The Middle East & Africa power electronics market was valued at US$ 3.20 billion in 2022 and is expected to reach US$ 4.27 billion by 2030; it is estimated to record a CAGR of 3.7% from 2022 to 2030.
These power electronics have higher switching frequencies, which is beneficial in the conversion of voltage magnitude and frequency control by allowing control of power flow; it also increases its implementation in smart grids. Government investment in microgrid projects, infrastructure, and power generation is on the rise. For instance, the International Renewable Energy Agency (IRENA) in the US plans to invest US$ 52 billion annually in infrastructure and power generation to provide electricity for everyone by 2030. This investment equals 3.4% of the average annual global energy sector investment. The expansion of the power generation industry increased the demand for power electronics for controlling power flow.
Growing Adoption of Smart Grid Technology Bolsters Middle East & Africa Power Electronics Market
The smart grid can help transform the topology and power system operation of electrical networks. Power electronics are used to control the flow of power in the smart grid to ensure the reliability as well as stability of the smart grids by allowing for more effective and efficient energy management. Various power electronic devices such as metal oxide silicon field effect transistors (MOSFET), insulated gate bipolar junction transistors (IGBT), triode as an AC switch (TRIAC), gate turn off thyristor (GTO), and integrated gate commutated thyristors (IGCT), among others, has a high voltage handling and high current carrying capacity.These power electronics have higher switching frequencies, which is beneficial in the conversion of voltage magnitude and frequency control by allowing control of power flow; it also increases its implementation in smart grids. Government investment in microgrid projects, infrastructure, and power generation is on the rise. For instance, the International Renewable Energy Agency (IRENA) in the US plans to invest US$ 52 billion annually in infrastructure and power generation to provide electricity for everyone by 2030. This investment equals 3.4% of the average annual global energy sector investment. The expansion of the power generation industry increased the demand for power electronics for controlling power flow.
Middle East & Africa Power Electronics Market Overview
The UAE is a major producer of oil & gas, but it is also investing heavily in renewable energy. The country has set a target of generating 14.2 gigawatts of its electricity from renewable sources by 2030. This is driving the demand for power electronics, which are used to convert and control the electricity generated from renewable sources. Moreover, according to the Ministry of Energy and Infrastructure, the country will invest between US$ 40.8 billion (AED 150 billion) and US$ 54.4 billion (AED 200 billion) by 2030.o ensure that all energy demand is fulfilled while sustaining economic growth. Therefore, the rising investment in renewable energy in the country is driving the market growth of power electronics.Middle East & Africa Power Electronics Market Segmentation
The Middle East & Africa power electronics market is categorized into type, material, industry vertical, and country.- 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 the largest market share in 2022.
- In terms of material, the Middle East & Africa power electronics market is categorized into Silicon (SI), Silicon Carbide (SIC), Gallium Nitride (GAN), and others. The Silicon Carbide (SIC) segment held the largest market share in 2022.
- By industry vertical, the Middle East & Africa power electronics market is segmented into ICT, automotive & transportation, consumer electronics, industrial, energy & power, and others. The consumer electronics segment held the largest market share in 2022.
- By country, the Middle East & Africa power electronics market is segmented into the UAE, South Africa, Saudi Arabia, and the Rest of Middle East & Africa. The UAE dominated the Middle East & Africa power electronics market share in 2022.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Middle East & Africa Power Electronics Market Landscape
5. Middle East & Africa Power Electronics Market - Key Industry Dynamics
6. Power Electronics Market - Middle East & Africa Market Analysis
7. Middle East & Africa Power Electronics Market Analysis - Type
8. Middle East & Africa Power Electronics Market Analysis - Material
9. Middle East & Africa Power Electronics Market Analysis - Industry Vertical
10. Middle East & Africa Power Electronics Market - Country Analysis
11. Power Electronics Market - Impact of COVID-19 Pandemic
12. Industry Landscape
13. Company Profiles
14. Appendix
Companies Mentioned
- Infineon Technologies AG
- STMicroelectronics NV
- Mitsubishi Electric Corp
- Fuji Electric Co Ltd
- Renesas Electronics Corp
- Littelfuse, Inc
- Toshiba Electronics Devices & Storage Corp
- Vishay Intertechnology Inc
