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IGBT (Insulated-Gate Bipolar Transistor) Market Growth & Forecast
IGBT (Insulated-Gate Bipolar Transistor) Market Size, Share, Growth, Trend, Forecast, & Industry Analysis – 2023-2028.
The IGBT market is estimated to grow from USD 8.08 billion in 2022 to reach USD 15.48 billion by 2028 at an impressive CAGR of 11.33% during the forecast period.
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IGBT is a type of power semiconductor which combines the best characteristics of both, Power MOSFET and BJT, to provide optimal solutions to a variety of applications.
An insulated-gate bipolar transistor is used for a wide range of applications such as high output 3-phase motor control inverters in HEVs/EVs, resonance circuits for home appliances, general purpose motors in industrial, commercial and residential devices, and uninterrupted power supplies.
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IGBT Market Report Overview |
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Market Size in 2028 |
USD 15.48 Billion |
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Market Size in 2022 |
USD 8.08 Billion |
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Market Growth (2023-2028) |
CAGR of 11.33% |
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Base Year of Study |
2022 |
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Trend Period |
2017-2021 |
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Forecast Period |
2023-2028 |
Some of the major IGBT manufacturers are-
The market is driven by a host of factors such as increasing demand for factory automation, power efficiency improvements, organic growth of the solar and wind energy sectors, electrification of railways, incessant shift to EVs to curb emissions and high growth in consumer appliances along with the growing demand for inverters.
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The market is segmented as discrete and module. IGBT module held the larger share of the market in 2022, owing to its wider applications as the application of discrete solutions is limited mostly up to 50kVA power range, whereas modules are used for medium to high power levels.
The market is segmented as low, medium, and high. The medium power rating segment is expected to capture the largest share of the market during the assessment period, owing to the high preference for IGBT (insulated-gate bipolar transistors) for the medium power segment.
The market is segmented as power transmission systems, renewable energy, rail traction systems, EV/HEV, motor drives, consumer electronics, and others. The motor drives segment is expected to remain the largest, whereas EV/HEV is projected to be the fastest-growing segment of the market during the assessment period, owing to their organic growth thrust by stringent emission regulations and several government initiatives.
Asia-Pacific is expected to remain the dominant as well as the fastest-growing region in the market over the coming five years owing to the fastest-growing EV/HEV market, the largest consumer electronics, solar and wind energy sectors, and growing industrial automation in the region.
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Industrialization, urbanization, and increasing disposable income in emerging economies will continue to propel the demand for insulated-gate bipolar transistor in the region during the forecast period. Organic progress of the automotive industry with increasing penetration of electric vehicles to reduce carbon emissions is also likely to boost the demand for IGBT products in the region.
The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The insulated-gate bipolar transistor market is segmented into the following categories:
This report provides intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players as well as those willing to enter the market.
What Deliverables Will You Get in this Report
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Key questions this report answers |
Relevant contents in the report |
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How big is the sales opportunity? |
In-depth analysis of the Insulated-Gate Bipolar Transistor market. |
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How lucrative is the future? |
The market forecast and trend data and emerging trends. |
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Which regions offer the best sales opportunities? |
Global, regional and country-level historical data and forecasts. |
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Which are the most attractive market segments? |
Market segment analysis and Forecast. |
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Which are the top players and their market positioning? |
Competitive landscape and Market share analysis. |
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How complex is the business environment? |
Porter’s five forces, PEST and Life cycle analysis. |
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What are the factors affecting the market? |
Drivers & challenges. |
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Will I get the information on my specific requirement? |
10% free customization. |
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.
Insulated-gate bipolar transistor is a type of power semiconductor which combines the best characteristics of both, Power MOSFET and BJT, to provide optimal solution to a variety of applications. IGBT is used for a wide range of applications such as high output 3-phase motor control inverters in HEVs/EVs, resonance circuits for home appliances, general purpose-motors in industrial, commercial and residential devices, and uninterrupted power supplies.
The market is expected to grow at a CAGR of 11.33% during the upcoming five years.
The market size is estimated to grow from USD 8.08 Bn in 2022 to USD 15.48 Bn by 2028.
Asia Pacific is expected to have largest share of the market during the assessment period.
Fuji Electric Co., Ltd., Infineon Technologies AG, Robert Bosch GmbH, The Danfoss Group, Mitsubishi Electric Corporation, ON Semiconductor Corporation, Semikron International GmbH, Toshiba Corporation, Hitachi, Ltd., Renesas Electronics Corporation, STMicroelectronics N.V., MagnaChip Semiconductor Corporation. are the key companies in the market.
The module segment has the largest share of the market during the estimated time.
The study period of the market is 2017-2028.
The market is driven by a host of factors such as increasing demand for factory automation, power efficiency improvements, organic progress of the solar and wind energy sectors, electrification of railways, incessant shift to EVs to curb emissions and high progress in consumer appliances along with the growing demand for inverters.
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