The global IGBT market is projected to grow at a CAGR of 9.02% to reach US$8.696 billion by 2026, from US$4.751 billion in 2019. Insulated-gate bipolar transistor refers to a type of power semiconductor which is used as an electric switch device and offers higher efficiency and faster switching. The higher adoption as compared to Metal Oxide Semiconductor Field-Effect Transistor (MOSFET) is due to its cost-effectiveness at high voltages and current. It enhances energy conservation by enabling power management in various industrial applications including consumer electronics, electric vehicles, and industrial systems.
The surging demand for electric vehicles among consumers is rising the demand for insulated-gate bipolar transistors in the global market during the forecast period, The insulated-gate bipolar transistor plays a vital role in the manufacturing and production of electric vehicles. Owing to its high current carry capability and high voltage the insulated-gate bipolar transistor is widely used in high power to medium powered applications including electric vehicle inverters. In the year 2019, Audi announced the adoption of Hitachi's EV inverter which is equipped with a built-in next-generation insulated-gate bipolar transistor and a power module to provide maximum motor performance owing to the high-power density output. Hence, the rising demand for electric vehicles in the global market is further leading to the adoption of insulated-gate bipolar transistors during the forecast period. Furthermore, the global warming effect and the ever-changing climatic changes are raising awareness regarding the use of energy resources in each field. Thus, the demand from the automotive industry in the manufacturing of electric vehicles to save energy resources is leading to the high adoption of insulated-gate bipolar transistors in the industry sector. The rising fuel prices have further boosted the demand and adoption of electric vehicles in the global market which in turn is fueling the market growth of the global IGBT market.
One of the prime reasons for the growth of the global IGBT industry is the growing concerns to boost the renewable energy foundations which in turn will fuel the market growth of insulated-gate bipolar transistors in the global market. The growing investments by the government of several nations in renewable energy are further leading to the growth of the global IGBT market. Also, the drop in the costs of renewable energy sources such as wind energy, solar energy in recent years is leading to its growing adoption across various industry verticals.
By industry vertical, the global IGBT market is segmented into energy and power, consumer electronics, automotive, travel and transportation, and others. The automotive segment is anticipated to grow at a substantial rate owing to the introduction of electric vehicles as it finds its major application in the smooth operation of electric vehicles in carrying power to the grid at a stable rate. Insulated gate bipolar transistor and FWD chips with an isolation layer, multiple devices, and protection parts are packed into the module to offer increased power, reliability, and prolonged lifetime. By type, the global IGBT market is segmented into discrete IGBT and modular IGBT.
By power rating, the global IGBT market is segmented into high-power, medium-power, and low-power among which the high-power segment is anticipated to grow at a faster pace owing to the large industrial application of high-powered insulated gate bipolar transistor which offers gate control using voltage and high current carrying ability in leading industries such as aircraft, automobile, and UAVs.
Geographically, North America and the Asia Pacific region are expected to show prominent growth during the forecast period owing to the presence of major semiconductor and electronics manufacturers in developing nations including Japan, India, China, and South Korea. The rising applications of insulated gate bipolar transistors in electric vehicles have led to its increasing demand in the region. Also, the technological advancements in the insulated gate bipolar transistors and the rising demand for energy-saving resources in the region are leading to its widespread adoption during the forecast period. The rising implementation and growing awareness of renewable resources among industries and the growing opportunities in the North American region in the insulated gate bipolar transistors market are leading to the rising adoption of insulated gate bipolar transistors in the region during the forecast period.
The design complexities will hamper the growth of the global IGBT market. A major restraint in the growth of the global IGBT market is the design complexities. Latch-up linked with gate control of an insulated gate bipolar transistor can cause easy breakage which may fail the device. A minute decrease in the latching current density accounts for the increase in the increase in the turnoff time and an increase in the ambient temperature. The gate has no longer control over the drain current as the transistor enters the latch-up state. The excessive power dissipation is likely to destroy the bipolar transistor if the latch-up is not terminated quickly. These complexities in the design are expected to hamper the growth of the global IGBT market during the forecast period.
The market leaders in the global IGBT market are Danfoss, Hitachi ABB, Infineon Technologies AG, Fuji Electric Co., Ltd., ROHM Semiconductor, Toshiba Electronic Devices, and Storage Corporation, SEMIKRON, Renesas Electronics Corporation, Mitsubishi Electric Corporation, SEMIKRON International GmbH
Driving Factors
The surging demand for electric vehicles among consumers is rising the demand for insulated-gate bipolar transistors in the global market during the forecast period, The insulated-gate bipolar transistor plays a vital role in the manufacturing and production of electric vehicles. Owing to its high current carry capability and high voltage the insulated-gate bipolar transistor is widely used in high power to medium powered applications including electric vehicle inverters. In the year 2019, Audi announced the adoption of Hitachi's EV inverter which is equipped with a built-in next-generation insulated-gate bipolar transistor and a power module to provide maximum motor performance owing to the high-power density output. Hence, the rising demand for electric vehicles in the global market is further leading to the adoption of insulated-gate bipolar transistors during the forecast period. Furthermore, the global warming effect and the ever-changing climatic changes are raising awareness regarding the use of energy resources in each field. Thus, the demand from the automotive industry in the manufacturing of electric vehicles to save energy resources is leading to the high adoption of insulated-gate bipolar transistors in the industry sector. The rising fuel prices have further boosted the demand and adoption of electric vehicles in the global market which in turn is fueling the market growth of the global IGBT market.
