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Insulated Gate Bipolar Transistor (IGBT) Market Report 2025-2034: Industry Overview, Trends, And Forecast Analysis
Insulated Gate Bipolar Transistor (IGBT)
What Is the Current Insulated Gate Bipolar Transistor (IGBT) Market Size and Its Estimated Growth Rate?
The market size for the insulated gate bipolar transistor (IGBT) has expanded significantly in the recent past. The market is projected to rise from a valuation of $9.33 billion in 2024 to $10.56 billion in 2025, indicating a compound annual growth rate (CAGR) of 13.2%. The growth experienced during the historical period can be credited to factors such as the heightened demand for power electronics, a growing need for energy efficiency, an uptick in industrial automation, escalated demand for electronic components, and a surge in demand within the consumer electronics domain.
Expectations are high for the insulated gate bipolar transistor (IGBT) market as it is predicted to experience a rapid expansion in the coming years. The market size is anticipated to reach $17.47 billion by 2029, growing at a compound annual growth rate (CAGR) of 13.4%. This significant market development during the forecasted period is attributed to factors such as the growth of electric mobility, advancements in energy storage systems, increased demand in aerospace and defense sectors, heightened electrification, and the expansion of renewable energy. Noteworthy trends for the forecast period encompass the adoption of wide bandgap semiconductors, the trend towards miniaturization, integration with sic diodes, smart IGBTs, and digital control.
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How Are Emerging Segments Shaping the Insulated Gate Bipolar Transistor (IGBT) Market Landscape?
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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Which Growth Factors Are Influencing Insulated Gate Bipolar Transistor (IGBT) Market Expansion?
The growth of the insulated gate bipolar transistor (IGBT) market is anticipated to surge owing to the elevated production of electric vehicles (EVs). IGBTs, semiconductor devices that act as electronic switches, facilitate the conversion of DC power from car batteries into AC control signals, which in turn generate high power required to operate the motor via an inverter. IGBTs significantly contribute to EV motor efficiency due to their quick-switching attributes, leading to less power consumption and increased mileage. An uptick in EV production will trigger substantial demand for IGBTs. The International Energy Agency (IEA) predicts that the number of electric vehicles on the roads will reach 125 million by 2030. Globally, there was an approximately 140% surge in electric car sales in the first. For instance, the France-based intergovernmental organization, the International Energy Agency reported that the sales of electric vehicles amounted to 10 million in 2022, with a projection of 14 million in 2023. Thus, the augmented production of electric vehicles is driving the insulated gate bipolar transistor market.
Who Are the Dominant Players Across Different Insulated Gate Bipolar Transistor (IGBT) Market Segments?
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, Powe*rex 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.
What Are the Latest Developing Trends in the Insulated Gate Bipolar Transistor (IGBT) Market?
Leading businesses in the insulated gate bipolar transistor (IGBT) sector are prioritizing the innovation of new products like the GT30J65MRB, to deliver dependable services to their clientele. The GT30J65MRB is an insulated gate bipolar transistor that is employed in various devices including power factor correction (PFC) air conditioners, household appliances, and power supplies for industrial equipment. In March 2023, for instance, the GT30J65MRB was introduced by Toshiba Electronic Devices & Storage Corporation, a company based in Japan that specializes in the production of electronic devices. The GT30J65MRB's rating is 650 volts (V) and objects such as air conditioners employ it as an inverter. The GT30J65MRB raises switching losses with a minimum improvement of 40% as compared to devices of the previous generation.
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Which Geographic Regions Are Expected to Dominate the Insulated Gate Bipolar Transistor (IGBT) Market in the Coming Years?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Insulated Gate Bipolar Transistor (IGBT) Market?
2. What is the CAGR expected in the Insulated Gate Bipolar Transistor (IGBT) Market?
3. What Are the Key Innovations Transforming the Insulated Gate Bipolar Transistor (IGBT) Industry?
4. Which Region Is Leading the Insulated Gate Bipolar Transistor (IGBT) Market?
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