As the world shifts towards a more sustainable and eco-friendly future, Insulated-Gate Bipolar Transistors (IGBTs) are playing an increasingly important role. Read on to find out more about IGBTs, as well as their application in different markets including energy & power, consumer electronics, inverter & UPS, electric vehicle, industrial system and more.
Drivers of the Insulated-Gate Bipolar Transistors Market
The drivers of the Insulated-Gate Bipolar Transistors Market are the increasing demand for energy efficient and compact devices, the growing adoption of power electronics, the increase in research and development activities, advancements in technology, and increased investments in electronics manufacturing.
The rising number of applications for insulated-gate bipolar transistors (IGBTs) is also driving market growth. IGBTs are being used for various applications such as motor drives, renewable energy systems, electric vehicle charging stations, lighting systems and power supplies. Additionally, the adoption of IGBTs has been increasing due to their cost efficiency and reliability compared to other components. Furthermore, semiconductor manufacturers are focusing on reducing the size and complexity of IGBTs while maintaining their performance level which is expected to drive the market during the forecast period.
In addition to this, government initiatives in countries such as China aiming at developing a complete electronic ecosystem will also boost market demand for IGBTs during the forecast period.
Advantages of the Insulated-Gate Bipolar Transistors Market
Some of the advantages of the Insulated-Gate Bipolar Transistors Market are as follows:
1. High Efficiency: Insulated-gate bipolar transistors (IGBTs) are known to have higher efficiency compared to conventional bipolar junction transistors. This makes them ideal for medium- and high-voltage applications, as they consume less power and generate less heat.
2. Low Switching Losses: IGBTs have low switching losses, which allows the device to be switched on and off quickly with minimal energy loss. This helps reduce energy costs associated with switching operations.
3. Durability: IGBTs are highly reliable devices, built to last long in harsh environments and extreme temperatures. This makes them suitable for industrial processes that require a durable device that can withstand tough conditions.
4. Cost-Effectiveness: Compared to other semiconductor devices, IGBTs cost much less and offer excellent performance for many applications, making them an attractive option for cost-conscious customers.
Market Value and CAGR of the Insulated-Gate Bipolar Transistors Market (2021-2032)
The market Value and CAGR of the Insulated-Gate Bipolar Transistors Market is expected to reach $1,482.7 million and witness a CAGR of 1.2% between 2021 to 2032.
The growth of the market is driven by increasing demand for energy efficient electronics and rising adoption of IoT technology in consumer electronics and industrial applications. Increase in consumer spending on home appliances, smart devices, and other electronic products will further drive the growth of the insulated-gate bipolar transistors (IGBT) market. Moreover, growing demand from automotive industry for higher power efficiency and better performance will further bolster the market growth during the forecast period.
Challenges of the Insulated-Gate Bipolar Transistors Market
The challenges of the Insulated-Gate Bipolar Transistors Market are as follows:
1. Increasing competition from other power semiconductor devices such as MOSFETs, IGBTs and thyristors: Due to the growing number of competitors in the power semiconductor space, IGBTs are facing increasing pressure to remain competitive. This is compounded by the fact that MOSFETs and IGBTs generally offer higher switching speeds, better efficiency, and cost benefits over IGPTs.
2. High manufacturing costs: The production of insulated-gate bipolar transistors requires more steps than other types of power semiconductors, making them expensive to produce. Furthermore, they require sophisticated equipment and components which may be expensive or difficult to source.
3. Lower switching frequency: Compared to other power semiconductor devices, IGPTs have lower switching frequencies which limit their use in certain applications.
