Global IGBT
Market Report
2025
IGBT Market size will be USD 8124.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 12.10% from 2024 to 2031.
The base year for the calculation is 2024 and 2021 to 2024 will be historical period. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global IGBT Market size will be USD 8124.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 12.10% from 2024 to 2031.
2019 | 2024 | 2025 | 2032 | 2033 | CAGR | |
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Global IGBT Market Sales Revenue | 121212 | $ 8124.2 Million | 121212 | 121212 | 121212 | 12.1% |
North America IGBT Market Sales Revenue | 121212 | $ 3249.68 Million | 121212 | 121212 | 121212 | 10.3% |
Europe IGBT Market Sales Revenue | 121212 | $ 2437.26 Million | 121212 | 121212 | 121212 | 10.6% |
Asia Pacific IGBT Market Sales Revenue | 121212 | $ 1868.57 Million | 121212 | 121212 | 121212 | 14.1% |
South America IGBT Market Sales Revenue | 121212 | $ 406.21 Million | 121212 | 121212 | 121212 | 11.5% |
Middle East and Africa IGBT Market Sales Revenue | 121212 | $ 162.5 Million | 121212 | 121212 | 121212 | 11.3% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Type |
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Market Split by Power Rating |
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Market Split by Form |
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Market Split by Application |
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Market Split by Sales Channel |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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IGBT Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
IGBT is a type of power semiconductor that is used as an electronic switch device. It is also known as a minority carrier device that enables a faster switching rate and offers greater efficiency. It is a cost-effective solution to replace the Metal Oxide Semiconductor Field-Effect Transistor (MOSFET), which is compatible with higher voltage and current. It enables power management to enhance energy conservation in various applications such as industrial systems, consumer electronics, and electric vehicles.
Increasing demand for electric vehicles and aggrandized need for high voltage operating devices have led to higher adoption of IGBT in energy & power, automotive, consumer electronics, and industries. Therefore, the world IGBT market is expected to witness moderate growth in the near future, owing to high-speed switching rate and optimized power loss. The increasing focus and increasing investment in research & development on insulated gate bipolar transistor chips and module optimization to control power consumption, thermal resistivity, and efficiency are expected to boost the growth of the insulated gate bipolar transistor market.
For instance, EV volumes estimated that 10.5 million new BEVs and PHEVs were to be delivered in 2022, an increase of +55% from2021.
The main factor driving the growth of the insulated gate bipolar transistor market is the increasing demand for electric vehicles due to increased awareness about their lower emissions, better fuel efficiency, and other advantages. IGBTs are an essential component of electronic vehicles, and their adoption is driving the growth of the insulated gate bipolar transistor (IGBT) market. Insulated gate bipolar transistors are a highly efficient component of electronic vehicles due to their fast switching characteristics, leading to less power usage and increased mileage. Thus, the demand for insulated gate bipolar transistors is high owing to the increased production of electronic vehicles.
Renewable energy is becoming increasingly popular due to its lower cost and lower emissions compared to conventional energy sources. Insulated gate bipolar transistors (IGBT) are used in renewable energy applications such as solar and wind power, and their increasing adoption is expected to drive the growth of the market. With increasing industrialization and electrification, there is a significant rise in demand for electricity and efficient power transmission & distribution witnesses across the globe. Thus the government in many countries is focusing on renewable energy sources and developing smart grids.
Latch-ups associated with the gate control of an insulated gate bipolar transistor can easily break, causing the device to fail. A slight decrease in the latching current density causes an increase in the ambient temperature and increases the turnoff time. As the transistor enters the latch-up, the gate no longer has any control over the drain current. The forced commutation of the current can be the only way to turn off the IGBT in this situation. If latch-up is not terminated quickly, the excessive power dissipation is likely to destroy the bipolar transistor. This is expected to hamper the market potential.
The outbreak of COVID-19 across the globe significantly disrupted the supply chain and production of the market studied in the initial phase of the pandemic. Many end-user industries of the market were also affected due to the pandemic, which negatively impacted the market. However, with many COVID-19-related restrictions easing in the following year, the demand for many products incorporating IGBTs picked up, thereby positively influencing the market.
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Major market players are spending a lot of money on R&D to increase their product lines, which will help the IGBT market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations.
For instance, a recent report from the International Energy Agency projects that by 2030, 125 million electric cars will be on the road worldwide because of favorable policies and falling prices. As a result of these developments, IGBTs will be in demand to meet the needs of EVs.
For instance, In April 2022, DENSO Corporation, a mobility supplier, and United Semiconductor Japan Co., Ltd. ("USJC"), a subsidiary of global semiconductor foundry United Microelectronics Corporation, announced that the companies had agreed to collaborate on the production of power semiconductors at USJC's 300 mm fab in order to serve the growing demand in the automotive market.
Source:https://www.denso.com/global/en/news/newsroom/2022/20220426-g01/
Top Companies Market Share in IGBT Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. The region's emphasis on renewable energy sources, such as wind and solar power, has significantly contributed to the adoption of IGBT technology in power electronics applications. Key sectors, including automotive, industrial manufacturing, and consumer electronics, are witnessing a surge in IGBT utilization due to its high efficiency and voltage control capabilities.
