Insulated Gate Bipolar Transistor (IGBT) Global Market Report 2024

The insulated gate bipolar transistor (IGBT) is a semiconductor switching device with three terminals, widely applied in various electronic devices for efficient and rapid switching. Typically utilized in amplifiers, it handles the switching and processing of intricate wave patterns through pulse width modulation (PWM).

The main types of insulated gate bipolar transistors (IGBTs) are discrete and modular. Discrete IGBTs find application in power factor correction circuits, dc/ac converter circuits, as well as in UPS, power conditioners, air conditioners, and welding equipment. IGBTs come in three power rating categories: high power, medium power, and low power, playing essential roles in EV/HEV, renewables, UPS, rail, motor drives, and industrial and commercial applications.

The insulated gate bipolar transistor (IGBT) market research report is one of a series of new reports that provides insulated gate bipolar transistor (IGBT) market statistics, including insulated gate bipolar transistor (IGBT) industry, global insulated gate bipolar transistor (IGBT) market size, regional shares, competitors with an insulated gate bipolar transistor (IGBT) market share, detailed insulated gate bipolar transistor (IGBT) market segments, market trends and opportunities, and any further data you may need to thrive in the insulated gate bipolar transistor (IGBT) industry. This insulated gate bipolar transistor (IGBT) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The insulated gate bipolar transistor (igbt) market size has grown rapidly in recent years. It will grow from $8.32 billion in 2023 to $9.48 billion in 2024 at a compound annual growth rate (CAGR) of 14.0%. The surge in the historical period's growth can be credited to a heightened demand for power electronics, a growing emphasis on energy efficiency, a rise in industrial automation, an increased need for electronic components, and an upswing in demand within the consumer electronics sector.

The insulated gate bipolar transistor (igbt) market size is expected to see rapid growth in the next few years. It will grow to $15.77 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The expansion anticipated in the forecast period can be linked to the increasing prevalence of electric mobility, the rise in demand for energy storage systems, the growing needs of the aerospace and defense sectors, the escalating trend of electrification, and the ongoing expansion of renewable energy. Key trends expected in the forecast period encompass the adoption of wide bandgap semiconductors, the miniaturization trend, integration with SiC diodes, the implementation of smart IGBTs, and the utilization of digital control.

The growing production of electric vehicles (EVs) is anticipated to drive the expansion of the insulated gate bipolar transistor (IGBT) market. IGBTs, a type of semiconductor device serving as an electronic switch, play a crucial role in converting DC power from car batteries into the high power required for motor operation through an inverter. Their efficiency in EV motors is attributed to fast switching characteristics, leading to reduced power consumption and increased mileage. The surge in EV production is expected to create a substantial demand for IGBTs, with projections from the International Energy Agency (IEA) estimating 125 million electric vehicles on the roads by 2030. Notably, global electric car sales saw a 140% increase in the first half of the year, and the IEA anticipates a rise from 10 million to 14 million electric vehicle sales in 2023.

The growing consumer electronics market is set to propel the IGBT market forward. Consumer electronics, designed for everyday use, utilize IGBTs in circuitry for power control, switching, and voltage regulation. For instance, LG, a South Korea-based consumer electronics company, reported its highest annual revenue in 2022, with a 12.9% increase from the previous year. The revenue for the LG Home Appliance & Air Solution Company reached $22.5 billion, marking a 10.3% increase from 2021. This surge in consumer electronics demand contributes to the growth of the insulated gate bipolar transistor (IGBT) market.

Leading companies in the IGBT sector are keen on innovation to offer reliable products. Toshiba Electronic Devices & Storage Corporation, a Japan-based company, introduced the GT30J65MRB in March 2023, a 650 volts (V)-rated discrete IGBT used in power factor correction (PFC) air conditioners, home appliances, and industrial equipment power supplies. The GT30J65MRB demonstrates a notable improvement of at least 40% in switching losses compared to previous-generation devices.

Major companies such as Nexperia, a Netherlands-based semiconductor manufacturer, are focusing on product innovation, as evident in the launch of the NGW30T60 IGBT in July 2023. This 600 volts (V) IGBT device is designed for high-power conversion applications, including power inverters, uninterruptible power supply (UPS), photovoltaic (PV) strings, and electric vehicle (EV) charging, operating at frequencies up to 50 kHz.

In October 2023, Hyundai Motor Company and Kia Corporation, both South Korea-based automotive manufacturers, strategically partnered with Infineon Technologies AG, a Germany-based semiconductor manufacturer. This partnership aims to enhance the supply of power semiconductors, including diodes, insulated-gate bipolar transistors (IGBTs), and silicon carbide (SiC) power modules, for Hyundai and Kia electric vehicles (EVs). Infineon Technologies AG is recognized for providing high-quality insulated gate bipolar transistors (IGBTs).

Major companies operating in the insulated gate bipolar transistor (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., Fujitsu Ltd., International Rectifier Ltd., 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., WeEn Semiconductors Co. Ltd., Wolfspeed Inc., Xilinx Inc., Yangzhou Yangjie Electronic Technology Co. Ltd.

Asia-Pacific was the largest region in the insulated gate bipolar transistor (IGBT) market in 2023. The regions covered in the insulated gate bipolar transistor (IGBT) market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the insulated gate bipolar transistor (IGBT) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The insulated gate bipolar transistor (IGBT) market consists of sales of punch through IGBT and non-punch through IGBT. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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