The global insulated gate bipolar transistor market size is expected to reach USD 11.24 billion by 2028, exhibiting a CAGR of 9.8% during the forecast period. The increasing demand for IGBT from high voltage applications such as motor drive inverters, solar inverters, uninterruptible power supplies (UPS), and others will boost the market growth. As per a report by Fortune Business Insights™ titled, “Insulated Gate Bipolar Transistor (IGBT) Market, 2021-2028.” the market size stood at USD 5.40 billion in 2020.

COVID-19 Impact:

The coronavirus epidemic had a major effect on the semiconductor industry. The global supply chain instability caused by the closing of international borders adversely affected the semiconductor chip demand. According to a survey by Accenture Plc, the semiconductor industry’s annual sales growth was expected to be 12.5 percent in 2020, but due to pandemic crises, it was only 9%. However, insulated gate bipolar transistor industry growth will likely be driven by an uptick in demand for cloud and data center services as a result of the rise in remote working during the COVID-19 Pandemic.

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The Report Lists the Main Companies in IGBT Market:

  • Infineon Technologies AG (Munich, Germany)
  • Danfoss Group (Nordborg, Denmark)
  • ROHM CO., LTD (Kyoto, Japan)
  • Hitachi, Ltd. (Tokyo, Japan)
  • ABB Ltd (Zürich, Switzerland)
  • Mitsubishi Electric Corporation (Tokyo, Japan)
  • Fuji Electric Co., Ltd. (Tokyo, Japan)
  • Toshiba Corporation (Tokyo, Japan)
  • LITTELFUSE, INC. (Illinois, United States)
  • StarPower Semiconductor Ltd. (Jiaxing, China)

What does the report include?

The market report presents a detailed analysis of the market, primarily focusing on growth trajectories such as drivers, restraints, challenges, and opportunities. It lists the segments of the market in detail and the names of market players as well.  The key industrial insights and major strategies adopted by players such as merger and acquisition, company collaborations, and others are also presented in the market, along with other insulated gate bipolar transistor market trends.

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Driving Factor:

Rising Demand from Automotive Industry to Promote Market Growth

The increasing demand for alternative current (AC) in driving engines these days is a major factor promoting the overall IGBT market growth in the forecast period. Additionally, the rise in popularity of electric vehicles and increasing investments are also expected to help accelerate the overall market size in the forthcoming years. Besides this, the surge in fuel prices is also increasing the demand for electric vehicles, creating lucrative growth opportunities from the automotive sector. It is further expected to help generate high IGBT module market revenue in the coming years.  Furthermore, the advancement in technology and the advent of artificial intelligence and the Internet of Things will further help augment the overall market growth in the coming years.

Regional Insights:

Rapid Adoption of Electric Vehicles to Aid Development in Asia Pacific

North America is expected to hold a significant insulated gate bipolar transistor market share. The increasing awareness about renewable resources and their implementation in various industries will aid expansion in the region. On the other hand, the Asia Pacific market is anticipated to emerge as the fastest-growing region on account of China’s rapid pace of electric vehicle adoption. This region held a revenue of  USD 2.37 billion in 2020. Additionally, government initiatives are also helping in the promotion of electric vehicles. This is further anticipated to help increase the regional market size in the coming years.

Key Industry Development

March 2021: Toshiba Corporation announced its plans to invest in enhancing its production capacity for power devices such as low-voltage metal-oxide-semiconductor field-effect transistors (MOSFETs) and insulated gate bipolar transistors.

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