Insulated Gate Bipolar Transistor (IGBT) Market Overview: Market Size, Major Drivers And Trends
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The insulated gate bipolar transistor (IGBT) market has witnessed rapid growth in recent years, emerging as a cornerstone in the realm of power electronics. With a market size poised to rise from $8.32 billion in 2023 to $9.48 billion in 2024 at a robust Compound Annual Growth Rate (CAGR) of 14.0%, the IGBT market is not just expanding; it’s evolving. The historic growth, driven by increased demand for power electronics and a focus on energy efficiency, sets the stage for a future marked by even more substantial expansion. The forecast period anticipates a surge, projecting the market to reach $15.77 billion by 2028, with a CAGR of 13.6%. Let’s delve into the key drivers, innovations, and strategic partnerships shaping the trajectory of the IGBT market.
Surging Consumer Electronics Demand: A Driving Force
Powering Everyday Electronics
The growth of the IGBT market is intrinsically linked to the surging demand in consumer electronics. As electronic devices designed for everyday use continue to proliferate, the need for efficient power control, switching, and voltage regulation has become paramount. South Korea-based LG’s annual financial report for 2022 reflects the trend, with LG Home Appliance & Air Solution Company earning its highest revenue ever, reaching $22.5 billion. This surge in consumer electronics demand is a potent force propelling the growth of the IGBT market.
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Innovative Products: Toshiba’s GT30J65MRB
Enhanced Power Factor Correction
Innovation is a driving force in the IGBT market, as evidenced by Toshiba’s introduction of the GT30J65MRB. This 650V-rated discrete IGBT, launched in March 2023, enhances switching losses, improving at least 40% compared to previous-generation devices. Specifically designed for power factor correction (PFC) in air conditioners, home appliances, and industrial equipment power supplies, the GT30J65MRB exemplifies the industry’s commitment to advancing technology for enhanced performance.
Strategic Partnerships: Hyundai and Kia Collaborate with Infineon
Boosting Electric Vehicle (EV) Power Semiconductor
In October 2023, Hyundai Motor Company and Kia Corporation forged a strategic partnership with Infineon Technologies AG. This collaboration aims to strengthen the supply of power semiconductors, including diodes, IGBTs, and silicon carbide (SiC) power modules, for Hyundai and Kia electric vehicles (EVs). As the automotive industry increasingly shifts towards electric mobility, partnerships like these are instrumental in ensuring a seamless and robust supply chain for EV power semiconductors.
Market Segmentation: Navigating the Landscape
Understanding the Dynamics
The IGBT market’s multifaceted nature is reflected in its segmentation. Divided by type into discrete and modular, further distinctions are made based on power rating (high, medium, and low power). The end-user segment covers a broad spectrum, including EV/HEV, renewables, UPS, rail, motor drives, industrial, and commercial applications.
Key Market Players: Leading the Charge
Pioneers in the IGBT Frontier
Major companies at the forefront of the IGBT market include Renesas Electronics Corporation, Infineon Technologies AG, Fuji Electric Co. Ltd., SEMIKRON International GmbH, and Mitsubishi Electric Corporation. These industry leaders not only contribute to the market’s growth but also drive innovation, setting the pace for advancements in power electronics.
Innovative Trends Shaping the Future
Beyond Conventional Boundaries
Looking into the forecast period, several transformative trends are poised to define the future of the IGBT market. The adoption of wide bandgap semiconductors, a miniaturization trend, integration with silicon carbide (SiC) diodes, the advent of smart IGBTs, and the integration of digital control mechanisms are among the key trends influencing the market’s evolution.
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The Insulated Gate Bipolar Transistor (IGBT) Global Market Report 2024 provides an overview of the insulated gate bipolar transistor (IGBT) market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The insulated gate bipolar transistor (IGBT) market forecast analyzes insulated gate bipolar transistor (IGBT) market size, insulated gate bipolar transistor (IGBT) market share, leading competitor and their market positions.
The Table Of Content For The Insulated Gate Bipolar Transistor (IGBT) Market Include:
1. Insulated Gate Bipolar Transistor (IGBT) Market Executive Summary
2. Insulated Gate Bipolar Transistor (IGBT) Market Segments
3. Insulated Gate Bipolar Transistor (IGBT) Market Size And Insulated Gate Bipolar Transistor (IGBT) Market Growth Rate
4. Key Insulated Gate Bipolar Transistor (IGBT) Market Trends
5. Major Insulated Gate Bipolar Transistor (IGBT) Market Drivers
……
25. Key Mergers And Acquisitions In The Insulated Gate Bipolar Transistor (IGBT) Market
26. Top Insulated Gate Bipolar Transistor (IGBT) Companies
27. Insulated Gate Bipolar Transistor (IGBT) Market Opportunities And Strategies
28. Insulated Gate Bipolar Transistor (IGBT) Market, Conclusions And Recommendations
29. Appendix
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