New York, United States , Jan. 31, 2023 (GLOBE NEWSWIRE) -- The Global Insulated Gate Bipolar Transistor [IGBT] Market Size is to grow from USD 5 billion in 2021 to USD 10 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 9% during the forecast period. The increasing adoption of Insulated Gate Bipolar Transistor [IGBT] devices by different industries such as automotive, consumer electronics, industrial, IT & telecommunication, healthcare, aerospace & defence, and others is the key driving factor.
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Insulated gate bipolar transistor power module functions as voltage-controlled power electronics devices owing to their high switching frequency, they are extensively habituated in high-voltage industry requiring lower conduction loss. Growth in the global market is driven primarily by the growing demand for insulated gate bipolar transistors [IGBT] from various applications, including railways, medical devices, consumer electronics, energy & power, industrial systems, electric vehicles, UPS, inverters, and motor drives. The rising adoption of technologies, such as the growth of electric cars and hybrid vehicles uses IGBT modules since a higher level of consistency is required for the use of electric vehicles and hybrid electric vehicles than the general commercial purposes. In accordance with Edison Electric Institute (EEI), the total EV sales for 2021 were up 35% compared to 2020. The increase in the electric and hybrid electric vehicle market is expected to drive the insulated gate bipolar transistor [IGBT] market in the forecasted period. Furthermore, the insulated gate bipolar transistor [IGBT] is being widely adopted in high-scale renewable systems, such as solar photovoltaic installations, hydroelectricity, and wind turbines.
Browse key industry insights spread across 200 pages with 116 market data tables and figures & charts from the report “Global Insulated Gate Bipolar Transistor [IGBT] Market Size, Share, and COVID-19 Impact Analysis, By Type (Discrete IGBT, Module IGBT), By Power Rating (High Power, Medium Power, Low Power), By Application (Consumer Electronics, Energy & Power, Industrial Manufacturing, Automotive (EV/HEV), Inverters/UPS, Railways, Renewables, Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030“ in detail along with the table of contents.
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The discrete IGBT segment is expected to witness a higher growth rate over the forecast period.
Based on type, the global insulated gate bipolar transistor [IGBT] market is segmented into discrete IGBT and IGBT modules. Among these, the discrete IGBT segment is expected to witness a higher growth rate over the forecast period. It is owing to the advantages of discrete IGBT high current density and low power dissipation resulting in higher efficiency and smaller heat sink to allow lower overall system cost.
The high-power rating segment is anticipated to witness significant CAGR growth over the forecast period.
On the basis of power rating, the global insulated gate bipolar transistor [IGBT] market is segmented into high power, medium power, and low power. Among these, the high-power segment is anticipated to witness significant CAGR growth over the forecast period. In applications, high power IGBT provides the current-carrying ability, gate control using voltage, and others. The high-power rating market is expected to rise exponentially due to its increasing application adoption in several industries such as automotive (EV/HEV), inverters/UPS, railways, and renewables.
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The automotive (EV/HEV) segment is anticipated to generate the highest revenue over the forecast period.
Based on type, the global insulated gate bipolar transistor [IGBT] market is segmented into consumer electronics, energy & power, industrial manufacturing, automotive (EV/HEV), inverters/UPS, railways, renewables, and others. Among these, the power electronics segment is expected to witness a higher growth rate over the forecast period owing to reduced carbon emission regulation, the automobile market is moving towards the electrification of powertrains in electric and hybrid vehicles (EV/HEV), where conduction and switching losses are significantly diminished, having a direct impact on overall efficiency.
Asia Pacific dominates the market with the largest market share of 53%.
Asia Pacific dominates the market with the largest market share of 53%. This growth in the Asia Pacific region is primarily attributed to the increasing EV & BEV sales, charging infrastructure, and the largest manufacturer of electronic components. The rising adoption of industrial IoT and factory automation in manufactory is expected to propel the demand for insulated gate bipolar transistors. North America is expected to grow the fastest during the forecast period. Likewise, Europe is expected to gain dominance in the market after the Asia Pacific. Europe is the first region to implement insulated gate bipolar transistor [IGBT] traction systems in the railways in the transportation category.
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Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Companies Covered: Cree, Intel Corporation, IXYS Corporation, ON Semiconductor, Panasonic Corporation, Fairchild Semiconductor International Inc., Methode Electronics Inc., Fuji Electric Co. Ltd., Danfoss Group, ELAN Electronics, TE Connectivity Ltd., Mitsubishi Electric Corporation, Samsung Semiconductors, ON Semiconductor, Hitachi Ltd., Seiko Epson Corporation, McLaren Applied, Texas Instruments Incorporated, LITTELFUSE Inc., Semikron Electronics GmbH and Co. Inc., Zhengzhou Yutong Group Co., Ltd., Diodes Incorporated, Renesas Electronics Corporation, ROHM Co., Ltd., Semiconductor Components Industries LLC, ABB Group, Infineon Technologies AG, WeEn Semiconductors, STMicroelectronics, Nuvoton Technology Corporation, Mouser Electronics Inc., Maxim Integrated Products Inc., StarPower Semiconductor, Alpha, Omega Semiconductor and Others.
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