Latest News- IGBT Market: IGBT modules is expected to lead the Product segment during 2024-2028

The IGBT Market is being driven by Increasing government support for EV or HEVs

The IGBT Market is expected to grow at a CAGR of 15.31% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 10796.1 million. The digitalization trend in industries is driving the integration of semiconductor components, such as sensors, ICs, and microcontrollers, with IGBT devices. This consolidation enables more efficient and effective control of power inverters, drive controls, and other electrical equipment. The resulting data insights gained from this integration can lead to performance improvements and advancements in semiconductor technology, including IGBTs. By merging these devices, industries can optimize applications and semiconductor technology, ultimately enhancing operational efficiency and productivity. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • IGBT modules
  • Discrete IGBTs
• Application
  • EV or HEVs
  • Industrial
  • Motor drives
  • Consumer appliance
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing government support for EV or HEVs
• High demand for energy-efficient electronic products
• Growth in HVDC lines

However, the market also witnesses some limitations, which are as follows:

• Rising competition from Wide bandgap (WBG) semiconductor materials
• Increased power dissipation due to reduced size of IGBT modules
• Selecting suitable IGBTs for electric circuits

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Market Scope in IGBT Market Research Report

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Research Analysis Overview

In the realm of power electronics, IGBTs (Insulated Gate Bipolar Transistors) distinguish themselves from thyristors and MOSFETs through their unique characteristics. IGBTs excel in high-power applications, powering electronic converters for various sectors. They are integral to electric vehicle drives, renewable energy systems, industrial motor drives, and high-voltage applications. Medium- and low-voltage uses, power factor correction, uninterruptible power supplies, welding inverters, induction heating, magnetic levitation, and high-frequency applications also benefit from IGBTs. Hard and soft switching, zero voltage and zero current switching, loss minimization, reliability enhancement, thermal management, device packaging, and gate driver design are crucial considerations for IGBT market growth.

Market Research Overview

The global semiconductor market, encompassing semiconductor manufacturers producing ICs such as memory, logic, analog, and micro components, optoelectronics, sensors, and discrete semiconductors, is experiencing significant growth. According to Technavio, market size is determined by the revenue generated from IC unit shipments to OEMs and ODMs, sourced from both fab and fabless companies, including IDMs. Market expansion is influenced by escalating investments in constructing new and expanding existing fabs, which positively impacts the production of advanced semiconductor technologies. Key factors driving this trend include the increasing demand for high-frequency switching devices, such as IGBTs, with a focus on minimizing gate drive losses, conduction losses, and enhancing switching speed and collector-emitter voltage efficiency.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/