Pune, May 21, 2020 (GLOBE NEWSWIRE) -- The global insulated gate bipolar transistor (IGBT) market size is projected to reach USD 9.90 billion by the end of 2026. Technological advancements have played a huge role in the growth of the market in recent years. According to a report published by Fortune Business Insights™ titled, “Insulated Gate Bipolar Transistor (IGBT) Market Size, Share & Industry Analysis, By Voltage (Low Voltage, Medium Voltage, and High Voltage), By Application (Consumer Electronics, Industrial Manufacturing, Automotive (EV/HEV), Inverters/UPS, Railways, Renewables, Others) and Regional Forecast, 2019-2026,” the market was worth USD 4.92 billion in 2018 and will exhibit a CAGR of 9.2% during the forecast period, 2019-2026.
Insulated gate bipolar transistor is a voltage-operated power electronic device that is used in electronic circuits for several applications. Recent technological advancements have allowed diverse applications. The high investment in the development and integration of IGBTs into electronic circuits will bode well for the market. Moreover, technologies such as AI and IoT have opened up a wider scope for applications. The increasing applications of IGBT across industries such as switch-mode power supplies (SMPS), UPS, and motor drive inverters will create several growth opportunities for the companies operating in the market. The presence of several large scale companies will have a positive impact on the growth of the overall market. The use of IGBT in electric vehicles and the increasing production of these vehicles will lead to a wider product adoption across the world.
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An Overview of the Impact of COVID-19 on this Market:
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Company Mergers are an Increasing Trend Among Major Companies
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Accounting to increasing applications of IGBT, there are several companies operating across the world. Due to healthy market competition, major companies are looking to adopt strategies that will help establish a formidable stand in the market. It is observed that company mergers are a growing trend among major companies. In May 2019, Infineon Technologies announced that it has partnered with Volkswagen Group. The collaboration will be aimed at supply for Future Automotive Supply Tracks (FAST). This collaboration will help the company cater to the increasing demand for electric vehicles with low charging times. Infineon’s collaboration with Volkswagen will not just benefit the company but will have a huge impact on the growth of the market in the forthcoming years.
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Asia Pacific to Emerge Leading; Increasing Adoption of Electric Vehicles to Aid Growth
The report analyses the ongoing market trends across fiver major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in Asia Pacific is projected to emerge as the fastest growing region, owing to the increasing adoption of electric vehicles on a large scale. The rising product demand will also contribute to the growth of the market in this region. Besides Asia Pacific, the market in North America will witness considerable growth driven by the presence of several large scale companies across this region. As of 2018, the market in North America was worth USD 1.85 billion and this value is likely to increase further in the coming years.
Industry Developments:
- January 2018: Mitsubishi Electric Corporation announced the launch of a new power semiconductor module 6.5 kV full silicon carbide (SiC). The company claims that the product will offer the highest power density
- June 2019: TOSHIBA CORPORATION announced the launch of a new compact model in Insulated Gate Bipolar Transistors (IGBT) and Injection Enhanced Gate Transistors (IEGT). The product will offer accurate simulation and prediction of power loss and noise from electromagnetic interference (EMI).
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Detailed Table of Content
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Insulated Gate Bipolar Transistor (IGBT) Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Voltage (Value)
- Low Voltage
- Medium Voltage
- High Voltage
- By Application (Value)
- Consumer Electronics
- Industrial Manufacturing
- Automotive (EV/HEV)
- Inverters/UPS
- Railways
- Renewables
- Others (Traction, Energy & Power)
- By Geography (Value)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- By Voltage (Value)
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