IGBT (Insulated Gate Bipolar Transistor) and Super Junction MOSFET are power semiconductor devices that are widely used in automotive electronics such as engine control modules, battery management systems, and electric vehicle motor drive applications owing to their low turn-on and turn-off times and low conduction losses. These devices are used as switches in circuits that require high efficiency, fast switching and ability to handle large voltages and currents. The global automotive industry is witnessing significant growth with rising vehicle production and increasing integration of electronic components in vehicles. With governments worldwide pushing for electrification of transportation systems, the demand for IGBTs and MOSFETs is expected to surge significantly in the coming years.
The Global IGBT and Super Junction MOSFET Market is estimated to be valued at US$ 18637.33 Mn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the IGBT and Super Junction MOSFET market are Pfizer Inc. (U.S.), ARGON MEDICAL (U.S.), Edwards Lifesciences Corporation (U.S.), BD (U.S.), Alcaliber S.A. (Spain), Lupin Pharmaceuticals, Inc. (India), Vitaltec Corporation (China), Medtronic (U.S.), Koninklijke Philips N.V. (The Netherlands), Siemens Healthcare GmbH (Germany), Hitachi Medical Corporation (U.S.), and Canon Medical Systems Corporation (Japan). The growing demand for IGBTs from the electric vehicle industry is a major factor boosting the market growth. With advancements in wide bandgap materials like silicon carbide (SiC) and gallium nitride (GaN), power semiconductors can switch at even higher frequencies with lower power losses, making them ideal for high-efficiency power conversion applications.
Market trends:
1. Wide bandgap materials: GaN and SiC based IGBTs and MOSFETs offer significantly lower conduction and switching losses compared to their silicon counterparts due to their wide bandgaps and higher breakdown field strengths. This makes them suitable for applications requiring high switching frequencies and high operating temperatures.
2. Integration of power semiconductors: Monolithic integration of power devices, control ICs and gate drivers on a single chip reduces parasitics and enables miniaturization of power modules. Integrated devices cater to the demand for compact and efficient power electronic systems.
Market Opportunities:
1. Electric vehicles: Rapid growth of the worldwide EV market presents lucrative opportunities for power semiconductor manufacturers. IGBTs and MOSFETs have a major role to play in electric drivetrains, on-board chargers and battery management systems.
2. Renewable energy systems: Power devices are critical components in solar and wind energy conversion equipment. Their demand is expected to steadily rise in line with increasing focus on alternative and clean energy sources.
Impact of COVID-19 on IGBT And Super Junction MOSFET Market Demand Growth
The COVID-19 pandemic has adversely impacted the growth of the IGBT and Super Junction MOSFET market. Stringent lockdowns and restrictions on travel and transportation enforced by governments globally disrupted supply chains. This led to reduced availability of raw materials for manufacturers. Further, with employees working from home, the demand for electronic devices from consumers decreased significantly in 2020. The pandemic also postponed or cancelled investments in automotive, industrial and renewable energy projects which are major end-users of IGBT and MOSFET components. However, with mass vaccination drives and relaxation of COVID norms from 2021, the supply chains resumed operations and new orders flowed in. Many technologies related to medical devices, communication infrastructure, data centers also saw increased demand which boosted the market. Nevertheless, the market is yet to fully recover from the economic damages of 2020.
Regions with Concentration of IGBT and Super Junction MOSFET Market Value
In terms of value, the IGBT and Super Junction MOSFET market is most concentrated in Asia Pacific region particularly in countries like China, Japan, South Korea and India. These countries are global hubs for electronics and automotive production. They account for over 60% of the global demand for power semiconductors used in devices, equipment and vehicles manufactured in the region for domestic as well as export markets. North America and Europe are other major regional markets led by the US, Germany respectively due to establishment of automotive OEMs and presence of ancillary industries.
Fastest Growing Region in IGBT and Super Junction MOSFET Market
Currently, the fastest growing regional market for IGBT and Super Junction MOSFET is South East Asia led by countries like Indonesia, Vietnam, Philippines and Thailand. This is due to rising electronics exports, entry of global automakers in local production and focus of governments on developing renewable energy sectors in these nations. South East Asia is witnessing exponential economic growth backed by rising incomes, growing youth population and increasing foreign investments. Due to availability of cheap labor and resources, many electronic and components manufacturing units are being set up in the region propelling the power semiconductor demand upwards in the coming years.
Get more insights, On IGBT and Super Junction MOSFET Market
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