LONDON–(BUSINESS WIRE)–Technavio
market research analysts have forecasted the global
MOCVD equipment market for power electronics
to grow at a CAGR
of approximately 35% during the period 2018-2022, according to
their latest report.

One of the major trends being witnessed in the market is the growing
focus on renewable energy sources. Many countries are focusing on
renewable energy sources due to the increasing environmental concerns
and government regulations. The EU has established many policies to
reduce its dependence on fossil fuels and make its production more
sustainable. The EU is promoting the use of electricity produced from
renewable energy sources in the internal electricity market. Power
devices are crucial components of renewable energy systems. They convert
and process electrical energy from one form to another.

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In this report, Technavio analysts highlight the adoption of power
electronic devices for energy generation as a key factor contributing to
the growth of the global MOCVD
equipment market for power electronics
:

Adoption of power electronic devices for energy
generation

The need to generate power from renewable energy sources is increasing
rapidly across the globe. According to a research, the global energy
consumption is expected to increase by 28% by 2040. This is expected to
drive the adoption of power electronics for energy generation from
different renewable sources such as solar and wind energy. The common
sources of energy are solar energy, wind energy, biomass, hydropower,
and geothermal resources.

According to a senior analyst at Technavio for semiconductor
equipment
, “Power electronics, including power devices,
diodes, thyristors, are vital components of renewable energy systems.
These devices are used in wind turbine converters, grid converters, and
inverters in solar panels to increase the power efficiency and switching
speed. The growing need for improved thermal capacity and power cycling
capacity will play an important role in driving the use of power
electronics in the renewable energy sector.”

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Global MOCVD equipment market for power
electronics – segmentation analysis

This market research report segments the global MOCVD
equipment market for power electronics
by type of power
electronics (power discrete devices, power modules, and power ICs) and
key regions (the Americas, APAC, and EMEA). It provides an in-depth
analysis of the prominent factors influencing the market, including
drivers, opportunities, trends, and industry-specific challenges.

The power discrete devices segment held the highest market share in
2017, accounting for over 65% of the market. However, the market share
for this segment is expected to decrease by nearly 1% by 2022. But, this
segment will dominate the global market throughout the forecast period.

APAC held the highest share of the global MOCVD equipment market for
power electronics in 2017, accounting for a market share of nearly 42%.
The market share of this region is anticipated to increase by more than
4% through 2022.

 

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