igbt-market-to-exhibit-9.8%-cagr-during-2021-to-2028;-active-government-participation-and-promotion-of-electric-vehicles-worldwide-to-accelerate-business:-fortune-business-insights

IGBT Market to Exhibit 9.8% CAGR during 2021 to 2028; Active Government Participation and Promotion of Electric Vehicles Worldwide to Accelerate Business: Fortune Business Insights™

Pune, India, July 14, 2021 (GLOBE NEWSWIRE) — The global insulated gate bipolar transistor market size is expected to reach USD 11.24 billion by 2028, exhibiting a CAGR of 9.8% during the forecast period. The increasing demand for IGBT from high voltage applications such as motor drive inverters, solar inverters, uninterruptible power supplies (UPS), and others will boost the market growth. As per a report by Fortune Business Insights™ titled, “Insulated Gate Bipolar Transistor (IGBT) Market, 2021-2028.” the market size stood at USD 5.40 billion in 2020.

COVID-19 Impact:

The coronavirus epidemic had a major effect on the semiconductor industry. The global supply chain instability caused by the closing of international borders adversely affected the semiconductor chip demand. According to a survey by Accenture Plc, the semiconductor industry’s annual sales growth was expected to be 12.5 percent in 2020, but due to pandemic crises, it was only 9%. However, insulated gate bipolar transistor industry growth will likely be driven by an uptick in demand for cloud and data center services as a result of the rise in remote working during the COVID-19 Pandemic.

Request To Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/igbt-module-market-100501

The Report Lists the Main Companies in IGBT Market:

  • Infineon Technologies AG (Munich, Germany)
  • Danfoss Group (Nordborg, Denmark)
  • ROHM CO., LTD (Kyoto, Japan)
  • Hitachi, Ltd. (Tokyo, Japan)
  • ABB Ltd (Zürich, Switzerland)
  • Mitsubishi Electric Corporation (Tokyo, Japan)
  • Fuji Electric Co., Ltd. (Tokyo, Japan)
  • Toshiba Corporation (Tokyo, Japan)
  • LITTELFUSE, INC. (Illinois, United States)
  • StarPower Semiconductor Ltd. (Jiaxing, China)

REPORT SCOPE & SEGMENTATION:

Report Coverage Details
Forecast Period 2021 to 2028
Forecast Period 2021 to 2028 CAGR 9.8%
2028 Value Projection USD 11.24 Billion
Base Year 2020
Market Size in 2020 USD 5.40 Billion
Historical Data for 2017 to 2019
No. of Pages 130
Tables, Charts & Figures 43
Segments covered Voltage;  Application; and Region
Growth Drivers Rising Demand from Automotive Industry to Promote Market Growth
Surging Demand for Electric Vehicles is Driving the Market Growth
Rapid Adoption of Automation to Boost IGBT Application in Industrial Manufacturing
Pitfalls & Challenges Design Complexities to Hamper Market Growth

Market Segments:

Based on the voltage, the market has been divided into low voltage, medium voltage, and high voltage. Based on the application, the market is classified into consumer electronics, industrial manufacturing, automotive (EV/HEV), inverters/UPS, railways, renewables, and others. Geographically, the market is classified into five major regions: North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

What does the report include?

The market report presents a detailed analysis of the market, primarily focusing on growth trajectories such as drivers, restraints, challenges, and opportunities. It lists the segments of the market in detail and the names of market players as well.  The key industrial insights and major strategies adopted by players such as merger and acquisition, company collaborations, and others are also presented in the market, along with other insulated gate bipolar transistor market trends.

Ask for Customization: https://www.fortunebusinessinsights.com/enquiry/customization/igbt-module-market-100501

Driving Factor:

Rising Demand from Automotive Industry to Promote Market Growth

The increasing demand for alternative current (AC) in driving engines these days is a major factor promoting the overall IGBT market growth in the forecast period. Additionally, the rise in popularity of electric vehicles and increasing investments are also expected to help accelerate the overall market size in the forthcoming years. Besides this, the surge in fuel prices is also increasing the demand for electric vehicles, creating lucrative growth opportunities from the automotive sector. It is further expected to help generate high IGBT module market revenue in the coming years.  Furthermore, the advancement in technology and the advent of artificial intelligence and the Internet of Things will further help augment the overall market growth in the coming years.

