IGBT & Thyristor Market Size, Share, Trends, Growth 2030

IGBT & Thyristor Industry Perspective:

The global IGBT & thyristor market size was evaluated at $11.5 Billion in 2022 and is slated to hit $15.5 Billion by the end of 2030 with a CAGR of nearly 10.1% between 2023 and 2030. The IGBT & thyristor market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global marketplace.

The IGBT & thyristor industry report covers the geographical market along with a comprehensive competitive landscape analysis. Additionally, the report explores the investor and stakeholder space to help companies make data-driven decisions.

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IGBT & Thyristor Market: Overview

Insulated gate bipolar transistors & thyristors are utilized in power electronics applications including inverters, controllers, and power supplies as they help in fulfilling the demand for solid-state switching devices. Humungous demand for power supply is increasing continuously owing to escalating population. Hence, insulated gate bipolar transistors & thyristors have been used in reducing switching losses and short switching times of MOSFET which help in fulfilling recent electricity demands. Furthermore, it makes use of conduction losses & high breakdown voltage in insulated gate bipolar transistors & thyristors in achieving demand for power supply. In addition to this, insulated gate bipolar transistors and thyristors facilitate low switching losses & thermal stress leading to an increment in the lifespan and reliability of electrical equipment. They are gaining popularity on account of various benefits offered such as high external thermal performance and efficiency.

Key Insights

• As per the analysis shared by our research analyst, the global IGBT & thyristor market is projected to expand annually at the annual growth rate of around 10.1% over the forecast timespan (2023-2030)
• In terms of revenue, the global IGBT & thyristor market size was evaluated at nearly $11.5 billion in 2022 and is expected to reach $15.5 billion by 2030.
• The global IGBT & thyristor market is anticipated to record massive growth over the forecast period owing to the launching of smart grids and new grid technology in the power sector.
• Based on packaging type, the IGBT module segment is predicted to contribute a majorly towards the market growth over the forecast timeline.
• In terms of application, the electric vehicles & hybrid electric vehicles segment to record the fastest CAGR over 2023-2030.
• On basis of power rating, the medium-power segment is projected to dominate the global market share during the assessment period.
• Region-wise, the European IGBT & Thyristor market is projected to register the highest CAGR during the assessment period.

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IGBT & Thyristor Market: Growth Factors

Surging demand for electricity with increasing population to boost the global market trends

The launching of smart grids and new grid technology in the power sector will boost the global IGBT & thyristor market trends. The rise in the population and humungous need for power supply is set to steer the expansion of the market in the upcoming years. Large-scale use of the product in power electronics applications such as controllers, power supplies, and inverters will steer the expansion of the market across the globe. The surge in the number of nuclear families leading to the need for strong infrastructure facilities will prop up the demand for IGBT & thyristors. Furthermore, IGBT and thyristors provide many benefits such as a low switching period of MOSFET and lesser switching losses, thereby leading to the huge demand for IGBT and thyristors.

The rise in offshore wind farms will proliferate the size of the IGBT & thyristor market in the ensuing years. Favorable government initiatives for HDVC deployments will propel the growth of the market across the globe. A slew of benefits offered by IGBT & thyristors including exceptional thermal performance will prompt market expansion across the globe.

IGBT & Thyristor Market: Hindrances

Low awareness of new technology across the globe can hinder the global industry surge

Lack of technological awareness and huge investments can impede the expansion of the IGBT & thyristor industry growth across the globe. Disruption in supply chain activities can halt the supply of raw components, thereby impeding business growth.

IGBT & Thyristor Market: Opportunities

Growing requirement for replacement of old electric infrastructure with new one to open new growth opportunities for the global market

De-carbonization of power systems can offer new growth avenues for the IGBT & thyristor market across the globe. The need for replacing aging power grid infrastructure and the use of electric motors in residential, industrial, and commercial applications will create new growth opportunities for the global market.

IGBT & Thyristor Market: Challenges

Surge in raw material components to pose a big challenge to the global industry

An increase in raw material costs and changing government policies towards the use of the IGBT & thyristors can put a big challenge to the growth of the IGBT & thyristor industry over the forecasting timeline. Lack of awareness about the benefits of using the product can further pose a bigger challenge for industry growth across the globe.

