The Insulated Gate Bipolar Transistor (IGBT) Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Insulated Gate Bipolar Transistor (IGBT) Global Market Report 2024, The insulated gate bipolar transistor (igbt) market size has grown rapidly in recent years. It will grow from $8.32 billion in 2023 to $9.48 billion in 2024 at a compound annual growth rate (CAGR) of 14.0%. The growth in the historic period can be attributed to increased demand for power electronics, increased need for energy efficiency, rise in industrial automation, increased demand for electronic components, increased demand in consumer electronics sector.
The insulated gate bipolar transistor (igbt) market size is expected to see rapid growth in the next few years. It will grow to $15.77 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to rising electric mobility, increasing energy storage systems, growing demand from aerospace and defense, increasing electrification, renewable energy expansion. Major trends in the forecast period include adoption of wide bandgap semiconductors, miniaturization trend, integration with sic diodes, smart igbts, digital control.
The increased production of electric vehicles (EV) is expected to propel the growth of the insulated gate bipolar transistor (IGBT) market. IGBTs are a type of semiconductor device used as an electronic switch that is used to take DC power from a car battery and convert AC control signals to the high power needed to turn the motor through an inverter. IGBT is a highly efficient component for EV motors due to its fast switching characteristics which lead to less power usage resulting in greater mileage. There will be a significant demand for IGBTs in response to the increased production of EVs. For instance, according to the International Energy Agency (IEA), there will be 125 million electric vehicles on the roads by 2030. The global electric car sales increased by roughly 140% in the first. For instance, in July 2023, according to the International Energy Agency, a France-based intergovernmental organization, sales of electric vehicles were 10 million in 2022, and there will be an increase to 14 million sales of electric vehicles in 2023. Therefore, the increased production of electric vehicles drives the insulated gate bipolar transistor market.
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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
Major companies operating in insulated gate bipolar transistor (IGBT) are focusing on innovating new products, such as the GT30J65MRB, to provide reliable services to customers. GT30J65MRB is used as an insulated gate bipolar transistor within power factor correction (PFC) air conditioners, home appliances, and power supplies for industrial equipment. For instance, in March 2023, Toshiba Electronic Devices & Storage Corporation, a Japan-based company that manufactures electronic devices, launched the GT30J65MRB. GT30J65MRB is a 650 volts (V) -rated discrete insulated gate bipolar transistor (IGBT). GT30J65MRB is used as an inverter in air conditioners. GT30J65MRB enhances switching losses with an improvement of at least 40% when compared to previous-generation devices.
The insulated gate bipolar transistor (igbt) market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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