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Jul 09, 2023

IGBT market size to grow by USD 7,292.66 million From 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, & market dynamics

NEW YORK, Dec. 14, 2022 /PRNewswire/ -- Technavio categorizes the global IGBT

NEW YORK, Dec. 14, 2022 /PRNewswire/ -- Technavio categorizes the global IGBT market as a part of the semiconductor market. The parent market, the semiconductor market, covers manufacturers of semiconductors and related products. Technavio defines semiconductor manufacturers as the companies that are involved in the production of integrated circuits (ICs) such as memory, logic, analog, and micro components; optoelectronics; sensors; and discrete semiconductors. The global IGBT market size is forecast to grow by USD 7,292.66 million at a CAGR of 12.3% between 2022 and 2027.

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Global IGBT market - Customer Landscape

To help companies evaluate and develop growth strategies, the report outlines –

Key purchase criteria

Adoption rates

Adoption lifecycle

Drivers of price sensitivity

Global IGBT market – Vendor Analysis

Vendor Landscape - The global IGBT market is fragmented due to the presence of many vendors. The market is witnessing technological advances with vendors trying to capture a dominant share of the market. They are continuously experimenting with SiC- and GaN-based materials for more efficient power management tools. They are also designing IGBTs specifically for applications such as EV/HEVs and renewable energy sources. Such developments are expected to intensify the competition in the market over the forecast period.

Vendor Offerings -

ABB Ltd. - The company offers IGBT which is available to the module, press-pack, and hybrid manufacturers in the range of 1200 to 6500 volts based on the now well-established SPT technology.

Danfoss AS - The company offers IGBT which is used for solutions in e-mobility, energy, and industrial applications.

Infineon Technologies AG - The company offers IGBT which is used for a wide range of applications such as railway applications and various power converters.

For Details on vendor and its offerings – Buy the report!

Global IGBT market - Segmentation Assessment

Geography Overview

By geography, the global IGBT market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and an accurate estimation of the contribution of all regions to the growth of the global IGBT market.

APAC will account for 50% of the market's growth during the forecast period. Factors such as rapid industrialization in developing countries and increasing adoption of renewable energy and EVs in China, India, and Japan, and the rising demand for energy-efficient solutions are driving the growth of the IGBT market in APAC.

Segment Overview

By product, the global IGBT market is segmented into IGBT modules and discrete IGBTs.

The market share growth of the IGBT modules segment will be higher than the other segments during the forecast period. The segment is driven by the increasing demand for high-power devices. Also, the increased adoption of energy-saving measures by governments across the globe is contributing to the growth of the segment.

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Global IGBT market – Market Dynamics

Leading Driver - The rising demand for energy-efficient electronic products is driving the growth of the market. Growing concerns over carbon emissions are compelling governments across the world to frame policies to ensure environmental safety by creating awareness programs and encouraging people to reduce energy consumption. To cater to the evolving market demands, electronics device manufacturers are focusing on the development of energy-efficient products. This has led to an increase in the demand for power electronic products such as IGBTs. They provide stable electric power to ensure higher efficiency, higher performance, and extended life of the device. Thus with the rising demand for energy-efficient products, the demand for IGBTs will increase during the forecast period.

Key Trend - Functional consolidation of semiconductor devices is the key trend in the market. The rise in the digitalization of electronic devices has increased the integration of semiconductor components, such as sensors, ICs, and microcontrollers with IGBT. This is done to enhance the performance in semiconductor devices, including IGBTs. The integration provides a lot of insights in the form of data, which can be analyzed to detect potential key areas for improvements in applications as well as in semiconductor devices. This improves the efficiency and reliability of the entire circuit and this combination of technologies ensure a smooth flow of operations. This trend will positively influence the growth of the market during the forecast period.

Major Challenge - Rising competition from wide bandgap (WBG) semiconductor materials is the major challenge in the market. WBG semiconductors are considered more efficient than the existing silicon devices due to their higher temperature operating capabilities. They do not require outer cooling and can switch frequencies with lesser noise. Also, the materials used in WBG semiconductors such as silicon carbide (SiC) and gallium nitride (GaN) significantly improve energy efficiency and will reduce system costs, which cannot be attained while using silicon-based IGBT devices. Such benefits are expected to replace IGBTs with WBG semiconductors, thereby negatively impacting the market growth.

