IGBT-Based Power Semiconductor Market: CAGR of 17.6% by 2026Download Sample Reports Overview
IGBT-Based Power Semiconductor Market Forecast Summary:
According to a study conducted by Research Dive, the global insulated-Gate Bipolar Transistor(IGBT)-Based Power Semiconductor market forecast size is expected to reach$20,103.1million by the end of 2026, registering a 17.6% CAGR over the forecast period.
The rise in the usage of renewable energy such as hydro, solar, and tidal energies due to the deteriorating climatic conditions and increasing technological advancements in the developed and developing economies globally are expected to boost the global IGBT market. IGBTsare widely used in high and medium-power applications such as switched-mode power supplies, induction heating and traction motor control. IGBT modules basically consist of multiple devices in parallel and have the capability to handle high current competencies and hundreds of amperes along withblocking the voltages upto 6500 V.
Moreover, the increasing prices, the rising demand for integrated circuits(ICs), and the capability that the integrated circuits have to replace power semiconductors are expected to hinder the IGBT-Based power semicondutors market in the near future.
The global IGBT-Based Power Semiconductor market is analyzed on the basis of type into discrete, module and power IC’s. Among these, the modules market segmentis expected to drive the IGBT-Based Power Semiconductors market growth accounting for $7,938.1 million by 2026, growing at CAGR of 18.4% during the forecasted period. This dominance is mainly attributed to the rising electronic components market in the automobile industry, and the growing demand for portable electronic products and telecommunication sectors are some of the key factors driving the IGBT-Based Power Semiconductors Market.
On the basis of application, the global IGBT-based power semiconductors market is categorized into consumer electronics, industrial technology, energy sector, aerospace, automotive and others. Among these, the market for consumer electronics held the largest market share in 2018 valued for $1,517.1 million. Industrial technology is expected to dominate the IGBT-Based Power Semiconductors Market during the forecasted period due to the, integration of IGBTs in various industries to control high voltage current is boosting the market growth. The automotive end-use industry is one of the key potential areas for rectifiers, TVs,MOSFETs, Zener diodesand switching Schottky, optoelectronics and ESD protection. IGBTs are widely used in ignition coil driver circuits.
The global IGBT-Based Power Semiconductor market has been classified regionally into North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific regionheld the largest market value in 2018 accounting
for $1,868.5 million and is anticipated to reach $6,654.1 million by 2026, growing at a CAGR of 17.2% during the forecast period. Asia-Pacific region is anticipatedto continue its dominance during the projected time frame; this dominance is majorly due to swift growth in the demandfor consumer electronics and growing concentration over renewable energy resources in this region. The market for Europe region is anticipated to grow at a swift rate during the projected time frame. Europe market is predicted to reach $1,247.4 million by 2026, growing at a CAGR of 18.4%.
Top gaining participants of global IGBT-Based Power Semiconductor market are Mitsubishi, Fuji Electric,Infineon Technologies, ON Semiconductors, Semikron, Texas Instruments Incorporated, Fairchild Semiconductors, STMicroelectronics, Toshiba and IXYS among many others. These key participants are concentrating on product improvements, mergers & acquisitions, collaborations and new product launches to gain majority of the market share in the overall IGBT-Based Power Semiconductor industry.
Porter’s Five Forces Analysis for Content Marketing Market:
1. Bargaining Power of Suppliers: Many key players present in this market are catering to the demand of IGBT-based semicondustors due to which the supplier’s power is high
The bargaining power of suppliers is High.
2. Bargaining Power of Consumers:The number of consumers is very high.
The bargaining power of consumers is High.
3. Threat of new entrants:
The rising demand from the developing nations
Lack of geographical presence of the key players in the developing and underdeveloped nations
The intial investment to start a semiconductors company is moderate
The threat of new entrants is Medium.
4. Threat of substitutes:
The only alternative for IGBT can be MOSFET but the inefficiency to handle huge kilowatts is the key restraint for MOSFET; thus, there is no substitute for IGBT.
The threat of substitutes is High.
5. Competitive rivalry in the industry:
This market includes a fewmarket participants. Many of the key players are following similar strategies for the improvement of technologies.
The competitive rivalry in the industry is high.