USD 10.3 billion
Insulated Gate Bipolar Transistors (IGBTs) Market Size, Share, and Growth Analysis
Insulated Gate Bipolar Transistors (IGBTs) Market By Type (Discrete IGBT, IGBT module), By Power Rating (High power, Medium power), By Application (Energy & power, Consumer electronics), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG45N2058 |
Region:
Global |
Published Date: March, 2025
Pages:
197
|Tables:
62
|Figures:
75
Format -
Insulated Gate Bipolar Transistors (IGBTs) Market Insights
Insulated Gate Bipolar Transistors (IGBTs) Market size was valued at USD 10.3 billion in 2023 and is poised to grow from USD 11.35 billion in 2024 to USD 24.69 billion by 2032, growing at a CAGR of 10.2% during the forecast period (2025-2032).
The global insulated gate bipolar transistors (IGBTs) market is a rapidly growing market, fueled by the increasing demand for power electronics applications across various industries. The purpose of the market is to produce and distribute IGBTs that are capable of handling high voltages and currents while minimizing power loss, thus providing greater efficiency and reliability to power electronics systems. This enables the development of new and advanced technologies that are capable of delivering higher performance while consuming less energy. The market is driven by several factors, including the growing need for energy-efficient solutions, the development of advanced semiconductor technologies, and the increasing demand for power electronics in various industries. However, the market also faces challenges such as intense competition, fluctuating raw material prices, and increasing regulatory requirements. To succeed in this market, companies need to focus on developing innovative products, expanding their distribution network, and building strong partnerships with customers and suppliers.
Key trends in the market include the increasing adoption of IGBTs in electric vehicles, the development of smart grid technologies, and the growth of renewable energy sources. These trends are expected to drive the demand for IGBTs in the coming years, as the world continues to move towards a more sustainable and energy-efficient future. There are also several opportunities in the market, including the development of new and innovative products, expansion into new markets, and strategic partnerships with other companies in the industry. The increasing demand for IGBTs in emerging markets such as China, India, and Brazil presents a significant growth opportunity for companies operating in this market.
US Insulated Gate Bipolar Transistors (IGBTs) Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
IGBT modules
Fastest Growth
IGBT modules
Growth Rate
10.2% CAGR
Global Insulated Gate Bipolar Transistors (IGBTs) Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
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Insulated Gate Bipolar Transistors (IGBTs) Market Segments Analysis
Global Insulated Gate Bipolar Transistors (IGBTs) Market is segmented by Type, Power Rating, Application and region. Based on Type, the market is segmented into Discrete IGBT and IGBT module. Based on Power Rating, the market is segmented into High power, Medium power and Low power. Based on Application, the market is segmented into Energy & power, Consumer electronics, Inverter & UPS, Electric vehicle, Industrial system and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Insulated Gate Bipolar Transistors (IGBTs) Market Analysis By Type
IGBT modules dominated the global market, accounting for a significant share of the overall revenue generated. The IGBT modules are widely used in high-power applications, such as motor drives, renewable energy systems, and power transmission systems. These modules offer various advantages over discrete IGBTs, including higher current ratings, better thermal conductivity, and improved efficiency. As a result, they are in high demand across multiple industries, driving the growth of the IGBT module segment.
The discrete IGBTs segment is the fastest-growing segment in the market. These discrete components are single IGBT units that are used in low- to medium-power applications. While the overall revenue generated by this segment may be lower than that of IGBT modules, the discrete IGBTs market is expected to witness significant growth over the coming years. This growth can be attributed to the rising demand for efficient power management solutions in various industries, including consumer electronics, automotive, and industrial manufacturing.
Insulated Gate Bipolar Transistors (IGBTs) Market Analysis By End Use
The industrial sector holds the largest share of the global IGBTs market. Industries such as manufacturing, automotive, aerospace, and energy heavily rely on IGBTs for their efficient power control and management needs. IGBTs enable precise control of high voltages and currents, making them ideal for industrial applications that demand reliable and high-performance electronic components. With the increasing automation and digitization of industrial processes, the demand for IGBTs in this sector is expected to continue growing significantly.
