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The global IGBT market is expected to grow at a CAGR of around 8.4% from 2020 to 2027 and projected to reach the market value of around US$ 10,303.3 Mn by 2027.
The IGBT or insulated-gate bipolar transistor is a three-terminal power semiconductor device that provides a steady supply of electricity to reduces the congestion in power supply, which leads to optimized power utilization. It’s a unidirectional device that can only switch on in the forward direction. IGBT is widely used in high voltage applications that require lower conduction losses. IGBT can also activate or modifies energy in several modern appliances that are well-equipped with switching amplifiers, including cookers, microwaves, electric cars, trains, variable-frequency drives (VFDs), variable speed refrigerators, air conditioners, lamp ballasts, municipal power transmission systems, and stereo systems.
Market Dynamics
The rapidly increasing demand for electric vehicles owing to the carbon emission regulation is driving the market value. Electric cars and hybrid vehicles use IGBT modules are supporting the market value. It’s a cost-effective solution to replace Metal Oxide Semiconductor Field-Effect Transistor (MOSFET), which is further supporting the market value. However, current leakage at high temperature is projected to hinder the market growth over the forecast period.
On the flip side, government initiatives to establish High Voltage Direct Current (HVDC) and smart grid utilizing IGBT for power conversation are projected to create potential opportunities over the estimated timeframe from 2020 to 2027.
Modular IGBT segment dominated the market with major share
By type, the modular IGBT segment accounted for the major share in 2019. The segment was particularly gaining growth on account of enhanced efficiency and ease-of-control at high voltages. EV/HEV uses IGBT modules, which is another important factor supporting the market value.
High-Power segment accounted for the major share 2019
By power rating, the high-power segment having the potential share in the global market. The segment is also projected to maintain its dominance over the estimated period from 2020 to 2027. IGBT has applications across various high voltage application including switch-mode power supplies (SMPS), motor drive inverters, solar inverters, uninterruptible power supplies (UPS), and welding among others. IGBT facilitates ease-of-control at high voltage and enables higher frequency with enhanced efficiency is another factor supporting the segmental market value.
The market research study on “IGBT Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027”, offers a detailed insight into the global IGBT market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global IGBT market, its type, power rating, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global IGBT market size and volume, and segment markets by type, power rating, application, and geography along with the information on companies operating in the market. The IGBT market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
Asia Pacific is likely to register fastest growth over the forecast period
Asia Pacific region is expected to witness the fastest growth during the forecast period. The favorable government initiatives for energy and power application in developing economies of the region are supporting the growth. The rapidly increasing demand for electric vehicles coupled with the increasing production of EV in the region is further supporting the market value. The major economies of the region including China and India are supporting the market value.
The players profiled in the report include ABB Ltd., Danfoss Group, Fuji Electric Co., Ltd., Hitachi, Ltd., Inneon Technologies AG, Littelfuse, Inc. (IXYS)., Mitsubishi Electric Corporation, Rohm Co., Ltd., Starpower, and Toshiba Corporation. The major players are continuously involved in R&D activities for more advance solutions.
Market Segmentation
Market By Type
Market By Power Rating
Market By Application
Market By Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
The IGBT or insulated-gate bipolar transistor is a three-terminal power semiconductor device that provides a steady supply of electricity to reduces the congestion in power supply, which leads to optimized power utilization.
IGBT is widely used in high voltage applications that require lower conduction losses.
The rapidly increasing demand for electric vehicles owing to the carbon emission regulation is driving the market value.
The global IGBT market is expected to grow at a CAGR of around 8.4% from 2020 to 2027.
The global IGBT market is projected to reach the market value of around US$ 10,303.3 Mn by 2027.
By type, the modular IGBT segment accounted for the major share in 2019.
By power rating, the high-power segment having the potential share in the global market. The segment is also projected to maintain its dominance over the estimated period from 2020 to 2027.
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