By the end of 2022, the insulated gate bipolar transistor (IGBT) market is predicted to generate an additional opportunity worth US$7.7 billion. IGBT sales are anticipated to surpass US$ 12.5 Bn by 2032, increasing at a CAGR of 11.6 percent from 2022 to 2032. IGBT sales are increasing as a result of rising demand for Metal Oxide Semiconductor Field-Effect Transistor (MOSFET) substitutes with greater voltage and current compatibility.
| Report Attribute | Details |
| Expected Market Value (2022) | US$ 7.7 Billion |
| Anticipated Forecast Value (2032) | US$ 12.5 Billion |
| Projected Growth Rate (2022-2032) | 11.6% CAGR |
| Historic Growth Rate (2015-2021) | 9% CAGR |
Insulated Gate Bipolar Transistor formally known as IGBT is a power electronic semiconductor device. This device have its major application in switches, phase control and pulse modulation because of its high efficiency and fast switching. Electric power is a basic requirement of modern society and absence of electricity will create a huge loss and damage to human life as well as society.
IGBT helps in reducing the congestion in power supply which will results into smooth electricity supply. IGBT have applications across various industrial verticals because of high power efficiency, ability to work in low power and high blocking voltage. IGBT is coming into focus because of its ability to lower switching loss which reduces thermal stress on electric device and results into extended device life and provides greater reliability. This market is very attractive and projected to grow rapidly because of increasing investment in Research and development of IGBT chips, module optimization for reduction in power consumption, modified chip density and thermal resistivity. These all features of IGBT are helping in strengthening the market position of IGBT power electronic semiconductor device market.
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IGBT Market Dynamics
Global IGBT market is currently in its growth stage and shows significant potential across various industrial verticals. Major factors which are driving the growth of global IGBT market are increasing demand of replacement of old power infrastructures in developed regions such as North America and Europe, increasing government incentives and growing need of improved power cycling capacity and thermal capacity. Apart from these, increasing demand of energy efficient electronic devices, IGBT’s ability to improve efficiency of several electronics devices and also ability to play important role in technological advancement of power electronic has further fuelled this market growth. Factors which are restraining the growth of global IGBT market are lack of awareness, high cost, high initial investment, lack of stable characteristic of device in high temperature and economic slowdown. However, this restraints are expected to minimize their impact on market for long run. Global IGBT market have opportunity in future with deployment of smart grid, which will helps in boosting global IGBT market.
IGBT Market Segmentation
Global IGBT market is segmented on the basis of applications, types and regions. On the basis of applications the global IGBT market is sub segmented into electric and hybrid electric vehicle (EV/HEV), industrial motor drives, traction, transportation, HVAC, renewable energy, UPS, series compensation and other applications. Among all this applications demand of EV/HEV is estimated to lead growth of global IGBT market during forecasted period. Rapid growth in green energy sector is also boosting the global IGBT market. On the basis of types the market is sub segmented into IGBT module and discrete IGBT.
Geographically, the IGBT market is sub segmented into seven global regions, North America, Latin America, Asia – Pacific (excluding Japan), Japan as a separate region, Western Europe, Eastern Europe and Middle East and Africa Region. Europe region is dominating the present global IGBT market in terms of market value with Germany and U.K leading the market growth. Asia – Pacific is estimated to be fastest growing region during forecasted period with technological development in china and Japan market is also expected to grow for IGBT. North America and other remaining regions are also projected to be very promising market for IGBT. Demand in Middle East region will further fuelled the global IGBT market growth.
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IGBT Market Key Players
Key players of Global IGBT market includes Fujitsu Ltd., Infineon Technologies AG, STMicroelectronics N.V., NXP Semiconductors N.V., Vishay Intertechnology, Fairchild Semiconductor International, Inc., Toshiba Corporation, Inc., ROHM Co. Ltd., Fuji Electric Co. Ltd and Renesas Electronics Corporation, among others. These key players are following trend of large scale collaborations and partnership. These strategies will be beneficial for them in expanding their global footprints and increasing global market share.
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