“Global Insulated-Gate Bipolar Transistors (IGBTs) Market to reach a market value of USD 14.2 Billion by 2030 growing at a CAGR of 6.3%”
The Global Insulated-Gate Bipolar Transistors (IGBTs) Market size is expected to reach $14.2 billion by 2030, rising at a market growth of 6.3% CAGR during the forecast period. In the year 2022, the market attained a volume of 91,869.5 thousand units, experiencing a growth of 22.9% (2019-2022).
Many consumer electronics appliances, such as air conditioners, refrigerators, and washing machines, adopt inverter technology. Thus, the consumer electronics segment acquired $1,271.7 million revenue in 2022. IGBTs play a crucial role in inverter circuits, enabling variable speed operation and improving overall efficiency in these appliances.
IGBTs are fundamental in power converters and inverters, converting electrical energy from one form to another. In applications such as motor drives, renewable energy systems, and industrial equipment, power electronics utilizing IGBTs facilitate efficient energy conversion. These applications are crucial for various sectors, including telecommunications, data centers, and critical infrastructure, where reliable power is essential.
Additionally, the increased adoption of variable frequency drives (VFDs) is a significant driver for the market. VFDs, also known as adjustable frequency drives or inverters, utilize IGBTs for motor control and speed regulation in various applications. Hence, increased adoption of variable frequency drives is driving the growth of the market.
However, the production of high-quality IGBTs involves sophisticated manufacturing processes and the use of advanced materials. These processes and materials can contribute to elevated manufacturing costs, impacting the overall cost structure of IGBTs. Therefore, the high initial cost is impeding the growth of the market.
Based on power rating, the market is categorized into high power, medium power, and low power. The medium power segment witnessed a remarkable 31.2% revenue share in the market in 2022. This makes them versatile for a range of applications.
On the basis of type, the market is segmented into discrete IGBT and IGBT module. In 2022, the discrete IGBT segment attained a noteworthy 31.3% revenue share in the market. Designers can select and integrate additional components based on specific application requirements.
Based on application, the market is divided into energy & power, consumer electronics, inverter & UPS, electric vehicle, industrial system, and others. In 2022, the industrial system segment held a considerable 25% revenue share in the market. They facilitate the efficient charging and discharging of energy and enabling the storage of excess energy during low-demand periods.
Free Valuable Insights: Global Insulated-Gate Bipolar Transistors (IGBTs) Market size to reach USD 14.2 Billion by 2030
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region generated 45.2% revenue share in the market. IGBTs are essential components in inverters that convert renewable energy sources into usable electrical power for the grid.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 8.8 Billion |
| Market size forecast in 2030 | USD 14.2 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 6.3% from 2023 to 2030 |
| Number of Pages | 384 |
| Number of Table | 730 |
| Quantitative Data | Volume in Thousand Units, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Power Rating, Application, Region |
| Country scope |
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| Companies Included | Infineon Technologies AG, Toshiba Corporation, STMicroelectronics N.V., NXP Semiconductors N.V., ABB Group, Fuji Electric Co. Ltd., Mitsubishi Electric Corporation, Renesas Electronics Corporation, Rohm Co., Ltd., Vishay Intertechnology, Inc. |
By Power Rating (Volume, Thousand Units, USD Billion, 2019-2030)
By Type (Volume, Thousand Units, USD Billion, 2019-2030)
By Application (Volume, Thousand Units, USD Billion, 2019-2030)
By Geography (Volume, Thousand Units, USD Billion, 2019-2030)
This Market size is expected to reach $14.2 billion by 2030.
Growing demand for energy efficient power electronics are driving the Market in coming years, however, High initial costs of insulated-gate bipolar transistors (IBGTs) restraints the growth of the Market.
Infineon Technologies AG, Toshiba Corporation, STMicroelectronics N.V., NXP Semiconductors N.V., ABB Group, Fuji Electric Co. Ltd., Mitsubishi Electric Corporation, Renesas Electronics Corporation, Rohm Co., Ltd., Vishay Intertechnology, Inc.
In the year 2022, the market attained a volume of 91,869.5 thousand units, experiencing a growth of 22.9% (2019-2022).
The IGBT Module segment is leading the Market, By Type in 2022; there by, achieving a market value of $9.2 billion by 2030.
The Asia Pacific region dominated the Market, By Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $6.5 billion by 2030.
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