Power Electronics` Sales to Reach $34 Billion
According to a Business Communi-cations Co. Inc. (BCC) study, E-093 High Power Electronic Devices and Components: Markets for the 21st Century, the market value of all power electronics-related products and services was estimated at approximately $18 billion in 1998. In comparison, total annual sales of electronic components and industrial electronics are in the neighborhood of $185 billion per year.
The power electronic equipment category having the greatest aggregate sales is solid state inverters, accounting for nearly $7 billion in sales in 1998. Sales of flexible AC transmission (FACTS) devices, although small in comparison, are projected to grow so fast that the aggregate value of the FACTS market will be over $1 billion in seven years. FACTS devices, in particular, have the potential to help electricity providers adapt to and exploit the emergence of deregulated, competitive electricity markets.
Power electronics will be key to achieving a continental-scale power grid in which physical and geographical constraints to bulk power transfer are eliminated. The study predicts that could be achieved by 2020, at which time continental scale, on-line wholesale and retail transactions would be more practical. Prior to that, though, by around 2010, intelligent utility power delivery systems are likely to become commonplace. Intelligent power delivery will be equipped to handle the growing demands for power transmission in a competitive market, with sensors and controls in place to diagnose impending problems and assure the reliability of power supply. The time frame for widespread application in reducing service interruptions is 2010. BCC also concludes that by 2005, at the latest, next generation premium power quality products will be available to offer a much wider range of options for customers` power quality needs.
E-093 High Power Electronic Devices and Components: Markets for the 21st Century is published by Business Communications Co. Inc., 25 Van Zant Street, Norwalk, Conn. 06855. n