Power Electronics Converter Market Size, Share, Opportunities And Trends By Type, Application, End-user, and Geography - Forecasts From 2025 To 2030

Description

Power Electronics Converter Market Size:

The power electronics converter market, at a 6.81% CAGR, is expected to grow from USD 17.635 billion in 2025 to USD 24.513 billion in 2030.

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Power electronic converters are in charge of gathering electrical energy from the power grid and converting it into the form required by a motor. The power electronic converter can be determined by the driving motor and the available power supply. The developing technical aspects of the product will drive market expansion. Rising wind and solar energy investments are expected to propel the sector ahead. Rising demand for electric cars is expected to boost the market for high-power DC-DC electronic converters. The market is expanding rapidly because of advances in energy infrastructure, renewable energy development, and energy-efficient portable electronics components. Silicon carbide (SiC) and gallium nitride (GaN), in particular, are good materials for power electronics conversion applications.

Power Electronics Converter Market Drivers:

• The increasing focus on the reduction of carbon emissions to drive market growth

The market for high-power power electronics converters like DC-DC converters is expected to develop as a result of reduced reliance on coal-based power plants and increased attention to carbon emissions. Demand for high-power converters is set to increase due to the shift toward renewable energy sources like solar and wind, which is anticipated to fuel market expansion. The United States government plans to invest more than USD 300 billion in wind and solar-based power projects by 2030 as part of the Inflation Reduction Act of 2022, which was signed into law in September 2022. It is anticipated that rising demand for electric vehicles would fuel market expansion. Nevertheless, converter high-frequency noise is anticipated to restrain market expansion. This shows that the reduction of reliance on coal and the adaptation to renewables will propel the power electronic converter market.

• The increasing demand in Aerospace and Defence is expected to boost market growth.

The aerospace and defense industries are always competing to improve command, communications, intelligence, and surveillance capabilities while decreasing size, weight, power, and cost. As a result, aerospace and defense (A&D) companies are being obliged to invest in systems with ever-increasing power densities and capabilities. The increased military spending throughout the world is expected to drive the power electronic converter industry. The top five nations that will have to spend at least $100 billion on their armies in 2021, according to the Stockholm International Peace Research Institute (SIPRI), are Russia, the United States, the United Kingdom, China, and India. Power electronics converters are utilized in a variety of applications in the aerospace sector, including landing gear, engine systems and controls, flight control, navigation, cabin illumination, avionics, and communications. This showcases the huge demand for the power electronic converter in this sector and will rise in the coming years.

Power Electronics Converter Market Geographical Outlook:

• During the forecast period, the Asia Pacific is expected to grow in the Power Electronics Converter Market

The greatest market for power electronics converters worldwide is in Asia-pacific. The market is growing as a result of factors including the increased emphasis on renewable energy sources across all industrial verticals and technical advancements. Furthermore, a significant factor in the expansion of the regional industry is the availability of strong technology at low prices. Also, the region's abundance of businesses that produce electronic products promotes the expansion of the power electronics converter.

It is anticipated that rising demand for electric vehicles would fuel market expansion. So, in January 2021, in collaboration with SAIC Motor, Alibaba Group unveiled two electric car models under the name IM (Intelligence in Motion). For these cars, CATL sells battery cells. According to the Ministry of Electronics and Information Technology (MEITY), in Jan 2023, a manufacturing base for semiconductors and power electronic components is being developed in India. This shows that the market for the power electronic converter tends to rise in the forecasted year and propels the market growth.

Power Electronics Converter Market Key Developments:

• December 2025: ABB completed the acquisition of Gamesa Electric’s power electronics business from Siemens Gamesa, expanding converter and inverter capabilities globally.
• September 2025: Siemens Energy was selected as the preferred bidder for the converter stations for the 2 GW Eastern Green Link 4 (EGL4) HVDC project in the UK.
• August 2025: Power Electronics introduced its Gen3 Plus inverter series with enhanced power density and grid-forming features for utility-scale solar and storage systems.
• March 2025: Power Integrations unveiled high-efficiency switching technologies and GaN power ICs at APEC 2025, advancing compact converter designs.
• March 2025: Navitas Semiconductor showcased breakthrough GaN and SiC power conversion technologies for AI, EV, and mobile applications at APEC 2025.