Regional Insights:

Rapid Adoption of Electric Vehicles to Aid Development in Asia Pacific

North America is expected to hold a significant insulated gate bipolar transistor market share. The increasing awareness about renewable resources and their implementation in various industries will aid expansion in the region. On the other hand, the Asia Pacific market is anticipated to emerge as the fastest-growing region on account of China’s rapid pace of electric vehicle adoption. This region held a revenue of  USD 2.37 billion in 2020. Additionally, government initiatives are also helping in the promotion of electric vehicles. This is further anticipated to help increase the regional market size in the coming years.

Speak to Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/igbt-module-market-100501

Competitive Landscape:

Company Collaborations and Research and Development Activities to Bode Well for Market

Currently, a handful of companies are collectively contributing to the IGBT market share. These companies include Fuji Electric Co. Ltd., Hitachi, ABB Ltd., Infineon Technologies AG, and Mitsubishi Electric Corporation. Furthermore, intense research and development, company collaborations, and research and development strategies adopted by players are further predicted to help attract high IGBT device market revenue in the forthcoming years. For instance, in July 2020, ABB Ltd and Hitachi signed a partnership contract worth USD 11 billion, as “Hitachi ABB Power Grids Ltd.” The joint venture will focus on electric mobility, industry and Information Technology (IT), and smart life.

Key Industry Development

March 2021: Toshiba Corporation announced its plans to invest in enhancing its production capacity for power devices such as low-voltage metal-oxide-semiconductor field-effect transistors (MOSFETs) and insulated gate bipolar transistors.

Quick Buy- IGBT Market: https://www.fortunebusinessinsights.com/checkout-page/100501

Detailed Table of Content

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Key Takeaways
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
  • Global Insulated Gate Bipolar Transistor Key Players Market Share Insights and Analysis, 2020
  • Key Market Insights and Strategic Recommendations
  • Companies Profiled (Covered for key 10 players only)
    • Overview
      • Key Management
      • Headquarters etc.
    • Offerings/Business Segments
    • Key Details (Subjected to data availability in public domain and/or on paid databases)
      • Employee Size
      • Key Financials
        • Past and Current Revenue
        • Geographical Share
        • Business Segment Share
    • Recent Developments

TOC Continued

Have a Look at Related Research Insights:

Opto Semiconductors Market Size, Share & COVID-19 Impact Analysis, By Type (LED, Image Sensors, Infrared Component, Optocouplers, and Laser Diode), By Application (Residential & Commercial and Industrial), and Regional Forecast, 2021-2028

Machine Vision Market Size, Share & COVID-19 Impact Analysis, By Type (1-D Vision System, 2-D Vision System, & 3-D Vision System), By System (PC based, Smart Camera & Others), By Industry (Semiconductor, Healthcare, Automotive, Manufacturing & Others), and Regional Forecast, 2021-2028

Semiconductor Market Size, Share & COVID-19 Impact Analysis, By Components (Memory Devices, Logic Devices, Analog IC, MPU, Discrete Power Devices, MCU, Sensors and Others), By Application (Networking & Communications, Data Processing, Industrial, Consumer Electronics, Automotive, Government) and Regional Forecast, 2021-2028

Industrial Sensors Market Size, Share & COVID-19 Impact Analysis, By Type (Temperature Sensor, Proximity Sensor, Pressure Sensor, Position Sensor, Motion Sensor, Level Sensor, Gas and Chemical Sensor, Humidity Sensor, Flow Sensor, Others), By End Use Industry (Discrete, Process), and Regional Forecast, 2020-2027

Robotic Sensors Market Size, Share & COVID-19 Impact Analysis, By Type (Light Sensor, Tactile Sensor, Temperature Sensor, Pressure Sensor, Navigation and Positioning Sensors, Proximity Sensor, Others), By End Use Industry (Aerospace and Defense, Automotive, Chemicals, Consumer Electronics, Energy and Utility, Food and Beverages, Healthcare, Logistics and Transportation, Manufacturing, Agriculture, Others) and Regional Forecast, 2020-2027

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. 

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. 

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune – 411045, Maharashtra, India.

Phone:

US: +1-424-253-0390

UK: +44-2071-939123

APAC: +91-744-740-1245

Email: [email protected]

Fortune Business Insights™

LinkedIn | Twitter | Blogs 

Read Press Release: https://www.fortunebusinessinsights.com/press-release/insulated-gate-bipolar-transistor-igbt-market-9530

European Gaming Congress 2024 (Warsaw, Poland)
Roboticulized digests/handpicks the latest news about the artificial intelligence/machine learning industry and serves them to you daily. We provide you with the latest news and press releases straight from the AI/ML industry.