Nashville, TN, April 24, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “IGBT & Thyristor Market By Packaging Type (IGBT Discrete And IGBT Module), By Power Rating (Medium-Power, Low-Power, And High-Power), By Voltage (Below 400V, 600V-650V, 1,200V-1,700V, 2,500V-3,300V, And >4,500V), By Application (Power Transmission Systems, Renewable Energy, Rail Traction Systems, Uninterrupted Power Supply, Consumer Electronics, Electric Vehicles & Hybrid Electric Vehicles, And Motor Drives), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global IGBT & Thyristor Market size & share in terms of revenue was valued at USD 11.5 billion in 2022 and it is expected to surpass around USD 15.5 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 10.1% during the forecast period 2023 to 2030.”
What is IGBT & Thyristor? How big is the IGBT & Thyristor Industry?
Report Overview:
Insulated gate bipolar transistors (IGBT) and thyristors are used in power electronics applications such as inverters, controllers, and power supplies because they assist fulfil the demand for solid-state switching devices. This demand is met in part by the fact that these devices are utilised. The ever-increasing number of people in the world is driving up the already enormous demand for new sources of electricity. As a result, insulated gate bipolar transistors and thyristors have been utilised in the process of lowering switching losses and shortening switching times of MOSFET, both of which contribute to the satisfaction of contemporary needs for power. In addition to this, it meets the demand for power supply by exploiting the conduction losses and high breakdown voltage that are inherent in insulated gate bipolar transistors and thyristors.
In addition to this, insulated gate bipolar transistors and thyristors make it possible to have minimal switching losses and thermal stress, which ultimately results in an extension of the lifespan of electrical equipment and an increase in its reliability. They offer a variety of benefits, some of which are rising in popularity, such as good external thermal performance and efficiency, and are contributing to this trend.
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- Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
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- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
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Global IGBT & Thyristor Market: Growth Factors
Increasing population contributes to a rising demand for electricity, which in turn drives up market trends worldwide.
The introduction of smart grids and other forms of innovative grid technology in the power industry will provide a boost to the trends in the worldwide IGBT and thyristor market. In the next years, the expansion of the market is anticipated to be led by the rise in the population as well as the enormous demand for more power supply. The expansion of the market across the world will be guided by the widespread use of the product for usage in power electronics applications such as controllers, power supplies, and inverters on a large scale. Market Demand for IGBTs and thyristors is expected to be propped up by an increase in the number of nuclear families, which will lead to an increased need for robust infrastructure facilities. IGBT and thyristors are in high demand because of their many advantages, including a reduced switching period of MOSFET and lower switching losses. These advantages have contributed to the popularity of these two types of semiconductors.
The growth of offshore wind farms is expected to have a positive impact on the size of the IGBTs & thyristors market in the years to come. The expansion of the market in every region of the world will be fueled by favourable government initiatives for the adoption of HDVC technology. IGBT and thyristors both provide a plethora of benefits to its customers, one of which is superior thermal performance, which will stimulate market expansion across the world.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 11.5 billion |
| Projected Market Size in 2030 | USD 15.5 billion |
| CAGR Growth Rate | 10.1% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | Infineon Technologies AG, ON Semiconductor, STMicroelectronics, Mitsubishi Electric Corporation, Fuji Electric Co., Ltd., Renesas Electronics Corporation, ABB Ltd, Hitachi, Ltd., SEMIKRON, and Toshiba Corporation. |
| Key Segment | By Packaging Type, By Power Rating, By Voltage, By Application, And By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
IGBT & Thyristor Market: Segmentation Analysis
The IGBT & Thyristors Market around the world can be broken down into the following categories: power rating, packaging type, voltage, application, and region.
The global IGBT & thyristors market is segmented into the IGBT discrete and IGBT module submarkets, respectively, based on the kind of packaging used. In addition, the IGBT module category, which accounted for more than 70 percent of the global market share in 2022, is anticipated to account for the greatest market share throughout the period of 2023-2030. There is a possibility that the increase in demand for this market segment over the next eight years will be caused by the growing popularity of electric and hybrid vehicles in both developing and developing economies. In addition, IGBT modules are appropriate for use in high-power applications, which is important considering the emphasis that various governments are placing on the utilisation of HVAC tools for power transmission.
The global IGBT and thyristor industry may be broken down into three distinct segments: medium-power, low-power, and high-power, all of which are determined by the power rating. In addition, it is anticipated that the medium-power segment, which was responsible for more than 26 percent of the worldwide market share in 2022, will be in the vanguard of segmental expansion in the years to come. In addition, the expansion of the market over the period of 2023-2030 may be attributable to the market segment's capacity to satisfy the requirements of high-voltage direct current systems, electric vehicles, flexible alternate current gearbox systems, and hybrid electric vehicles. The demand for a medium power rating will increase as a direct result of rising ecological concerns and positive government actions.