The renewable energy sector is the fastest-growing segment in the global IGBTs market. As the world shifts towards clean and sustainable energy sources, technologies like solar and wind power generation have gained tremendous momentum. IGBTs play a vital role in renewable energy systems by efficiently converting and controlling the electrical energy generated from these sources. With the ongoing global push for green energy adoption and the implementation of supportive government policies and incentives, the demand for IGBTs in renewable energy applications is expected to skyrocket. This segment is projected to experience exponential growth in the coming years, driven by the increasing deployment of solar farms, wind farms, and other renewable energy installations worldwide.
Global Insulated Gate Bipolar Transistors (IGBTs) Market Size By Type 2022(%)
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Insulated Gate Bipolar Transistors (IGBTs) Market Regional Insights
Asia-Pacific dominated the market, with China and Japan being the major contributors to the regional growth. The increasing adoption of renewable energy sources, such as wind and solar power, in China and India, is expected to drive the demand for IGBTs in these regions, as IGBTs are a critical component of power electronics systems used in renewable energy infrastructure. Furthermore, the growing demand for electric vehicles in Asia-Pacific is also expected to contribute significantly to the growth of the IGBT market. Electric vehicles require efficient power electronics systems, and IGBTs play a crucial role in enabling the high-efficiency power conversion required for electric vehicle operation. This is expected to create a significant demand for IGBTs in the region, driving the growth of the market.
In terms of the fastest growing region, North America is expected to experience rapid growth over the next few years. The increasing adoption of electric vehicles and renewable energy sources in the region, coupled with the development of smart grids and energy storage systems, is expected to drive the demand for IGBTs in North America. In addition, the presence of major automotive and semiconductor manufacturers in the region is expected to drive the growth of the market.
Global Insulated Gate Bipolar Transistors (IGBTs) Market Size By Geography, 2022-2030
- Largest
- Fastest
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Insulated Gate Bipolar Transistors (IGBTs) Market Dynamics
Insulated Gate Bipolar Transistors (IGBTs) Market Drivers
Increasing demand for energy-efficient solutions
- The growing demand for energy-efficient solutions in various sectors, such as renewable energy, transportation, and industrial automation, is driving the growth of the global insulated gate bipolar transistors (IGBTs) market. IGBTs are widely used in these applications because of their high efficiency and ability to handle high voltages and currents. For example, in the renewable energy sector, IGBTs are used in solar and wind power inverters to convert DC power into AC power.
Technological advancements in IGBTs
- Technological advancements in IGBTs, such as the development of new materials and designs, are also driving the growth of the global IGBTs market. For instance, the introduction of new materials like Silicon Carbide (SiC) and Gallium Nitride (GaN) is enabling the production of IGBTs with higher efficiency and lower power loss. Additionally, advancements in packaging technologies, such as chip-scale packaging and stacked die packaging, are also improving the performance and reliability of IGBTs.
Insulated Gate Bipolar Transistors (IGBTs) Market Restraints
High cost of IGBTs
- The high cost of IGBTs is a major restraint to the growth of the global IGBTs market. IGBTs are still more expensive compared to other power electronics components, such as diodes and MOSFETs. This makes them less attractive for applications that require lower power ratings or cost-sensitive applications.
Intense competition from other power electronics components
- The global IGBTs market faces intense competition from other power electronics components such as MOSFETs and thyristors. MOSFETs, in particular, are gaining popularity due to their lower cost and higher switching speeds. This intense competition is limiting the growth of the IGBTs market in certain applications and geographies.
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Insulated Gate Bipolar Transistors (IGBTs) Market Competitive Landscape
Global IGBT market is highly competitive, with several prominent players vying for market share. Some of the major players in the market are investing in research and development to develop new and innovative products, expand their product portfolios, and improve their market positions. They are also engaging in strategic collaborations and partnerships with other companies to expand their customer base and enter new markets. Additionally, the IGBT market is witnessing increasing consolidation, with several mergers and acquisitions taking place to consolidate market share and gain a competitive edge. For instance, in September 2021, Infineon Technologies announced its acquisition of Cypress Semiconductor Corporation to expand its portfolio of high-performance solutions for the automotive, industrial, and consumer markets.
