Global Insulated Gate Bipolar Transistor [IGBT] Market Insights Forecasts to 2030

• The Insulated Gate Bipolar Transistor [IGBT] Market size was valued at USD 5 billion in 2021
• The market is growing at a CAGR of 9% from 2022 to 2030
• The Global Insulated Gate Bipolar Transistor [IGBT]  Market is expected to reach USD 10 billion by 2030
• Europe is expected to grow the fastest during the forecast period

The Global Insulated Gate Bipolar Transistor [IGBT] Market is expected to reach USD 10 billion by 2030, at a CAGR of 9% during the forecast period 2022 to 2030. Company operations in the manufacturing and industrial trade were hampered as a result of the COVID-19 pandemic outbreak's strict lockdown measures. The global coronavirus outbreak has significantly slowed the growth of the insulated gate bipolar transistor [IGBT] market. Businesses are being forced to use their innovation and creativity to increase sales and revenue as a result of global concerns and restrictions.

Market Overview

Insulated Gate Bipolar Transistor [IGBT] is fundamentally a voltage-controlled power electronics device, replacing the conventional power BJTs and MOSFETs, as a switching device. Insulated Gate Bipolar Transistors [IGBT] are suitable for high-voltage, high-current applications, they are designed to drive high-power applications with a low-power input.  IGBT is used to provide fast switching with high efficiency, with a constant power supply and it is done by decreasing the excessive power supply. It lowers the heat tension on the electric devices or appliances by introducing lower switch loss which results in increases in the lifespan of the device. The IGBT is the second most widely used power transistor, after the power MOSFET, which accounts for 30% of the power transistor market. The IGBT is widely used in consumer electronics, industrial technology, automotive (EV/HEV), inverters/UPS, the energy sector, aerospace electronic devices, and transportation.

Report Coverage

This research report categorizes the market for global insulated gate bipolar transistor [IGBT] market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the insulated gate bipolar transistor [IGBT] market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the insulated gate bipolar transistor [IGBT] market.

Driving Factors

The increasing popularity and demand & sale for electric vehicles are growing rapidly due to the growing realization about ecological, non-toxic emissions directions and declining of fossil fuel are the key elements driving the demand for the global insulated gate bipolar transistor [IGBT] market. In addition, the elevating fuel prices are also persuading the end-users to substitute conventional vehicles with electric vehicles. Insulated gate bipolar transistor [IGBT] has been widely adopted in the energy & power, automotive, consumer electronics, and industries as a result of growing demand for electric vehicles and an increased need for high voltage operational devices. Government initiatives that are diligent in establishing High Voltage Direct Current (HVDC) and smart grids that use IGBTs for power communication would offer attractive market potential. Furthermore, irrespective of high-speed switching rates and reduced power loss, the global insulated gate bipolar transistor [IGBT] market is likely to exhibit moderate development shortly.

Restraining Factors

IGBT issues include failure mechanisms, worn-out, overstress, long turn-off times, and delay, these are some of the shortcomings of IGBTs that are restricting the growth of the global Insulated-Gate Bipolar Transistor (IGBTs) Market. Insulated Gate Bipolar Transistors are extremely expensive to manufacture, which has a direct impact on their market value, rendering them unsustainable for many businesses in developing countries.

Market Segmentation

• In 2021, the discrete IGBT segment is witnessing a higher growth rate over the forecast period.

Based on type, the global insulated gate bipolar transistor [IGBT] market is segmented into discrete IGBT and IGBT modules. Among these, the discrete IGBT segment is expected to witness a higher growth rate over the forecast period. The growing demand for consumer electronics applications such as UPS, power conditioners, air conditioners, and so on, which use discrete IGBT type for lower-current applications, is credited with driving the discrete IGBT market expansion.

• In 2021, the high power rating segment is witnessing significant CAGR growth over the forecast period.

On the basis of power rating, the global insulated gate bipolar transistor [IGBT] market is segmented into the high power, medium power, and low power. Among these, the high-power segment is anticipated to witness significant CAGR growth over the forecast period. The high-power rating market is expanding due to the increasing demand for electric vehicles, aircraft, UAVs, trains, variable-speed freezers, arc-welding equipment, and air conditioners.

• In 2021, the automotive (EV/HEV) segment is anticipated to generate the highest revenue over the forecast period.

Based on type, the global insulated gate bipolar transistor [IGBT] market is segmented into consumer electronics, energy & power, industrial manufacturing, automotive (EV/HEV), inverters/UPS, railways, renewables, and others. Among these, the automotive (EV/HEV) segment is expected to witness a higher growth rate over the forecast period. Rising awareness about vehicular emissions and the overconsumption of non-renewable energy resources have compelled government organizations to invest in the necessary infrastructure for electric vehicles such as the Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), and Plug-In Hybrid Electric Vehicle (PHEV), as well as Electric Vehicle Supply Equipment (EVSE). Insulated gate bipolar transistors [IGBT] are used in electric vehicles to control vehicles at high voltages and maximize efficiency.

Regional Segment Analysis of the Insulated Gate Bipolar Transistor [IGBT] Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 Asia Pacific is dominating the market with the largest market share of 53%.

Asia Pacific is dominating the market with the largest market share of 53%. The region’s growth is majorly attributed to the developing economic growth of countries such as China, India, Japan, and South Korea. China is credited with the growth of the insulated gate bipolar transistor [IGBT] market in this region because it is one of the top markets for electric vehicles and the world's largest producer of IGBT and electric vehicles. Japan and India are also experiencing an increase in demand for energy-saving resources as technology advances.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global insulated gate bipolar transistor [IGBT] market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.