The introductions of various new EV (Electric Vehicle) models are one of the major drivers for the insulated-gate bipolar transistor market growth for a couple of years. Nissan Leaf introduced in 2013. After that, BMW i3 was introduced in 2015 and Jaguar I-PACE in 2019. A number of companies are expected to launch their EV in the near future which includes Audi, Porsche, Nissan, Mercedes, and Volkswagen. Audi e-Tron, Porsche Tycan, and Mercedes EQC 400 are soon to be launched in 2020 whereas Volkswagen ID.3 Base and ID.3 Mid are anticipated to launch in 2021-2022.
Moreover, Volkswagen e-Golf is running on a pilot project across different country. The upcoming new EV launches will provide more options to the buyers for the electric car which is expected to augment the insulated-gate bipolar transistor (IGBT)market. Subsequently, it will create the need to invest in the charging infrastructure of the country.
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Rising concerns related to vehicular emissions and depletion of nonrenewable energy resources that have forced the government to invest in enhancing the infrastructure of electric vehicles include hybrid electric vehicle, electric vehicle supply equipment, plug-in hybrid electric vehicle and battery electric vehicle and hybrid electric vehicle is expected to contribute to market growth. It mainly plays a vital role in the electric vehicle at high voltage and improved efficiency.
Moreover, the US has the largest consumer base of electric cars due to stringent emission rules in the region. The stock of electric cars in China almost doubled between 2017 and 2018 to reach 2.3 million. In 2018, Europe accounted for 24% of the global stock of electric cars at 1.2 million (of which 0.96 million were in European Union countries) and the US accounted for 22% with 1.1 million. Hence, demand for EVs from major economies is contributing to IGBT market growth.
Global Insulated-Gate Bipolar Transistor (IGBT) Market- Segmentation
By Type
- Discrete IGBT
- Modular IGBT
By Application
- Renewables
- Industrial
- Inverter & UPS
- Electric Vehicle
- Consumer Electronics
- Others
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
