Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!
What are the Historic and Forecast Market Sizes For Global Insulated Gate Bipolar Transistor (IGBT) Market?
Over recent years, the insulated gate bipolar transistor (IGBT) market has grown rapidly, with its size set to increase from $9.33 billion in 2024 to $10.56 billion in 2025, showing a compound annual growth rate (CAGR) of 13.2%. This rapid growth is largely due to a surge in demand for power electronics, a greater need for energy efficiency, and an increase in industrial automation. Increased demand for electronic components in the consumer electronics sector also played a significant role in this growth.
Further growth is expected in the coming years, with the IGBT market predicted to reach $17.47 billion in 2029, characterized by a CAGR of 13.4%. This growth will be largely driven by rising electric mobility, increasing energy storage systems, growing demand from the aerospace and defense sector, and a surge in electrification. The expansion of renewable energy sources is set to be another key driver. Key trends set to impact the market include the adoption of wide bandgap semiconductors, miniaturization, integration with sic diodes, smart IGBTs, and digital control.
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What’s Driving The Insulated Gate Bipolar Transistor (IGBT) Market Growth?
One of the main factors driving the IGBT market growth is the increase in production of electric vehicles (EV). IGBTs, a type of semiconductor device used as an electronic switch, convert DC power from a car battery into the high power AC control signals needed to turn the motor. Their fast-switching characteristics make IGBTs highly efficient components for EV motors, leading to greater vehicle mileage. The growing production of EVs is therefore leading to a significant demand for IGBTs. For instance, according to the International Energy Agency, sales of electric vehicles are expected to increase from 10 million in 2022 to 14 million in 2023.
What Are the Principal Segments of The Global Insulated Gate Bipolar Transistor (IGBT) Market?
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
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Which Key Players Are Shaping The Insulated Gate Bipolar Transistor (IGBT) Market Landscape?
Major companies operating in the 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.,
Which Emerging Trends Are Impacting The Insulated Gate Bipolar Transistor (IGBT) Market Landscape?
In an effort to offer reliable services, major companies within the IGBT market are focusing on the innovation of new products, such as the GT30J65MRB. Used as an insulated gate bipolar transistor in power supply for industrial equipment, along with home appliances and power factor correction (PFC) air conditioners, the GT30J65MRB enhances switching losses with a minimum 40% improvement compared to previous-generation devices.
Which Region Leads in The Insulated Gate Bipolar Transistor (IGBT) Market?
In 2024, Asia-Pacific was the largest region in the IGBT market. The report covers the global insulated gate bipolar transistor (IGBT) market in Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Insulated Gate Bipolar Transistor (IGBT) Market Report 2025 Offer?
The insulated gate bipolar transistor (IGBT) refers to a three-terminal semiconductor switching device used in a variety of electronic devices for fast switching with high efficiency. The IGBTs are typically employed in amplifiers to switch/process complex wave patterns with pulse width modulation (PWM). The Insulated Gate Bipolar Transistor (IGBT) Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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