Press release
IGBT & Thyristor Market Set for Rapid Growth by 2024
Power has become an important component in daily life. We cannot expect life without power. The absence of power will create disastrous consequence in human life. The transmission system is loaded with different limits and power trading with varied load pattern may cause blockage in urban cities. The insulated gate bipolar transistor (IGBT) & thyristor provide the advantage over metal-oxide-semiconductor field effect transistor (MOSFET) for minimum switching time and switching losses. In addition, it also provides the advantage over elevated breakdown voltage and fewer conduction losses of the bipolar junction transistor (BJT) in order to meet current power need. FACTS systems and HVDC use power electronic converters for power conversion and control power quality. Earlier, IGBTs and thyristors were used as key components in HVDC and FACTS converters for many years and now have been developed for higher power use. These devices also use high breakdown voltage and conduction losses in BJT to fulfill current power requirement. For example, New Technology Integrated Gate Commutated Thyristor (IGCT) overcomes all drawbacks of the GTO thyristor and the IGBT; it makes all essential development in order to provide a reliable power device that can easily work in medium voltage applications.
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Global IGBT & Thyristor Market: Growth Factors
Owing to developed technology and the introduction of smart grids in the power sector, the Global IGBT and Thyristor market is anticipated to boost in the near future. However, increasing population and demand for huge power supply is expected to enhance the market growth. IGBT and thyristor are used as power supplies, controllers, and inverters in power electronics applications to meet the increasing demand of solid state switching devices. An increasing number of nuclear families and infrastructure is expected to fuel the market demand in future. IGBT and thyristors accommodate several advantages such as less switching times of MOSFET and minimum switching losses in order to meet current electricity demands in future.
Global IGBT & Thyristor Market: Segmentation
The Global IGBT and Thyristor market can be segmented on the basis of application as flexible AC transmission system (FACTS) and HVDC. Of which, flexible AC transmission system (FACTS) application is the leading segment in the market as it is used for congestion management, voltage stabilization, frequency stabilization; maintain power flow control & stability, and others. Others application segment is further sub-segmented as EV/HEV, renewable energy, liquid level regulator, transportation, light dimmer, pressure control system, motor controls, and so on.
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Global IGBT & Thyristor Market: Regional Analysis
Asia Pacific is anticipated to witness high growth in the power sector owing to increasing spending and developed the industrial network. In addition, India and China are the fastest growing regions for IGBT and Thyristor market owing to rising population and growing infrastructure. Further, Brazil accounted for largest market share for FACTS application in IGBT and Thyristor market. Australia is also anticipated to show a significant growth in the IGBT and Thyristor market.
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Global IGBT & Thyristor Market: Competitive Players
Some of the major players in the IGBT and Thyristor market are Fuji Electric Co., ABB Ltd., Infineon Technologies AG., Fairchild Semiconductor International Inc., Hitachi Ltd., and others.
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