Increasing Demand for Energy-Efficient Solutions and the Integration of Renewable Energy into Existing Power Infrastructure Propels the Growth of the Power Electronics Market Globally, states TNR, The Niche Research

Wilmington, Delaware, May 16, 2024 (GLOBE NEWSWIRE) — Power electronics is a branch of electrical engineering that deals with the conversion, control, and management of electrical power using semiconductor devices. It encompasses a wide range of applications, including power conversion, motor drives, renewable energy systems, and electric vehicles. Power electronics devices, such as converters, inverters, and rectifiers, play a crucial role in efficiently converting and controlling electrical energy to meet specific requirements. Growing demand for energy-efficient solutions across various industries to reduce power consumption and environmental impact. Secondly, the proliferation of renewable energy sources, such as solar and wind power, requires advanced power electronics systems for efficient integration into the grid. Additionally, the increasing electrification of transportation and the adoption of electric vehicles contribute to the expansion of the power electronics market.