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Integrated Gate Commutated Thyristor (IGCT) Market: Global Trends, Market Share, Industry Size, Growth, Opportunities and Forecast to 2024

07-09-2019 08:45 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Integrated Gate Commutated Thyristor (IGCT) Market

Integrated Gate Commutated Thyristor (IGCT) Market

Increased usage of power electronics in renewable energy sources, lower conduction loss as compared to GTO and IGBT, and better performance at high temperature drive the growth of the global IGCT market. However, bulky structure of thyristor and complex manufacturing process hamper the market growth. On the other hand, increasing use of power semiconductor devices in hybrid vehicles and invention of high-power technology (HPT) platform are expected to create lucrative opportunities for the market players in the coming years.

Reverse Blocking IGCTS Segment to Grow the Fastest through 2024:
The reverse blocking IGCTs segment is expected to register the fastest CAGR of 8.5% during the study period, owing to benefits of reverse blocking IGCTs in CSI over GTO or thyristor solutions such as high inverter ratings and switching frequency. However, the asymmetric IGCTs segment held the largest market share in 2017, contributing about two-thirds of the total revenue. This is owing to the growing need for higher frequency operation in motor drives and energy management systems along with burgeoning demand for high average current in circuit breakers. In addition, the reverse conducting IGCTs segment is expected to witness gradual growth during the study period.

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Converters Segment to Witness the Fastest CAGR By 2024:
The converters segment is estimated to manifest the fastest 9% CAGR from 2018 to 2024 due to their ability to offer a power rating of up to 15 MVA without the need of series or parallel connection of power semiconductor devices alongside ensuring that the part count is minimum. However, the drives segment held the largest share in 2017, contributing about 35% of the total revenue. It is expected to dominate the market throughout the study period, owing to the fact that drives produce greater power output than smaller, numerous low-voltage (LV) drives and ensure better control of large, multi-megawatt electric motors that are used in mines, power stations, and metal processing plants. The traction segment would grow at a steady rate during the forecast period.

LAMEA Region to Portray Fastest Growth through 2024:
Latin America, Middle East and Africa (LAMEA) region is expected to manifest the fastest CAGR of 9.6% during the study period, as the region has witnessed huge opportunities in wind and solar power generation coupled with increase in population in the Middle East, which in turn has fueled the need for electricity due to rapid urbanization and high disposable income. However, Asia-Pacific region held the highest share in 2017, reaping about one-third of the total revenue, owing to rise in power demand in developing countries such as India and China. The other regions analyzed in the report include North America and Europe.

Torchbearers in the Market:
The key market players analyzed in the report, include ABB, Mitsubishi Electric Corporation, CSR Zhuzhou Institute Co, Ltd. (CRRC), Xiamen Hidins Technology Co. Ltd., AmePower, Inc., Infineon Technologies, Tianjin Century Electronics, General Electric, Jiangyin City Saiying Electron Co. Ltd., and Shenzhen CTW Semiconductor Co., Ltd.

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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.

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