European countries are investing in smart grid solutions, further boosting the demand for IGBTs in power electronics. Additionally, advancements in technology and collaborations between key market players and research institutions are fostering innovation. The European IGBT market is poised for continued expansion, driven by the region's dedication to sustainability and the adoption of cutting-edge technologies in diverse industrial applications.
The current report Scope analyzes IGBT Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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According to Cognitive Market Research, the global IGBT Market size was estimated at USD 8124.2 Million, out of which North America is the major market with more than 40% of the global revenue with a market size of USD 3249.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.3% from 2024 to 2031.The region's commitment to renewable energy sources, electric vehicles, and industrial automation has propelled the adoption of IGBT technology. The NPT-IGBT segment's growth is attributed to its ability to strike a balance between performance and cost-effectiveness, catering to diverse industries that require efficient power management solutions. In conclusion, the North American IGBT market is poised for sustained growth as the region continues to prioritize energy efficiency and sustainable practices. The convergence of factors such as the increasing adoption of electric vehicles, the push for renewable energy integration, and ongoing advancements in power electronics positions North America as a key player in shaping the future of the IGBT market.
Country Analysis
According to Cognitive Market Research, with a market value of USD 8124.2 million in 2024, it is projected to expand at a compound annual growth rate (CAGR) of 10.6% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 2437.26 million. The European Union's ambitious sustainability goals and investments in green technologies contribute significantly to the expansion of the IGBT market in the region. The High Power IGBT segment is witnessing significant adoption in megawatt-scale inverters for renewable energy projects, high-voltage direct current (HVDC) transmission systems, and electric propulsion systems for heavy-duty vehicles.In conclusion, the European IGBT market is poised for continued expansion as the region actively pursues energy efficiency and sustainability. The convergence of regulatory support, technological innovation, and a growing focus on clean energy solutions positions Europe as a key player in the global IGBT market.
According to Cognitive Market Research, the global IGBT Market size was estimated at USD 8124.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 1868.57 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.1% from 2024 to 2031. The automotive industry, particularly in countries like China and Japan, contributes significantly to the market with the adoption of electric vehicles and hybrid technologies. The Consumer IGBT segment is poised to continue its expansion in the dynamic landscape of power semiconductor devices for consumer applications. In conclusion, APAC remains a crucial contributor to the global IGBT market, offering significant opportunities for market players and fostering the evolution of power semiconductor technologies in the region.
According to Cognitive Market Research, the global IGBT Markets market size was estimated at USD 8124.2 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 406.21 million in 2024 and will grow at compound annual growth rate (CAGR) of 11.5% from 2024 to 2031. Latin America shows potential for expansion in the IGBT market. The industrial sector, including manufacturing and energy, plays a crucial role in driving the demand for IGBTs in the region. The Medium Power IGBT segment is expected to continue its growth trajectory, meeting the evolving needs of industries that require efficient and versatile power management solutions. In conclusion, Latin America presents a developing market for IGBTs, influenced by economic growth, industrialization, and a gradual shift toward sustainable energy practices. While facing unique challenges, the region's potential for infrastructure development and increased adoption of clean energy solutions could contribute to the continued growth of the IGBT market.
According to Cognitive Market Research, the global IGBT market size was estimated at USD 8125.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 162.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.3% from 2024 to 2031. MEA experiences an upswing in IGBT sales driven by burgeoning infrastructure development and industrialization initiatives. The rise of indirect distribution channels in the MEA region aligns with the flourishing IGBT market. This segment benefits from a diverse market landscape and the presence of numerous distributors and wholesalers. Indirect channels facilitate broader market reach and offer localized support and expertise to customers, further supporting the indirect distribution channels in this region.
According to Cognitive Market Research, the GCC Countries IGBT market size was valued at USD 69.55 million in 2024 and is projected to grow at a CAGR of 12.1% during the forecast period. IGBT sales flourish in the GCC Countries due to the region's infrastructure projects and industrialization efforts.
Global IGBT Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing IGBT Industry growth. IGBT market has been segmented with the help of its Type, Power Rating Form, and others. IGBT market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, the Through IGBTs offer lower conduction losses and improved switching efficiency, contributing to increased energy efficiency in various systems. This segment is gaining traction in applications where high power density and reliability are crucial, such as inverters for renewable energy systems and motor drives in electric vehicles.
The NPT-IGBT segment's growth is attributed to its ability to strike a balance between performance and cost-effectiveness, catering to diverse industries that require efficient power management solutions. As energy efficiency continues to be a focal point across various sectors, the demand for NPT-IGBTs is expected to rise. The technology's reliability and versatility contribute to its increasing adoption, positioning the NPT-IGBT segment as a key player in the dynamic landscape of power electronics and semiconductor devices.
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According to Cognitive Market Research, the high-power IGBT segment is witnessing significant adoption in megawatt-scale inverters for renewable energy projects, high-voltage direct current (HVDC) transmission systems, and electric propulsion systems for heavy-duty vehicles. The increasing emphasis on electrification and renewable energy integration worldwide further propels the demand for high-power IGBTs.
