Insulated Gate Bipolar Transistors and Metal Oxide Field Effect Transistor Market (Type - Discrete IGBT, and IGBT Modules; Power Rating - High Power, Medium Power, and Low Power; Application - Energy and Power, Consumer Electronics, Inverter and UPS, Electrical Vehicle, Industrial System, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

A recent report published by Infinium Global Research on the insulated gate bipolar transistors and metal oxide field effect transistor market provides an in-depth analysis of segments and sub-segments in the global as well as regional insulated gate bipolar transistors and metal oxide field effect transistor market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional insulated gate bipolar transistors and metal oxide field effect transistor market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of global insulated gate bipolar transistors and the metal oxide field effect transistor market. According to the report, the global insulated gate bipolar transistors and metal oxide field effect transistor market is projected to grow at a CAGR of nearly 3% during the forecast period of 2022-2028. 

Market Insight

The insulated gate bipolar transistors and metal oxide field effect transistor market was valued at over USD 6 Billion in 2022 and is expected to reach about USD 8 Billion in 2028, with a CAGR of nearly 3% during the forecast period. Semiconductor devices used in power electronics, inverters, and motor drives are insulated gate bipolar transistors (IGBT) and metal oxide field effect transistors. IGBT aims to deliver a faster switching rate and higher efficiency to enable proper operations at high voltage or high current. In addition, it can be used for dynamic braking, where the power is dissipated by resistors connected in parallel or series. It is widely used in high power rating applications, including electric vehicle motor drives, inductive heating cookers, and appliance motor drives. Moreover, these transistors provide advantages such as voltage regulation and tolerance to extreme temperature conditions. 

IGBT is widely used in various applications such as renewable energy, high voltage direct current (HVDC), motor drive, and consumer electronics, owing to its faster switching rate, high efficiency, and improved durability. Such rising applications of IGBT generate massive demand for them and drive the market’s growth. Moreover, it supports high input impedance and enhanced parallel current sharing, fueling the market growth. Furthermore, governments of various regions are more focused on increasing solar power generation, which is expected to propel the market’s growth over the forecast period. Additionally, the automotive industry is also experiencing a massive demand for IGBT owing to the increasing adoption of Electric Vehicles around the country. As rising adoption of electric vehicles is also anticipated to boost the market’s growth shortly. Furthermore, rising wind power generation, escalating industrial activities, rising household appliances consumption, and growing use of IGBT in railways are key factors driving the market’s growth over the forecast period. However, performance issues, such as current leakage and breakdown, and the availability of alternatives, hamper the market growth. Proactive government initiatives to establish HVDCs & intelligent grids and increase demand for consumer electronics are expected to provide lucrative opportunities to market players soon. 

The outbreak of COVID-19 harmed global insulated gate bipolar transistors and the metal oxide field effect transistor market. In the first quarter of 2020, Insulated gate bipolar transistor manufacturing has been highly disturbed due to the lack of components available. Moreover, the insulated gate bipolar transistor production capacity and market growth were negatively affected due to the unavailability of the total workforce. Also, the automakers around the world cut orders as vehicle sales plummeted due to the imposed lockdown in various regions. This factor had a detrimental impact on the market of insulated gate bipolar transistors and metal oxide field effect transistors. As a result, the market was experiencing a slow growth rate during the year 2020 as compared to the pre-pandemic level. However, in the second half of 2020, the demand for power semiconductors was returned to the pre-pandemic level when lockdown restrictions were normalized. 

Geographically, Asia Pacific dominated the global insulated gate bipolar transistors and metal oxide field effect transistor market in 2021. This dominance of Asia Pacific is expected to continue over the forecast period. There is a presence of various international and domestic players in the region’s countries, especially in China, which is driving the growth of the IGBT market in the Asia Pacific. Hence, China has become the leading IGBT market in the Asia Pacific region. Moreover, the IGBT market of the Asia Pacific region is expected to grow tremendously soon due to the rapid growth of the automotive market in countries like China, Japan, Taiwan, India, and others. On the other hand, the IGBT market in North America is expected to have lucrative growth opportunities over the forecast period. The North American IGBT market is expected to grow due to the industrial sector’s rapid development and government initiatives to strengthen semiconductor chip production capacity. 

Segment Covered

The report on the global insulated gate bipolar transistors and metal oxide field effect transistor market covers segments such as type, power rating, and application. On the basis of type, the sub-markets include discrete IGBT and IGBT modules. On the basis of power rating, the sub-markets include high power, medium power, and low power. On the basis of application, the sub-markets include energy and power, consumer electronics, inverter and UPS, electrical vehicles, industrial systems, and others. 

Companies Profiled:

The report provides profiles of the companies in the market such as Infineon Technology, Mitsubishi Electric, ABB Ltd., Toshiba Corporation, Renesas Electronics Corporation, STMicroelectronics N.V., Fuji Electric, Hitachi, Ltd., ROHM Semiconductor, and NXP Semiconductor N.V. 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of insulated gate bipolar transistors and metal oxide field effect transistor market. Moreover, the study highlights current market trends and provides forecasts for 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.