Insulated-Gate Bipolar Transistors (IGBTs) Market Forecast, 2014 - 2022

Allied Market Research recently published a report titled, “Insulated-Gate Bipolar Transistors (IGBTs) Market Report. The report projects that the global market is estimated to generate around $11 billion by 2022. The global market was dominated by Asia-Pacific, accounting for around 50% revenue share of the total IGBT market, followed by Europe.

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IGBT module is the most popular device widely used in different industries. In the current scenario, the major driving factors of the market include growth in demand for higher efficiency, faster switching, and minimal power loss. In addition, augmented demand for high voltage operating devices is forecasted to create huge opportunities for the market players. The IGBT module is the leading category in the global market, and is projected to continue with the trend throughout the analysis period. However, owing to its compact size and improved efficiency, discrete IGBT segment is estimated to witness significant growth in the future.

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As these modules are used for power transmission in high voltages with minimum current loss, high power IGBT segment is predicted to retain its lead in the overall IGBT market. In addition, Asia-Pacific is the major contributor in terms of revenue in the market owing to surge in demand for electric vehicles utilizing IGBT for power transaction. The major consumers of IGBT in the Asia-Pacific region include, China, India, and Japan.

In 2014, among the different applications, energy & power segment dominated the global market, accounting for around 23% share. Proactive government initiatives to establish smart grids and High Voltage Direct Current (HVDC) has boosted market growth. However, electric vehicle is forecasted to be the most lucrative application segment, and is estimated to grow at a CAGR of 12.1% during the forecast period. This is largely due to increase in demand for power management in electric vehicles. In addition, in terms of revenue, Asia-Pacific was the leading contributor to the electric vehicle market in 2014.

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In 2014, Asia-Pacific accounted for most of the revenue, and is forecasted to maintain its dominance throughout the forecast period. This is attributed to the growing number of electric vehicles and increasing industry systems, that increase the demand for IGBT. In addition, progress in consumer electronic and inverters & UPS would fuel the growth of the IGBT market, particularly in Asian countries such including Japan, South Korea, China and India.

As High-Voltage IGBTs allow power management and reduce power leakage, they are widely used in automotive applications. In addition, they also offer several benefits such as high efficiency, reduced system complexity, and minimum system maintenance. Owing to its resilience and higher efficiency, IGBT module represents around 60.62% of the total IGBT market. In addition, according to Rakesh Singh, Manager, Research, Semiconductor & Electronics, AMR, significant growth in demand for electric vehicles and customer shift towards progressive power semiconductor to achieve better efficiency are likely to promote its adoption in inverter & UPS, energy & power, industry systems and consumer electronics.

The Asia-Pacific region is forecasted to be the fastest growing market throughout the study period, due to growth in focus on renewable energy, power transmission, and adoption of IGBT in electric vehicles. In addition, increase in IT expenditures in numerous countries such as China, Japan, India, and South Korea to cater to end-user storage needs have boosted the prospects for market growth. In addition, progress in technology to tackle power loss issues in IGBT would offer lucrative opportunities for the market players.

The major players in the IGBT market focus on expanding their business operations in the fast-growing emerging countries with new product launch as the preferred strategy. The major players profiled in this report include STMicroelectronics N.V., ABB Group, IXYS Corporation, Toshiba Corporation, Semikron International GmbH, Mitsubishi Electric Corp., Renesas Electronics Corp, Infineon Technologies AG, Fuji Electric Co. Ltd., and NXP Semiconductors N.V.

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