Automotive IGBTs Market Trends

Automotive IGBTs Market size was valued at USD 7.08 Billion in 2023 and is poised to grow from USD 7.78 Billion in 2024 to USD 16.55 Billion by 2032, growing at a CAGR of 9.9% during the forecast period (2025-2032).

The study also offers a detailed analysis of recent company events and developments, including product development, inventions, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and other activities. This makes it possible to assess the level of total market competition. 'Infineon Technologies AG (Germany)', 'Mitsubishi Electric Corporation (Japan)', 'Fuji Electric Co., Ltd. (Japan)', 'ON Semiconductor Corporation (US)', 'STMicroelectronics N.V. (Switzerland)', 'Toshiba Corporation (Japan)', 'Hitachi, Ltd. (Japan)', 'Renesas Electronics Corporation (Japan)', 'Texas Instruments Incorporated (US)', 'Vishay Intertechnology, Inc. (US)', 'ABB Ltd. (Switzerland)', 'Robert Bosch GmbH (Germany)', 'NXP Semiconductors N.V. (Netherlands)', 'Semikron International GmbH (Germany)', 'IXYS Corporation (US)', 'Rohm Co., Ltd. (Japan)', 'Littelfuse, Inc. (US)', 'Power Integrations, Inc. (US)', 'Fairchild Semiconductor Corporation (US)', 'Microsemi Corporation (US)', 'Cree, Inc. (US)', 'Alpha and Omega Semiconductor Limited (Taiwan)'

Many companies are investing heavily in research and development to improve the performance and efficiency of IGBTs, and to develop new IGBT technologies. This investment is expected to drive the growth of the Automotive IGBTs market as new and improved IGBTs are introduced into the market

In order to improve the performance and efficiency of electric and hybrid vehicles, IGBTs are being integrated with other power electronics components, such as MOSFETs and BJTs. This integration can improve the performance of the power electronics system as a whole and provide additional benefits, such as reducing the cost of the system.

During the forecast period, Asia Pacific is anticipated to increase its market share significantly while also experiencing the highest CAGR. The largest rise is ascribed to the abundance of electrical and semiconductor producers in China, South Korea, and India. Due to its position as the world's top producer of electric vehicles, China is predicted to receive the highest revenue share. The country's market is expanding as a result of the growing use of electric automobiles. And with the development of technology, the demand for energy-saving resources is rising in India and Japan as well.