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IGBT Market to grow at 12.5% CAGR by 2027
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Summary
A New Market Study, titled “IGBT Market Upcoming Trends, Growth Drivers and Challenges” has been featured on Market Research Future.
The global IGBT market is growing rapidly, mainly due to the rising adoption of these transistors in power electronics, Pulse Width Modulated (PWM) servo, and three-phase drives requiring high dynamic range control & low noise. Besides, key advantages of Insulated Gate Bipolar Transistor (IGBT), such as low state voltage drop due to conductivity modulation and superior state current density, drive the market growth.
Additionally, major advantage gained by IGBT device over BJT or MOSFET, such as greater power gains than the standard bipolar type transistor due to the higher voltage operation and lower input losses of the MOSFET, escalates the market growth. Market Research Future (MRFR), in its recent IGBT market forecast, asserts that the market is forecasted to grow at 12.5% during the assessment period (2017-2023).
Increasing demand for electric vehicles and high voltage operating devices influences the IGBT market growth. Additionally, rising IGBT applications, such as in Uninterruptible Power Supplies (UPS), Switched-Mode Power Supplies (SMPS), and other power circuits requiring high switch repetition rates, boost the market growth. Also, the increasing deployments of AC systems and the adoption of IGBT to measure electrical parameters accelerate the IGBT market share.
Furthermore, increasing usages of IGBT driving inductive loads such as coil windings, electromagnets, and DC motors expand the growth of the market. Moreover, the higher adoption of IGBT in energy & power, automotive, and consumer electronics industries push market growth.
Conversely, current leakage at high temperature is a significant factor projected to impede the market growth. Nevertheless, substantial R & D investments in the product and technology developments would support the growth of the IGBT market throughout the assessment period.
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IGBT Market – Segmentation
The report is segmented into four dynamics;
By Type: Discrete IGBT and IGBT Module.
By Power Rating: Low, Medium, and High Power.
By Application: Energy & Power, Consumer Electronics, Inverter, UPS, and others.
By Regions: Americas, Europe, APAC, and Rest-of-the-World.
Global IGBT Market – Geographical Analysis
The Asia Pacific region leads the IGBT market. The largest market share attributes to the focus on power transmission, renewable energy, and the adoption of IGBT in electric vehicles. Besides, increasing IT expenditures to cater to end-user storage needs, drive the growth of the market. Moreover, the continuous need to upgrade existing distribution infrastructures to serve the region-wide growing demand for electricity substantiates the market growth.
Also, extensive power plant capacity additions, economic growth, and the need to improve access to electricity boost the growth of the regional market. China, Japan, India, and South Korea hold major shares in the regional market, driving the expansion of grids and instrument transformers. The growing power utilities and OEMs industries and the wide adoption of transformers push the regional market growth.
Europe stands second in the global IGBT market. The region is witnessing a rapid expansion stage of the IGBT market. The market growth is driven by the rise in the industrial growth and aging infrastructures in the region. Furthermore, swift electrification and increasing power requirements due to rapid industrialization increase the IGBT market size. Additionally, rising investments in smart grids and electricity production, alongside the growing demand for green energy, foster the regional market growth.
The North America IGBT market is growing rapidly. Factors such as technological advances in and increasing power usages in data centers & other applications propel the IGBT market growth. Besides, rising investments in expanding power solutions and the increasing adoption of advanced transistor stimulate the IGBT market share in the region. Moreover, increased adoption of IGBT across various industry verticals fuels the growth of the regional market.
Global IGBT Market – Competitive Analysis
Highly competitive, the IGBT market appears fragmented due to the presence of several well-established industry players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, collaboration, product launch, and expansion. They deliver reliable, leading-edge products and services. For which they invest substantially in R&D to develop adept technologies and products.
Major Players:
Players leading the global IGBT market include Infineon Technologies AG (Germany), Renesas Electronics Corporation (Japan), Fuji Electric Co. Ltd (Japan), SEMIKRON International GmbH (Germany), ROHM Co. Ltd. (Japan), Mitsubishi Electric Corporation (Japan), Hitachi Ltd. (Japan), Toshiba Corporation (Japan), ON Semiconductor (US), NXP Semiconductors NV (the Netherland), ABB Ltd. (Switzerland), and STMicroelectronics NV (Switzerland) among others.
Industry/ Innovation/ Related News
September 21, 2020 —- Fuji Electric Corp of America, a wholly-owned subsidiary of Fuji Electric Co., Ltd. (Japan) responsible for sales & distribution of its power electronics equipment, launched the newest Small Intelligent Power Module (IPM). Addition of the new IPM modules line is based on the company’s 7th-Generation X-Series IGBT Technology.
Fuji Electric is a leading global developer of IGBT modules used in today’s power electronic systems, including variable-speed drives, power converters, uninterruptable power supplies, renewable energy systems, and HVAC. The latest IPM modules are equipped with a control IC providing IGBT drive and protection circuits, making peripheral circuits straightforward and ensuring high system reliability.
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