IGBT & Thyristor Market Size, Share, Trends, & Industry Analysis Report By Packaging Type (IGBT Discrete and IGBT Module), By Power Rating, By Voltage, By Application, and By Region – Market Forecast, 2025–2034

The igbt and thyristors market size is expected to reach USD 8.96 Billion by 2034, according to a new study by Polaris Market Research. The report “IGBT & Thyristor Market Size, Share, Trends, & Industry Analysis Report By Packaging Type (IGBT Discrete and IGBT Module), By Power Rating, By Voltage, By Application, and By Region – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

IGBTs (Insulated Gate Bipolar Transistors) and thyristors are high-efficiency semiconductor devices designed to manage and switch electrical power in demanding environments. Used extensively in electric vehicles, industrial motor drives, power transmission systems, and renewable energy infrastructure, these components are critical for maintaining stable performance in high-voltage, high-current applications.

Growing reliance on electrified transport, decentralized power generation, and energy-efficient industrial equipment is driving the adoption of IGBTs and thyristors across global markets. Applications such as solar inverters, wind power converters, electric vehicle fast chargers, and HVDC systems increasingly rely on high-performance power semiconductor to ensure operational continuity, reduce energy waste, and enhance system reliability.

IGBT & Thyristor Market Report Highlights

In terms of packaging type, the IGBT module segment captured the largest market share in 2024, driven by increasing demand for compact, energy-efficient, and high-performance power electronics across diverse industries.

Based on application, the electric and hybrid electric vehicle (EV/HEV) segment is expected to register the fastest growth, fueled by accelerating global EV adoption, stringent emission norms, and government incentives for sustainable transportation.

Asia Pacific dominated the IGBT and thyristor market in 2024, owing to rapid industrialization, urban electrification initiatives, and robust policy backing for energy-efficient solutions.

North America is anticipated to exhibit strong CAGR growth, supported by advancements in electric mobility, renewable energy integration, and modernization of power infrastructure.

A few global key market players include Infineon Technologies AG, Fuji Electric Co., Ltd., ON Semiconductor (onsemi), Mitsubishi Electric Corporation, STMicroelectronics N.V., ABB Ltd., Hitachi, Ltd., Toshiba Corporation, Renesas Electronics Corporation, Semikron Danfoss, Dynex Semiconductor Ltd., and Littelfuse, Inc.

Polaris Market Research has segmented the market report on the basis of packaging type, power rating, voltage, application, and region:

By Packaging Type Outlook (Revenue, USD Billion, 2020–2034)

IGBT Discrete

IGBT Module

By Power Rating Outlook (Revenue, USD Billion, 2020–2034)

Low

Medium

High

By Voltage Outlook (Revenue, USD Billion, 2020–2034)
<400 V
600–650 V

1,200–1,700 V

2,500–3,300 V

>4,500 V

By Application Outlook (Revenue, USD Billion, 2020–2034)

Power Transmission Systems

Renewable Energy

Rail Traction Systems

Uninterrupted Power Supply

Electric Vehicles and Hybrid Electric Vehicles

Motor Drives

Consumer Electronics

Others

By Regional Outlook (Revenue, USD Billion, 2020–2034)

North America

US

Canada

Europe

Germany

France

UK

Italy

Spain

Netherlands

Russia

Rest of Europe

Asia Pacific

China

Japan

India

Malaysia

South Korea

Indonesia

Australia

Vietnam

Rest of Asia Pacific

Middle East & Africa

Saudi Arabia

UAE

Israel

South Africa

Rest of Middle East & Africa

Latin America

Mexico

Brazil

Argentina

Rest of Latin America Show more