PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515457
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515457
Insulated-Gate Bipolar Transistors (IGBTs) Market size was valued at USD 7,581.2 Million in 2023, expanding at a CAGR of 11.80% from 2024 to 2032.
Insulated gate bipolar transistors, or IGBTs, are indispensable in a wide range of industries due to their efficiency in managing circuits with high to medium voltages. IGBTs are primarily employed for fast on/off switching of complicated waveform generation. Switching amplifiers are particularly useful for sound systems since precise control over electrical impulses is required to achieve optimal audio quality. IGBTs are an essential part of industrial control systems because they may function as switches and enable fine input control by combining isolated gate FETs.
Insulated-Gate Bipolar Transistors (IGBTs) Market- Market Dynamics
Enhanced Thermal Capacity and Power Cycling in Electrical Devices to Propel Market Growth
The market for insulated gate bipolar transistors is expanding remarkably due to a number of important aspects that highlight how essential these transistors are to contemporary electronics and industrial applications. The growing need for electronic equipment to have better power cycling and thermal capacity is one such reason. The requirement for parts that can manage higher power loads and effectively dissipate heat is growing as electronic systems become more complex and power-hungry. IGBTs are becoming increasingly important in achieving these requirements because of their capacity to handle high currents and temperatures. In addition, there is an increase in demand from a variety of industries for electronic gadgets that use less energy. In order to improve the energy efficiency of products like microwaves, cookers, electric vehicles, trains, and variable-speed refrigerators, IGBTs are essential. Their capacity to control power usage and reduce energy loss makes them extremely desirable parts in the pursuit of environmental impact reduction and sustainability.
Insulated-Gate Bipolar Transistors (IGBTs) Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 11.80% over the forecast period (2024-2032)
Based on application segmentation, the industrial system category was predicted to show maximum market share in the year 2023
Based on type segmentation, the discrete IGBT category was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Insulated-Gate Bipolar Transistors (IGBTs) Market is segmented on the basis of Application, Type, Power Rating, and Region.
The market is divided into two categories based on type: Discrete IGBT and IGBT Module. The discrete IGBT category dominates the market and is likely to maintain its dominance during the forecast period. Discrete IGBTs are independent parts that are frequently employed in particular applications. These individual transistors are adaptable in terms of both design and use, which makes them appropriate for a range of power electronics applications. Enhancing performance metrics, like power density and switching speed, to satisfy a range of application needs is one trend.
The market is divided into three categories based on power rating: High Power, Medium Power, and Low Power. The high power category dominates the market. High power IGBTs are used in situations where they can carry current and provide voltage-based gate control, among other functions. Because of its growing application acceptance in a number of industries, including automotive (EV/HEV), inverters/UPS, railways, and renewables, the market for high power ratings is anticipated to grow tremendously.
Insulated-Gate Bipolar Transistors (IGBTs) Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Over the course of the forecast period, Asia Pacific is anticipated to hold the greatest share of the global market for insulated-gate bipolar transistors (IGBTs). Due to the growing popularity of electric vehicles, China, a pioneer in the production of these vehicles, is substantially increasing its market share in the region. Furthermore, the need for energy-efficient solutions is rising in nations like India and Japan, which is driving market expansion. The Asia Pacific region presents a favorable environment for the growth of the insulated gate bipolar transistors market, guaranteeing steady growth throughout the forecast period. This is due to the region's strong presence of electronic and semiconductor manufacturers in countries like China, South Korea, and India, as well as technological advancements.
In addition, the insulated-gate bipolar transistors (IGBTs) market is anticipated to expand at the fastest rate in the world during the projected period in North America. The use of renewable resources and growing awareness are the main drivers of considerable growth in North America. Because of its focus on energy efficiency and sustainability, the market in the region presents a plethora of options. Due to their low power consumption, insulated gate bipolar transistors (IGBTs) are especially popular in North America, where they complement the region's emphasis on energy conservation. In the upcoming years, IGBTs will play a significant role in the region's ongoing economic trajectory as consumers and companies prefer environmentally friendly solutions.
Due to the presence of numerous small and major competitors operating in both domestic and foreign markets, there is moderate competition in the insulated gate bipolar transistor market. Major tactics such as product developments, mergers and acquisitions, and strategic collaborations are being adopted by market participants in order to broaden their product portfolio and increase their geographic reach. Infineon Technologies AG, Fuji Electric Co. Ltd., and Renesas Electronics Corp., among others, are a few of the market participants.
March 2023: The 650V discrete insulated gate bipolar transistor (IGBT), known as the "GT30J65MRB," was introduced by Toshiba Electronic Devices & Storage Corporation ("Toshiba") for use in power factor correction (PFC) circuits in air conditioners and large power supplies for machine tools. Lower switching loss (turn-off switching loss) allowed for greater frequency operation, which led to the development of Toshiba's first IGBT for PFC for use below 60 kHz, the GT30J65MRB [6].
January 2023: The first in a new line of power devices to be offered in 12 different variants featuring either insulated-gate bipolar transistors (IGBTs) or silicon carbide (SiC) MOSFETs, Microchip Technology announced the release of a new comprehensive hybrid three-phase power drive module. This was done to address the need for an integrated and reconfigurable power solution for aviation applications.
August 2022: In an attempt to enhance the power electronics at the heart of electric vehicles, Renesas Electronics presented a new generation of compact, high-voltage IGBTs. These devices can resist voltages of up to 1,200 V and have current ratings of up to 300 A. By conserving power in the company's AE5 series of IGBTs; automakers will be able to extend the range of electric vehicles and conserve battery charge.
GLOBAL INSULATED-GATE BIPOLAR TRANSISTORS (IGBTS) MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
NXP Semiconductors N.V.
IXYS Corporation
Mitsubishi Electric corp.
Toshiba Corporation
Renesas Electronics corp.
Semikron International GmbH
Fuji Electric Co. Ltd.
STMicroelectronics N.V.
ABB Group
Infineon Technologies AG
Others