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Insulated Gate Bipolar Transistor (IGBT) Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
Insulated Gate Bipolar Transistor (IGBT) Market
The growth of the insulated gate bipolar transistor (IGBT) market is predicted to be fueled by the rising production of electric vehicles (EVs). IGBTs, a sort of semiconductor device, act as an electronic switch for converting DC power from a car battery into the high power required for motor operation via an inverter, utilising AC control signals. The fast-switching features of the IGBT result in decreased power consumption, leading to improved mileage and making it an effective component for EV motors. With the escalating production of EVs, there will be a substantial increase in the demand for IGBTs. The International Energy Agency (IEA) forecasts 125 million electric vehicles on the roads by 2030. In the first quarter, global electric car sales rose by approximately 140%. According to the France-based intergovernmental organization, the International Energy Agency, electric vehicle sales reached 10 million in 2022, with a forecasted increase to 14 million in 2023. Consequently, the IGBT market is pushed by the heightened production of electric vehicles.
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What is the future CAGR of the insulated gate bipolar transistor (igbt) market, and how will it impact industry expansion?
The market size for Insulated Gate Bipolar Transistor (IGBT) has seen a swift expansion recently. From a value of $9.33 billion in 2024, it's expected to increase to $10.56 billion in 2025, exhibiting a Compound Annual Growth Rate (CAGR) of 13.2%. The significant surge after the historic period can be assigned to the escalating demand in power electronics, the growing requirement for energy-efficient solutions, the rise of industrial automation, amplified demand for electronic components, and surging needs in the consumer electronics domain.
In the ensuing years, the market size of the Insulated Gate Bipolar Transistor (IGBT) is poised for remarkable expansion. Predicted to reach a size of $17.47 billion by 2029, this signifies a compound annual growth rate (CAGR) of 13.4%. Growth drivers through the forecast period include the surge in electric transportation, a climb in energy storage systems, amplified demand from aerospace and defense sectors, as well as an increase in electrification and the spread of renewable energy. Further growth trends foreseen within the forecast period encompass the adoption of wide bandgap semiconductors, a trend towards miniaturization, integration with SiC diodes, Smart IGBTs, and digital control.
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What are the most significant trends transforming the insulated gate bipolar transistor (igbt) market today?
Insulated Gate Bipolar Transistor (IGBT) corporations, notably large ones, are concentrating on developing new products, like the GT30J65MRB, which offer dependable solutions to their customers. The GT30J65MRB, used inside Power Factor Correction (PFC) air conditioners, household devices, and industrial equipment power supplies, is an insulated gate bipolar transistor. In March 2023, for example, Toshiba Electronic Devices & Storage Corporation, a Japan-based electronics manufacturing company, released the GT30J65MRB. This particular model is a discrete Insulated Gate Bipolar Transistor (IGBT) rated at 650 volts (V). The GT30J65MRB, utilised as an inverter in air conditioners, decreases switching losses, exhibiting an improvement of minimum 40% compared to older-generation devices.
Which key market segments comprise the insulated gate bipolar transistor (igbt) market and drive its revenue growth?
The insulated gate bipolar transistor (IGBT) market covered in this report is segmented -
1) By Type: Discrete, Modular
2) By Power Rating: High Power, Medium Power, Low Power
3) By End-User: EV/HEV, Renewables, UPS, Rail, Motor Drives, Industrial, Commercial
Subsegments:
1) By Discrete: Standard Discrete IGBTs, High Voltage Discrete IGBTs, Low Voltage Discrete IGBTs
2) By Modular: IGBT Power Modules, Multi-chip IGBT Modules, Integrated Power Modules (IPM)
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What regions are at the forefront of insulated gate bipolar transistor (igbt) market expansion?
Asia-Pacific was the largest region in the insulated gate bipolar transistor (IGBT) market in 2024. The regions covered in the insulated gate bipolar transistor (IGBT) market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the leading players fueling growth in the insulated gate bipolar transistor (igbt) market?
Major companies operating in the insulated gate bipolar transistor (IGBT) market include Renesas Electronics Corporation, Infineon Technologies AG, Fuji Electric Co. Ltd., ROHM Co. Ltd., SEMIKRON International GmbH, ABB Group, Advanced Power Electronics Corporation, Alpha and Omega Semiconductor Inc., Applied Power Systems Inc., C&H Technology Inc., Darrah Electric Company, Dynex Semiconductor Ltd., Infineon Technologies AG, Jameco Electronics Co., Littelfuse Inc., Microsemi Corporation, Mitsubishi Electric Corporation, NXP Semiconductors N.V., ON Semiconductor Corporation, Powere*x Inc., Sensitron Semiconductor Co., Silan Microelectronics Co. Ltd., STMicroelectronics N.V., Toshiba Corporation, Transphorm Inc., Vishay Intertechnology Inc., WeEn Semiconductors Co. Ltd., Wolfspeed Inc., Xilinx Inc., Yangzhou Yangjie Electronic Technology Co. Ltd.
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What Is Covered In The Insulated Gate Bipolar Transistor (IGBT) Global Market Report?
•Market Size Forecast: Examine the insulated gate bipolar transistor (igbt) market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the insulated gate bipolar transistor (igbt) market for a structured understanding.
•Key Players Overview: Analyze major players in the insulated gate bipolar transistor (igbt) market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the insulated gate bipolar transistor (igbt) market.
•Segment Contributions: Evaluate how different segments drive overall growth in the insulated gate bipolar transistor (igbt) market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the insulated gate bipolar transistor (igbt) market.
•Industry Challenges: Identify potential risks and obstacles affecting the insulated gate bipolar transistor (igbt) market.
•Competitive Landscape: Review strategic developments in the insulated gate bipolar transistor (igbt) market, including expansions, agreements, and new product launches.
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