One of the key drivers of the power electronics market is the increasing demand for a higher power density. In the power electronics industry, power density is a major factor, especially in high-power applications. For instance, to increase the operational efficiency of wind power generators, electric rail traction drives, solar power generators, and inverter systems, power electronic devices are used.

Another sector where the uptake of computers, mobile devices, and digital pens is rising is education. The use of such computing tools for learning not only helps replace the traditional books and notebooks, but also makes the educational content accessible from anywhere, on the internet.

The need for a reduction in energy consumption by the major industries is expected to increase significantly in Asia-Pacific (APAC) in the coming years. Electric motors can account for almost 70% of the total energy consumption in industries, and with the electricity usage and prices already too high, the adoption of energy-efficient motors is rising, in order to reduce the operating costs.

The rising demand for electric vehicles (EVs) across the globe, on account of the increasing government policies and measures supporting the deployment of eco-friendly vehicles, is one of the major factors powering the sale of battery management systems (BMS) throughout the world. For instance, New Zealand joined the global EV initiative in 2018 that has put the country alongside the top electric vehicle markets.

The burgeoning usage of position sensors in various automobile parts and applications, such as pedal positioning, clutch plates, parking assistance systems, hybrid engines, and steering angle sensing, is one of the biggest factors increasing their demand across the world.

The construction industry in Asia-Pacific (APAC) is growing rapidly, due to population boom. Moreover, the migration rate from rural to urban areas is quite high in countries such as India and China, because of which the construction of both residential and commercial buildings is bound to witness a hike.

In 2018, the global metering pump market generated a revenue of $4.2 billion and is projected to witness a 6.0% CAGR during the forecast period (2019–2024). The market is growing due to the rising demand from the oil & gas industry, strict government regulations regarding water treatment, and growing demand from the chemical industry.

The demand for compressors in China is expected to register exponential growth in the coming years, primarily due to the rapid advancements in the country’s construction sector. The burgeoning construction activities have contributed toward the rising demand for energy-efficient heating, ventilation, and air-conditioning (HVAC) systems, thereby fuelling the growth in the demand for compressors.

The demand for compressors in China is expected to register exponential growth in the coming years, primarily due to the rapid advancements in the country’s construction sector. The burgeoning construction activities have contributed toward the rising demand for energy-efficient heating, ventilation, and air-conditioning (HVAC) systems, thereby fuelling the growth in the demand for compressors.

The global prevalence of chronic obstructive pulmonary disease is 65 million people, while its annual death rate is 3 million, as estimated by the World Health Organization in the second edition of its Global Impact of Respiratory Diseases report.