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IGBT & Thyristor Market Overview
The IGBT & Thyristor
Market is forecast to reach $12.6 billion by 2027, growing at a CAGR of 7.7% in
the period 2022-2027. IGBT has been witnessing significant growth in automotive sector,
owing to adoption of electric vehicle. The reduction in the cost of
electric vehicle due to technological advancement in power semiconductor devices and the reduced battery price
has increased the demand for electric vehicle since 2016. The production of
electric vehicle is expected to increase rapidly during the forecast period.
The sales of Electric vehicles has grown from 540,000 in 2015 to 6.5 Million in
2021. To capitalize on this, key vendors are offering customized products
to gain benefit over local manufacturers. Major vendors are tapping into the new
application areas such as electric vehicle, drives, and others. Major players
such as ROHM and Renesas Electric Corporation are focusing on the introduction
of the new products. ROHM has recently introduced four new automotive-grade
1200V-rated IGBTs which are ideal for inverters used in electronic compressors,
and for switching circuits used in positive temperature coefficient (PTC)
heaters. Introduction of new automotive-grade series products by ROHM, that are
mainly used in inverters and other applications that help in increasing the
efficiency of the products and are anticipated to show a positive impact on
company’s revenue. The growing technological innovation in the IGBT & thyristor market such as
IGBT & Thyristor Market Report Coverage
The report: “IGBT & Thyristor Market – Forecast (2022-2027)”, by IndustryARC covers an
in-depth analysis of the following segments of the IGBT & Thyristor Market.
Key Takeaways
- Implementation of new policies such as credit score on manufacturing of the electric vehicles and new government regulations for the reduction of the CO2 is anticipated to increase the production of the electric vehicle which is set to increase the usage of IGBT which will impact the growth of IGBT market.
- The increasing focus and investments in R&D for new IGBT chip and module which helps in reducing the power consumption, and improve chip density, thermal resistivity and efficiency would further strengthen the position of IGBT market.
- APAC holds a major share of IGBT market. The growth of the market is this region is driven by the increasing number of startups which are focusing on introducing new technologies which will enhance the performance of the battery of the EVs is driving the IGBT market.
The automotive sector is
estimated to grow at a CAGR of 13% during the forecast period 2022-2027.
According to IEA’s 2021 data revealed that the new electric car sales has
witnessed an increase from 203 thousand units in 2013 to 6.5 Million in 2021
owing to which the IGBT market is growing at astonishing speed. EV adoption has
been increasing tremendously owing to government regulations for controlled
emission driving, along with economical features that EV offers compared to
diesel and petrol vehicles. Similarly, government in many countries are taking
several initiatives to promote electric vehicles. For instance, in 2021, Indian
government is preparing proposal to accelerate the use of electric vehicle
through subsidies. This includes the enablement of the Indian Government’s
plant to transition to 100% plug-in electric vehicles (EV) by 2030.
IGBT & Thyristor Market Segment Analysis - By Voltage
The 800-1200V segment
accounts for the largest share of the IGBT & Thyristor market at 34.2% in
2021. To target the largest IGBT market, all manufacturers offer 600V – 1,200V
components, with a new range of products being primarily focused on 800 to 1,000V.
Some manufacturers including Mitsubishi Electric, Toshiba and Hyundai are
looking for differentiation from competitors by offering IGBT devices with
“intermediary” nominal voltage levels focusing on the 1200 to 1800V range.
Thus, this segment is projected to witness signficiant growth during the
forecast period.
IGBT & Thyristor Market Segment Analysis - By Geography
APAC IGBT market is analyzed to witness the highest growth rate during 2022-2027 at 9.4%. The IGBT market in this region is mainly driven by the rising production of electric vehicles. In 2021, the production of the electric vehicle in this region has grown by 64% as compared to 2020. Governments in countries like India, China, and Japan are promoting electric vehicle through various programs. For instance, in 2019, China government is in plans to introduce a credit system, wherein automakers are required to earn credits on EV production, if they wish to manufacture conventional vehicle. The increasing production of the EVs in the country will increase the use of the IGBT and will have a positive impact on the market. Moreover, increasing number of startups developing new technologies to enhance the battery performance and focus on the charging solutions will augment the demand for IGBT in this region. Furthermore, the technological advancements happening in the consumer electronics where the use of IGBT is seen in different applications such as in inverters & UPS would boosts the IGBT market in this region. For instance, consumer electronics market in China is likely to witness a significant growth between 2022-2027. This growth is likely to bring new opportunity for IGBT market in the China.
IGBT & Thyristor Market Drivers
Increased production of
electric vehicles due to stringent emission norms and improved charging
infrastructure:
EU has recently announced
the implementation of new regulation (EU) 2019/631 which majorly focused on
reducing CO2 emission from vehicles. Implementation of this regulation is
anticipated to negatively impact the production of vehicles that run on fuel.
Considering this, the automotive manufactures are planning to increase the
production of EVs which will gradually increase the use of IGBTs. Similarly,
Increasing investments and initiatives of setting-up new charging centers by
the key players such as charge Point, Electrify America and Volkswagen are
significantly contributing towards the growth of the electric vehicles charging
station market. In 2019, Charge Point and Electrify America partnered with a
plan of investing $2 billion to set up 30,000 Level 2 and DC fast charging
stations in the U.S through 2023. In June 2019, Volkswagen planned to set-up
484 electric vehicle station with more than 2,000 charging dispensers across
U.S by 2021. According to Department of Energy (DOE), in U.S. the number of
electric car charging stations has been increased from 20,000 to 24,807 during
2019-2020 period which set to drive the IGBT & Thyristor market.
Introduction of new design
concept in IGBT:
Various vendors are now
focusing on introduction of new designs to enhance the performance of IGBT. The
new design concepts called filed stop and buried layer (BL) in IGBTs will help
in providing effective measures for reducing the switching loss in power applications.
The combination of these technologies in manufacturing process is anticipated
to further improve the performance of the IGBTs.
IGBT & Thyristor Market Challenges
Use of SiC MOSFETs in place
of IGBT in power switching applications:
As the demand for the solar
inverters is growing by about 25% per year through 2025, the manufacturers are
switching towards the use of the SiC MOSFET which is considered as an
alternative for IGBT. The use of SiC MOSFET in solar inverters is anticipated
to reduce the cost of the inverter and help in increasing the efficiency of the
inverters by 1%-2%. The increasing usage of SiC MOSFET will even help in
reducing the power loss by 75%. The manufactures of the SiC MOSFET are planning
to implement advanced technology in the manufacturing process which can help in
reducing the price of products.
IGBT & Thyristor Industry Outlook
IGBT market is highly
fragmented with the presence of large number of regional and global vendors.
The major players in the IGBT & Thyristor market are:
- Infineon
- Littelfuse
- Fuji Electric
- Renesas Electronics Corporation
- ROHM Co. Ltd.
- Danfoss
- Mitsubishi Electric
- SEMIKRON International GmbH
- Toshiba Corporation
- Hitachi, Ltd.
Recent Developments
- In November 2020, Fuji Electric Launched a 7th-Generation X Series IGBT Module that focuses on contributions to Energy Saving in Railway Transportation.
- In April 2020, Toshiba Launched Improved 1350V IGBT Device for Appliance Applications. Toshiba launches its new GT20N135SRA IGBT that features a reduction of around 10% and 20% when compared with conventional products.
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