Insulated Gate Bipolar Transistors Market Size (2024 - 2029)

The insulated gate bipolar transistors market is experiencing growth driven by the increasing adoption of power device technologies and their critical role in enhancing efficiency in applications such as home appliances and industrial motors. The rising demand for power-efficient electronic devices, fueled by global population growth and fossil fuel usage, is contributing to the market's expansion. Additionally, the electric vehicle sector is a significant growth driver, as IGBTs are essential for electric vehicle power supplies, impacting cost and range. Their application in renewable energy projects, like solar and wind, further underscores their importance in high-power scenarios. Despite initial disruptions due to the COVID-19 pandemic, the market has rebounded as demand for IGBT-integrated products surged with the easing of restrictions.

Market Size of Insulated Gate Bipolar Transistors Industry

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Insulated Gate Bipolar Transistors Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 7.45 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Insulated Gate Bipolar Transistors Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Insulated Gate Bipolar Transistors Market Analysis

The market for insulated gate bipolar transistors was estimated at USD 7.23 billion. The market is expected to reach USD 11.56 billion over the forecast period, registering a CAGR of 7.45%. The increasing deployment of power device technologies is also expected to strengthen the IGBT market. IGBT is widely used in inverter applications in home appliances like refrigerators, air conditioners, and industrial motors to improve efficiency.

  • Power transistors, such as IGBTs, help in the rapid dissipation of heat, prevent overheating, and minimize carbon dioxide emissions and the cost of electricity. These advantages make them a crucial component of several electronic products. Due to the increasing worldwide population and usage of fossil fuels, there has been a rising demand for power-efficient electronic devices.
  • Further, the enormous growth in the EV market is also anticipated to drive growth in the insulated-gate bipolar transistor (IGBT) market. It forms an integral part of electric vehicle power supplies, and developments in the field will decrease the cost and increase the range of electric vehicles. IGBT applications in electric and hybrid electric vehicles include power usage in powertrains and chargers for delivery and control of power regarding motors.
  • Solar and wind applications often use high-power semiconductor devices to optimize generation and network connections. IGBTs are a highly suitable option when working with the high power levels found in large-scale renewable projects. In solar inverter applications, inverters convert DC voltage from a solar array panel to AC voltage. The latter can be used to power AC loads (e.g., lighting, home appliances, power tools, etc.) using a single-phase AC sinusoidal voltage waveform at a frequency and voltage that depend on the design for which the inverter is intended. Many IGBT options can help achieve those requirements.
  • Semiconductors, such as IGBTs, are made from a range of raw materials, including silicon, germanium, gallium arsenide, etc. These materials are processed and purified to create a crystalline structure, which forms the foundation for building semiconductor devices such as different types of transistors. Other raw materials used in the manufacture of semiconductor devices include impurities such as boron and phosphorus for doping, as well as metals for interconnects, insulators for isolation, and various chemicals for cleaning and etching.
  • The outbreak of COVID-19 across the globe significantly disrupted the supply chain and production of the market studied in the initial phase of the pandemic. Many end-user industries of the market were also affected due to the pandemic, which negatively impacted the market. However, with many COVID-19-related restrictions easing in the following year, the demand for many products incorporating IGBTs picked up, thereby positively influencing the market.

Insulated Gate Bipolar Transistors Industry Segmentation

Insulated gate bipolar transistors are semiconductor devices with three terminals. It has been developed by combining the best qualities of both BJT and power MOSFETs. It provides a steady electricity supply by reducing the congestion in the power supply, which leads to optimized power utilization. The market study focuses on the trends affecting the market for applications in multiple regions. The study tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry. Further, the study also tracks the impact of COVID-19 on the overall insulated gate bipolar transistor industry and its performance.

The insulated gate bipolar transistor (IGBT) market is segmented by type (discrete IGBT and modular IGBT), power rating (high power, medium power, low power), application (automotive and EV/HEV, consumer, renewables, UPS, rail, industrial/motor drives), and geography (North America, Europe, Asia Pacific, and the rest of the world). The market sizes and forecasts are provided in terms of value (USD billion) for all the above segments.

By Type
Discrete IGBT
Modular IGBT
By Power Rating
High Power
Medium Power
Low Power
By Application
Automotive and EV/HEV
Consumer
Renewables
UPS
Rail
Industrial/Motor Drives
Other Applications
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
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Insulated Gate Bipolar Transistors Market Size Summary

The insulated gate bipolar transistor (IGBT) market is poised for significant growth, driven by the increasing deployment of power device technologies and the rising demand for power-efficient electronic devices. IGBTs are integral to enhancing the efficiency of inverter applications in home appliances and industrial motors, as well as in electric and hybrid vehicles, where they play a crucial role in powertrain and charger systems. The burgeoning electric vehicle market is a key driver, as IGBTs are essential for power conversion in EV power supplies, contributing to cost reduction and extended vehicle range. Additionally, the use of IGBTs in renewable energy applications, such as solar inverters, underscores their importance in managing high power levels and optimizing energy generation.

The market landscape is characterized by moderate competition, with both small and large players engaging in strategies like product innovation and strategic partnerships to expand their offerings and market presence. Regions such as Asia-Pacific, particularly China and Japan, are significant contributors to the market due to their robust electronics and automotive industries. The demand for IGBTs is further bolstered by advancements in 5G technology and the automotive sector's shift towards electric vehicles. Companies like Renesas Electronics and Infineon Technologies are at the forefront, introducing new generations of IGBTs to enhance power electronics in EVs and other applications. Despite challenges posed by the COVID-19 pandemic, the market has shown resilience, with a rebound in demand as restrictions eased, highlighting the critical role of IGBTs in various high-tech and energy-efficient applications.

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Insulated Gate Bipolar Transistors Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Buyers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitutes

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Assessment of Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Discrete IGBT

      2. 2.1.2 Modular IGBT

    2. 2.2 By Power Rating

      1. 2.2.1 High Power

      2. 2.2.2 Medium Power

      3. 2.2.3 Low Power

    3. 2.3 By Application

      1. 2.3.1 Automotive and EV/HEV

      2. 2.3.2 Consumer

      3. 2.3.3 Renewables

      4. 2.3.4 UPS

      5. 2.3.5 Rail

      6. 2.3.6 Industrial/Motor Drives

      7. 2.3.7 Other Applications

    4. 2.4 By Geography

      1. 2.4.1 North America

      2. 2.4.2 Europe

      3. 2.4.3 Asia Pacific

      4. 2.4.4 Latin America

      5. 2.4.5 Middle East and Africa

Insulated Gate Bipolar Transistors Market Size FAQs

The Insulated Gate Bipolar Transistors Market is projected to register a CAGR of 7.45% during the forecast period (2024-2029)

Infineon Technologies AG, Renesas Electronics Corporation​, Texas Instruments Incorporated, Analog Devices Inc.​ and Microchip Technology Inc. are the major companies operating in the Insulated Gate Bipolar Transistors Market.

Insulated Gate Bipolar Transistors Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)