The new report by Expert Market Research titled, ‘Insulated-Gate Bipolar Transistors (IGBT) Market Price, Report and Forecast 2021-2026, gives an in-depth analysis of the Insulated-Gate Bipolar Transistors (IGBT) Market, assessing the market based on its segments like type, power rating, application and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 5.8 billion
- Forecast CAGR (2021-2026): 8%
- Forecast Market Size (2026): USD 10 billion
Insulated-Gate Bipolar transistors are available as discrete machines or as modules. Motor drives, electric and hybrid electric vehicles (EV/HEV), inverters, uninterruptible power supplies (UPS), automotive systems, consumer electronics, and medical devices are all examples of IGBT’s applications. The demand for IGBTs is being driven by a growth in the production of electric vehicles (EVs) along with vast manufacturing capabilities. IGBTs play a crucial role in hybrid cars. This industry is currently being driven by the demand for electric cars, which is expected to continue in the forecast period.
Industry Definition and Major Segments
Insulated-Gate Bipolar Transistors (IGBT) stands for inductively coupled bipolar transistor. It is a form of power semiconductor that is used as an electronic switch. It is also known as a minority carrier device because it allows for quicker switching and performance. It’s a low-cost alternative to MOSFETs that can accommodate higher voltage and current. It assists in the energy conservation of electric equipment such as consumer electronics and cars.
By type, the market is divided into:
Based on application, the industry can be segmented into:
- Electric Vehicle
- Renewable Energy
- Inverter and UPS
- Consumer Electronics
- Industrial Manufacturing
In terms of power rating, the market is segmented into:
- Low Power
- Medium Power
- High Power
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The demand in Asia Pacific region is driving the IGBT market at the fastest pace, owing to China’s rapid growth. The demand for IGBTs is being driven by a growth in the production of electric vehicles (EVs) along with vast manufacturing capabilities. IGBTs play a crucial role in hybrid cars. The growing popularity of electric vehicles in Europe, North America, and Asia Pacific is generating new prospects for the insulated-gate bipolar transistor (IGBT) industry to develop.
Moreover, Concerns over greenhouse emissions and the depletion of natural resources have prompted governments all over the world to invest in and manufacture electric cars. Since IGBTs are a critical component of this, the demand is fueled by the increasing popularity of electric vehicles. IGBTs are used in high-voltage applications to provide flexibility and greater power. The demand for IGBTs is also being driven by the transition to smart grids. The high voltage segment is expected to lead the market in terms of power level during the forecast period, while the discrete segment is expected to grow in terms of type. This is intended to aid industry expansion.
Key Market Players
The major players in the market are Infineon Technologies AG, ROHM Co., Ltd, Fuji Electric Co., Ltd, Renesas Electronics Corporation, Toshiba Electronic Devices & Storage Corporation, Hitachi Power Semiconductor Device, Ltd., STMicroelectronics International N.V. and others. The report covers the market shares, plant turnarounds, capacities, investments, expansions and mergers and acquisitions, among other latest developments of these market players.