Insulated Gate Bipolar Transistor Market Size to Breach $5 Billion in 2019

According to the recent business intelligence report by IndustryARC, the Global Insulated Gate Bipolar Transistor Market size was valued to be $4billion to $5billion in 2018, and it is projected to grow with a CAGR of nearly 8% during the forecast period of 2019 to 2025. IGBT finds its application in various end users industries such as consumer electronics, variables frequency drives (VFDs) industrial motor drives, inverters & UPS, automotive (electric & hybrid vehicles), HVAC, and air conditioners with switching amplifiers. The insulated gate bipolar transistor marketplace finds major application in the transportation sector and it is estimated to grow with a CAGR of more than an impressive 13% through to 2025.

Insulated gate bipolar transistor (IGBT) is a hybrid combination of two transistors, including high input impedance and switching speed of a field effect transistor (MOSFET) and, low saturation voltage of bipolar junction transistor (BJT). The need for developing a semiconductor switching device is because the power demands of the solid state device such as inverters, converters, and power suppliers are not fully met by other transistors. It offers greater power gain along with higher voltage operations and lower input losses.

Global Insulated Gate Bipolar Transistor Market: Growth Drivers

IGBT is gaining traction from the semiconductor market owing to its higher reliability, efficiency, thermal performance, and low power loss. IGBT is preferred for installations of green energy resources such as wind turbines. Increased demand for smart grids, power transmission, and infrastructure is the major key driver responsible for the IGBT market growth.

  • The Growing Production of Medical Devices Creating IGBT Market Revenue Avenue:

According to InvestIndia, India is the 4th largest market for medical devices in Asia with current market size valued to be $ 5.2 billion. Also, the market size is projected to reach $50 billion by 2025. Indian medical devices industry is growing at a CAGR of 15.8%, whereas Global medical devices industry CAGR is estimated at 4.1%. Furthermore, technological advancements in medical devices in Asian countries such as China and Taiwan will also grow with a positive CAGR.  So, the recent IGBT market research by IndustryARC analyst estimates that APAC is the leading region with market share of nearly 10% as of 2018.

  • The Sales of Electric Vehicles Attributes to the Increasing  Demand for IGBT

According to the International Energy Agency, the number of electric vehicles was 2 million in 2016. China is valued to be the largest electric car market accounting for more than 40% of electric cars sold worldwide in 2017. According to IEEE, cost reduction in the IGBT modules is the major factor for hybrid and electric vehicles to be affordable. Additionally, the increasing demand for fuel and energy efficiency power control unit is one of the main driving factors for the upsurge in the demand for IGBT in the automotive industry.

  • The Wind Energy Sector Bolstering the IGBT Demand

According to the World Wind Energy Association, wind turbines installation reached 539,291 Megawatt in 2017. Wind turbines installation covered the global electricity demand by more than 5% in 2017. The projected sustainable growth in the wind energy sector will be a big boon to the IGBT market.

Some of the major key players in the market are ABB, Infineon, Fuji Electric, Hitachi, Cree, On Semiconductor, STMicroelectronics, Mitsubishi, Toshiba, Ixys, Rohm Semiconductor, CRRC, Alpha and Omega Semiconductor, Dynex, and BYD. Due to propitious profitability in the market, the manufacturers are putting more efforts on research and development to continue with their upward graph in the market.

Conclusion

Insulated gate bipolar transistor is a hybrid combination of two transistors, including high input impedance and switching speed of a field effect transistor and, low saturation voltage of bipolar junction transistor. It offers greater power gain along with higher voltage operations. Major Key applications in the market are transportation, consumer electronics, and UPS. Increased demand for smart grids, power transmission, and infrastructure are also bolstering the IGBT market growth.

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