The insulated-gate bipolar transistor (IGBT) market is anticipated to grow at a CAGR of more than 8.0% during the forecast period. IGBT is a type of semiconductor which is utilized as an electronic switch device. It is also called as minority carrier device which aids faster switching rate and provides greater efficiency and is a cost-effective solution to replace Metal Oxide Semiconductor Field Effect Transistor (MOSFET) that is compatible with larger voltage and current. IGBT is extensively used in consumer electronics, electric vehicle and industrial systems due to factors such as high-speed switching rate and optimized power loss and to improve power management by increasing energy conservation owing to this, the IGBT market is significantly growing.
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The IGBT market is further segmented based on geography including North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific is expected to hold a considerable market share due to rising awareness and implementation of renewable resources. It is a low power consuming component that is largely used in energy savings in the Asia-Pacific region. The market in the Asia-Pacific region is expected to grow at a significant growth rate in the IGBT market during the forecast period owing to a huge market of electric vehicles. Additionally, China is the fastest-growing country in terms of adopting EV and has witnessed around 80% market growth. Japan and India also hold a rising demand for energy-saving resources.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
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
Global Insulated-Gate Bipolar Transistor (IGBT) Market – Segment by Region
North America
- The US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East Africa
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