New York, USA, July 27, 2022 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global IGBT-based power semiconductor market. As per the report, the global market is projected to surpass $20,103.1 million and grow with a CAGR of 17.6% in the estimated period, 2019-2026. This all-inclusive report delivers a comprehensive overview of the current and future situation of the IGBT-based power semiconductor market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
Factors Impacting the IGBT-Based Power Semiconductor Market Growth:
The global IGBT-based power semiconductor market growth is driving owing to growing adoption of IGBT-based power semiconductors in invertors and other electronic products, as they perform better in high-power consuming circuits and also offer better thermal performance efficiency. Additionally, increasing implementation of IGBTs owing to their switching speed in power electronics applications like converters and power supplies, is projected to divulge profitable opportunities for the growth of the market in the estimated period. However, growing prices of IGBTs and rising demand for integrated circuits (ICs) owing to their potential to substitute power semiconductors are expected to curb the growth of the market in the upcoming years.
The report segments the global IGBT-based power semiconductor market based on type, application, and region.
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Modules Sub-Segment to Lead the Market
The modules sub-segment of the type segment is expected to hold dominant share of the market, growing with 18.6% CAGR in the estimated period. This growth is mainly owing to the speedy development in thin electronics such as compact laptops, ultra-thin phones, and others.
Consumer Electronics Sub-Segment to Hold Foremost Market Share
The consumer electronics sub-segment of the application segment is foreseen to exceed $5,430.0 million in the estimated period. This growth is mainly because of the rising demand for consumer electronics products like televisions, mobiles, laptops, and others across the globe.
Asia-Pacific IGBT-Based Power Semiconductor Market to Observe Remarkable Growth
The report examines the global IGBT-based power semiconductor market across numerous regions including North America, Asia Pacific, Europe, and LAMEA. Among these, the Asia-Pacific market is anticipated to grow extensively at a CAGR of 17.2% during forecast period. The growth of this region market is mostly owing to the rising adoption of consumer electronics products in this region.
Key Players in the IGBT-Based Power Semiconductor Market:
The report states some of the foremost players operating in the global IGBT-based power semiconductor market including
- Fairchild Semiconductors
- Mitsubishi
- Toshiba
- Infineon Technologies
- STMicroelectronics
- Semikron
- ON Semiconductors
- Fuji Electric
- IXYS
- Texas Instruments Incorporated
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading-edge in the global market.
For instance, in May 2020, Toshiba, a leading integrated manufacturer of electric and electronic equipment, launched a novel 1350 V IGBT device for use in home appliance applications.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
More about IGBT-Based Power Semiconductor Market:
- What You Need to Know About the IGBT-Based Power Semiconductors?
- Global IGBT-Based Power Semiconductor Market to Witness Significant Growth Opportunities in the Coming Years
