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The global insulated-gate bipolar transistors (IGBT) market attained USD 7.31 billion in 2023. The global IGBT market is expected to grow at a CAGR of 8% in the forecast period of 2024-2032 to attain USD 14.62 billion by 2032.
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Region-wise, the Asia Pacific is driving the market for IGBT at the fastest rate, driven by their growth in China. The increase in production of electric vehicles (EVs) allied with massive manufacturing capabilities is driving the demand for the IGBT market. IGBTs are an integral part of electric vehicles. Rise in sales of electric vehicles in Europe, North America and the Asia Pacific is creating new opportunities for the market of insulated-gate bipolar transistors (IGBT) to expand. Due to carbon emission regulation, a shift toward electric vehicles is the major driver of this market. Rising demand for hybrid vehicles is also driving this market currently and is projected to do so in the forecast period as well.
IGBT is a power semiconductor that is used as an electronic switch device. It is also known as a minority carrier device that enables faster switching and offers greater efficiency. It is a cost-effective solution designed to substitute MOSFET, which is compatible with higher voltage and current. It helps in energy conservation in electric devices, such as consumer electronics and electric vehicles.
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On the basis of type, the market is bifurcated into:
In terms of power rating, the market is segmented into:
The market is divided by application into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing concerns over carbon emissions and depleting natural resources have led countries all over the world to invest in and increase the manufacturing of hybrid and electric vehicles. Since IGBTs are an integral component of these, hence the market is driven by the rise of electric vehicles. IGBTs are used for flexible and better control at high voltage. The shift towards smart grids is also driving the market for IGBTs. Based on power rating, the high voltage segment is expected to lead the market during the forecast period, while the discrete segment is expected to rise in terms of type. This is expected to aid the market growth.
The report gives a detailed analysis of the following key players in the global insulated-gate bipolar transistors (IGBT) market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Power Rating |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global insulated-gate bipolar transistors (IGBT) market attained a value of nearly USD 7.31 billion.
The market is projected to grow at a CAGR of 8% between 2024 and 2032.
The major market drivers include the shift towards smart grids, rise in sales of electric vehicles, improvement in power transmission, and the surging use of renewable energy.
The key trends guiding the market growth include rising concerns regarding carbon emissions and the increasing manufacturing of electric and hybrid vehicles.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major types of insulated-gate bipolar transistors (IGBT) are discrete and module.
The various segments based on power rating of the product in the market are high power, medium power, and low power.
The significant applications of the product are electric vehicle, inverter and UPS, railways, renewable energy, consumer electronics, and industrial manufacturing, among others.
The major players in the market are Infineon Technologies AG, ROHM Co., Ltd, Fuji Electric Co., Ltd, Renesas Electronics Corporation, Toshiba Electronic Devices & Storage Corporation, Hitachi Power Semiconductor Device, Ltd., and STMicroelectronics International N.V., among others.
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