Global IGCT Market to Witness a Pronounce Growth During 2024– Top Key players ABB, Infineon Technologies, Mitsubishi Electric, General Electric, AmePower, Inc.,
According to a recent report published by Allied Market Research, titled, Global IGCT Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2018-2024, The global IGCT market was valued at $10.98 million in 2017, and is projected to reach $17.77 million by 2024, registering a CAGR of 6.9% from 2018 to 2024.
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In 2017, the asymmetric IGCTs segment dominated the global IGCT market based on type, in terms of revenue. Furthermore, based on application, the drive segment contributed to major revenue share of the global IGCT market, followed by traction in 2017. Due to lower conduction loss, transition between on & off state enables short pulse, which adds fast switching frequency needed for reliable operation. IGCTs having inbuilt turn-on protective network, which limit the rate of current rise compared to GTO & IGBT, which makes them more powerful, efficient, and attractive as well.
Low conduction loss as compared to GTO and IGBT, increased usage of power electronics in renewable energy sources, better performance at high temperature, and low price are the factors that drive the market. In addition, use of power semiconductor devices in hybrid vehicles and invention of high-power technology (HPT) platform boost the growth of the IGCT market. However, bulky structure of thyristor and complex manufacturing process restricts the growth of the market.
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Key Findings of the IGCT Market:
The type segment generated the highest revenue in the global IGCT market in 2017.
In 2017, the asymmetric IGCT segment contributed to the highest revenue in the type segment.
LAMEA is anticipated to exhibit the highest CAGR during the forecast period.
In 2017, Asia Pacific contributed the highest market share, followed by, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report are ABB, Infineon Technologies, Mitsubishi Electric, Tianjin Century Electronics, CSR Zhuzhou Institute Co, Ltd. (CRRC), General Electric, Xiamen Hidins Technology Co. Ltd., Jiangyin City Saiying Electron Co. Ltd., AmePower, Inc., and Shenzhen CTW Semiconductor Co., Ltd.
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