Power Electronics Converter Market Scope:

Power Electronics Converter Market Segmentation:

• POWER ELECTRONICS CONVERTER MARKET BY TYPE
  • AC to DC
  • DC to DC
  • AC to AC
  • DC to DC
• POWER ELECTRONICS CONVERTER MARKET BY APPLICATION
  • Consumer Electronics
  • Automotive Application
  • Power Generation
  • Power Distribution
  • Others
• POWER ELECTRONICS CONVERTER MARKET BY END-USER
  • Consumer Electronics
  • Automotive Application
  • Power Generation
  • Power Distribution
  • Others
• POWER ELECTRONICS CONVERTER MARKET BY GEOGRAPHY
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Thailand
    • Others

Table Of Contents

1. EXECUTIVE SUMMARY
2. MARKET SNAPSHOT
    2.1. Market Overview
    2.2. Market Definition
    2.3. Scope of the Study
    2.4. Market Segmentation
3. BUSINESS LANDSCAPE
    3.1. Market Drivers
    3.2. Market Restraints
    3.3. Market Opportunities
    3.4. Porter’s Five Forces Analysis
    3.5. Industry Value Chain Analysis
    3.6. Policies and Regulations
    3.7. Strategic Recommendations
4. TECHNOLOGICAL OUTLOOK
5. POWER ELECTRONICS CONVERTER MARKET BY TYPE
    5.1. Introduction
    5.2. AC to DC
    5.3. DC to DC
    5.4. AC to AC
    5.5. DC to DC
6. POWER ELECTRONICS CONVERTER MARKET BY APPLICATION
    6.1. Introduction
    6.2. Consumer Electronics
    6.3. Automotive Application
    6.4. Power Generation
    6.5. Power Distribution
    6.6. Others
7. POWER ELECTRONICS CONVERTER MARKET BY END-USER
    7.1. Introduction
    7.2. Consumer Electronics
    7.3. Automotive Application
    7.4. Power Generation
    7.5. Power Distribution
    7.6. Others
8. POWER ELECTRONICS CONVERTER MARKET BY GEOGRAPHY
    8.1. Introduction
    8.2. North America
        8.2.1. USA
        8.2.2. Canada
        8.2.3. Mexico
    8.3. South America
        8.3.1. Brazil
        8.3.2. Argentina
        8.3.3. Others
    8.4. Europe
        8.4.1. Germany
        8.4.2. France
        8.4.3. United Kingdom
        8.4.4. Spain
        8.4.5. Others
    8.5. Middle East and Africa
        8.5.1. Saudi Arabia
        8.5.2. UAE
        8.5.3. Others
    8.6. Asia Pacific
        8.6.1. China
        8.6.2. India
        8.6.3. Japan
        8.6.4. South Korea
        8.6.5. Indonesia
        8.6.6. Thailand
        8.6.7. Others
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
    9.1. Major Players and Strategy Analysis
    9.2. Market Share Analysis
    9.3. Mergers, Acquisitions, Agreements, and Collaborations
    9.4. Competitive Dashboard
10. COMPANY PROFILES
    10.1. Murata Manufacturing Co. Ltd
    10.2. ABB
    10.3. AAK Corporation
    10.4. Huawei Power Solution
    10.5. Mornsun Guangzhou Science & Technology Co. Ltd
    10.6. ELMG Ltd
    10.7. Eram Magnaflux System Pvt Ltd.
11. APPENDIX
    11.1. Currency
    11.2. Assumptions
    11.3. Base and Forecast Years Timeline
    11.4. Key benefits for the stakeholders
    11.5. Research Methodology
    11.6. Abbreviations
LIST OF FIGURES
LIST OF TABLES

Companies Profiled

Murata Manufacturing Co. Ltd

ABB

AAK Corporation

Huawei Power Solution

Mornsun Guangzhou Science & Technology Co. Ltd

ELMG Ltd

Eram Magnaflux System Pvt Ltd

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