Report : Middle East & Africa Power Electronics Market Forecast to 2030 - Regional Analysis - by Type (Power Discrete, Power Module, and Power IC), Material [Silicon (SI), Silicon Carbide (SIC), Gallium Nitride (GAN), and Others], and Industry Vertical (ICT, Automotive & Transportation, Consumer Electronics, Industrial, Energy & Power, and Others)
At 3.7% CAGR, Middle East & Africa Power Electronics Market is Projected to be Worth US$ 4,274.34 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Middle East & Africa power electronics market was valued at US$ 3,201.25 million in 2022 and is expected to reach US$ 4,274.34 million by 2030, registering a CAGR of 3.7% from 2022 to 2030. Rising demand for power-efficient and high-energy and increasing demand for AI-based power electronics are among the critical factors attributed to drive the Middle East & Africa power electronics market growth.
Industrial appliances such as motor drives, power converters, UPSs, and server power supplies consume a large amount of power. Consequently, any improvement in industrial power supply efficiency will result in a significant drop in operating expenses for a business. The demand for high-efficiency power supplies is increasing across the globe due to their improved thermal performance and higher power density. Currently, uninterruptible power supplies are one of the most widely used applications for power semiconductors. Numerous hardware such as computers, communications equipment, data centers, and other electrical equipment are integrated with power semiconductors that protect them against unplanned power outages. The system used for uninterruptible power supplies typically consists of batteries and an IGBT (insulated-gate bipolar transistor) inverter, which have high voltage capabilities. This increases its adoption in high-current-density applications.
High-efficiency power sources are becoming increasingly necessary worldwide. Growing awareness related to efficient energy usage is creating demand for power semiconductors among consumers. Power semiconductors are also becoming an essential component to reduce the carbon footprint of society worldwide. Power semiconductors such as diodes, thyristors, and transistors are highly used for regulating electricity in automotive, consumer electronics, power, energy, ICT, and other industries. Thus, the rising demand for power-efficient and high-energy devices drives the power electronics market.
On the flip side, complexities associated with product design and integration hampers the growth of Middle East & Africa power electronics market.
Based on type, the Middle East & Africa power electronics market is categorized into power discrete, power module, and power IC. The power module segment held 47.2% market share in 2022, amassing US$ 1,505.90 million. It is projected to garner US$ 2,125.76 million by 2030 to register 4.4% CAGR during 2022-2030.
In terms of material, the Middle East & Africa power electronics market is segmented into Silicon (SI), Silicon Carbide (SIC), Gallium Nitride (GAN), and others. The Silicon (SI) devices segment held 85.1% share of Middle East & Africa power electronics market in 2022, amassing US$ 2,733.90 million. It is anticipated to garner US$ 3,660.42 million by 2030 to expand at 3.7% CAGR during 2022-2030.
By industry vertical, the Middle East & Africa power electronics market is divided into ICT, automotive & transportation, consumer electronics, industrial, energy & power, and others. The consumer electronics segment held 29.2% share of Middle East & Africa power electronics market in 2022, amassing US$ 932.85 million. It is projected to garner US$ 1,320.51 million by 2030 to expand at 4.4% CAGR from 2022 to 2030.
Based on country, the Middle East & Africa power electronics market is categorized into the UAE, South Africa, Saudi Arabia, and the Rest of Middle East & Africa. Our regional analysis states that the UAE captured 37.4% share of Middle East & Africa power electronics market in 2022. It was assessed at US$ 1,195.99 million in 2022 and is likely to hit US$ 1,715.56 million by 2030, registering a CAGR of 4.6% during 2022-2030.
Key players operating in the Middle East & Africa power electronics market are Vishay Intertechnology Inc; Toshiba Electronic Devices & Storage Corp; Littelfuse, Inc; Renesas Electronics Corp; Fuji Electric Co Ltd; Mitsubishi Electric Corp; STMicroelectronics NV; and Infineon Technologies AG., among others.
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