Power Electronics Market: Insights into the Competitive Scenario of the Market 2017 - 2025
Power electronics involves the usage of electronic circuits to control the flow of electrical energy. It is the application of solid-state electronics to control and convert electric power. It includes various advanced power semiconductor devices, their characteristics, structures, and applications. Power electronics is used in defense applications. Electric vehicle need the power electronics system to convert and control the power supply from the battery of the electric vehicle. Ever-increasing adoption of electric vehicles is projected to boost the power electronics market during the forecast period. Rigorous norms imposed globally by regulatory bodies on carbon emissions of automobiles are also anticipated to promote the increasing adoption of power electronics in the electric vehicles, as it has electronic control over the emission system in gasoline vehicles and there is no emission in case of electric vehicles. Rapid usage of renewable sources of energy is a ke...