Insulated Gate Bipolar Transistor Market: By End-Use Industry (Consumer Electronics, Industrial Motor drives, Inverters & UPS, Automotive (Electric & Hybrid Vehicles), HVAC, Renewable Energy and Others) & Geography - Forecast(2019 - 2025)

Report Code : ESR 0151 Format Type: PDF+ Excel Database

Insulated Gate Bipolar Transistor Market Overview:

According to the International Energy Agency (IEA), 2017 saw a heavy investment of $15 billion in the off-shore wind sector with 32% generation growth, especially because of the expansion in China and Europe. Now, to meet the sustainable development system (SDS) target of the United Nations, the agency estimates the power generation to be 274 TWh by 2025 attributing to the growing demand for renewable resources[1].  Now, this growth of wind farms across the globe is a boon to the insulated gate bipolar transistor market which had a market size of $4 billion to $5 billion in 2018 according to IndustryARC’s market analyst. Furthermore, the analyst estimates insulated gate bipolar market growth to be nearly 8% in terms of CAGR during the forecast period of 2019 to 2025. 

As mentioned above, China is one of the leading countries in the wind farm sector which is also estimated to observe a significant growth in the same. Furthermore, other countries in the APAC region are moving towards the renewable sources of energy, and therefore, there is a tangible growth in the wind energy sector. Now, APAC is the leading manufacturer in consumer electronics too which utilizes IGBTs. This makes APAC lead the regional market with nearly 10% insulated gate bipolar transistor market share. 

Insulated Gate Bipolar Transistor Market Outlook:

An insulated gate bipolar transistor, constructed similar to Power MOSFET forming a vertical PNP bipolar junction transistor, is a three-terminal power semiconductor device which is generally used in variable frequency drives (VFDs), electric cars, and stereo systems with switching amplifiers in which it also features pulse retention rates. Some other applications of IGBT creating insulated gate bipolar transistor marketplace are motor drives, inverters, uninterruptible power supply (UPS), electric and hybrid electric vehicles (EV/HEV), industrial systems, consumer electronics, and medical devices. However, their major crunch of application is in transportation which will observe the CAGR more than a remarkable 13% during the forecast period of 2019 to 2025 according to the analyst. 


Insulated Gate Bipolar Transistor Market Growth Drivers:

  • The Envisioned Growth in Demand for Electric Vehicles –
The electric vehicles have already made a successful penetration in some parts of the US and Europe due to their eco-friendly and fuel-saving features. Now, according to the United Nations Industrial Development Organization, the price of the batteries used in electric vehicles are significantly coming down. In 2016, the cost was $273 per kilowatt hour which will be reduced to less than an easily affordable $100 in 2030[2].  This will propel the electric vehicle market which will subsequently stroke the insulated gate bipolar transistor market as IGBTs are utilized in electric vehicles.   

  • The Urgent Need for Uninterruptible Power Supply – 
The advancing process automation and the progressively growing cloud computing services is creating a demand for uninterruptible power supply which had a market value of $10.5 billion to $11 billion in 2018, and the demand of the same will grow at a CAGR of 3% to 5% through to 2025, according to IndustryARC’s market analyst. Now, uninterruptible power supply warrants heavy usage of ISGBs which will further flourish the insulated gate bipolar transistor market. 

  • The Industrial Growth and the Soaring Sales of Motor Drives – 
There is a tangible industrial growth across the globe in the last few years, and the United Nations have mentioned the need for more manufacturing units in order to provide the consumers with more affordable goods as one of the prime requirements under the SDS program. This is going to propel the demand for motor drives for production operations in the manufacturing units. Motor drives will need IGBTs which will help the vendors to generate the insulated gate bipolar transistor market revenue. 
 
Insulated Gate Bipolar Transistor Market

Insulated Gate Bipolar Transistor Market Challenges:

The major challenge in the insulated gate bipolar transistor market is the lack of stable characteristics of the devices in high-temperature situations. However, the vendors are constantly reinventing their technologies and striving to make products that can withstand high temperatures. 

The heavy investment is another factor bothering the emerging players, but the technological advancements in the power electronics sector are bringing new growth prospects in the market which will chiefly help them to reach the breakeven point sooner.

Insulated Gate Bipolar Transistor Market Key Players Perspective: 

The key players in the insulated gate bipolar transistor market are ABB, Infineon, Fuji Electric, Hitachi, Cree, On Semiconductor, STMicroelectronics, Mitsubishi, Toshiba, Ixys, Rohm Semiconductor, CRRC, Alpha, and Omega Semiconductor. 

Insulated Gate Bipolar Transistor Market Trends:

  • In August 2016, Littelfuse acquired ON Semiconductor Corporation’s transient voltage suppression (“TVS”) diodes, switching thyristors and insulated gate bipolar transistors segments for a sum of $104 million in order to expand its role in insulated gate bipolar transistor market.
  • Mergers and acquisitions in the insulated gate bipolar transistor market will provide technical reinforcement to the vendors and will help them overcome the challenges. 
  
Insulated Gate Bipolar Transistor Market Research Scope: 

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the insulated gate bipolar transistor market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of insulated gate bipolar transistor market, and their specific applications in the consumer electronics, industrial motor drives, inverters & ups, automotive (electric & hybrid vehicles), HVAC, renewable energy, and other sectors. 

Insulated gate bipolar transistor Market Report: Industry Coverage 

The insulated gate bipolar transistor market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:

  • North America: The U.S., Canada, Mexico
  • South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
  • Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
  • APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
  • Middle East and Africa: Israel, South Africa, Saudi Arabia

Reference:

https://www.iea.org/tcep/power/renewables/offshorewind/
https://www.unido.org/sites/default/files/files/2017-11/IDR2018_FULL%20REPORT.pdf

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