Driver, Trend, & Challenges are the factor of market dynamics that state about consequences & sustainability of businesses, find a few insights from a sample report!

What are the Key Data Covered in this IGBT Market Report?

CAGR of the market during the forecast period.

Detailed information on factors that will drive the growth of the market between 2023 and 2027

Precise estimation of the size of the IGBT market and its contribution to the parent market.

Accurate predictions about upcoming trends and changes in consumer behavior.

Growth of the industry across North America, Europe, APAC, South America, and the Middle East and Africa.

A thorough analysis of the market's competitive landscape and detailed information about vendors.

Comprehensive analysis of factors that will challenge the growth of IGBT market vendors.

Related Reports:

The compound semiconductor market is estimated to grow at a CAGR of 6.79% between 2022 and 2027. The size of the market is forecast to increase by USD 15,951.15 million. The increasing demand for enhanced power density is notably driving the market growth, although factors such as manufacturing complexities of compound semiconductors may impede the market growth.

The BCD power IC market is estimated to grow at a CAGR of 5.48% between 2022 and 2027. The size of the market is forecast to increase by USD 11,032.12 million. The growth in smart home and smart grid technology is notably driving the market growth, although factors such as power performance challenges in mobile computing may impede the market growth.

IGBT Market Scope

Report Coverage

Details

Page number

177

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 12.3%

Market growth 2023-2027

USD 7292.66 million

Market structure

Fragmented

YoY growth 2022-2023(%)

12.07

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 50%

Key countries

US, China, Japan, South Korea, and India

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

ABB Ltd., Danfoss AS, Hitachi Ltd., Infineon Technologies AG, Jilin Sino Microelectronics Co. Ltd., Littelfuse Inc., MagnaChip Semiconductor Corp., Mitsubishi Electric Corp., Sanken Electric Co Ltd, SEMIKRON Elektronik GmbH and Co. KG, STARPOWER SEMICONDUCTOR Ltd, STMicroelectronics NV, Toshiba Corp., Fuji Electric Co. Ltd., IXYS Corp, Microchip Technology Inc., NXP Semiconductors NV, ON Semiconductor Corp, Renesas Electronics Corp., and ROHM Co. Ltd.

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global IGBT market 2017 - 2021

4.2 Product Segment Analysis 2017 - 2021

4.3 Application Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Product

6.1 Market segments

6.2 Comparison by Product

6.3 IGBT modules - Market size and forecast 2022-2027

6.4 Discrete IGBTs - Market size and forecast 2022-2027

6.5 Market opportunity by Product

7 Market Segmentation by Application

7.1 Market segments

7.2 Comparison by Application

7.3 EV or HEVs - Market size and forecast 2022-2027

7.4 Industrial - Market size and forecast 2022-2027

7.5 Motor drives - Market size and forecast 2022-2027

7.6 Consumer appliance - Market size and forecast 2022-2027

7.7 Others - Market size and forecast 2022-2027

7.8 Market opportunity by Application

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 Europe - Market size and forecast 2022-2027

9.5 North America - Market size and forecast 2022-2027

9.6 South America - Market size and forecast 2022-2027

9.7 Middle East and Africa - Market size and forecast 2022-2027

9.8 China - Market size and forecast 2022-2027

9.9 Japan - Market size and forecast 2022-2027

9.10 US - Market size and forecast 2022-2027

9.11 South Korea - Market size and forecast 2022-2027

9.12 India - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 ABB Ltd.

12.4 Danfoss AS

12.5 Fuji Electric Co. Ltd.

12.6 Hitachi Ltd.

12.7 Infineon Technologies AG

12.8 Jilin Sino Microelectronics Co. Ltd.

12.9 Littelfuse Inc.

12.10 MagnaChip Semiconductor Corp.

12.11 Microchip Technology Inc.

12.12 Mitsubishi Electric Corp.

12.13 ON Semiconductor Corp

12.14 Renesas Electronics Corp.

12.15 SEMIKRON Elektronik GmbH and Co. KG

12.16 STMicroelectronics NV

12.17 Toshiba Corp.

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com/

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SOURCE Technavio