Global Insulated-Gate Bipolar Transistor (IGBT) Market - Segmented by Type (Discrete IGBT, Modular IGBT), Power Rating (High-power, Medium-power, Low-power), End-user Industry (EV/HEV, Renewables, UPS, Rail, Motor Drives, Industrial, Commercial), and Region - Growth, Trends, and Forecast (2018 - 2023)
The global Insulated-Gate Bipolar Transistor (IGBT) market was valued at USD 4.50 billion in 2017, and is expected to reach USD 7.80 billion by 2023, at a CAGR of 9.62%, during the forecast period (2018 - 2023). The scope of the report covers various segments including by Type such as discrete IGBT and modular IGBT, by power rating, such as high-power, medium-power, and low power. The end-user industries are limited to EV/HEV, renewables, ups, rail, motor drives, industrial, and commercial. While the regions considered in the scope of the report include North America, Europe, Asia pacific, Middle East & Africa, and Latin America.
Increasing Investments in Off-Wind Farms
Around the world, countries are fostering renewable energy sources. Power semiconductors play a major role in the energy production via these sources. Governments are including renewable energy as a major part of their long-term investments and strategies for development. Technological improvements and growing effect of economies of scale have dropped the costs of renewable sources, like solar and wind energy, by more than 50%. The implementation of renewable electricity sources is inducing market opportunities for IGBT, particularly in offshore wind turbines. With the increasing number of wind farms, worldwide, along with high investments from the governments, the IGBT market is expected to grow multi-fold. The need of these turbines, to operate in harsh environments that are exposed to salt, humidity etc., and at the same time, deliver maximum efficiency to grid stability, is expected to drive innovations in the manufacturing of IGBTs. The dominant players in the IGBT market, such as, Infineon Technologies and ABB, are designing IGBT products, specifically, for renewable energy sources, seeing the potential opportunity in the market.
Modular IGBT Holds the Major Market Share
IGBT modules enable the integration of a wide variety of functions, such as digital, analog, and power technologies, together, in a flexible, mixed signal chipset to simplify control designs and make the existing systems cost-effective and energy-efficient. These modules are widely used in electrically powered rail vehicles. Trains use IGBT modules for efficient and rapid electrical drive control. Many new emerging technologies, such as, the growth of electric cars and hybrid vehicles, also use IGBT modules, since a higher level of reliability is required for the use in electric vehicles (EV) and hybrid electric vehicles than the typical industrial purposes. The reliability of IGBT modules as compared to other systems is the primary factor having a major influence on the growth of the market.
High Power Hold the Major Market Share
IGBTs have very high current-handling capabilities owing to the presence of Bi junction transistor in its construction, in the order of hundreds of amperes, with blocking voltages of 6500 V. These IGBTs can control loads of hundreds of kilowatts useful in many industrial applications. IGBTs are particularly useful for lesser duty cycles, low frequencies, high voltages and load variations, which enable their use in locomotive trains, electric vehicles (EV). Growth of renewable energy segments, such as solar and wind leads to the demand for high-power IGBTs. Motors used in wind turbines are of variable speed type, and require the use of high-power IGBT for efficiency. With growth in infrastructure activities in developing countries, the demand for high-voltage machinery is expected to grow, driving the demand for high-power IGBT in the market.
EV/HEV Has a Major Market Share
IGBT applications in Electric Vehicle (EV) and Hybrid Electric Vehicle (HEV) include their usage in powertrains and in chargers for delivery and control of power to motors. EV/HEV sales are projected to grow with a robust rate of around 35% and battery-manufacturing capacity is expected to triple by the end of forecast period due to strengthening CO2 regulations. IGBT market for EV/HEV is expected to triple during the forecast period occupying more than 50% share of the total market.
Key Developments in the Market