Insulated-gate Bipolar Transistor (IGBT) is a power transistor with an input MOS and an output bipolar transistor. IGBT power modules (inverters) are required to convert energy from one form to another so that it may be used conveniently and safely. The semiconductor device has applications across myriad product categories in different industries including air conditioners, refrigerators, medical equipment, industrial motors, and electric cars, amongst others. AMI anticipates the market will grow at 9.1% owing to increased demand for electric vehicles and high voltage operating devices in energy and power, automotive, and consumer electronics amongst other industries.
In terms of revenue, global insulated gate bipolar transistor (IGBT) market was valued at US$ 5280.24 Mn in 2020 growing at a CAGR of 9.1% over the forecast period (2021 – 2029).
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Modular IGBT Segment held the Largest Market Share in 2020
According to Absolute Markets Insights report, modular IGBT segment held the largest share in the insulated gate bipolar transistor (IGBT) market in 2020. The key element impacting market growth is the reliability of IGBT modules in comparison to other systems. The IGBT power module acts as a switch, allowing it to switch electrical power on and off quickly and efficiently. Because of its potential to improve switching, temperature, weight, and cost performance, the IGBT power module is quickly becoming the preferred device for high power applications.
Furthermore, some of the global insulated gate bipolar transistor (IGBT) market participants have announced new products, which is intensively contributing towards the market growth. For example, Mitsubishi Electric Corporation announced the release of their T-series 2.0kV Insulated Gate Bipolar Transistor (IGBT) Module for Industrial Use in June 2021. It is suitable for increasing the efficiency and decreasing the size of renewable-energy power converters.
High Voltage Segment accounted for the Largest Market Share in 2020 and is expected to be the Fastest Growing Segment over the Forecast Period
According to AMI, high voltage segment accounted for the largest market share and is expected to be the fastest growing segment over the period of next eight years. The growing demand from high voltage applications in various sectors is likely to propel the IGBT market ahead. Furthermore, certain businesses provide high voltage IGBT devices, such as Infineon Technologies AG, which creates 4500 V and 6500 V IGBT power modules. These devices are utilised in motor control and drives, uninterruptible power supplies (UPS), transmission and distribution (T&D), commercial, construction, and agricultural vehicles (CAV), and traction applications. Furthermore, proactive government initiatives to construct high voltage direct current (HVDC) and smart grids that use IGBTs for power conversion, is estimated to present attractive potential for the growth of global insulated gate bipolar transistor (IGBT) market over the forecast period.
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Automotive (Electric Vehicle / HEV) is Expected to be the Fastest Growing Segment over the Forecast Period
According to AMI, automotive (Electric Vehicle / HEV) is expected to be the fastest growing segment over the forecast period in the global insulated gate bipolar transistor (IGBT) market. Due to favourable government policies for the development of electric vehicle and increasing adoption of electric vehicle globally is expected to further contribute to the growth of the insulated gate bipolar transistor (IGBT) market. According to the International Energy Agency (IEA), approximately 1.8 million EVs were registered in the United States by 2020, which was more than three times the number in 2016.
Furthermore, some of the major players in the insulated gate bipolar transistor (IGBT) market are establishing agreements with other market participants to expand the industrial application of IGBTs. For instance, ABB Control Technologies and Actemium announced a global cooperation agreement in July 2018. The collaboration is intended to result in combined solutions that provide customers with top automation solutions. This strategic move has led to the expansion of the application of IGBTs in industrial applications.
Indirect distribution channel is expected to be the Fastest Growing Segment over the Forecast Period
According to AMI, indirect distribution channel in the insulated gate bipolar transistor (IGBT) market is expected to witness highest growth rate over the period of next eight years. Indirect distribution entails selling wholesale to agents or retailers who will distribute the product on behalf of the corporation. The indirect distribution channel is utilised to avoid the complexities of handling distribution logistics and to benefit from the experience, infrastructure, and salesforce of a third party.
North America Accounted as the Largest Market in 2020
AMI reports that North America held a significant share in the insulated gate bipolar transistor (IGBT) market in 2020. With increased awareness and implementation of renewable resources, the region's market is expected to further witness opportunities for potential growth. The presence of key economies in the North America region such as the United States, Canada, and Mexico has contributed towards the biggest market share in the global market.
Some of the players operating in the global insulated gate bipolar transistor (IGBT) market are Analog Devices, Inc., Darrah Electric Company, Diodes Incorporated, Fuji Electric Co., Ltd., Hitachi Energy Ltd., Infineon Technologies AG, IXYS Corporation, Mitsubishi Electric Corporation, Powerex, ROHM CO., LTD., SEMIKRON, Texas Instruments Incorporated, TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, and WeEn Semiconductors amongst other market participants.
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Global Insulated-Gate Bipolar Transistor (IGBT) Market:
- By Type
- Discrete IGBT
- Modular IGBT
- By Voltage
- Low Voltage
- Medium Voltage
- High Voltage
- By End Use
- Home Appliances
- Air Conditioners
- Washing Machine
- Cooking Equipment
- Refrigerators
- Others
- Medical Equipment
- Automotive (Electric Vehicle / HEV)
- Renewable Power
- Industrial Motors
- Unregulated Power Supply (UPS)
- Switch Mode Power Supplies (SMPS)
- Inverters
- Railways
- Others
- Home Appliances
- By Distribution Channel
- Direct
- Indirect
- By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- North America
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