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Insulated Gate Bipolar Transistor Market (IGBT) Market 2021 Reach Valued At $ 11.24 billion And Grow At A 9.8% CAGR Forecast To 2028 |
Insulated Gate Bipolar Transistor Market (IGBT) Market 2021-2028
New study report " Insulated Gate Bipolar Transistor Market (IGBT) Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028" has been added to Fortune Business Insights.
Market Overview:
The global insulated gate bipolar transistor market size is expected to reach USD 11.24 billion by 2028, exhibiting a CAGR of 9.8% during the forecast period. The increasing demand for IGBT from high voltage applications such as motor drive inverters, solar inverters, uninterruptible power supplies (UPS), and others will boost the market growth. As per a report by Fortune Business Insights™ titled, “Insulated Gate Bipolar Transistor (IGBT) Market, 2021-2028.” the market size stood at USD 5.40 billion in 2020.
Top Key Players in this market are:
Infineon Technologies AG (Munich, Germany)
Danfoss Group (Nordborg, Denmark)
ROHM CO., LTD (Kyoto, Japan)
Hitachi, Ltd. (Tokyo, Japan)
ABB Ltd (Zürich, Switzerland)
Mitsubishi Electric Corporation (Tokyo, Japan)
Fuji Electric Co., Ltd. (Tokyo, Japan)
Toshiba Corporation (Tokyo, Japan)
LITTELFUSE, INC. (Illinois, United States)
StarPower Semiconductor Ltd. (Jiaxing, China)
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COVID-19 Impact-
The coronavirus epidemic had a major effect on the semiconductor industry. The global supply chain instability caused by the closing of international borders adversely affected the semiconductor chip demand. According to a survey the semiconductor industry's annual sales growth was expected to be 12.5 percent in 2020, but due to pandemic crises, it was only 9%. However, insulated gate bipolar transistor industry growth will likely be driven by an uptick in demand for cloud and data center services as a result of the rise in remote working during the COVID-19 Pandemic.
Competitive Landscape-
Company Collaborations and Research and Development Activities to Bode Well for Market
Currently, a handful of companies are collectively contributing to the IGBT market share. These companies include Fuji Electric Co. Ltd., Hitachi, ABB Ltd., Infineon Technologies AG, and Mitsubishi Electric Corporation. Furthermore, intense research and development, company collaborations, and research and development strategies adopted by players are further predicted to help attract high IGBT device market revenue in the forthcoming years. For instance, in July 2020, ABB Ltd and Hitachi signed a partnership contract worth USD 11 billion, as “Hitachi ABB Power Grids Ltd.” The joint venture will focus on electric mobility, industry and Information Technology (IT), and smart life.
Segmentation-
Based on the voltage, the market has been divided into low voltage, medium voltage, and high voltage. Based on the application, the market is classified into consumer electronics, industrial manufacturing, automotive (EV/HEV), inverters/UPS, railways, renewables, and others. Geographically, the market is classified into five major regions: North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Regional Insights-
Rapid Adoption of Insulated Gate Bipolar Transistor Market (IGBT) to Aid Development in Asia Pacific
North America is expected to hold a significant insulated gate bipolar transistor market share. The increasing awareness about renewable resources and their implementation in various industries will aid expansion in the region. On the other hand, the Asia Pacific market is anticipated to emerge as the fastest-growing region on account of China's rapid pace of electric vehicle adoption. This region held a revenue of USD 2.37 billion in 2020. Additionally, government initiatives are also helping in the promotion of electric vehicles. This is further anticipated to help increase the regional market size in the coming years.
What Does the Report Offer?
The market report presents a detailed analysis of the market, primarily focusing on growth trajectories such as drivers, restraints, challenges, and opportunities. It lists the segments of the market in detail and the names of market players as well. The key industrial insights and major strategies adopted by players such as merger and acquisition, company collaborations, and others are also presented in the market, along with other insulated gate bipolar transistor market trends.
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Table Of Content:
Introduction
Key Takeaways
Market Dynamics
Competition Landscape
Global Insulated Gate Bipolar Transistor Market (IGBT) Key Players Market Share Insights and Analysis, 2020
Key Market Insights and Strategic Recommendations
Companies Profiled (Covered for key 10 players only)
Annexure / Appendix
Continue….
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