On the basis of the application, the global IGBT & thyristors may be broken down into the following categories: power transmission systems, renewable energy, rail traction systems, consumer electronics, electric vehicles and hybrid electric vehicles, and motor drives. It is expected that the market for electric vehicles and hybrid electric vehicles would see the highest CAGR over the course of the next eight years. The expansion of the market in the approaching years may be attributable to the growing demand for electric vehicles and hybrid electric vehicles as a result of the requirement to lessen the amount of fuel emissions released into the atmosphere and the requirement to improve the efficiency with which power is conserved.
Below 400V, 600V-650V, 1,200V-1,700V, 2,500V-3,300V, and beyond 4,500V are the categories that make up the voltage-based breakdown of the global IGBT and thyristor industry, respectively.
The global IGBT & Thyristor market is segmented as follows:
By Packaging Type
- IGBT Discrete
- IGBT Module
By Power Rating
- Medium Power
- Low Power
- High-Power
By Voltage
- Below 400V
- 600V-650V
- 1,200V-1,700V
- 2,500V-3,300V
- >4,500V
By Application
- Power Transmission Systems
- Renewable Energy
- Rail Traction Systems
- Uninterrupted Power Supply
- Consumer Electronics
- Electric Vehicles & Hybrid Electric Vehicles
- Motor Drives
Browse the full “IGBT & Thyristor Market By Packaging Type (IGBT Discrete And IGBT Module), By Power Rating (Medium-Power, Low-Power, And High-Power), By Voltage (Below 400V, 600V-650V, 1,200V-1,700V, 2,500V-3,300V, And >4,500V), By Application (Power Transmission Systems, Renewable Energy, Rail Traction Systems, Uninterrupted Power Supply, Consumer Electronics, Electric Vehicles & Hybrid Electric Vehicles, And Motor Drives), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report At https://www.zionmarketresearch.com/report/igbt-thyristor-market
Competitive Landscape
Some of the main competitors dominating the global IGBT & Thyristor market include -
- Infineon Technologies AG
- ON Semiconductor
- STMicroelectronics
- Mitsubishi Electric Corporation
- Fuji Electric Co. Ltd.
- Renesas Electronics Corporation
- ABB Ltd
- Hitachi Ltd.
- SEMIKRON
- Toshiba Corporation.
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the IGBT & Thyristor market is likely to expand at a CAGR of around 10.1% during the forecast period (2023-2030).
- In terms of revenue, the IGBT & Thyristor market size was valued at around US$ 11.5 billion in 2022 and is projected to reach US$ 15.5 billion by 2030.
- Based on packaging type, the IGBT module segment is predicted to contribute a majorly towards the market growth over the forecast timeline.
- In terms of application, the electric vehicles & hybrid electric vehicles segment to record the fastest CAGR over 2023-2030.
- On basis of power rating, the medium-power segment is projected to dominate the global market share during the assessment period.
- Region-wise, the European IGBT & Thyristor market is projected to register the highest CAGR during the assessment period.
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Key questions answered in this report:
- What is the market size and growth rate forecast for IGBT & Thyristor industry?
- What are the main driving factors propelling the IGBT & Thyristor Market forward?
- What are the leading companies in the IGBT & Thyristor Industry?
- What segments does the IGBT & Thyristor Market cover?
- How can I receive a free copy of the IGBT & Thyristor Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Packaging Type, By Power Rating, By Voltage, By Application, And By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
Asia-Pacific IGBT & thyristor market to register a major revenue share over 2023-2030
The Asia-Pacific, which accounted for 50% of the global IGBT & thyristor market revenue share in 2022, is anticipated to dominate the regional market growth over the forecast timeframe. The regional market expansion can be credited to the growing need for proficient power transmission systems for fulfilling the escalating demand for power supply in the sub-continent. Many regions have many HVDC ventures. For instance, China has accepted HVDC systems for its rapidly increasing population requiring a large amount of power supply.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
- In the second half of 2019, a U.S.-based firm supplying semiconductors ON Semiconductor launched the VE-Tra series of power modules which is particularly devised for inverters with high-voltage automotive traction. The move will boost the expansion of the IGBT & thyristor industry across the globe.
- In the last quarter of 2019, STMicroelectronics N.V., a key Swiss firm in the semiconductor business, joined hands with Maxon Motor AG, a key provider of precision motors, for designing & developing robotics and industrial servo drivers. The initiative will enlarge the scope of the growth of the global market.
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FREQUENTLY ASKED QUESTIONS
- What are IGBT & thyristor?
- Which key factors will influence global IGBT & thyristor market growth over 2023-2030?
- What will be the value of the global IGBT & thyristor market during 2023-2030?
- What will be the CAGR value of the global IGBT & thyristor market during 2023-2030?
- Which region will record the highest growth in the IGBT & thyristor industry globally?
- Which are the major players leveraging the global IGBT & Thyristor market growth?
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