in emerging markets | Long term (≥ 4 years) |
Source: Mordor Intelligence
Supply-chain bottlenecks for 150 mm and larger SiC wafers
Chronic substrate shortages constrained volume ramps, keeping average selling prices elevated. Wolfspeed’s temporary liquidity challenges increased risk exposure for partners that relied on its 200 mm roadmap, leading Renesas to exit its planned SiC platform.[2]EE Journal, “Infineon to Revolutionize Power Delivery Architecture for Future AI Server Racks with NVIDIA,” eejournal.com Chinese entrants accelerated capacity additions yet faced qualification hurdles with automotive customers. The multiyear lag between announced fabs and production readiness complicated demand-forecast accuracy for both device makers and system OEMs. As a result, several automakers executed dual-sourcing strategies to hedge wafer allocations.
Packaging thermal-management constraints above 1.2 kV modules
High-voltage modules approaching 1,700 V ran into heat-spreading limitations where conventional wire-bonding and silicone gels degraded reliability at junction temperatures beyond 150 °C. Navitas introduced copper-clip and sintered-silver interconnects within its SiCPAK platform, reducing thermal resistance, though at a higher unit cost. End-users weighed these premiums against system-level savings in cooling hardware. Development lags in thermal-interface materials and substrate technologies prevented immediate cost downs, postponing adoption in price-sensitive industrial applications.
Segment Analysis
By Component: Modules Drive Integration Trend
Power modules delivered 8.6% CAGR through 2030 as design teams opted for pre-packaged assemblies that simplify thermal layout and electromagnetic shielding. In 2024, discrete transistors and diodes still contributed 46.3% of revenue, preserving flexibility in consumer and low-power factory equipment. Demand for modules surged in traction inverters and renewable-energy converters above 50 kW where integrating gate drivers, temperature sensors, and isolation reduced development cycles. Embedded-cooling substrates entered pilot production, pushing module power density upward and enabling smaller inverter housings in electric vehicles. Integrated power ICs gained share in fast-charger adapters below 100 W, combining control and switching in a single plastic package that meets stringent size constraints. Smartphone brands adopted these monolithic GaN solutions to achieve 65 W charging in compact wall plugs. The power electronics market size for modules is forecast to expand steadily as automotive suppliers transition to 800 V platforms, while consumer design wins sustain volume in discrete devices.
Market-wide standardization on transfer-molded packages offered cost reductions and better moisture resistance for industrial drives operating in harsh climates. Manufacturers leveraged automated assembly lines to meet rising output needs, particularly across Asia-Pacific. Discrete devices nevertheless preserved a sizeable presence in lighting ballasts, home appliances, and robotic controllers, where customized board layouts and diverse voltage classes outweighed the integration advantage. Over the forecast span, increased silicon-carbide wafer availability will further tilt the share toward modules, yet discrete volumes will decline gradually rather than collapse.
Note: Segment shares of all individual segments available upon report purchase
By Device Type: MOSFET Dominance Spans Technologies
MOSFETs captured 44.1% of 2024 revenue and their 9.1% CAGR positions them as both the largest and fastest-growing device category. The architecture lends itself to incremental R&D, evident in Wolfspeed’s Gen 4 platform that reduced on-state resistance while maintaining familiar gate-drive requirements. High-frequency resonance topologies in charger adapters and solar micro-inverters gravitated to GaN enhancement-mode MOSFETs, whereas SiC planar MOSFETs excelled in vehicle traction stages above 100 kW. IGBTs remained essential in rail propulsion and large industrial drives, sustaining demand in power classes beyond practical MOSFET limits. Thyristors continued serving grid-tied soft-starters and HVDC links, though their overall contribution shrank.
Device-makers introduced co-packaged Schottky diodes with SiC MOSFETs, easing reverse-recovery constraints and simplifying board layouts. Meanwhile, gallium-nitride suppliers improved dynamic-RDS(on) behavior to extend device life in hard-switching conditions. The power electronics market continues to reward MOSFET innovation because the form factor aligns with existing driver ecosystems, lowering design barriers for system engineers. Future share shifts will hinge on wide-bandgap wafer pricing and the speed of automotive qualification for next-generation MOSFET gates.
By Material: Silicon Carbide Disrupts Legacy Dominance
Silicon held 90.6% revenue share in 2024, yet silicon-carbide revenues advanced at a 15.7% CAGR as end-markets valued efficiency gains over upfront cost differentials. Automotive OEMs adopted SiC for onboard chargers and traction inverters, reporting increased driving range and reduced cooling hardware. onsemi’s USD 115 million purchase of Qorvo’s JFET portfolio highlighted the scramble for intellectual property that accelerates vertical integration. Gallium-nitride gained momentum in handset adapters, enterprise server power supplies, and phased-array radars due to its high electron mobility.