IGBT & Thyristor Market: Segmentation

The global IGBT & thyristor market is sectored into power rating, packaging type, voltage, application, and region.

In terms of packaging type, the global IGBT & thyristor market is divided into the IGBT discrete and IGBT module segments. Furthermore, the IGBT module segment, which contributed more than 70% of the global market share in 2022, is projected to account for the highest market share over 2023-2030. The segmental surge in the next eight years can be owing to the rise in acceptance of electric as well as hybrid vehicles in both emerging as well as developed economies. Furthermore, IGBT modules are suitable for high-power applications along with the focus of various governments on using HVAC tools for power transmission.

Based on the power rating, the global IGBT & thyristor industry is bifurcated into medium-power, low-power, and high-power segments. Furthermore, the medium-power segment, which contributed more than 26% of the global industry share in 2022, is slated to lead the segmental growth in the ensuing years. Additionally, the growth of the segment over 2023-2030 can be due to its ability to fulfill the needs of high-voltage direct current systems, electric vehicles, flexible alternate current transmission systems, and hybrid electric vehicles. Surging ecological concerns & favorable government initiatives will prompt the demand for a medium power rating.

On basis of the application, the global IGBT & thyristor market is divided into power transmission systems, renewable energy, rail traction systems, uninterrupted power supply, consumer electronics, electric vehicles & hybrid electric vehicles, and motor drives segments. The electric vehicles & hybrid electric vehicles segment is anticipated to record the fastest CAGR over the next eight years. The growth of the segment in the coming years can be due to rising demand for electric vehicles & hybrid electric vehicles owing to the need for reducing fuel emissions in the atmosphere along with the need for improving power conservation.

Based on voltage, the global IGBT & thyristor industry is divided into below 400V, 600V-650V, 1,200V-1,700V, 2,500V-3,300V, and >4,500V.

Recent Breakthroughs

• In the second half of 2019, a U.S.-based firm supplying semiconductors ON Semiconductor launched the VE-Tra series of power modules which is particularly devised for inverters with high-voltage automotive traction. The move will boost the expansion of the IGBT & thyristor industry across the globe.
• In the last quarter of 2019, STMicroelectronics N.V., a key Swiss firm in the semiconductor business, joined hands with Maxon Motor AG, a key provider of precision motors, for designing & developing robotics and industrial servo drivers. The initiative will enlarge the scope of the growth of the global market.

IGBT & Thyristor Market: Report Scope

IGBT & Thyristor Market: Regional Insights

Asia-Pacific IGBT & thyristor market to register a major revenue share over 2023-2030

The Asia-Pacific, which accounted for 50% of the global IGBT & thyristor market revenue share in 2022, is anticipated to dominate the regional market growth over the forecast timeframe. The regional market expansion can be credited to the growing need for proficient power transmission systems for fulfilling the escalating demand for power supply in the sub-continent. Many regions have many HVDC ventures. For instance, China has accepted HVDC systems for its rapidly increasing population requiring a large amount of power supply.

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On the other hand, the IGBT & thyristor industry in Europe is predicted to register the highest CAGR of 8.1% in the ensuing years. The regional market growth over the forecast period can be due to the large-scale presence of key players in the region. In addition to this, a rise in renewable energy trends leading to humungous demand for electric cars will boost the market growth in the region.

IGBT & Thyristor Market: Competitive Space

The global IGBT & thyristor market profiles key players such as:

• Infineon Technologies AG
• ON Semiconductor
• STMicroelectronics
• Mitsubishi Electric Corporation
• Fuji Electric Co. Ltd.
• Renesas Electronics Corporation
• ABB Ltd
• Hitachi Ltd.
• SEMIKRON
• Toshiba Corporation.

The global IGBT & thyristor market is segmented as follows:

By Packaging Type

• IGBT Discrete
• IGBT Module

By Power Rating

• Medium Power
• Low Power
• High-Power

By Voltage

• Below 400V
• 600V-650V
• 1,200V-1,700V
• 2,500V-3,300V
• >4,500V

By Application

• Power Transmission Systems
• Renewable Energy
• Rail Traction Systems
• Uninterrupted Power Supply
• Consumer Electronics
• Electric Vehicles & Hybrid Electric Vehicles
• Motor Drives

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa