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A free scan shows the junk files, broken settings and background clutter dragging Windows down - then fixes them in one click.Free scan · Windows 10 & 11Yes. China’s power-electronics momentum remains strong, supported by expanding demand from electric vehicles, renewable power, batteries and storage, electricity grids, industrial automation, data centers and electronics manufacturing. The growth is broader than EVs alone: in 2023, China’s power-semiconductor market reached RMB130.9 billion, while the global market is projected to grow from RMB368.0 billion in 2024 to RMB496.8 billion in 2028, according to a 2024 industry overview filed with the Hong Kong Stock Exchange.
What the market figures show
Power electronics use semiconductors and related circuitry to convert and control electrical power—for example, changing voltage or current, converting direct current to alternating current, or managing power flow in a motor or grid. Power semiconductors are a core component of that broader field, but the market figures below measure power semiconductors, not every product or service that might be called power electronics.
| Measure | Value | What it indicates |
|---|---|---|
| Global power-semiconductor market, 2019 | RMB320.6 billion | Historical market estimate |
| Global power-semiconductor market, 2023 | RMB335.7 billion | Historical market estimate |
| China power-semiconductor market, 2023 | RMB130.9 billion | China market estimate |
| Global power-semiconductor market, 2024 | RMB368.0 billion | Market estimate |
| Global power-semiconductor market, 2028 | RMB496.8 billion | Projection; 7.8% compound annual growth rate from 2024 to 2028 |
All figures in the table are from a 2024 industry overview filed with the Hong Kong Stock Exchange. The 2028 value is a projection, not a reported outcome. Market totals indicate demand and scale; they do not establish the profitability of individual manufacturers.
Why demand is coming from several directions
Electric vehicles and electronics production
China’s 2025 industrial output figures show growth in both vehicle production and electronics-related manufacturing. The National Bureau of Statistics reported that value added rose 9.2% for electrical machinery and apparatus and 10.6% for computers, communications equipment and other electronic equipment. Integrated-circuit output reached 4,842.8 hundred million pieces—484.28 billion pieces—up 10.9%; new-energy-vehicle output reached 1,652.4 ten-thousand vehicles—16.524 million—up 25.1%. These are 2025 figures reported by the bureau in 2026.
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Vehicles use power conversion and control in systems such as traction drives, charging equipment and auxiliary electrical systems. Growing vehicle production can therefore add to demand for power-electronic components, although the output statistics do not quantify how much of the industry’s growth came from EVs specifically.
Solar and wind expansion
More renewable generation means more equipment must convert, control and route electricity. Solar installations rely on inverters to convert panel output into usable alternating current; wind systems also require power-conversion and control hardware. The National Energy Administration reported that in 2024 China had about 890 million kW of solar-generation capacity, up 45.2%, and about 520 million kW of wind capacity, up 18.0%. Total investment in power sources was RMB1.1687 trillion, up 12.1% that year.
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Manufacturing data point to the scale of the associated photovoltaic supply chain. The Ministry of Industry and Information Technology reported that 2024 output reached 753 GW of silicon wafers, up 12.7%; 654 GW of solar cells, up 10.6%; and 588 GW of modules, up 13.5%. Polysilicon output exceeded 1.82 million tonnes, up 23.6%. Those production totals are not power-electronics sales, but they describe a rapidly expanding generation ecosystem that needs conversion hardware.
Batteries and energy storage
Battery systems need electronics to manage charging, discharging, voltage and protection. MIIT reported that China’s 2024 lithium-ion battery output was 1,170 GWh, up 24%, and that industry output value exceeded RMB1.2 trillion. Installed battery capacity exceeded 645 GWh, up 48%; the reported categories included 826 GWh of power batteries and 260 GWh of storage batteries. Battery capacity and factory output are different measures, and neither figure is itself a measure of power-electronics revenue.
Grids, industry and data centers
Renewable generation and storage need connections to electricity networks, while factories and data centers require dependable power conversion and control. The National Energy Administration reported that China’s total social electricity consumption in 2024 was 98,521 billion kWh, up 6.8%; industrial electricity use rose 5.1% and services-sector use 9.9%. These consumption figures show the breadth of electricity demand, but they do not isolate how much power-conversion equipment was purchased by any one sector.
Electronics growth is not the same as semiconductor profitability
China’s wider electronics supply chain is also expanding. MIIT reported that 2024 integrated-circuit output was 4,514.2 hundred million pieces—451.42 billion—up 22.2%, while value added in electronics manufacturing rose 11.8%. These figures complement the power-semiconductor market estimate, but they measure different things: integrated-circuit output includes chips beyond power semiconductors, and value-added growth is not a company margin or profit measure.
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Together, the market estimate, manufacturing data, renewable build-out and electricity-use figures support a demand-led case for continued sector momentum. They do not show that every supplier will grow at the same rate, that domestic production satisfies all demand, or that a larger market automatically delivers better returns.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Which components are exposed to the growth?
Renewables, EVs, storage and grid upgrades can support demand for power semiconductor modules and related hardware, including inverters, converters, switches, control electronics and thermal-management components. The relevant component depends on the job: a solar inverter, a motor drive and a battery system do not necessarily use the same semiconductor, package or circuit design.
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For a component search, “power semiconductor module” is a more useful starting term than a generic “power electronics” listing. A module is not interchangeable just because a marketplace title mentions the same broad application or material. Compare the application and the actual electrical, thermal and control requirements:
- Semiconductor material: silicon, silicon carbide (SiC) or gallium nitride (GaN), selected for the operating conditions and design.
- Voltage and current ratings: confirm the ratings against the circuit’s operating range and required margin.
- Switching frequency and topology: check compatibility with the converter or drive design.
- Package, isolation and thermal performance: verify physical fit, isolation needs, thermal resistance and cooling method.
- Gate drive and certification: confirm gate-drive requirements and applicable certifications.
- Supplier traceability: establish that the part’s identity and provenance can be verified.
The available market and industrial statistics do not establish that one material, module type or supplier is best for every application. Selection requires the circuit’s specifications and the manufacturer’s documentation.
Quick Recap
How to read the China growth story
- It is diversified: EVs are one contributor alongside solar, wind, storage, grids, industrial electricity use, data centers and electronics manufacturing.
- Infrastructure matters: generation capacity, battery deployment and electricity consumption create a wider base for power-conversion demand.
- The metrics are not interchangeable: market value, factory output, installed capacity, electricity use and industrial value added describe different parts of the ecosystem.
- Growth does not guarantee margins: the cited market overview reports market totals, not company profitability.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
