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How the Insulated Gate Bipolar Transistor (IGBT) Market Has Progressed: A Look Back Over the Past Few Years?
The market size of the insulated gate bipolar transistor (igbt) has rapidly expanded in the latest years. It is projected to increase from $9.33 billion in 2024 to $10.37 billion in 2025, with a compound annual growth rate (CAGR) of 11.1%. The historic period's growth is due to the augmented demand for power electronics, the growing need for energy efficiency, the emergence of industrial automation, the rising demand for electronic components, and the increasing consumer electronics sector's demand.
In the coming years, the market size for the Insulated Gate Bipolar Transistor (IGBT) is anticipated to experience swift expansion, reaching the $16.72 billion mark by 2029, with a CAGR of 12.7%. The anticipated growth during this forecast period can be traced back to several factors such as emerging electric mobility, the rise in energy storage systems, the expanding demand in aerospace and defense sectors, increasing electrification, and the burgeoning renewable energy sector. A few key trends predicted during this forecast period comprise the adoption of wide bandgap semiconductors, the trend towards miniaturization, integration with silicon carbide (SiC) diodes, smart IGBTs, and digital control.
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What's Driving the Upward Growth Trajectory of the Insulated Gate Bipolar Transistor (IGBT) Market?
The rise in manufacturing electric vehicles (EVs) is set to drive the expansion of the insulated gate bipolar transistor (IGBT) market. As a type of semiconductor device that operates as an electronic switch, the IGBT plays a crucial role in rummaging DC power from a car battery and transforming AC control signals into the high power required to activate the motor via an inverter. Due to its rapid-switching attributes, IGBT is an exceedingly efficient element for EV motors, allowing less power consumption and promoting more range. The escalating production of EVs triggers a considerable need for IGBTs.
As predicted by the International Energy Agency (IEA), the number of electric vehicles on the roads would reach 125 million by 2030. The worldwide sales of electric cars surged approximately by 140% in the first. The International Energy Agency, a France-based intergovernmental organization, reported that the sales of electric vehicles stood at 10 million in 2022, and it is projected to climb to 14 million in 2023. Consequently, the escalating manufacturing of electric vehicles is propelling the growth of the insulated gate bipolar transistor market.
Which Segments in the Insulated Gate Bipolar Transistor (IGBT) Industry Are Seeing the Fastest Growth?
The insulated gate bipolar transistor (igbt) market covered in this report is segmented -
1) By Type: Discrete, Modular
2) By Power Rating: High Power, Medium Power, Low Power
3) By End-User: EV/HEV, Renewables, UPS, Rail, Motor Drives, Industrial, Commercial
Subsegments:
1) By Discrete: Standard Discrete IGBTs, High Voltage Discrete IGBTs, Low Voltage Discrete IGBTs
2) By Modular: IGBT Power Modules, Multi-chip IGBT Modules, Integrated Power Modules (IPM)
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How Will Shifting Market Trends Influence Insulated Gate Bipolar Transistor (IGBT) System Adoption?
Leading firms in the insulated gate bipolar transistor (IGBT) market are concentrating on introducing innovative products like the GT30J65MRB, with the aim of offering dependable services to clients. The GT30J65MRB is utilized as an insulated gate bipolar transistor in various areas such as power factor correction (PFC) air conditioners, domestic appliances, and industrial equipment power supplies. A significant example is Toshiba Electronic Devices & Storage Corporation, a Japanese firm that produces electronic devices. They launched the GT30J65MRB in March 2023. This is a discrete insulated gate bipolar transistor (IGBT) with a rating of 650 volts. It is used as an inverter in air conditioning units. The GT30J65MRB also significantly reduces switching losses, with a minimum enhancement of 40% over its predecessors.
Which Global Regions Are Powering Demand in the Insulated Gate Bipolar Transistor (IGBT) Market?
Asia-Pacific was the largest region in the insulated gate bipolar transistor (IGBT) market in 2024. The regions covered in the insulated gate bipolar transistor (IGBT) market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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How Key Players Are Driving Growth in the Insulated Gate Bipolar Transistor (IGBT) Market?
Major companies operating in the insulated gate bipolar transistor (IGBT) market include Renesas Electronics Corporation, Infineon Technologies AG, Fuji Electric Co. Ltd., ROHM Co. Ltd., SEMIKRON International GmbH, ABB Group, Advanced Power Electronics Corporation, Alpha and Omega Semiconductor Inc., Applied Power Systems Inc., C&H Technology Inc., Darrah Electric Company, Dynex Semiconductor Ltd., Infineon Technologies AG, Jameco Electronics Co., Littelfuse Inc., Microsemi Corporation, Mitsubishi Electric Corporation, NXP Semiconductors N.V., ON Semiconductor Corporation, Powerex Inc., Sensitron Semiconductor Co., Silan Microelectronics Co. Ltd., STMicroelectronics N.V., Toshiba Corporation, Transphorm Inc., Vishay Intertechnology Inc., WeEn Semiconductors Co. Ltd., Wolfspeed Inc., Xilinx Inc., Yangzhou Yangjie Electronic Technology Co. Ltd.
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