Insulated-Gate Bipolar Transistor (IGBT) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Insulated-Gate Bipolar Transistor (IGBT) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The IGBT market was valued at USD 6.047 billion in 2020, and it is expected to reach USD 11.01 billion by 2026, at a CAGR of 10.56%, during the forecast period (2021-2026). The broad application range of IGBTs lured several new companies to venture into the market. IGBT activates/modifies electrical energy in several modern appliances, such as cookers, microwaves, electric cars, trains, variable-frequency drives (VFDs), variable speed refrigerators, air conditioners, lamp ballasts, municipal power transmission systems, and stereo systems, which are well-equipped with switching amplifiers.

Key Highlights

• Driven by carbon emission regulation, the automobile market is moving toward electrification of powertrains in electric and hybrid vehicles (EV/HEV), where conduction and switching losses are significantly reduced, having a direct impact on the overall efficiency.
• Sales of electric cars in Europe, North America, and China are creating new avenues for IGBTs to support infrastructure and for manufacturing EV. Thus, the stance of IGBT in the market is further strengthened.
• IGBTs could not penetrate into the market for lower voltage ranges (<400 V), as they do offer any major advantage compared to MOSFETs. It cannot deal with limited free-wheeling current since it lacks body-drain diode and a large current tail. IGBTs are vulnerable to heating issues because they run at very high frequencies and under high power. Thermal characterization helps to optimize the IGBTs layout, structure, and mounting to optimize its performance.

Key Market TrendsEV/HEV to Drive the Growth of IGBT

• Electric cars and hybrid vehicles use IGBT modules as they require a higher level of reliability compared to typical industrial purposes.
• The reliability of IGBT modules as compared to other systems is the primary factor influencing the growth of the market.
• According to EEI, the total EV sales for 2018 were up 40%, compared to 2017. BMW and Volvo stood out with a much higher share of EV sales than other automakers (excluding Tesla).
• The United States, which hosts maximum EVs (thus having maximum market share for IGBT), has seen EV sales increasing over the years.

Asia-Pacific to Witness the Fastest Growth

• In 2018, all the electric vehicles gained 3% share in the mix from 2017, driven by growth in China.
• According to EVVOLUMES, largest growth contributor, in 2018, was China, where sales increased by over 500,000 units to 1.2 million.
• China stood for 56% of all plug-in sales. In the neighborhood electric vehicle (NEV) segment 520,000, or 78% more units were sold in 2018. Primarily, due to the increasing production of electric vehicles in the region, the market is expected to witness a significant growth rate in the region.

Competitive Landscape

The market for IGBT is concentrated, with some market players, like Infineon, Fuji Electric, Mitsubishi, Toshiba, and Hitachi, along with other giants, capturing the major market share.

• November 2018 - Renesas Electronics Corporation and Secure Thingz, a global domain expert in device security, collaborated to ensure secure Internet of Things (IoT) applications are more easily developed on leading microcontrollers (MCUs), and that a secure production flow is available to deliver a secure global supply chain.
• July 2018 - ABB Control Technologies and Actemium signed a global cooperation agreement, which is expected to deliver joint solutions that enable customers to benefit from leading automation solutions. This increases the scope of IGBTs in industrial applications.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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