Insulated Gate Bipolar Transistor (IGBT) Market 2024 – A Promising Growth Rate During The Forecast Period

Insulated Gate Bipolar Transistor (IGBT) is a power semiconductor device and majorly finds application in switch, pulse modulation and phase control among others. This device competes with other power semiconductor devices including power MOSFETs, Silicon-Carbide (SiC), Gallium-Nitride (GaN). IGBT has been gaining demand owing to lower switching losses and higher reliability, which highlights features including higher efficiency and better thermal performance. The increasing focus and increased investments in R&D on IGBT chip and module optimization to reduce power consumption, improve chip density, thermal resistivity and efficiency would further strengthen the position of IGBT power semiconductor market.

IGBT is sold either as discrete device or as a module. The major applications of IGBT include motor drives, inverters, uninterruptible power supply (UPS), electric and hybrid electric vehicles (EV/HEV), industrial systems, consumer electronics, and medical devices. Green energy sector including wind turbines and solar photovoltaic (PV) in particular gaining significant growth in demand driven by rapid growth in green energy market itself that is leading to more wind turbine installations and more PV inverters being sold. Moreover, demand for EV/HEV is gaining significant traction and is expected to lead to high growth of IGBT market in coming future.

Over the coming years, the replacement of aging power infrastructure in developed regions and increased demand for smart grids would further boost the demand of IGBT and represents a significant opportunity. A major challenge to growth of IGBT is higher cost of the device as compared to power MOSFETs. Europe was the leading market for IGBT followed by Asia Pacific. North America is witnessing significant growth in demand owing to growth of green energy and EV/HEV markets.

Some of the key players in IGBT market include Infineon Technologies AG, Fujitsu Ltd., NXP Semiconductors N.V., STMicroelectronics N.V., Toshiba Corporation, Vishay Intertechnology, Inc., Renesas Electronics Corporation, ROHM Co. Ltd., Fairchild Semiconductor International, Inc., and Fuji Electric Co. Ltd among others.