Insulated Gate Bipolar Transistor (IGBT) Market Size, Share Global Analysis Report, 2022 – 2030

Industry Insights

[217+ Pages Report] According to the report published by Facts Factors, the global insulated gate bipolar transistor (IGBT) market size was worth around USD 7.7 billion in 2021 and is predicted to grow to around USD 12.5 billion by 2030 with a compound annual growth rate (CAGR) of roughly 11.6% between 2022 and 2030. The report analyzes the drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Insulated gate bipolar transistor (IGBT) market.

Market Overview

The insulated gate bipolar transistors are voltage-controlled electronic devices that are utilized in high-voltage applications. The higher switching frequency proves to be beneficial as it requires minimum conduction losses. A tremendous surge in demand has been experienced for these technologies from the manufacturing industry, consumer electronics, railway, energy and power, and the automotive industry. The increasing demand for the conservation of energy and reduction of carbon dioxide emissions has helped the market to record significant revenue.

The active participation of the government to encourage people to utilize renewable sources of energy has also supported the growth of the market considerably. Constant research and development programs are carried out by the key market players to introduce new insulated gate bipolar transistor chips and modules that will assist in reducing energy consumption. Features such as thermal resistivity, chip density, and efficiency are expected to boost the size of the insulated gate bipolar transistors (IGBT) market and attract potential consumers.

The outbreak of the pandemic had a major impact on the growth of the market because of the various restrictions that were imposed on transportation facilities. The raw materials that were required for the manufacturing of the semiconductors and electronic components experienced a shortage.

Key Insights

1. As per the analysis shared by the research analyst, the global insulated gate bipolar transistors market (IGBT) is estimated to grow annually at a CAGR of around 11.6% over the forecast period (2022-2030)
2. In terms of revenue, the global insulated gate bipolar transistor (IGBT) market size was valued at around USD 7.7 billion in 2021 and is projected to reach USD 12.5 billion, by 2030.
3. The market is projected to grow at a significant rate due to the growing applications of semiconductors and electronic components.
4. By application, industrial manufacturing garnered the maximum market share in 2021.
5. By voltage, the high voltage segment was leading in 2021.
6. By region, Asia-Pacific was the leading revenue generator in 2021.

Growth Drivers

• Growing applications in the automotive industry to drive market demand

The increasing demand for insulated gate bipolar transistor components in electric vehicles is helping the market to record significant revenue. This component helps to provide a premium experience to the consumer. Increasing demand for electronic devices has also helped the market to record considerable growth.

• Solar power applications

The IGBT market growth will be supported due to the growing demand for insulated gate bipolar transistors in solar power and wind power applications. The use of these transistors provides a great advantage in converters of high power. Manufacturers are engaged in coming up with innovative products to increase efficiency.

• Global digitization and increased use of smart devices

The market for IGBT is driven by the growing need for weight saving, downsizing of equipment, and energy saving for the exponential demand for smart devices. The lowest power loss is associated with the use of IGBTs in various consumer goods. 

• Research and developments activities

Constant research and development programs are carried out by the key market players to introduce new insulated gate bipolar transistor chips and modules that will assist in reducing energy consumption. Features such as thermal resistivity, chip density, and efficiency are expected to boost the size of the global insulated gate bipolar transistors (IGBT) market and attract potential consumers.

Restraints

• Design complexities to restrain the growth of the market.

A failure in the gate control due to a latch-up will lead to the failure of the system. The ambient temperature is likely to increase due to the reduction in latching current density. The bipolar transistor is likely to be destroyed due to excessive dissipation of power if the latch-up is left unattended.

Opportunities

• Rising acceptance of renewable sources of energy to provide market growth opportunities

Because of the rapid climate change and global warming, the demand for conserving energy and utilizing renewable sources of energy has emerged as a lucrative opportunity for the growth of the global insulated gate bipolar transistor (IGBT) market. The active support provided by the government for encouraging the utilization of electric vehicles has also emerged as a major opportunity.

