New York, USA, Oct. 14, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global insulated gate bipolar transistor (IGBT)-based power semiconductor market is anticipated to garner a revenue of $20,103.1 million at a CAGR of 17.6% by 2026, surging from $5,495.5 million in 2018.
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The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
Dynamics of the Market
IGBT based power semiconductor has amazing properties which enhances its applicability in high-power consuming circuits. Moreover, the frequency of switching of the IGBT is much higher than the bipolar junction transistors. IGBT is used extensively in power electronics applications such as power supplies and converters because of its high switching speed. These are the main factors behind the growth of the market.
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Key Segments of the Market
The report has divided the global insulated gate bipolar transistor (IGBT)-based power semiconductor market into different segments based on type, application, and region.
Type: Modules Sub-Segment Expected to be the Most Lucrative
Modules sub-segment is expected to garner the highest revenue at a CAGR of 18.6% during the forecast period. The main reason behind this growth of the segment is the growing demand of thin electronics such as compact laptops and ultra-thin smartphones.
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Application: Consumer Electronics Sub-Segment Expected to be the Most Profitable
The consumer electronics sub-segment accounted for $1,517.1 million in 2018 and is further predicted to register a revenue of $5,430.0 million at a CAGR of 17.3% by 2026. Rising demand of elevated consumer electronic products is the main reason enhancing the growth of the market.
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Regional Analysis: Asia-Pacific Expected to Dominate the Market
Asia-Pacific IGBT-based power semi- conductor market garnered $1,868.5 million in 2018 and is further predicted to continue the dominance by generating a significant revenue at a CAGR of 17.2% during the forecast period. Increasing demand of electronic products in the regional countries is the main attributor behind the growth.
Key Market Players & Strategies
1. Infineon Technologies
2. Mitsubishi
3. Fuji Electric
4. Semikron
5. ON Semiconductors
6. Fairchild Semiconductors
7. Texas Instruments Incorporated
8. STMicroelectronics
9. IXYS
10. Toshiba
These players are focusing on the development of the industry by focusing on various strategies and business tactics such as product renovation, long-term partnership, mergers, acquisitions etc.
Recent Development
In September 2021, Infineon Technologies AG, semiconductor manufacturer based in German, launched new current ratings for its EconoDUAL™ 3 portfolio with TRENCHSTOP™ IGBT7 chips. The portfolio offers a vast range of current classes from 300 A to 900 A along with high-level flexibility, power density and performance to inverter designers.
These players are currently focusing on R&D activities, mergers, acquisitions, partnerships and collaborations to sustain the growth of the market. The report also provides an overview of many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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