IGBTs and Thyristors Market - By Voltage (Low-voltage IGBTs, Medium-voltage IGBTs, High-voltage IGBTs), By Packaging Type (IGBT Discrete, IGBT Module), By Application, & Forecast 2024 - 2032

IGBTs and Thyristors Market - By Voltage (Low-voltage IGBTs, Medium-voltage IGBTs, High-voltage IGBTs), By Packaging Type (IGBT Discrete, IGBT Module), By Application, & Forecast 2024 - 2032


The Global IGBT and Thyristors market will grow over 2% CAGR from 2024 to 2032 due to the rapid expansion of renewable energy sources. According to the UN, as per IRENA estimates, by 2050, the share of renewable energy could be 90% of the world's electricity. As countries around the world prioritize sustainability and work to reduce their dependence on fossil fuels, the use of renewable energy sources such as solar and wind power has increased significantly.

This expansion requires advanced electronic solutions for efficient grid integration, energy management, and power conversion. IGBTs and thyristors play an important role in renewable energy systems, facilitating the conversion of direct current produced by solar panels and wind turbines into alternating current for distribution, thereby inducing market growth.

The expansion of electric vehicle (EV) infrastructure is a visible trend in the market. According to the IEA, the registration of almost 14 million new electric cars worldwide in 2023 brought the total number of electric cars on track to 40 million. The global transition to electrification of transportation requires a robust charging infrastructure to support the growing fleet of electric vehicles. This trend includes installing charging stations in city centers, along highways, and in commercial and residential areas. As governments and private companies invest heavily in the development of electric vehicle infrastructure, the demand for IGBTs and thyristors used in charging stations, DC-DC converters, and powertrain inverters for electric vehicles will increase accordingly.

The overall IGBT and thyristor industry is classified based on voltage, package type, application, and region.

The IGBT Discrete segment will grow rapidly through 2032 due to the ability to offer high power density, strong performance, and better thermal management capabilities, making IGBT Discrete devices ideal for many electronic applications, including motor drives, renewable energy inverters, and industrial automation systems. With advances in packaging technology that enable higher voltages and currents, IGBT Discrete devices are ready to meet the changing needs of industries seeking compact, reliable, and efficient solutions for power conversion and control.

The medium voltage IGBT segments will continue to grow steadily through 2032 due to their ability to handle higher voltages and currents, making medium voltage IGBTs suitable for applications that require strong power switching capabilities, such as traction power transmission equipment, medium voltage, motor controllers, and grid-connected inverters. Thanks to the development of semiconductors and device architectures, medium voltage IGBTs offer better efficiency, lower switching losses, and better reliability, promoting their adoption in various industries and applications.

Europe IGBT and Thyristor industry will experience significant traction through 2032 due to a combination of regulatory measures, technological advances, and market dynamics. Countries like Germany, France, and Italy are at the forefront of this digital revolution, leading initiatives to improve energy efficiency, promote the integration of renewable energy, and accelerate industrial automation. As a hub for the automotive industry, renewable energy deployment, and smart grid initiatives, Europe offers fertile ground for the development and deployment of advanced electronic technologies, thereby fueling market growth.


Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Base estimates & calculations
1.3 Forecast calculations
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 360 degree synopsis, 2018 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Profit margin analysis
3.3 Technology & innovation landscape
3.4 Patent analysis
3.5 Key news & initiatives
3.6 Regulatory landscape
3.7 Impact forces
3.8 Growth drivers
3.8.1 Renewable energy expansion
3.8.2 Growth of electric vehicles (EVs) and hybrid electric vehicles (HEVs)
3.8.3 Smart grid infrastructure
3.8.4 Emerging applications in automotive electronics
3.8.5 Urbanization and infrastructure development
3.9 Industry pitfalls & challenges
3.9.1 Complexity of drive circuitry
3.9.2 Thermal management challenges
3.10 Growth potential analysis
3.11 Porter's analysis
3.11.1 Supplier power
3.11.2 Buyer power
3.11.3 Threat of new entrants
3.11.4 Threat of substitutes
3.11.5 Industry rivalry
3.12 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Voltage, 2018 - 2032 (USD Million)
5.1 Key trends
5.2 Low voltage IGBTs
5.3 Medium voltage IGBTs
5.4 High voltage IGBTs
Chapter 6 Market Estimates & Forecast, By Packaging Type, 2018 - 2032 (USD Million)
6.1 Key trends
6.2 IGBT discrete
6.3 IGBT module
Chapter 7 Market Estimates & Forecast, By Application, 2018 - 2032 (USD Million & Units)
7.1 Key trends
7.2 Power transmission systems
7.3 Renewable energy
7.4 Rail traction systems
7.5 Uninterruptible power supply (UPS)
7.6 Electric & hybrid electric vehicles
7.7 Others
Chapter 8 Market Estimates & Forecast, By Region, 2018 - 2032 (USD Million)
8.1 Key trends
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.3 Europe
8.3.1 UK
8.3.2 Germany
8.3.3 France
8.3.4 Italy
8.3.5 Spain
8.3.6 Russia
8.3.7 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 India
8.4.3 Japan
8.4.4 South Korea
8.4.5 ANZ
8.4.6 Rest of Asia Pacific
8.5 Latin America
8.5.1 Brazil
8.5.2 Mexico
8.5.3 Rest of Latin America
8.6 MEA
8.6.1 UAE
8.6.2 Saudi Arabia
8.6.3 South Africa
8.6.4 Rest of MEA
Chapter 9 Company Profiles
9.1 Renesas Electronics Corporation
9.2 Semikron Danfoss
9.3 Diodes Incorporated
9.4 Dynex Semiconductor Ltd
9.5 Infineon Technologies AG
9.6 Hitachi Energy Ltd.
9.7 Fuji Electric Co., Ltd.
9.8 Mitsubishi Electric Corporation
9.9 STMicroelectronics
9.10 Toshiba Corporation
9.11 ABB Ltd.
9.12 Danfoss

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