Insulated-gate Bipolar Transistors (IGBTs) Market, By Type (Discrete IGBT, IGBT Module), By Power Rating (High Power, Medium Power, Low Power), By Application & Forecast, 2024 – 2032

Insulated-gate Bipolar Transistors (IGBTs) Market, By Type (Discrete IGBT, IGBT Module), By Power Rating (High Power, Medium Power, Low Power), By Application & Forecast, 2024 – 2032

Insulated-gate Bipolar Transistors Market size is anticipated to observe over 10% CAGR from 2024 to 2032 driven by widespread application in various high-power electronic systems. Insulated-gate bipolar transistors (IGBTs) are essential components in power electronics due to their ability to handle high voltage and current with improved efficiency and fast switching capabilities. They are also widely used in industrial equipment, such as motor drives, renewable energy systems, and power supplies, where reliable and efficient power control is important. For instance, in February 2024, Onsemi unveiled its 1200V SPM31 intelligent power modules (IPMs), featured with the latest Field Stop 7 IGBT technology.

Moreover, IGBTs also help in the power management systems of these vehicles for enabling efficient control of electric motor drives and battery charging. As the automotive industry shifts towards electrification to meet the environmental regulations and consumer demand for cleaner transportation options, the need for high-performance IGBTs will also increase.  

The overall industry is segmented into type, power rating, application, and region.

Based on type, the market size from the discrete IGBT segment is slated to witness substantial growth rate during 2024-2032 due to their versatility and ease of integration into various electronic systems. Discrete IGBTs are favored for their ability to handle high voltage and current loads independently, making them ideal for applications that require reliable and precise power control, such as motor drives, power supplies, and industrial equipment.

With respect to application, the insulated-gate bipolar transistors industry from the energy & power segment will grow significantly through 2032. In energy applications, such as renewable energy systems, high-voltage power supplies, and grid infrastructure, IGBTs are essential for ensuring reliable and efficient power control. The strong ability to handle high power with low switching losses and high efficiency also makes them ideal for demanding applications.

North America IGBTs market is expected to expand at significant rate over 2024-2032 attributed to the strong focus on technological innovation and advanced manufacturing. These efforts are supported by significant investments in industries, such as automotive, aerospace, and industrial automation, which require high-performance power management solutions. Moreover, the push towards electric vehicles (EVs) and the expansion of smart grid technologies will add to the regional market growth.