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Global IGCT Market to Witness a Pronounce Growth During 2024– Top Key players ABB, Infineon Technologies, Mitsubishi Electric, General Electric, AmePower, Inc.,

02-26-2019 05:04 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

/ PR Agency: Allied Analytics
IGCT Market

IGCT Market

An IGCT is a gate-controlled turn-off switch which conducts like a thyristor with lowest conduction losses. It was originally jointly developed by ABB and Mitsubishi. Major application of IGCT is in industrial drives in sectors, which require multi-megawatt electric motors that power the large industrial loads in mines, power stations, and metal processing plants. Other industries include oil & gas, water & wastewater, power generation & rubber, and tire industries.

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.

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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