Insulated Gate Bipolar Transistor (IGBT) Market Size, Share & Industry Analysis, By Voltage (Low Voltage, Medium Voltage, and High Voltage), By Application (Consumer Electronics, Industrial Manufacturing, Automotive (EV/HEV), Inverters/UPS, Railways, Renewables, Others) and Regional Forecast, 2019-2026

The global insulated gate bipolar transistor (IGBT) market size stood at USD 4.92 billion in 2018 and is projected to reach USD 9.90 billion by 2026, exhibiting a CAGR of 9.2% during the forecast period.

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Insulated gate bipolar transistor (IGBT) module functions as a voltage-controlled power electronic device. Due to their higher switching frequency, IGBTs are widely accepted in high-voltage applications requiring lower conduction losses. IGBTs closest counterparts namely bipolar junction transistor (BJT) and Field Effect Transistor (FET) including MOSFET, are more suitable for use in low to medium power and high-frequency applications.

The insulated gate bipolar transistor obtains some key characteristics from both its closest counterparts. This includes the high switching speed and high input impedance of a MOSFET on one hand and low saturation voltage of bipolar transistor on the other. The output of this hybrid combination is known as insulated gate bipolar transistor.

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The insulated gate bipolar transistor market demand is increasing owing to its applications across a wide range of industries including automotive, rail, energy, and power and consumer electronics.

In these industries, there is a huge demand for the IGBT components specially in the high voltage applications such as switch-mode power supplies (SMPS), motor drive inverters, solar inverters, uninterruptible power supplies (UPS), and welding among others.

MARKET DRIVERS

“Surging demand for electric vehicle manufacturers driving IGBT module growth”

IGBT devices are used in the power control modules of electric vehicles to turn energy from fuel cells and batteries into alternating current (AC), to drive the engine. IGBT thus, becomes an integral component of electric vehicles. Owing to characteristics such as high voltage and current capabilities, the IGBT market demand is increasing in electric vehicle inverters. Along with this, the automotive sector is also moving ahead in energy-saving mode. Many automotive manufacturers are investing heavily in electric vehicles (EV), keeping in sight the rising government regulations regarding the energy consumption. Lead free electric vehicles are being manufactured with the help of IGBT. The rise in fuel prices are also forcing the users to shift towards electric vehicles. Globally, the sale of electric vehicles is creating new profit streams for manufacturers and suppliers. All this is boosting the global IGBT market growth.

“Rising application of Artificial Intelligence (AI) and Internet of Things (IoT) in power management is Expected to Boost Market”

Technologies such as Artificial Intelligence (AI) and Internet of Things (IoT) is expected to bring new trends in the IGBT market. An IoT architecture is projected to remotely manage IGBTs remaining life based upon their data history of its component failure. Also, AI is expected to enhance dependable predictions and health monitoring of IGBT components in power management converters. The data-driven method employs data science and machine learning techniques and identifies anomalies in devices and systems. This architecture will help to reduce power losses, which will in turn decrease the costs associated with it. Additionally, such architecture also helps to manage the power requirements in the IGBT modules.

Manufacturers claim that these technologies will eliminate around 80% of IGBT switching losses, and near about 90% switching losses of silicon carbide (SiC). Considering these benefits, the adoption of AI and IoT in power module is extensively driving the IGBT market and technology trends.

SEGMENTATION

By Voltage Analysis

“Increasing IGBT adoption in lower voltage power-devices is estimated to gain traction during the forecast period.”

Based on voltage, the global IGBT market is classified into low voltage, medium voltage, and high voltage.

Currently, IGBT dominates in the medium and high power control devices. However, owing to its characteristics, miniaturization, and advancements, it is widely being implemented across low voltage power devices.

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Low voltage power devices include blenders, washing machines, toasters and refrigerator compressors. These devices comprise of electric motor. IGBT controls the other components and motors.  The introduction of IGBT-enabled adjustable speed drives (ASD) in washing machines and the implementation of IGBT to reduce compressor noise is expected to help accelerate the IGBT market size in low power voltage devices.

By Application Analysis

“Rising adoption of IGBT in industrial manufacturing, automotive, and consumer electronics industries are boosting scope of IGBT applications”

The scope of study focusses on key application areas including consumer electronics, industrial manufacturing, automotive (EV/HEV), inverters/UPs, railways, renewables amongst others.

The wide application of IGBT in motors is expected to increase the insulated gate bipolar transistor market adoption. The IGBT contributed in enhancing the cost effective adjustable speed drivers in its early stage. The energy consumption by the motors is high. These ASD reduces the total power consumption by the motor in the devices. IGBT technology contributes to energy saving, as it reduces energy consumption. This balances the energy consumption in the industrial manufacturing units and further promoting the IGBT market growth.

The increasing demand for IGBT from automotive sector for electric vehicles is attributable to their ability to enable smooth operations of electric vehicles in transferring power at a steady rate to the grid. For reliability, increasing power, and prolong lifetime, IGBT is packaged to the module with multiple devices, isolation layer, and protection parts. These modules can work in harsh environments such as high temperature, mechanical vibration, humidity, and shock, and the possibility of chemical contamination. Thus, the electric vehicle manufacturers are adopting IGBT technology.

