Global IGBT and SiC Module Market Growth 2025-2031

The global IGBT and SiC Module market size is predicted to grow from US$ 11010 million in 2025 to US$ 31580 million in 2031; it is expected to grow at a CAGR of 19.2% from 2025 to 2031.

This report studies the IGBT modules and Silicon Carbide (SiC) Modules. An IGBT Power Module is a power semiconductor component used in power electronic devices in several industries as they have high-power efficiency, high blocking voltage, and ability to work in low power. An IGBT Power Module is formed by arranging several IGBTs in parallel in a single casing. Silicon carbide as a semiconductor has a wide band-gap, used in MOSFET it has very low switching losses and therefore allows higher switching frequencies compared to regular silicon devices. At the same time, it can be operated at higher temperatures and at higher voltages compared to traditional Si semiconductors. The use of SiC power semiconductors is expected to grow exponentially due to its crucial efficiency characteristics that enables cost reductions while at the same time improving system performance in a variety of applications such as EV chargers, solar inverters, e-mobility, and motor drives.

The global key players of IGBT Power Module include Infineon, Mitsubishi Electric (Vincotech), Fuji Electric, Semikron Danfoss, StarPower Semiconductor, BYD, and Zhuzhou CRRC Times Electric, etc. The global six biggest players hold a share of 77 %. The key players of SiC MOSFET modules are STMicroelectronics, Infineon, Wolfspeed, Rohm, Onsemi, BYD Semiconductor, Microchip (Microsemi), Mitsubishi Electric (Vincotech) and Semikron Danfoss, etc. The top three players hold a share over 70 percent in 2022.

Currently automotive is the largest application of IGBT modules and SiC modules. driven by demand from China, UAS, EU, and Japan. China is one of the world’s largest automotive markets, and its growth potential remains high. In particular, high rates of growth for electric-powered vehicles make China one of the largest markets for electromobility.

Global new energy vehicles continue to grow rapidly. In 2023, the total sales of new energy vehicles in the world reached 14.65 million, a simultaneous increase of 35.4%. Among them, China's new energy vehicle sales reached 9.495 million, accounting for 64.8% of global sales. The production and sales of new energy vehicles have ranked first in the world for eight consecutive years. In 2023, the sales of new energy vehicles in the United States and Europe were 2.94 million and 1.46 million respectively, with year-on-year growth rates of 18.3% and 48.0% respectively.

LP Information, Inc. (LPI) ' newest research report, the “IGBT and SiC Module Industry Forecast” looks at past sales and reviews total world IGBT and SiC Module sales in 2024, providing a comprehensive analysis by region and market sector of projected IGBT and SiC Module sales for 2025 through 2031. With IGBT and SiC Module sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world IGBT and SiC Module industry.

This Insight Report provides a comprehensive analysis of the global IGBT and SiC Module landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on IGBT and SiC Module portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global IGBT and SiC Module market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for IGBT and SiC Module and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global IGBT and SiC Module.

This report presents a comprehensive overview, market shares, and growth opportunities of IGBT and SiC Module market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
IGBT Modules
SiC Modules

Segmentation by Application:
Automotive & EV/HEV
Industrial Control
Consumer Appliances
Wind power, PV, Energy Storage
Rail Transport
UPS, Data Center & Server
Military & Avionics
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
STMicroelectronics
Infineon
Wolfspeed
Rohm
onsemi
BYD Semiconductor
Microchip (Microsemi)
Mitsubishi Electric (Vincotech)
Semikron Danfoss
Fuji Electric
Toshiba
Littelfuse
Denso
SanRex Corporation
Bosch
StarPower
Zhuzhou CRRC Times Electric
Hangzhou Silan Microelectronics
Guangdong AccoPower Semiconductor
United Nova Technology
Grecon Semiconductor (Shanghai)
GE Aerospace
MacMic Science & Technology
China Resources Microelectronics Limited
Yangzhou Yangjie Electronic Technology
CETC 55
BASiC Semiconductor
Hebei Sinopack Electronic Technology
InventChip Technology
ANHI Semiconductor
HAIMOSIC (SHANGHAI)
Shenzhen AST Science Technology
Wuxi Leapers Semiconductor
WeEn Semiconductors
SemiQ
EcoSemitek

Key Questions Addressed in this Report

What is the 10-year outlook for the global IGBT and SiC Module market?

What factors are driving IGBT and SiC Module market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do IGBT and SiC Module market opportunities vary by end market size?

How does IGBT and SiC Module break out by Type, by Application?

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