February 10, 2022 08:28 ET | Source: Research and Markets Research and Markets

Dublin, Feb. 10, 2022 (GLOBE NEWSWIRE) -- The "Insulated-Gate Bipolar Transistors (IGBT) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. Global Insulated-Gate Bipolar Transistors (IGBT) Market to Reach US$8.6 Billion by the Year 2026

The global market for Insulated-Gate Bipolar Transistors (IGBT) estimated at US$5.6 Billion in the year 2020, is projected to reach a revised size of US$8.6 Billion by 2026, growing at a CAGR of 7.8% over the analysis period.

Growth in the global market is driven primarily by the growing demand for IGBT from various applications, including medical devices, consumer electronics, industrial systems, electric vehicles, UPS, inverters, and motor drives. IGBTs are witnessing rapid adoption across a wide range of industries owing to their capability in offering higher reliability and reduced switching losses as compared to power MOSFETs.

Key players operating the market are increasingly focusing on and investing on optimization of IGBT chips and modules with the aim of reducing power consumption, and improving thermal resistivity, chip density, and efficiency, which is likely to further boost market growth in the coming years.

In electric and hybrid electric vehicles, IGBTs are increasingly replacing MOSFETs due to their cost-effectiveness in high-current applications, such as DC-AC and DC-DC conversion, power factor correction, and onboard charging. The increase in the production and sale of electric and hybrid electric vehicles globally is expected to augment the market growth in the near future. In addition, IGBTs are being widely adopted in high-scale renewable projects, such as solar photovoltaic installations and wind turbines. Module, one of the segments analyzed in the report, is projected to grow at a 7.4% CAGR to reach US$6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Discrete segment is readjusted to a revised 8.7% CAGR for the next 7-year period.

This segment currently accounts for a 34.9% share of the global Insulated-Gate Bipolar Transistors (IGBT) market. IGBT module holds the largest share of the market, owing to their capability in delivering enhanced ease-of-control and efficiency at high voltages. Growth in the Discrete segment is driven by growing demand for consumer electronics that utilize IGBTs for lower current applications. The U.S. Market is Estimated at $1.5 Billion in 2021, While China is Forecast to Reach $1.3 Billion by 2026

The Insulated-Gate Bipolar Transistors (IGBT) market in the U.S. is estimated at US$1.5 Billion in the year 2021. The country currently accounts for a 25.43% share in the global market.

China, the world's second largest economy, is forecast to reach an estimated market size of US$1.3 Billion in the year 2026 trailing a CAGR of 8.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.1% and 6.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.1% CAGR while Rest of European market (as defined in the study) will reach US$173.5 Million by the end of the analysis period.

Growth in the Asia-Pacific IGBT market is primarily driven by the growing production of EVs. Various regional startups are focusing on launching new technologies with the aim of enhancing the performance of EV batteries and focusing on the charging solutions, which in turn is propelling market growth in the region.

North America, the second largest region, exhibits significant demand growth of IGBT on back of a rapid growth in EV/HEV and renewable energy markets. Key Topics Covered: I. METHODOLOGY II. EXECUTIVE SUMMARY 1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS (Total 47 Featured)

4. GLOBAL MARKET PERSPECTIVE III. REGIONAL MARKET ANALYSIS IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/s9khwu