Insulated-Gate Bipolar Transistors (IGBT) Market Report and Forecast 2025-2034

The global insulated-gate bipolar transistors (IGBT) market attained USD 7.31 Billion in 2024 . The global IGBT market is expected to grow at a CAGR of 8.00% in the forecast period of 2025-2034 to attain USD 15.78 Billion by 2034 .

Increase in Electric Vehicles to Aid the Market for Insulated-Gate Bipolar Transistors (IGBT)

Region-wise, the Asia Pacific is driving the market for IGBT at the fastest rate, driven by their growth in China. The increase in production of electric vehicles (EVs) allied with massive manufacturing capabilities is driving the demand for the IGBT market. IGBTs are an integral part of electric vehicles. Rise in sales of electric vehicles in Europe, North America and the Asia Pacific is creating new opportunities for the market of insulated-gate bipolar transistors (IGBT) to expand. Due to carbon emission regulation, a shift toward electric vehicles is the major driver of this market. Rising demand for hybrid vehicles is also driving this market currently and is projected to do so in the forecast period as well.

Insulated-Gate Bipolar Transistors (IGBT): Market Segmentation

IGBT is a power semiconductor that is used as an electronic switch device. It is also known as a minority carrier device that enables faster switching and offers greater efficiency. It is a cost-effective solution designed to substitute MOSFET, which is compatible with higher voltage and current. It helps in energy conservation in electric devices, such as consumer electronics and electric vehicles.

Market Breakup by Type

• Discrete
• Module

Market Breakup by Power Rating

• High Power
• Medium Power
• Low Power

Market Breakup by Application

• Electric Vehicle
• Inverter and UPS
• Railways
• Renewable Energy
• Consumer Electronics
• Industrial Manufacturing

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Shift to Hybrid Vehicles and Smart Grids to Drive the Insulated-Gate Bipolar Transistors (IGBT) Industry

Increasing concerns over carbon emissions and depleting natural resources have led countries all over the world to invest in and increase the manufacturing of hybrid and electric vehicles. Since IGBTs are an integral component of these, hence the market is driven by the rise of electric vehicles. IGBTs are used for flexible and better control at high voltage. The shift towards smart grids is also driving the market for IGBTs. Based on power rating, the high voltage segment is expected to lead the market during the forecast period, while the discrete segment is expected to rise in terms of type. This is expected to aid the market growth.

Key Industry Players in the Global Insulated-Gate Bipolar Transistors (IGBT) Market

The report gives a detailed analysis of the following key players in the global insulated-gate bipolar transistors (IGBT) market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Infineon Technologies AG
• ROHM Co., Ltd
• Fuji Electric Co., Ltd
• Renesas Electronics Corporation
• Toshiba Electronic Devices & Storage Corporation
• Hitachi Power Semiconductor Device, Ltd.
• STMicroelectronics International N.V.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
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