In consumer electronics there is demand boost for IGBT technology. For example, air conditioners operate with self-cleaning features which requires vector-controlled compressor motor for saving energy. IGBTs are used to keep the input current below the IEC limit in the power supply circuits, thus reducing the power consumption. Also, in the refrigerators, the demand for more door space is increasing. To increase the door space, it requires thinner heat insulators and motors. Refrigerators at home which runs at low speed should not affect the efficiency of the motor and reduce the acoustic noise and vibration. IGBT controls the circuit and keeps input current under the described limits. IGBT controls the noises by enabling silent compressors as the pulse generated switching speeds are above the human hearing frequency range. The advancements and increasing applications of IGBT is anticipated to increase the overall IGBT market revenue in the forecast period.

REGIONAL ANALYSIS

The report analyzes ongoing IGBT market trends across regions such as North America, Asia Pacific, Europe, Latin America, and the Middle east and Africa.  Several IGBT market developments have been analyzed across these regions, which is further categorized into countries.

Asia Pacific is the fast-growing region in the IGBT market. The rise in demand for IGBT in this region is mainly because of the vast market of electric vehicles. China is the fastest growing country in terms of adopting the EV and has witnessed about 80% market growth over the prior year. The government initiatives and regulatory policies are also boosting the EV market. The applications of IGBT in the electric vehicle is increasing along with the improvement and technical advancement of IGBT devices. Japan and India are also witnessing the increasing demand for energy-saving resources.

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North America accounts for the highest IGBT market share and was valued at USD 1.85 billion in 2018. This dominance is due to rising awareness and implementation of renewable resources. IGBT is a low power consuming component which is highly recommended for energy saving in North America.

IGBT in bullet trains was first adopted in Europe. This implementation has resulted in a reduction in volume and weight of bullet trains. There is reduction in cost and expenses as well, in comparison to the previous generation (GTO-based) traction systems. The IGBT has increases the reliability of devices in the market.

IGBT market in Latin America (LATAM) and the Middle East & Africa (MEA) is projected to exhibit steady growth. The manufacturer’s interest along with the government initiatives for low energy consumption devices are boosting the insulated gate bipolar transistor (IGBT) market size.

INDUSTRY KEY PLAYERS

“Market Players like Infineon Technology, Toshiba, and Hitachi are focused on the development and advancement of low and high voltage”

Key players, including Infineon Technologies AG, Hitachi, Fuji Electric Co., Ltd., Mitsubishi Electric Corporation, and ABB Ltd., are expected to dominate the insulated gate bipolar transistor (IGBT) market. Together, these companies will account for 46 percent of the global insulated gate bipolar transistor market share. The insulated gate bipolar transistor market potential is rising, owing to research and development, strategic partnerships and collaborations in the IGBT.

Major IGBT manufacturers are adopting innovative technologies to develop advanced IGBT to fulfill rising demands in automotive and high-power devices. Companies such as Infineon Technologies AG and Fuji Electric Co., Ltd are focused on the development of advanced industrial IGBT based on medium and high power modules.  To cater to the rising demand of IGBT from automotive, industrial, and several manufacturing sectors, major players such as Mitsubishi Electric Corporation, Hitachi, Ltd. are focused on completing the strategic acquisition of start-ups and mergers with other players.

List Of Key Companies Profiled:

• Danfoss Group


• Fuji Electric Co., Ltd.


• Mitsubishi Electric Corporation


• Infineon Technologies AG


• Hitachi, Ltd.


• Toshiba Corporation


• ABB Ltd.


• Littelfuse, Inc. (IXYS).


• Rohm Co., Ltd.


• Starpower

REPORT COVERAGE

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The report provides detailed information regarding various insights into the market. Some of them are growth drivers, restraints, competitive landscape, regional analysis, and challenges. It further offers an analytical depiction of the insulated gate bipolar transistor (IGBT) market technological trends and estimations to illustrate the forthcoming investment pockets. The market is quantitatively analyzed from 2019 to 2026 to provide the financial competency of the market. The information gathered in the report has been taken from several primary and secondary sources.

Report Scope & Segmentation

INDUSTRY DEVELOPMENT:

• May 2019: Infineon Technologies AG announced their partnership with Volkswagen Group as a strategic supplier network for FAST (Future Automotive Supply Tracks). Together with Volkswagen, the partnership will suffice to the requirements of the increasing range of electric vehicles or reduce charging times. The future semiconductors' requirements will be considered during the partnership.


• January 2018: Mitsubishi Electric Corporation announced that it developed a power semiconductor module 6.5 kV full silicon carbide (SiC), which will offer the highest power density (calculated from rated voltage and current), among others. The company expects it will provide railcars and electric power systems, smaller and more energy-efficient power equipment. The 6.5 kV rated voltage is highest among silicon IGBT power semiconductor modules.


• June 2019: TOSHIBA CORPORATION developed a compact model in Insulated Gate Bipolar Transistors (IGBT) and Injection Enhanced Gate Transistors (IEGT) for accurate simulation and prediction of power loss and noise from electromagnetic interference (EMI). This model will reduce the error rate by 95 percent and reduce simulation time.


• September 2019: Rohm Co., Ltd. announced the addition of automotive-grade 1200V-rated IGBT for switching circuits and inverter. This RGS series is ROHM’s lineup for AEC-Q101-compliant IGBTs in both 1200V-rated and 650V-rated variants, which is helping to reduce the size and improve the efficiency of the appliances.