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 and thyristor market research is a crucial resource for information on market potential, challenges, and restraints. The IGBT & thyristor industry research includes a thorough competitive landscape study in addition to a geographical market analysis. The paper also investigates the stakeholder and investor arena to assist businesses in making data-driven decisions.
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Summary of the IGBT and thyristor markets
In order to meet the demand for solid-state switching devices, insulated gate bipolar transistors and thyristors are used in power electronics applications such as inverters, controllers, and power supply. The enormous demand for power supply is continuously rising as a result of the rising population. As a result, switching losses and switching times of MOSFET have been decreased by the use of insulated gate bipolar transistors and thyristors, which aid in meeting current electricity demands. Additionally, it uses the high breakdown voltage and conduction losses of insulated gate bipolar transistors and thyristors to meet the demand for power supply. Additionally, reduced switching losses and thermal stress are made possible by insulated gate bipolar transistors and thyristors, which extends the life and dependability of electrical equipment.
Key Findings :
• Our research analyst’s analysis indicates that during the anticipated period (2023-2030), the global IGBT & thyristor market will grow at an average annual growth rate of roughly 10.1%.
• The global IGBT & thyristor market size was estimated to be close to $11.5 billion in sales in 2022 and is projected to increase to $15.5 billion by 2030.
• Due to the introduction of smart grids and new grid technologies in the power industry, the worldwide IGBT & thyristor market is predicted to experience enormous growth throughout the forecast period.
Global market trends will be boosted by the rising population and the surge in electricity demand.
The introduction of smart grids and new grid technologies in the electricity industry will accelerate market trends for IGBTs and thyristors worldwide. Population growth and the enormous need for power are expected to drive market growth in the years to come. Global market growth will be driven by the product’s extensive use in power electronics applications such controllers, power supplies, and inverters. The rise in nuclear families will support demand for IGBT and thyristors by increasing the need for robust infrastructure facilities.
In the coming years, the number of offshore wind farms will increase, which will expand the market for IGBTs and thyristors. Government programmes that are supportive of HDVC deployments will fuel the market’s expansion globally. IGBT and thyristors provide a wide range of advantages, including superior thermal performance, which will drive market growth internationally.
Global industry growth may be hampered by low awareness of new technology.
The global expansion of the IGBT and thyristor industries can be hampered by a lack of technological awareness and significant investments. Supply chain disruptions can stop the flow of raw materials, which hinders corporate expansion.
increasing need for new electric infrastructure to replace outdated ones in order to expand market prospects globally
The global IGBT & thyristor market may have new growth opportunities as a result of the decarbonization of power systems. Electric motor use in residential, industrial, and commercial applications as well as the need to replace ageing power grid infrastructure will open up new growth prospects for the global industry.
The increase in raw material components will be a major obstacle for the worldwide market.
The forecasted growth of the IGBT and thyristor sector may be significantly hampered by rising raw material costs and shifting governmental regulations about their use. Lack of knowledge about the advantages of using the product can be an even bigger obstacle to global industrial expansion.
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The Global IGBT & Thyristor Market is segmented based on product, application and region.
Global IGBT & Thyristor Market: Product Segment Analysis
● IGBT Discrete
● IGBT Module
Global IGBT & Thyristor Market: Application Segment Analysis
● Power Transmission Systems
● Renewable Energy
● Rail Traction Systems
● Uninterrupted Power Supply
● Consumer Electronics
● Electric Vehicles & Hybrid Electric Vehicles
● Motor Drive
Recently Occurring Events :
• A U.S.-based supplier of semiconductors named ON Semiconductor introduced the VE-Tra line of power modules in the second half of 2019. These modules are specifically designed for inverters with high-voltage vehicle traction. The action will accelerate the global growth of the IGBT and thyristor industries.
• STMicroelectronics N.V., a significant Swiss company in the semiconductor industry, teamed up with Maxon Motor AG, a significant supplier of precision motors, in the fourth quarter of 2019 to design and develop industrial servo drivers and robotics. The programme will broaden the market’s potential for expansion globally.
The global IGBT & thyristor market profiles key players such as:
● Infineon Technologies AG
● ON Semiconductor
● Mitsubishi Electric Corporation
● Fuji Electric Co. Ltd.
● Renesas Electronics Corporation
● ABB Ltd
● Hitachi Ltd.
● Toshiba Corporation
IGBT & thyristor market in Asia-Pacific expected to have a significant revenue share between 2023 and 2030
The Asia-Pacific is expected to lead regional market growth over the estimated timeframe, accounting for 50% of the global IGBT & thyristor market revenue share in 2022. The rise of the regional market can be attributed to the increasing demand for effective power transmission systems to meet the rising demand for power supply in the subcontinent. HVDC projects are prevalent in various regions. For instance, China’s rapidly expanding population, which demands a sizable amount of power supply, has approved HVDC systems.
On the other hand, it is anticipated that the IGBT and thyristor industry in Europe will see the greatest CAGR of 8.1% during the coming years. The substantial presence of major players in the region during the forecasted period may be to blame for the regional market’s rise. Additionally, a surge in renewable energy trends that spark a huge demand for electric automobiles would accelerate the region’s market growth.
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