Power Electronics Market to Witness Robust Growth Owing to Rising Trend of Energy Harvesting & Usage of Renewable Energy Sources Till 2025

The emerging demand for energy-efficient, battery powered devices and use of electronics in different industries is likely to fuel market globally over a forecast period. In 2016, the market size of power electronics was valued at USD 32.33 globally. The growing trend of energy harvesting, usage of renewable energy sources are key reasons that are anticipated in growth of industry in coming period. The use of power electronics in electric vehicle is also considered to be important in market growth. Power electronics is a circuit that is used to control and conversion of electric power. A rectifier is a common device that is used in many consumer electronics devices such as computer, battery charger and television set.