Power Electronics Market Opportunities, Strategic Assessment, Trend Outlook and Key Findings

Ksnehal07 Jan, 2022Business

The growing trend of renewable energy resources and portable energy systems is largely impacting the growth of the global power electronics market during the forecast period. However, complexities in designing and integrating technically advanced devices are expected to impact market growth. Power electronics devices are also used in electric and hybrid vehicles to optimize overall system cost, maximize power savings, extend mileage, minimize power losses, increase power density, and improve battery efficiency. This has created opportunities for manufacturers of power electronic components.