IGBT and Thyristor Market is expected to reach US$ 6.96 Bn by 2027

According to the new research report published by The Insight Partners, titled "The IGBT and Thyristor Market", published by The Insight Partners, the market was valued at US$ 5.15 billion in 2019 and is projected to reach US$ 6.96 billion by 2027; it is expected to grow at a CAGR of 4.1% from 2020 to 2027.

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Companies Mentioned are: ABB Ltd, Infineon Technologies AG, Mitsubishi Electric Corporation, Renesas Electronics Corporation, ROHM CO., LTD., Semiconductor Components Industries, LLC (On Semiconductor), STMicroelectronics N.V., SEMIKRON, Vishay Intertechnology, Inc, Fuji Electric Co., Ltd.

The IGBT and Thyristor market is experiencing remarkable growth attributed to the replacement of aging power infrastructure, particularly in developed economies, as well as the deployment of smart grids. IGBTs and Thyristors are integrated into power electronics such as controllers, inverters, and power supplies to fulfill the demand for solid-state switching devices. Moreover, the demand for electricity is constantly increasing owing to the rising population in developing economies. IGBT and Thyristor use low switching losses as well as short switching times of metal-oxide-semiconductor field-effect transistor (MOSFET) to meet the current electricity demands. Further, they use conduction losses along with high breakdown voltage in bipolar junction transistor (BJT) to achieve high electricity demands. Additionally, IGBT and Thyristor support low switching losses and thermal stress leading to longer lifespan and reliability of electric devices. IGBT and Thyristor are gaining acceptance due to several advantages, such as high external thermal performance along with efficiency.

The medium power rating segment dominated the global IGBT market share in 2019 and is projected to continue its dominance during the forecast period. The growth of the medium power rating segment is due to the capability to fulfill the growing requirements for HDVC systems, FACTS, and EVs and hybrid EVs. Growing environmental concerns and government initiatives for reducing carbon emissions have propelled the demand for EVs/HEVs, thereby resulting in the rising demand for medium-power IGBTs.

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Market Insights
Growing implementation of smart grid technology drives IGBT and Thyristor market
Power electronic devices such as insulated gate bipolar junction transistor (IGBT), metal-oxide silicon field-effect transistor (MOSFET), integrated gate commutated Thyristor (IGCT), gate turn off Thyristor (GTO), and triode as an AC switch (TRIAC) have a high current carrying and voltage handling capacity. They have higher switching frequencies, which are useful for frequency control and voltage magnitude conversion. These devices are primarily used in converters and are able to control the power flow. The smart grid has become the biggest technological revolution in the past years. The smart grid is an automated, highly integrated, technology-driven, and modernized grid than the conventional grid. The smart grid is expected to play a major role in transforming the electrical networks, along with power system operation in the near future.

The key players in the market are focusing on the expansion of their product portfolio to compete in the market efficiently. Further, the players focus on maintaining long-term partnerships with their existing clients. A few recent acquisitions are listed below;
2020:Solar Support announced its strategic agreement with Semikrona. As an authorized representative of SEMIKRON in the US, Solar Support meets the industry's demand for IGBT (insulated-gate bipolar transistor) stack components, a critical semiconductor device used in aging PV inverters.
2019:Fuji Electric Co., Ltd extended the lineup of its 7th-generation X Series of IGBT*1 modules, targeting the large-scale wind power generation market, and has begun sample shipment of 1,700V withstanding voltage products.

IGBT and Thyristor Market Segmentation:
IGBT and Thyristor Market - by IGBT Packaging Type
Discrete
Module

IGBT and Thyristor Market - by IGBT Power Rating
Low
Medium
High

IGBT and Thyristor Market - by IGBT Application
Energy & Power
Rail Traction System
Uninterrupted Power Supply
Electric Vehicles and Hybrid Vehicles
Consumer Electronics
Others

IGBT and Thyristor Market - by Thyristor Application
Power Transmission Systems
Motor Controllers
Light Dimmers
Pressure Control Systems
Liquid-level Regulators
Others

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Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

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