The growing concerns to boost the renewable energy foundations will be led to its growth
One of the prime reasons for the growth of the global IGBT industry is the growing concerns to boost the renewable energy foundations which in turn will fuel the market growth of insulated-gate bipolar transistors in the global market. The growing investments by the government of several nations in renewable energy are further leading to the growth of the global IGBT market. Also, the drop in the costs of renewable energy sources such as wind energy, solar energy in recent years is leading to its growing adoption across various industry verticals.
Market Segmentation
By industry vertical, the global IGBT market is segmented into energy and power, consumer electronics, automotive, travel and transportation, and others. The automotive segment is anticipated to grow at a substantial rate owing to the introduction of electric vehicles as it finds its major application in the smooth operation of electric vehicles in carrying power to the grid at a stable rate. Insulated gate bipolar transistor and FWD chips with an isolation layer, multiple devices, and protection parts are packed into the module to offer increased power, reliability, and prolonged lifetime. By type, the global IGBT market is segmented into discrete IGBT and modular IGBT.
By power rating, the global IGBT market is segmented into high-power, medium-power, and low-power among which the high-power segment is anticipated to grow at a faster pace owing to the large industrial application of high-powered insulated gate bipolar transistor which offers gate control using voltage and high current carrying ability in leading industries such as aircraft, automobile, and UAVs.
Geographically, North America and the Asia Pacific region are expected to show prominent growth during the forecast period owing to the presence of major semiconductor and electronics manufacturers in developing nations including Japan, India, China, and South Korea. The rising applications of insulated gate bipolar transistors in electric vehicles have led to its increasing demand in the region. Also, the technological advancements in the insulated gate bipolar transistors and the rising demand for energy-saving resources in the region are leading to its widespread adoption during the forecast period. The rising implementation and growing awareness of renewable resources among industries and the growing opportunities in the North American region in the insulated gate bipolar transistors market are leading to the rising adoption of insulated gate bipolar transistors in the region during the forecast period.
Restraints
The design complexities will hamper the growth of the global IGBT market. A major restraint in the growth of the global IGBT market is the design complexities. Latch-up linked with gate control of an insulated gate bipolar transistor can cause easy breakage which may fail the device. A minute decrease in the latching current density accounts for the increase in the increase in the turnoff time and an increase in the ambient temperature. The gate has no longer control over the drain current as the transistor enters the latch-up state. The excessive power dissipation is likely to destroy the bipolar transistor if the latch-up is not terminated quickly. These complexities in the design are expected to hamper the growth of the global IGBT market during the forecast period.
Competitive Insights
The market leaders in the global IGBT market are Danfoss, Hitachi ABB, Infineon Technologies AG, Fuji Electric Co., Ltd., ROHM Semiconductor, Toshiba Electronic Devices, and Storage Corporation, SEMIKRON, Renesas Electronics Corporation, Mitsubishi Electric Corporation, SEMIKRON International GmbH
Segmentation:
By Type
- Discrete IGBT
- Modular IGBT
By Power Rating
- High- Power
- Medium- Power
- Low- Power
By Industry Vertical
- Energy and Power
- Consumer Electronics
- Automotive
- Travel and Transportation
- Others
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- South Korea
- Indonesia
- Taiwan
- Thailand
- Others
Table of Contents
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Global IGBT Market, By Type
6. Global IGBT Market, By Power Rating
7. Global IGBT Market, By Industry Vertical
8. Global IGBT Market, By Geography
9. Competitive Environment and Analysis
10. Company Profiles
Companies Mentioned
- Danfoss
- Hitachi ABB
- Infineon Technologies AG
- Fuji Electric Co., Ltd.
- ROHM Semiconductor
- Toshiba Electronic Devices and Storage Corporation
- SEMIKRON
- Renesas Electronics Corporation
- Mitsubishi Electric Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 126 |
| Published | December 2021 |
| Forecast Period | 2019 - 2026 |
| Estimated Market Value ( USD | $ 4.75 Billion |
| Forecasted Market Value ( USD | $ 8.7 Billion |
| Compound Annual Growth Rate | 9.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
