Insulated-Gate Bipolar Transistors (IGBTs) Market size worth $ 13.19 Billion, Globally, by 2028 at 9.25% CAGR: Verified Market Research®

Insulated-Gate Bipolar Transistors (IGBTs) Market size worth $ 13.19 Billion, Globally, by 2028 at 9.25% CAGR: Verified Market Research®

PR Newswire

JERSEY CITY, N.J., Jan. 13, 2022

The major factor driving the growth of the global Insulated-Gate Bipolar Transistors (IGBTs) Market is the growing demand for electric vehicles due to rising awareness about low emissions and environmentally friendly commuting.

JERSEY CITY, N.J., Jan. 13, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Insulated-Gate Bipolar Transistors (IGBTs) Market" By Power Rating (High Power, Medium Power, Low Power), By Type (Discrete IGBT, IGBT Module), By Application (Consumer Electronics, Electric Vehicle, Energy & Power), and By Geography. According to Verified Market Research, the Global Insulated-Gate Bipolar Transistors (IGBTs) Market size was valued at USD 6.5 Billion in 2020 and is projected to reach USD 13.19 Billion by 2028, growing at a CAGR of 9.25% from 2021 to 2028.

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Global Insulated-Gate Bipolar Transistors (IGBTs) Market Overview

Currently, the demand and sale of electric vehicles are vastly growing due to growing awareness about environment-friendly, non-toxic emissions policies and growing degradation of petroleum energy sources, these are the major factors driving the demand of the Global Insulated-Gate Bipolar Transistors (IGBTs) Market. Apart from growing awareness there are many government initiatives towards the development of the smart grid and HVDC for growing infrastructure, this is another factor inclining the growth of global IGBT Market.

There are certain problems related to IGBT (Insulated Gate Bipolar Transistor) like failure mechanisms, wearing out, overstress, high turn-off time, and hampering, these are some of the drawbacks of Insulated Gate Bipolar Transistors that are restraining the growth of the global Insulated-Gate Bipolar Transistors (IGBTs) Market. Additionally, these Insulated Gate Bipolar Transistors are very costly to produce and it directly reflects on their selling price which makes these Insulated Gate Bipolar Transistors unaffordable for many organizations in developing countries.

In recent years, the increasing popularity of these Insulated Gate Bipolar Transistors in electric vehicles. Increasing sales of EVs is projected to push the market growth in the forecast period. Also, major players of the Global Insulated-Gate Bipolar Transistors (IGBTs) Market are investing in research and development for enhancing the capacity, eliminating drawbacks, and reducing the production costs of Insulated Gate Bipolar Transistors, these research and development activities will bring some major growth opportunities for the Global IGBT Market.

Key Developments

Key Players

The major players in the market are ABB Group, Infineon Technologies AG, Fujitsu Ltd., NXP Semiconductors N.V., STMicroelectronics N.V., Toshiba Corporation, IXYS Corporation, Semikron International GmbH, Renesas Electronics Corporation, Fairchild Semiconductor International, Inc., and Fuji Electric Co. Ltd.

Verified Market Research has segmented the Global Insulated-Gate Bipolar Transistors (IGBTs) Market On the basis of Power Rating, Type, Application, and Geography.

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