Published on: May 2022
Uncover the international IGBT Module packages market growth
The global IGBT market is expected to increase at a CAGR of 4.6 percent from USD 5.3 billion in 2020 to USD 6.6 billion in 2025. The global thyristor market, on the other hand, is expected to rise at a CAGR of 1.7 percent from USD 781 million in 2020 to USD 849 million in 2025. Government initiatives in several nations to replace ageing power infrastructure and the usage of electric motors in industrial, commercial, and residual applications are key factors driving the growth of these industries.
In 2019, the IGBT module packaging type category held a significant market share
The increasing usage of electric and hybrid electric vehicles around the world is fueling the growth of the IGBT module packaging industry. IGBT modules are appropriate for high-power applications such as electric vehicles (EVs) and hybrid electric vehicles (HEVs). Germany, the United States, China, and Belgium have all made important contributions to worldwide EV/HEV sales. Furthermore, governments throughout the world are promoting the use of HVDC systems for long-distance power transmission, which is driving up demand for IGBT modules. During the forecasted period, these factors are predicted to fuel the segment's expansion.
In 2019, the medium power rating segment accounted for the greatest share of the IGBT market
In 2019, the medium power rating market accounted for the majority of worldwide IGBT market share. The capacity of medium-power IGBTs to handle the growing demands for high-voltage direct current (HVDC) systems, flexible alternative current transmission systems (FACTS), and electric and hybrid electric vehicles (EVs/HEVs) is credited for this increase. Increasing environmental concerns and government measures to minimise carbon emissions have boosted demand for electric vehicles (EVs) and hybrid electric vehicles (HEVs), resulting in increased demand for medium-power IGBTs.
During the projection period, the IGBT market for electric and hybrid electric cars is predicted to develop at the fastest rate
Due to rising demand for EVs/HEVs due to their energy efficiency, environmental friendliness, and affordability, the market for electric cars and hybrid electric vehicles is predicted to rise at the fastest CAGR during the forecast period. Furthermore, government measures in developing nations to reduce CO2 emissions are expected to boost demand for EVs and HEVs in the near future. The Indian government, for example, offers a USD 1.4 billion subsidy to boost the domestic electric car industry, which would give attractive growth possibilities for IGBT makers.
During the forecast period, the APAC IGBT market is predicted to develop at the fastest rate
China, Japan, South Korea, India, and the rest of APAC have all had their markets investigated. The APAC market's expansion can be attributed to the region's extensive manufacturing capabilities as well as its high wind and solar power generation capabilities. The presence of nations with large populations and strong manufacturing resources, such as China and India, has aided market expansion significantly. Furthermore, the EV/HEV market in countries like China, Japan, India, and South Korea is likely to fuel the APAC market. China accounts for the majority of EV/HEV sales, and nations such as India have granted incentives to help domestic EV/HEV manufacturers.
Key Players in the Market
A few major companies operating in the global IGBT & thyristor market include Infineon Technologies AG (Germany), Fuji Electric Co., Ltd. (Japan), ON Semiconductor (US), Mitsubishi Electric Corporation (Japan), STMicroelectronics (Switzerland), Renesas Electronics Corporation (Japan), Vishay Intertechnology (US), ABB Ltd (Switzerland), SEMIKRON (Germany), Hitachi, Ltd. To increase their market position, these organisations have used both organic and inorganic growth techniques such as product launches, partnerships, collaborations, contracts, agreements, acquisitions, and expansions.
The Industry Data Analytics Answers the Following Key Questions
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