The High Power IGBT segment is witnessing significant adoption in megawatt-scale inverters for renewable energy projects, high-voltage direct current (HVDC) transmission systems, and electric propulsion systems for heavy-duty vehicles. The increasing emphasis on electrification and renewable energy integration worldwide further propels the demand for high-power IGBTs.
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According to Cognitive Market Research, the Discrete IGBT segment finds extensive use in motor drives, inverters, welding equipment, and power supplies. Discrete IGBTs enable precise control over power flow, making them integral in systems demanding efficient switching and voltage regulation—the market for Discrete IGBTs benefits from their widespread adoption in both consumer and industrial electronics.
Modular IGBTs provide the advantage of simplified design, improved reliability, and efficient thermal management. The segment is witnessing significant growth due to the increasing demand for modular and easily deployable solutions in various industries. As the trend toward modular and compact power systems continues, the Modular IGBT segment is expected to play a crucial role in meeting the evolving requirements of industries seeking flexible and scalable power electronics solutions for diverse applications.
According to Cognitive Market Research, the Consumer segment plays a vital role, driven by the growing demand for energy-efficient and high-performance power electronics in consumer electronic devices. IGBTs are integral components in various consumer applications, including air conditioners, refrigerators, washing machines, and power supplies for electronic gadgets. Their ability to handle moderate power levels with high efficiency makes them crucial for achieving energy savings in household appliances.
The Renewables segment benefits from IGBTs' ability to enhance the efficiency and reliability of power conversion in renewable energy systems. As the world continues to transition towards cleaner energy sources, the demand for IGBTs in the renewable segment is expected to rise.
According to Cognitive Market Research, Direct IGBTs are crucial for systems such as battery energy storage, uninterruptible power supplies (UPS), and electric traction. The segment's growth is driven by the increasing demand for efficient and reliable power management solutions in DC-centric applications. As industries adopt more DC-based technologies, including electric vehicles and renewable energy systems, the Direct IGBT market is poised for expansion.
The indirect segment includes, which contribute to advancements in energy efficiency, reliability, and performance in sectors such as automotive, industrial manufacturing, consumer electronics, and renewable energy. In automotive applications, they indirectly enhance the performance of electric vehicles by optimizing power conversion and control. In industrial manufacturing, IGBTs indirectly improve the efficiency of motor drives and automation systems. Consumer electronics benefit indirectly from the enhanced power management provided by IGBTs.
Senior Research Analyst at Cognitive Market Research
ResearchGate Profile: https://www.researchgate.net/profile/Kalyani-Raje
An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.
With a work experience of over 10+ years in the market research and strategy development. I have worked with diverse industries, including FMCG, IT, Telecom, Automotive, Electronics and many others. I also work closely with other departments such as sales, product development, and marketing to understand customer needs and preferences, and develop strategies to meet those needs.
I am committed to staying ahead in the rapidly evolving field of research and analysis. This involves regularly attending conferences, participating in webinars, and pursuing additional certifications to enhance my skill set. I played a crucial role in conducting market research and competitive analysis. I have a proven track record of distilling complex datasets into clear, concise reports that have guided key business initiatives. Collaborating closely with multidisciplinary teams, I contributed to the development of innovative solutions grounded in thorough research and analysis.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Punch Through IGBT, NPT-IGBT |
Power Rating | High Power, Medium Power, Low Power |
Form | Discrete IGBT, Modular IGBT |
Application | Automotive and EV/HEV, Consumer, Renewables, UPS, Rail, Industrial/Motor Drives, Other Applications |
Sales Channel | Direct, Indirect |
List of Competitors | Infineon Technologies AG, Renesas Electronics Corporation?, Texas Instruments Incorporated, Analog Devices Inc.?, Microchip Technology Inc. |
This chapter will help you gain GLOBAL Market Analysis of IGBT. Further deep in this chapter, you will be able to review Global IGBT Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of IGBT. Further deep in this chapter, you will be able to review North America IGBT Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of IGBT. Further deep in this chapter, you will be able to review Europe IGBT Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of IGBT. Further deep in this chapter, you will be able to review Asia Pacific IGBT Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of IGBT. Further deep in this chapter, you will be able to review South America IGBT Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East and Africa Market Analysis of IGBT. Further deep in this chapter, you will be able to review Middle East and Africa IGBT Market Split by various segments and Country Split.
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
This chapter provides an in-depth analysis of the market share among key competitors of IGBT. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2021 - 2033
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Chapter 11 Market Split by Power Rating Analysis 2021 - 2033
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Chapter 12 Market Split by Form Analysis 2021 - 2033
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Chapter 13 Market Split by Application Analysis 2021 - 2033
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Chapter 14 Market Split by Sales Channel Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global IGBT market
Chapter 15 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Punch Through IGBT have a significant impact on IGBT market? |
What are the key factors affecting the Punch Through IGBT and NPT-IGBT of IGBT Market? |
What is the CAGR/Growth Rate of High Power during the forecast period? |
By type, which segment accounted for largest share of the global IGBT Market? |
Which region is expected to dominate the global IGBT Market within the forecast period? |
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