Regional industrial policies spurred local wafer fabrication. Infineon opened a USD 2 billion facility in Kulim, Malaysia, reinforcing the Asia-Pacific leadership in substrate and device production.[3]Infineon Technologies AG, “Infineon Opens the World’s Largest and Most Efficient SiC Power Semiconductor Fab in Malaysia,” infineon.com This proximity to contract manufacturers cut logistics costs and mitigated geopolitical risk. Silicon will retain relevance in cost-sensitive volume applications, though its share declines gradually as learning curves bring SiC and GaN price points lower. The power electronics market share held by silicon falls modestly through 2030, partly offset by hybrid modules that mix Si and SiC dies for cost-competitive mid-tier vehicles.

By End-user Industry: Automotive Electrification Accelerates Growth
Consumer electronics represented 28.2% revenue share in 2024, spanning fast-charger wall adapters, notebook power bricks, and gaming consoles that pursued higher efficiency and compact size. Samsung, among others, used Navitas GaN ICs to deliver 25 W to 65 W outputs in pocket-sized chargers. The automotive sector posted a 13.3% CAGR as battery-electric models gained market share, necessitating SiC-based powertrains that handle voltages up to 1,000 V. Onboard chargers integrating bidirectional capability enabled vehicle-to-home energy services, expanding semiconductor content per car.
Industrial automation adopted high-speed drives and welding units that benefit from reduced switching losses, while the ICT segment experienced brisk expansion alongside 5 G radio deployment and hyperscale data-center buildouts. Energy and power applications gained relevance owing to large-scale storage projects that require bidirectional converters with millisecond response to frequency deviations. Aerospace and defense sustained niche demand for radiation-hardened GaN switches in space-borne platforms. Healthcare equipment remained stable, focusing on portable imaging and precision surgical tools that value low-noise power stages.
Geography Analysis
Asia-Pacific generated 54.4% of global revenue in 2024 and is widening its lead with a 10.2% CAGR. National programs in China, Japan, and South Korea funded wafer fabs, module assembly, and electric-vehicle supply chains, ensuring local availability of substrates and advanced packaging. Japanese authorities pledged USD 67 billion to support domestic semiconductor fleets, aiding companies such as Sony and Mitsubishi Electric, and reinforcing university research collaborations. Mainland China leveraged economies of scale in material growth and backend assembly to supply regional customers quickly, lowering landed cost despite technology gaps in the leading edge.
North America remained the second-largest region, pairing innovation strengths with thriving end-markets in AI servers, electric pickup trucks, and renewable microgrids. State-level incentives attracted new SiC wafer plants and helped secure capital for 200 mm transitions. Defense procurement continued to fund radiation-tolerant GaN research, which later filtered into commercial telecom systems. The power electronics market size in North America is on an upward trajectory as data-center operators adopt 400 V DC architectures that reduce copper usage and improve rack density.
Europe focused resources on e-mobility charging corridors and grid-level storage. Policymakers mandated interoperability of charging hardware, indirectly favoring SiC adoption due to its efficiency at 800 V. Automotive Tier 1 suppliers partnered with semiconductor vendors to co-develop traction inverters, creating integrated reference platforms that accelerate homologation. The Middle East and Africa region, while starting from a smaller base, invested in large photovoltaic plants and desalination facilities that require robust inverter stages. South America’s opportunities emerged from wind corridors in Brazil and Argentina and from local content rules that encourage assembly of power modules within the region. Collectively, these dynamics keep the power electronics market expanding on every continent, though rates vary with industrial maturity and policy support.

Competitive Landscape
The competitive arena remained moderately fragmented. Infineon, STMicroelectronics, and Mitsubishi Electric defended core silicon portfolios while scaling SiC output through capacity additions and strategic supply contracts. Wolfspeed, Navitas Semiconductor, and GaN Systems focused on disruptive wide-bandgap platforms, leveraging design wins in fast chargers, traction inverters, and AI servers to gain brand visibility. onsemi’s acquisition of Qorvo’s SiC JFET assets clarified its intent to build a vertically integrated SiC chain that covers substrate, epitaxy, and finished devices.
Strategic alliances reshaped value-chain relationships. NVIDIA partnered with Infineon and Navitas to co-develop 800 V high-voltage DC power architectures for next-generation AI server racks.[4]DIGITIMES Asia, “Renesas Scraps SiC Production Plan Amid Rising Chinese Challenge,” digitimes.com Automotive OEMs locked multiyear wafer supply agreements to guard against substrate shortages, while inverter makers collaborated with module suppliers to integrate advanced gate drivers and cooling features. White-space innovations emerged as startups pursued solid-state circuit breakers, high-frequency wireless chargers, and compact power supplies for edge-AI deployments. The capital intensity of 200 mm SiC fabs deterred green-field entrants, steering newcomers toward fab-light or licensing models.
Supply-chain resilience became a competitive differentiator. Companies invested in dual-sourcing of epi reactors, trench etchers, and sintering equipment to mitigate geopolitical risks. Packaging expertise proved equally decisive; firms with in-house capability to combine copper-clip interconnects, insulated metal substrates, and embedded micro-channel cooling won early design slots in automotive inverter reference platforms. Intellectual-property portfolios around trench topologies, gate oxide stacks, and lifetime-enhancement treatments served as negotiation chips in cross-licensing deals that stitched together complementary strengths. As volumes climb, economies of scale favor incumbents with access to financing and global field-application networks, though niche specialists can still capture margin in high-performance corners of the power electronics market.
