IGBT & Thyristor Market - Forecast(2024 - 2030)

Report Code: ESR 21739 Report Format: PDF + Excel

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 silicon controlled rectifier, variable frequency drives, metal oxide silicon field effect transistor and gate turn off Thyristor will drive the market growth.

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. 

By Type: IGBT, Thyristor
By Device Type: Discrete, Module
By Power Rating: High Power, Medium Power, Low Power
By Voltage: Upto 400V, 400-600V, 600-800V, 800-1200V, 1200-1800V, Above 1800V
By Capability: Turn Off Capability Included, Turn Off Capability Excluded, Bidirectional Control
By End-Use Industry: Consumer Electronics, Industrial Motor drives, Inverters & UPS, Automotive (Electric & Hybrid Vehicles), HVAC, Renewable Energy, Others
By Geography: North America (U.S, Canada, Mexico), South America (Brazil, Argentina, Chile, Colombia and Others), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC (China, Japan India, Australia and Others), and RoW (Middle East and Africa)

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.

IGBT & Thyristor Market, By Type, 2021 (%)

IGBT & Thyristor Market

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IGBT & Thyristor Market Segment Analysis - By Application

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:

  1. Infineon
  2. Littelfuse
  3. Fuji Electric
  4. Renesas Electronics Corporation
  5. ROHM Co. Ltd.
  6. Danfoss
  7. Mitsubishi Electric
  8. SEMIKRON International GmbH
  9. Toshiba Corporation
  10. 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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1. IGBT & Thyristor Market - Overview
        1.1 Definitions and Scope
2. IGBT & Thyristor Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. IGBT & Thyristor Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. IGBT & Thyristor Market - Startup companies Scenario Premium Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. IGBT & Thyristor Market - Industry Market Entry Scenario Premium Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. IGBT & Thyristor Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. IGBT & Thyristor Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. IGBT & Thyristor Market- By Device Type (Market Size -$Million / $Billion)
        8.1 IGBT
        8.2 Thyristor
9. IGBT & Thyristor Market- By Type (Market Size -$Million / $Billion)
        9.1 Discrete IGBT
        9.2 IGBT Module
10. IGBT & Thyristor Market- By Power Rating (Market Size -$Million / $Billion)
        10.1 Low Power IGBT
        10.2 Medium-Power IGBT
        10.3 High Power IGBT
11. IGBT & Thyristor Market- By Capability (Market Size -$Million / $Billion)
        11.1 Turn Off Capability Included
        11.2 Turn Off Capability Excluded
        11.3 Bidirectional Control
12. IGBT & Thyristor Market - By Voltage (Market Size -$Million / $Billion)
        12.1 Upto 400V
        12.2 400-600V
        12.3 600-800V
        12.4 800-1800V
        12.5 1800-1800V
        12.6 Above 1800V
13. IGBT & Thyristor - By Application (Market Size -$Million / $Billion)
        13.1 Consumer Electronics
        13.2 Industrial Motor Drives
        13.3 Inverters and UPS
        13.4 Automotive
        13.5 HVAC
        13.6 Renewable Energy
        13.7 Others
14. IGBT & Thyristor- By Geography (Market Size -$Million / $Billion)
        14.1 IGBT & Thyristor Market - North America Segment Research
        14.2 North America Market Research (Million / $Billion)
            14.2.1 Segment type Size and Market Size Analysis
            14.2.2 Revenue and Trends
            14.2.3 Application Revenue and Trends by type of Application
            14.2.4 Company Revenue and Product Analysis
            14.2.5 North America Product type and Application Market Size
                  14.2.5.1 U.S
                  14.2.5.2 Canada
                  14.2.5.3 Mexico
                  14.2.5.4 Rest of North America
        14.3 IGBT & Thyristor- South America Segment Research
        14.4 South America Market Research (Market Size -$Million / $Billion)
            14.4.1 Segment type Size and Market Size Analysis
            14.4.2 Revenue and Trends
            14.4.3 Application Revenue and Trends by type of Application
            14.4.4 Company Revenue and Product Analysis
            14.4.5 South America Product type and Application Market Size
                  14.4.5.1 Brazil
                  14.4.5.2 Venezuela
                  14.4.5.3 Argentina
                  14.4.5.4 Ecuador
                  14.4.5.5 Peru
                  14.4.5.6 Colombia
                  14.4.5.7 Costa Rica
                  14.4.5.8 Rest of South America
        14.5 IGBT & Thyristor- Europe Segment Research
        14.6 Europe Market Research (Market Size -$Million / $Billion)
            14.6.1 Segment type Size and Market Size Analysis
            14.6.2 Revenue and Trends
            14.6.3 Application Revenue and Trends by type of Application
            14.6.4 Company Revenue and Product Analysis
            14.6.5 Europe Segment Product type and Application Market Size
                  14.6.5.1 U.K
                  14.6.5.2 Germany
                  14.6.5.3 Italy
                  14.6.5.4 France
                  14.6.5.5 Netherlands
                  14.6.5.6 Belgium
                  14.6.5.7 Denmark
                  14.6.5.8 Spain
                  14.6.5.9 Rest of Europe
        14.7 IGBT & Thyristor - APAC Segment Research
        14.8 APAC Market Research (Market Size -$Million / $Billion)
            14.8.1 Segment type Size and Market Size Analysis
            14.8.2 Revenue and Trends
            14.8.3 Application Revenue and Trends by type of Application
            14.8.4 Company Revenue and Product Analysis
            14.8.5 APAC Segment - Product type and Application Market Size
                  14.8.5.1 China
                  14.8.5.2 Australia
                  14.8.5.3 Japan
                  14.8.5.4 South Korea
                  14.8.5.5 India
                  14.8.5.6 Taiwan
                  14.8.5.7 Malaysia
                  14.8.5.8 Hong kong
                  14.8.5.9 Rest of APAC
        14.9 IGBT & Thyristor - Middle East Segment and Africa Segment Research
        14.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            14.10.1 Segment type Size and Market Size Analysis
            14.10.2 Revenue and Trend Analysis
            14.10.3 Application Revenue and Trends by type of Application
            14.10.4 Company Revenue and Product Analysis
            14.10.5 Middle East Segment Product type and Application Market Size
                  14.10.5.1 Israel
                  14.10.5.2 Saudi Arabia
                  14.10.5.3 UAE
            14.10.6 Africa Segment Analysis
                  14.10.6.1 South Africa
                  14.10.6.2 Rest of Middle East & Africa
15. IGBT & Thyristor Market - Entropy
        15.1 New product launches
        15.2 M&A s, collaborations, JVs and partnerships
16. IGBT & Thyristor Market - Industry / Segment Competition landscape Premium Premium
        16.1 Market Share Analysis
            16.1.1 Market Share by Country- Top companies
            16.1.2 Market Share by Region- Top 10 companies
            16.1.3 Market Share by type of Application - Top 10 companies
            16.1.4 Market Share by type of Product / Product category- Top 10 companies
            16.1.5 Market Share at global level - Top 10 companies
            16.1.6 Best Practises for companies
17. IGBT & Thyristor Market - Key Company List by Country Premium Premium
18. IGBT & Thyristor Market Company Analysis
        18.1 Market Share, Company Revenue, Products, M&A, Developments
        18.2 ABB Ltd.
        18.3 Danfoss A/S
        18.4 Infineon Technologies AG
        18.5 Mitsubishi Electric Corp.
        18.6 Renesas Electronics Corp.
        18.7 Semikron International GmbH
        18.8 Toshiba Corp
        18.9 Company 9
        18.10 Company 10