IGBT’s applicability can be found in niches such as power electronics, especially in Pulse Width Modulated (PWM) servo and three-phase drives requiring high dynamic range control and low noise; Uninterruptible Power Supplies (UPS); Switched-Mode Power Supplies (SMPS); and other power circuits requiring high switch repetition rates. The growing range of applications is one of the key drivers of the market growth. Other factors responsible for the growth of the IGBT market are low on-state voltage drop, superior on-state current density, increasing demand for electric vehicle, aggrandized need for high voltage operating devices, etc. The accelerating market growth can also be attributed to the large-scale adoption of the technology. However, current leakage at high temperature is a major restraint to the market growth.
The latest report published by Market Research Future (MRFR) reveals that the Insulated Gate Bipolar Transistor (IGBT) market will grow extensively at 12.5% CAGR over the assessment period (2017-2023). As IGBT combines the insulated gate technology of the Metal Oxide Semiconductor Field Effect Transistor (MOSFET) with the output performance characteristics of a conventional bipolar transistor, the resultant hybrid technology is driving the market for IGBT.
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Global IGBT market research report: by type (discrete IGBT, IGBT module), power rating (low, medium, high power), application (energy and power, consumer electronics, inverter, and UPS) – Forecast till 2023
IGBT Market Research Report- Global Forecast to 2023
By type, the market is segmented into discrete IGBT, and, IGBT module. IGBT module segment is a key revenue contributor of the market and represents potential to grow extensively throughout the assessment period. The factors responsible for the growth of this segment are ease-of-control at high voltage, efficient utilization, etc. The discrete IGBT segment is expected to grow moderately due to a rapid increase in demand for IGBT in lower-current applications.
By power rating, the IGBT market is segmented into low power, medium power, and, high power. The high power segment accounts for a significant share in the market share and control and exhibits more potential for growth.
By applications, the IGBT market has been segmented into consumer electronics, energy and power, and, inverter & UPS. These segments represent enormous growth owing to exponentially increasing demand.
By region, the global IGBT market has been segmented into North America, Europe, Asia Pacific, and, Rest of the World (RoW). The Asia Pacific segment is poised to be the fastest growing market owing to factors such as increasing demand of IGBT infused electric vehicles, increasing IT expenditures, improvement in power transmission, use of renewable energy, etc. The technological advancements in countries such as China, Japan, and, India will also fuel the growth in the region.
The Europe segment will hold the second spot in terms of market share and will exhibit moderate growth across the projection period. The growth in Europe segment is attributed to the presence of major players in the region, and, increased investments in the research and development activities. North America segment will demonstrate growth due to the adoption of next-gen technology. The growth of the global market for IGBT will fuel the market growth in Middle East & Africa segment.
The top-notch market players profiled in the report by MRFR are Renesas Electronics Corporation (Japan), ROHM Co. Ltd. (Japan), Mitsubishi Electric Corporation (Japan), Hitachi Ltd. (Japan), ABB Ltd. (Switzerland), STMicroelectronics N.V. (Switzerland), Infineon Technologies AG (Germany), Fuji Electric Co. Ltd (Japan), SEMIKRON International GmbH (Germany), Toshiba Corporation (Japan), ON Semiconductor (U.S.), and, NXP Semiconductors N.V (the Netherland). The competitive landscape of the market represents fierce competition with key players striving to gain an edge over others. The activities undertaken by the market players to tap the opportunities of growth are innovation, expansion of product portfolio, research & development, innovation, acquisition & merger, etc.
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