What Has Been the Growth Trajectory of the Insulated Gate Bipolar Transistor (IGBT) Market?
The insulated gate bipolar transistor (igbt) market has seen considerable growth due to a variety of factors.
• The market size of the insulated gate bipolar transistor (IGBT) has seen a swift expansion in the past few years. The market size is projected to rise from $9.33 billion in 2024 to $10.56 billion in 2025, marking a compound annual growth rate (CAGR) of 13.2%.
The surge in growth during the historical timeframe is owing to factors such as elevated demand for power electronics, the necessity for more energy efficiency, escalation in industrial automation, a surge in demand for electronic components, and a rise in demand within the consumer electronics industry.
What Does the Future Hold for the Insulated Gate Bipolar Transistor (IGBT) Market?
The insulated gate bipolar transistor (igbt) market is expected to maintain its strong growth trajectory in upcoming years.
• The market for Insulated Gate Bipolar Transistor (IGBT) is projected to experience a surge in growth in the coming years, anticipating to reach $17.47 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 13.4%.
The projected growth within this forecast period is linked to factors such as the escalation of electric mobility, expansion of energy storage systems, increased demand within aerospace and defense sectors, extensive electrification, and the growth of renewable energy. The anticipated trends throughout the forecast period include the adoption of wide bandgap semiconductors, a trend towards miniaturization, integration with sic diodes, smart IGBTs, and digital control.
What Are the Critical Driver Fuelling the Insulated Gate Bipolar Transistor (IGBT) Market's Growth?
The rise in electric vehicle (EV) manufacturing is anticipated to drive the growth of the insulated gate bipolar transistor (IGBT) market. IGBTs are semiconductor equipment utilized as electronic switches that transform DC power from an automobile battery and turn AC control signals into the elevated power required for moving the motor via an inverter. The IGBT is an effective component for EV motors owing to its swift-switching traits, leading to decreased power consumption and thus increased distance coverage. The accelerated manufacturing of EVs will create considerable IGBT demand. For example, the International Energy Agency (IEA) predicts there will be 125 million electric vehicles on the roads by 2030. Global electric car sales saw an increase of around 140% in the beginning. According to the IEA, a France-based intergovernmental organization, electric vehicle sales reached 10 million in 2022, and they project growth to 14 million electric vehicle sales in 2023. As a result, the surge in electric vehicle manufacturing propels the insulated gate bipolar transistor market.
How Is the Insulated Gate Bipolar Transistor (IGBT) Market segmented?
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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What New Trends Are Influencing the Insulated Gate Bipolar Transistor (IGBT) Market?
Leading firms in the insulated gate bipolar transistor (IGBT) industry are concentrating on product innovation, such as the GT30J65MRB, to deliver dependable services to their clients. The GT30J65MRB is employed in power factor correction (PFC) air conditioning units, household appliances, and power supplies for industrial machinery as an insulated gate bipolar transistor. For example, in March 2023, the GT30J65MRB, a discrete insulated gate bipolar transistor (IGBT) with a 650 volts (V) rating, was unveiled by Toshiba Electronic Devices & Storage Corporation, a company based in Japan specializing in electronic devices manufacturing. The GT30J65MRB, used as an inverter in air conditioning units, improves switching losses, showing at least a 40% enhancement compared to devices of the previous generation.
Who Are the Key Players 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.
What Is The Most Dominant Region 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.