Top Players in Insulated Gate Bipolar Transistors (IGBTs) Market
- Infineon Technologies AG (Germany)
- ABB Ltd (Switzerland)
- Danfoss Group (Denmark)
- Fuji Electric Co., Ltd. (Japan)
- Hitachi, Ltd. (Japan)
- Toshiba Corporation (Japan)
- ROHM CO., LTD (Japan)
- Littelfuse, Inc. (USA)
- StarPower Semiconductor Ltd. (China)
- Renesas Electronics Corporation (Japan)
- ON Semiconductor Corporation (USA)
- STMicroelectronics (Switzerland)
- IPG Photonics Corporation (USA)
- Texas Instruments Incorporated (USA)
- Analog Devices Inc. (USA)
- Microchip Technology Inc. (USA)
- Alpha & Omega Semiconductor (USA)
- SEMIKRON (Germany)
Insulated Gate Bipolar Transistors (IGBTs) Market Recent Developments
- In January 2021, Infineon Technologies AG, a German semiconductor manufacturer, announced that it had acquired Cypress Semiconductor Corporation, an American semiconductor design and manufacturing company, for USD 10.1 billion.
- In March 2021, Mitsubishi Electric Corporation, a Japanese electronics and electrical equipment manufacturer, announced the launch of its latest series of high-performance IGBT modules, the NX series.
- In June 2021, Toshiba Electronic Devices & Storage Corporation, a Japanese electronics manufacturer, announced that it had developed a new IGBT for railway applications that is capable of withstanding high-temperature environments and reducing power loss.
- In July 2021, STMicroelectronics, a French-Italian semiconductor manufacturer, announced the launch of its latest IGBT series, the HB5 series, which is designed for high-power industrial applications.
Insulated Gate Bipolar Transistors (IGBTs) Key Market Trends
- Increasing adoption of electric vehicles: The increasing adoption of electric vehicles (EVs) is a major trend driving the growth of the global IGBTs market. IGBTs are used in EVs to control the flow of power from the battery to the motor. With the increasing adoption of EVs, the demand for IGBTs is expected to grow significantly in the coming years.
- The emergence of Industry 4.0: Industry 4.0 refers to the fourth industrial revolution, which involves the use of advanced technologies such as artificial intelligence, the Internet of Things (IoT), and robotics to automate and optimize industrial processes. IGBTs are critical components in Industry 4.0 applications, such as robotics, factory automation, and smart grids. As the adoption of Industry 4.0 technologies increases, the demand for IGBTs is expected to grow as well.
Insulated Gate Bipolar Transistors (IGBTs) Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Insulated Gate Bipolar Transistors (IGBTs) Market analysis, the market growth can be attributed to the increasing demand for IGBTs in various industries such as automotive, renewable energy, and consumer electronics. Additionally, the rising need for energy-efficient devices, coupled with the development of smart grids, is also expected to drive market growth. Furthermore, advancements in technologies such as power electronics, and the growing trend of electric vehicles and hybrid electric vehicles are also anticipated to fuel the demand for IGBTs in the coming years. However, factors such as high costs associated with IGBTs and the availability of substitutes such as MOSFETs could potentially hinder market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 10.3 billion |
| Market size value in 2032 | USD 24.69 billion |
| Growth Rate | 10.2% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Insulated Gate Bipolar Transistors (IGBTs) Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Insulated Gate Bipolar Transistors (IGBTs) Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Insulated Gate Bipolar Transistors (IGBTs) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Insulated Gate Bipolar Transistors (IGBTs) Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Insulated Gate Bipolar Transistors (IGBTs) Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Insulated Gate Bipolar Transistors (IGBTs) Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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