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IGBT Market Share, Growth, Latest Trends and Forecast 2020-2030

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IGBT Market Share, Growth, Latest Trends and Forecast 2020-2030

IGBT Market Scope

The global IGBT market share 2020 can advance at a robust pace of 12.5% over the forecast period (2017 to 2023), projects Market Research Future (MRFR).

Growth Boosters and Main Challenges

The insulated gate bipolar transistor or IGBT market share is witnessing a surge in demand, given its rising applications in different industries like rail, automotive, consumer electronics and energy and power, among others. The demand for IGBT components is quite huge in high voltage applications including motor drive inverters, switch-mode power supplies (SMPS), and uninterruptible power supplies (UPS), welding and solar inverters, and such.

Most of the automotive manufacturers are making decent-sized investments in electric vehicles, in the face of increasing number of stringent government regulations that pertain to the energy consumption. Lead free electric vehicles are manufactured using IGBT components, which also boosts the latter’s demand in the automotive industry. Surge in fuel prices has also boosted the sale of electric vehicles, which has created vast profit streams for market vendors.

Advanced technologies like Internet of Things (IoT) and Artificial Intelligence (AI) are viewed as the latest trends emerging in the IGBT market share. The IoT architecture remotely monitors IGBTs leftover life depending on the data history of their component failure. AI, on the other hand, elevates health monitoring as well as dependable predictions of IGBT components within power management converters. This helps cut down the power losses, while managing the power demands in the IGBT modules.

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Competitive Dashboard:

Infineon Technologies AG (Germany), Fuji Electric Co., Ltd. (Japan), ON Semiconductor (US), Mitsubishi Electric Corporation (Japan), STMicroelectronics (Switzerland), Renesas Electronics Corporation (Japan), Vishay Intertechnology (US), ABB Ltd (Switzerland), SEMIKRON (Germany), Hitachi, Ltd. (Japan), Toshiba Corporation (Japan)

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Market Segmentation

The IGBT market forecast by MRFR identifies the top segments as type, power rating and application.

The types of IGBTs available in the worldwide market are discrete IGBT, as well as IGBT module. IGBT modules are the top revenue generator in the overall market, exhibiting the potential to expand significantly throughout the evaluation timeframe. The considerable segmental growth and the product demand is the result of its features including efficient utilization, ease-of-control at high voltage, etc. Rising demand in lower-current applications can stimulate the growth of the discrete IGBT segment in the following years.

Depending on the power rating, the IGBT market has been considered for medium power, high power as well as low power. The high power segment has seized a substantial portion of the market and can retain its leading position during the review period as well.

IGBT is used in a variety of applications in energy and power, inverter & UPS and consumer electronics. All these application-based segments hold lucrative growth potential as the demand for IGBT is increasing exponentially and is projected to soar at a higher speed in the ensuing period.

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Regional Analysis:

By region, the global IGBT market has been segmented into North America, Europe, Asia Pacific, and, Rest of the World (RoW). The Asia Pacific segment is poised to be the fastest growing market owing to factors such as increasing demand of IGBT infused electric vehicles, increasing IT expenditures, improvement in power transmission, use of renewable energy, etc. The technological advancements in countries such as China, Japan, and, India will also fuel the growth in the region.

The Europe segment will hold the second spot in terms of market share and will exhibit moderate growth across the projection period. The growth in Europe segment is attributed to the presence of major players in the region, and, increased investments in the research and development activities. North America segment will demonstrate growth due to the adoption of next-gen technology. The growth of the global market for IGBT will fuel the market growth in Middle East & Africa segment.




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