IGBT Market Analysis, Trends, and Industry Size will grow USD 12.24 billion by 2030
Research Reports
May 11, 2023
Market Research Future Insights:
The global IGBT Market is expected to grow from USD 5.12 billion in 2021 to USD 12.24 billion by 2030, at a CAGR of 5% during the forecast period (2022-2030). The increasing demand for energy-efficient devices and the growing adoption of electric vehicles are expected to drive the growth of the IGBT market.
The market is highly competitive and fragmented, with the presence of several regional and global players.
Key Players
The key players operating in the market include
- Infineon Technologies AG
- Mitsubishi Electric Corporation
- Fuji Electric Co. Ltd.
- Semikron International GmbH
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Market Segmentation:
The global IGBT market has been segmented based on type, power rating, voltage, application, and region.
Based on type, the market has been segmented into discrete IGBT and IGBT modules. The IGBT modules segment is expected to hold the largest market share during the forecast period, as it offers a higher power density and more efficient heat dissipation.
Based on power rating, the market has been segmented into low, medium, and high power. The medium power segment is expected to hold the largest market share during the forecast period, as it offers a balance between cost and performance.
Based on voltage, the market has been segmented into low voltage and high voltage. The high voltage segment is expected to hold the largest market share during the forecast period, as it is widely used in electric vehicles and renewable energy systems.
Based on application, the market has been segmented into industrial, consumer electronics, automotive, renewable energy, and others. The automotive segment is expected to hold the largest market share during the forecast period, due to the growing adoption of electric vehicles and the increasing demand for energy-efficient devices in the automotive industry.
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Regional Analysis:
The global IGBT market has been analyzed across five key regions, namely North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
Asia-Pacific is expected to hold the largest market share during the forecast period, due to the growing adoption of electric vehicles and the increasing demand for energy-efficient devices in the region.
Europe is expected to witness the highest CAGR during the forecast period, due to the increasing adoption of renewable energy sources and the growing demand for energy-efficient devices in the region.
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Industry Trends:
The global IGBT market is witnessing several trends, such as the increasing demand for energy-efficient devices, the growing adoption of electric vehicles, and the increasing adoption of renewable energy sources.
The increasing demand for energy-efficient devices is expected to drive the growth of the IGBT market during the forecast period. IGBTs are widely used in a variety of applications, such as industrial, consumer electronics, and renewable energy systems, due to their high efficiency and low power consumption.
The growing adoption of electric vehicles is expected to drive the growth of the IGBT market during the forecast period. IGBTs are used in electric vehicle powertrains to convert the DC voltage from the battery to AC voltage for the electric motor.
The increasing adoption of renewable energy sources is expected to drive the growth of the IGBT market during the forecast period. IGBTs are used in renewable energy systems, such as solar and wind power, to convert the DC voltage from the panels or turbines to AC voltage for the grid.
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