Key Players of the Insulated-Gate Bipolar Transistors Market
The key players of the Insulated-Gate Bipolar Transistors Market are:
1. ON Semiconductor (US)
2. ROHM Co., Ltd. (Japan)
3. Infineon Technologies AG (Germany)
4. STMicroelectronics N.V. (Switzerland)
5. NXP Semiconductors N.V.(Netherlands)
6. Toshiba Corporation (Japan)
7. Panasonic Corporation (Japan)
8. Mitsubishi Electric Corporation (Japan)
9. Microchip Technology Inc. (US)
10. Fuji Electric Co., Ltd. (Japan).
Market Analysis into type, application, end user and region of the Insulated-Gate Bipolar Transistors Market
The most demanded product of the Insulated-Gate Bipolar Transistors Market is expected to be NPN transistors, followed by PNP and Darlington transistors. The NPN type is mainly used for amplifying electronic signals, as well as switching electronic circuits on and off.
In terms of application, the Insulated-Gate Bipolar Transistors Market can be segmented into consumer electronics, automotive, industrial automation, aerospace & defence and healthcare. Consumer electronics is expected to remain the largest application segment due to its growing demand in applications such as TVs, laptops, smartphones and other electronic appliances.
End users of the Insulated-Gate Bipolar Transistors Market are expected to include original equipment manufacturers (OEMs), distributors/retailers/wholesalers and others. OEMs are expected to be the leading end user due to their increasing demand for high quality transistors with specific performance characteristics.
By region, North America is expected to remain the largest regional market due to its large market size and presence of major market players in this region. Asia Pacific is also a key market due to the presence of significant manufacturing activities in countries such as China, Japan and India. Additionally, rising demand from automotive and consumer electronics sectors in this region is further boosting growth of the Insulated-Gate Bipolar
Impact of Covid-19 on the Insulated-Gate Bipolar Transistors Market
The outbreak of the Covid-19 pandemic has had a significant impact on the global market for insulated-gate bipolar transistors (IGBTs). The demand for IGBTs has declined sharply due to the slowdown in economic activity and disruption of supply chains. The market is expected to recover from the pandemic-induced downturn in 2021.
Key developments in the Insulated-Gate Bipolar Transistors Market
- In January, 2021, Toshiba released the first Gallium Nitride (Gan) on Silicon Carbide (Sic) insulated-gate bipolar transistor (IGBT). This new device is the first of its kind to combine the advantages of Gan and Sic in one component. It has a significantly higher switching frequency than traditional IGBTs and enables improved performance, power efficiency, and higher current ratings.
- In May 2021, Infineon Technologies announced the launch of its latest family of insulated-gate bipolar transistors (IGBTs), which are designed for high-power applications. The new IGBTs feature an optimized gate-emitter structure that provides fast switching times and low losses for increased efficiency in motor drives, welding machines, and solar inverters.
- In June 2021, Mitsubishi Electric released the first commercial 1000V half bridge IGBT module with ultra-low on-state resistance (RDS (on)) levels to improve power density in industrial applications such as variable frequency drives, UPS systems, and electric vehicle chargers. The new module features advanced packaging technology along with optimized gate drive circuits to further reduce conduction losses.
Insulated-Gate Bipolar Transistors Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||$1,482.7 million|
|Growth Rate||CAGR of 1.2% during 2021-2031|
|Segment Covered||Type, Application, End Users, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||ON Semiconductor (US), ROHM Co., Ltd. (Japan), Infineon Technologies AG (Germany), STMicroelectronics N.V. (Switzerland) , NXP Semiconductors N.V.(Netherlands) , Toshiba Corporation (Japan) , Panasonic Corporation (Japan) , Mitsubishi Electric Corporation (Japan) , Microchip Technology Inc. (US) , Fuji Electric Co., Ltd. (Japan).|
Key Segment of Insulated-Gate Bipolar Transistors Market
By Type Overview 2021-2031, ($ Million)
• Discrete IGBT
• Concrete IGBT
By Application Overview 2021-2031, ($ Million)
• Energy & Power
• Consumer Electronics
• Inverter & UPS
• Electric Vehicle
• Industrial System
By End-User Overview 2021-2031, ($ Million)
• Manufacturing companies
By Region Overview 2021-2031, ($ Million)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa