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.
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➤ Surging demand for electricity in response to the growing global population is expected to stimulate global market trends.
The global IGBT & thyristor market trends will be positively impacted by the introduction of smart grids and new grid technology in the power sector. The market is expected to expand in the coming years due to the significant demand for electricity and the increasing population. The market will expand globally as a result of the product’s widespread use in power electronics applications, including inverters, power supplies, and controllers. The demand for IGBT and thyristors will be sustained by the increase in the number of nuclear families, which will necessitate the construction of robust infrastructure facilities.
➤ The global industry surge may be impeded by a lack of cognizance of new technology on a global scale.
The IGBT & thyristor industry’s global expansion may be impeded by a lack of technological awareness and substantial investments. The interruption of supply chain activities can impede the development of a business by halting the supply of raw components.
➤ The global market is experiencing an increasing demand for the replacement of outdated electric infrastructure with newer ones in order to create new growth opportunities.
Decarbonization of power systems has the potential to provide the IGBT & thyristor market with new growth opportunities on a global scale. The global market will generate new growth opportunities as a result of the necessity to replace antiquated power grid infrastructure and the utilization of electric motors in residential, industrial, and commercial applications.
➤ The global industry will face a significant challenge due to the increase in basic material components.
Over the forecasting timeline, the IGBT & thyristor industry may face a significant challenge due to the escalating costs of raw materials and the evolving government policies regarding the use of these devices. Furthermore, the absence of awareness regarding the advantages of employing the product may present an even greater obstacle to industry expansion worldwide.
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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 Drives
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The global IGBT & Thyristor market profiles key players such as:
● Infineon Technologies AG
● ON Semiconductor
● STMicroelectronics
● Mitsubishi Electric Corporation
● Fuji Electric Co. Ltd.
● Renesas Electronics Corporation
● ABB Ltd
● Hitachi Ltd.
● SEMIKRON
● Toshiba Corporation
???? Recent Developments
• ON Semiconductor, a U.S.-based semiconductor supplier, introduced the VE-Tra series of power modules in the latter half of 2019. These modules are specifically designed for inverters with high-voltage automotive traction. The expansion of the IGBT & thyristor industry worldwide will be facilitated by this action.
• In the final quarter of 2019, STMicroelectronics N.V., a prominent Swiss company in the semiconductor industry, partnered with Maxon Motor AG, a leading provider of precision motors, to collaborate on the design and development of industrial servo drivers and robotics. The initiative will broaden the purview of the global market’s expansion.
➤ Over 2023-2030, the Asia-Pacific IGBT and thyristor market is expected to have a significant revenue share.
It is expected that the Asia-Pacific region will continue to dominate the regional market growth during the forecast period, as it accounted for 50% of the global IGBT & thyristor market revenue share in 2022. The regional market expansion can be attributed to the increasing demand for power transmission systems that are capable of meeting the escalating demand for power supply in the subcontinent. There are numerous HVDC projects in numerous regions. For example, China has embraced HVDC systems to accommodate its rapidly expanding population, which necessitates a substantial quantity of power supply.
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