Pune, March 28, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global insulated gate bipolar transistor market is expected to grow from USD 7.2 billion in 2021 to USD 17.9 billion by 2030, at a CAGR of 10.7% during the forecast period 2022-2030.
The broad scope of applications contributes to the growth of the IGBT market. The increase in disposable income of the population and rising fuel prices have contributed to the increasing demand for electric and hybrid electric vehicles; this demand will drive the market for IGBTs.
Request a Sample Copy of the Research Report: https://www.thebrainyinsights.com/enquiry/sample-request/12687
IGBTs are used extensively in electric vehicles, allowing higher power transmission and reduced power dissipation. IGBTs are also utilized in high end home appliances which are high voltage, high current carrying devices. Increasing popularity to raise social & economic status by purchasing high end items will lead to an increase in significant demand of high-end home appliances, with this IGBTs will also experience a parallel rise in demand. IGBTs are not stable at high temperatures resulting in current leakage and breakage of its components. This development leads to overstress, and the device eventually fails. IGBTs are used in high voltage, high current devices, making the product expensive. Small market players in the developing economies cannot afford this, which results in the loss of potential market demand. New production innovations aimed at reducing production costs can help overcome such challenges and assist in market expansion. The depletion of non-renewable sources and increased emission have created an urgency to adopt renewable energy sources. To achieve maximum energy production from renewable sources, governments are launching initiatives that promote the establishment of renewable energy sources. The installation of smart power grids is also gaining traction in major economies as smart grids are reliable, allow better load adjustment capacity & flexible network topology, provide ease of control at high voltages, among other benefits. IGBTs find utilization in turbines, photovoltaic cells, and smart power grids, owing to which the IGBT market will witness significant growth. The insulated gate bipolar transistor is a semiconductor used in high voltage, high current appliances, or devices. The said appliances or devices can be microwaves, washing machines, refrigerators, dish-washers, UAVs, electric cars, hybrid electric vehicles, among other things.
For more information about this report visit: https://www.thebrainyinsights.com/report/insulated-gate-bipolar-transistor-market-12687
Electric vehicles, hybrid electric vehicles & high-end appliances are high voltage, high current carrying devices which make IGBT an ideal electronic device to be used in these to reduce power loss & save energy. Electric & hybrid electric vehicles will dominate the automotive market in the coming years as they are more fuel & energy efficient that helps in reducing emissions. Government subsidies & incentives provided for the production & consumption of electric & hybrid electric vehicles encourage fuel & energy-efficient technologies such as insulated gate bipolar transistors.
Key players operating in the global insulated gate bipolar transistor market are:
• Renesas Electronics Corporation
• Fuji Electric Co. Ltd.
• Semikron International GmbH
• Infineon Technologies AG
• ABB Ltd.
• Hitachi, Ltd.
• Toshiba Corporation
• Fujitsu Ltd.
• NXP Semiconductors N.V.
• ROHM Co. Ltd.
To enhance their market position in the global insulated gate bipolar transistor market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• Toshiba Corporation developed a new product, a compact insulated gate bipolar transistor model. This product was designed to reduce errors in the prediction of power loss. Toshiba reduced the margin of error by 90%, which is a considerable achievement that'll help in energy conservation.
Have Any Query? Ask Our Experts: https://www.thebrainyinsights.com/enquiry/buying-inquiry/12687
The module segment dominated the market with a market share of around 58% and a market value of about 4.17 billion in 2021.
The type segment is divided into discrete & module. The module segment dominated the market with a market share of around 58% and a market value of about 4.17 billion in 2021.
The automotive segment is expected to grow at the fastest CAGR of 13.6% over the forecast period.
The application segment is divided into automotive, commercial, industrial, renewables, railways, UPS & inverter & others. Over the forecast period, the automotive segment is expected to grow at the fastest CAGR of 13.6%.
The high voltage segment dominated the market, accounting for around 46% of global revenue and a market value of about 3.31 billion in 2021.
The power rating segment is divided into high voltage, medium voltage & low voltage. The high voltage segment dominated the market, accounting for around 46% of global revenue and a market value of about 3.31 billion in 2021. The dominance of this segment can be attributed to its ability to allow ease of control at high voltages. With the increase in demand for high current carrying devices, high voltage IGBTs have become the ideal component choice. It helps achieve a fast-switching rate and energy conservation in high voltage, high current appliances.
Regional Segment Analysis of the Insulated Gate Bipolar Transistor Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, & the Rest of Europe)
• Asia-Pacific (China, Japan, India, & the Rest of Asia Pacific)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of the Middle East and Africa)
Purchase this report (Price 4700 USD for a single-user license) at: https://www.thebrainyinsights.com/buy-now/12687/single
Among all regions, the Asia-Pacific region emerged as the largest market for the global insulated gate bipolar transistor market, with a market share of around 39.1% in 2021. The Asia Pacific is expected to be the largest market during the forecast period. China dominates the insulated gate bipolar transistor market in the Asia Pacific. The increasing demand for electric & hybrid electric vehicles in the developing economies, which is catered by these economies' equally rising production capacity, contributes to the growth of the insulated gate bipolar transistor market. China is the world's leading automobile manufacturer, intending to reduce carbon emissions by improving fuel and energy efficiency; the Chinese market is shifting towards the manufacture of electric & hybrid electric vehicles. Increasing infrastructure development is making India an ideal choice for automobile manufacturing. In addition to these, the favorable government policies for the manufacture of hybrid vehicles will help this region maintain its dominance in the global insulated gate bipolar transistor market during the forecast period. The shift towards renewable energy sources for power production and increased emphasis on installing smart power grids are also significant factors contributing to the IGBT market.
About the report:
The global insulated gate bipolar transistor market is analyzed based on value (USD Billion). All the segments have been analyzed globally, regional and country basis. The study includes the analysis of more than 30 countries for each piece. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
Access research repository of Research Reports at: https://www.thebrainyinsights.com
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: http://www.thebrainyinsights.com