Power Electronics Industry Leaders
-
ON Semiconductor Corporation
-
ABB Ltd.
-
Infineon Technologies AG
-
Texas instruments Inc.
-
ROHM Co. Ltd
- *Disclaimer: Major Players sorted in no particular order

Recent Industry Developments
- June 2025: Wolfspeed launched Gen 4 MOSFET technology aimed at automotive and industrial high-power modules.
- May 2025: NVIDIA selected Navitas Semiconductor to co-develop 800 V HVDC architectures for AI servers.
- May 2025: Infineon announced a joint effort with NVIDIA to revamp power delivery for future AI server racks.
- April 2025: Navitas partnered with Great Wall Power to target 400 V DC data-center distribution.
Global Power Electronics Market Report Scope
Power electronics include components such as capacitors, inductors, and other semiconductor devices used in the power management of various systems. Moreover, power electronics integrate energy, control systems, and electronic devices.
The study includes two types of components and materials for various end-user industries. The competitive landscape has been considered to calculate the power electronics penetration and the involvement of the key players in organic and inorganic growth strategies. These companies continuously innovate their products to increase their market share and profitability. Further, the market study also focused on the impact of the COVID-19 pandemic on the market ecosystem.
The power electronics market is segmented by component (discrete and modules), by material (silicon/germanium, silicon carbide (sic), and gallium nitride (gan)), by end-user industry (automotive, consumer electronics, IT and telecommunication, military & aerospace, industrial, energy and power, and other end-user industries), and geography (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa). The market size and forecasts are provided in terms of value (USD) for all the above segments.
By Component | Discrete | |||
Module | ||||
Integrated Power IC | ||||
By Device Type | MOSFET | |||
IGBT | ||||
Thyristor | ||||
Diode | ||||
By Material | Silicon (Si) | |||
Silicon Carbide (SiC) | ||||
Gallium Nitride (GaN) | ||||
By End-user Industry | Consumer Electronics | |||
Automotive (xEV, Charging) | ||||
ICT and Telecommunication | ||||
Industrial (Drives, Automation) | ||||
Energy and Power (Renewables, HVDC) | ||||
Aerospace and Defense | ||||
Healthcare Equipment | ||||
By Geography | North America | United States | ||
Canada | ||||
Mexico | ||||
Europe | Germany | |||
United Kingdom | ||||
France | ||||
Italy | ||||
Rest of Europe | ||||
Asia-Pacific | China | |||
Japan | ||||
South Korea | ||||
Taiwan | ||||
India | ||||
Rest of Asia-Pacific | ||||
South America | Brazil | |||
Argentina | ||||
Rest of South America | ||||
Middle East and Africa | Middle East | Saudi Arabia | ||
United Arab Emirates | ||||
Turkey | ||||
Rest of Middle East | ||||
Africa | South Africa | |||
Rest of Africa |
Discrete |
Module |
Integrated Power IC |
MOSFET |
IGBT |
Thyristor |
Diode |
Silicon (Si) |
Silicon Carbide (SiC) |
Gallium Nitride (GaN) |
Consumer Electronics |
Automotive (xEV, Charging) |
ICT and Telecommunication |
Industrial (Drives, Automation) |
Energy and Power (Renewables, HVDC) |
Aerospace and Defense |
Healthcare Equipment |
North America | United States | ||
Canada | |||
Mexico | |||
Europe | Germany | ||
United Kingdom | |||
France | |||
Italy | |||
Rest of Europe | |||
Asia-Pacific | China | ||
Japan | |||
South Korea | |||
Taiwan | |||
India | |||
Rest of Asia-Pacific | |||
South America | Brazil | ||
Argentina | |||
Rest of South America | |||
Middle East and Africa | Middle East | Saudi Arabia | |
United Arab Emirates | |||
Turkey | |||
Rest of Middle East | |||
Africa | South Africa | ||
Rest of Africa |
Key Questions Answered in the Report
What is the projected value of the power electronics market by 2030?
The market is expected to reach USD 38.23 billion by 2030, up from USD 26.84 billion in 2025.
Which component segment is expanding the fastest?
Power modules exhibit the highest growth, registering an 8.6% CAGR through 2030.
Why is silicon-carbide adoption accelerating in automotive applications?
SiC devices improve traction inverter efficiency, cut cooling requirements, and extend driving range, justifying their higher material cost.
Which region leads the power electronics market in terms of revenue?
Asia-Pacific held 54.4% of global revenue in 2024 and maintains the fastest 10.2% CAGR.
How are supply-chain constraints affecting market growth?
Limited availability of 150 mm and 200 mm SiC wafers restrict device output, delaying design cycles and sustaining higher average selling prices.
What strategic moves are major players making to secure wide-bandgap leadership?
Firms are acquiring intellectual-property assets, signing long-term wafer contracts, and investing in advanced packaging to integrate cooling and gate-drive functions efficiently.
Page last updated on: July 6, 2025