Insulated Gate Bipolar Transistor Market Size, Share, Demand 2030

The global insulated gate bipolar transistor market is expected to grow from 7.2 billion in 2021 to USD 17.9 billion by 2030, at a CAGR of 10.7% during the forecast period 2022-2030. An increase in the demand for electric vehicles, hybrid electric vehicles in the developing economies attributed to the rise in disposable income of the population & rising fuel prices will contribute to the growth of the insulated gate bipolar transistor market. Electric and hybrid electric vehicles being high voltage, high current devices need IGBT in its motor to save power and conserve energy. Electric and hybrid electric vehicles will dominate the automotive market in the coming years as they are more fuel-efficient & thereby reduce emissions. Government subsidies & incentives provided for the production & consumption of electric & hybrid electric vehicles encourage the use of energy-efficient technologies such as insulated gate bipolar transistors. The broad scope of applications ranging from microwaves, refrigerators to UAVs will further contribute to the growth of this market.

The module segment dominated the market, with a market value of around 4.17 billion in 2021.

The type segment is divided into discrete & module. The module segment dominated the market, with a market value of around 4.17 billion in 2021. Modular IGBT allows ease of control and enhances energy efficiency, increasing market demand.

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The automotive segment is expected to grow at the fastest CAGR of 13.6% over the forecast period.

The application segment is divided into automotive, commercial, industrial, renewables, railways, UPS & inverter & others. Over the forecast period, the automotive segment is expected to grow at the fastest CAGR of 13.6%. The rising fuel prices have increased the demand for electric & hybrid electric vehicles. These vehicles use IGBTs to achieve energy efficiency to prevent power loss, owing to which the automotive industry will significantly contribute to the demand for IGBTs.

The high voltage segment dominated the market, accounting for around 3.31 billion global revenue.

The power rating segment is divided into high voltage, medium voltage & low voltage. The high voltage segment dominated the market, accounting for around 3.31 billion global revenue. The dominance of this segment can be attributed to its ability to allow ease of control at high voltages. With the increase in demand for high current carrying devices, high voltage IGBTs have become the ideal component choice. It helps achieve a fast-switching rate and energy conservation in high voltage, high current appliances.

Regional Segmentation Analysis:

The market is analyzed based on five regions: North America, Europe, Asia Pacific, South America, and the Middle East and Africa. The Asia Pacific is expected to be the largest market during the forecast period. The insulated gate bipolar transistor market in the Asia Pacific has expanded rapidly. China dominates the insulated gate bipolar transistor market in the Asia Pacific. The increasing demand for electric & hybrid electric vehicles in the developing economies, which is catered by these economies’ equally rising production capacity, contributes to the growth of the insulated gate bipolar transistor market. China is the world’s leading automobile manufacturer, intending to reduce carbon emissions by improving fuel and energy efficiency; the Chinese market is shifting towards the manufacture of electric & hybrid electric vehicles. Increasing infrastructure development is making India an ideal choice for automobile manufacturing. In addition to these, the favorable government policies for the manufacture of hybrid vehicles will help this region maintain its dominance in the global insulated gate bipolar transistor market during the forecast period.

Competitive Analysis:

The market’s major players include Renesas Electronics Corporation, Fuji Electric Co. Ltd., Semikron International GmbH, Infineon Technologies AG, ABB Ltd., Hitachi, ltd., Toshiba Corporation, Fujitsu Ltd., NXP Semiconductors N.V., and ROHM Co. Ltd., among others.