Challenges

• The lack of skilled professionals proves to be a challenge for the growth of the market

A lack of skilled professionals who are trained to handle technical errors hampers the growth of the market. Technical failures of the IGBT system boost the demand for skilled professionals.

Segmentation Analysis

The global insulated gate bipolar transistor (IGBT) market is segmented on the basis of application, voltage, and region

By application, the market has been divided into consumer electronics, automotive EV/HEV, industrial manufacturing, railways, inverters, renewables, and others. The industrial manufacturing segment is expected to boost the size of the market significantly because of the increasing demand for automation among the producers. The inclusion of industrial IoT in the industrial sector for manufacturing has boosted the demand for insulated gate bipolar transistors. Increasing demand for electric vehicles is expected to fuel the growth of the market as it provides a premium experience to consumers.

Multiple devices are provided with FWD chips and insulated gate bipolar transistors within a single module as they can resist harsh environments, mechanical vibrations, chemical contamination, shock, humidity, and extreme temperatures. The market for consumer electronics is expected to support the growth of this segment because of the electronic components that are utilized for their smooth function.

By voltage, the market is divided into low voltage - up to 600 V and 601 to 1200 V, medium voltage - 1700 V and 2500 V, high voltage - 3300 V, 4500 V, and above. The high voltage segment is expected to fuel the size of the market because of its increasing demand among consumers. The high current carrying ability that is provided with the help of high voltage insulated gate bipolar transistors proves to be a major driving force for the market. Increasing application of high voltage has been observed in various sectors such as automotive, UAVs, and aircraft.

The medium voltage segment is expected to present rapid growth because of the increasing demand for automation. The low voltage segment is also experiencing a steady rise because of the increasing demand for electric vehicles. A rapid shift toward the utilization of energy has been experienced which is expected to boost the size of the market in the long run.

Recent Developments:

• February 2021 – CoolSiC Hybrid IGBT range was introduced by Infineon Technologies AG which is 650 V. A blocking voltage of 650V is provided in this advanced transistor. This hybrid range provides additional benefits such as 650 V TRENCHSTOP 5 IGBT and Schottky barrier CoolSiC diodes.

• June 2019 – A compact model was developed by Toshiba Corp in Insulated Gate Bipolar Transistors and Injection Enhanced Gate Transistors (IEGT). The primary objective was an accurate simulation and to calculate the power loss and the production of noise from electromagnetic interference (EMI). This model is expected to reduce the rate of error by approx. 95% by reducing the simulation time.

Report Scope

Regional Analysis

• Asia-Pacific to lead with the highest CAGR during the forecast period

Based on region, the Asia-Pacific region is expected to boost the size of the global insulated gate bipolar transistor (IGBT) market because of the semiconductor production done by the Asian countries. Numerous electronic manufacturing units are also responsible for the rapid growth of the market in this region. Increasing demand for electric vehicles is boosting the size of the market significantly. Increasing demand for power conservation has helped the market to record a significant revenue.

The region of North America is expected to gain momentum along with the increasing demand for renewable sources of energy. As this product helps to conserve energy, it has been implemented in the region of North America. The Asia-Pacific region has been followed by the European market as it has contributed significantly to the growth of the market by implementing the IGBT system in the railway industry.

Competitive Analysis

• Fujitsu Ltd. 
• Infineon Technologies AG 
• STMicroelectronics N.V. 
• NXP Semiconductors N.V. 
• Vishay Intertechnology 
• Fairchild Semiconductor International Inc. 
• Toshiba Corporation Inc. 
• ROHM Co. Ltd. 
• Fuji Electric Co. Ltd. 
• Renesas Electronics Corporation.

The global insulated gate bipolar transistor (IGBT) market is segmented as follows:

By Application Segment Analysis

• Consumer electronics
• Automotive EV/HEV
• Industrial manufacturing
• Railways
• Inverters
• Renewables
• Others

By VoltageSegment Analysis

• Low Voltage
  • up to 600 V
  • 601 to 1200 V
• Medium Voltage
  • 1700 V
  • 2500 V
• High Voltage
  • 3300 V
  • 4500 V
  • And above

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America