June 18, 2024
IGBT and Super Junction MOSFET Market

Igbt And Super Junction Mosfet Market To Flourish With Rapid Development Of Ev And Renewable Energy Sectors

The IGBT and Super Junction MOSFET market is primarily driven by the increasing deployment of EVs and growing renewable energy infrastructure. IGBTs and MOSFETs find widespread applications in power electronics, automotive, consumer electronics among others owing to their advantages such as high voltage blockage capability, fast switching, and high conduction current.

The global IGBT and Super Junction MOSFET market is estimated to be valued at US$ 18637.33 Mn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2030.

IGBTs and MOSFETs have emerged as the preferred choice for designing the power train of electric vehicles. They provide high power handling capability, improved efficiency and help miniaturize power electronics in EVs. The rising environmental consciousness and government push for sustainable mobility has boosted electric vehicle sales significantly. Countries are also offering subsidies and tax rebates to promote EVs. This, coupled with declining battery prices is expected to boost the adoption of EVs thereby augmenting demand for IGBTs and super junction MOSFETs in the coming years.

Key Takeaways

Key players operating in the IGBT And Super Junction MOSFET Market are Pfizer Inc. (U.S.), ARGON MEDICAL (U.S.), Edwards Lifesciences Corporation (U.S.), BD (U.S.), Alcaliber S.A. (Spain), Lupin Pharmaceuticals, Inc. (India), Vitaltec Corporation (China), Medtronic (U.S.), Koninklijke Philips N.V. (The Netherlands), Siemens Healthcare GmbH (Germany), Hitachi Medical Corporation (U.S.), and Canon Medical Systems Corporation (Japan). These players are focusing on investments in R&D and new product launches to consolidate their market position.

The rising focus on renewable energy integration and energy storage technologies also presents significant growth opportunities. Policies supporting solar and wind energy adoption are augmenting investments in energy storage solutions like batteries. This will further drive demand for power electronics components like IGBTs and MOSFETs used in renewable energy infrastructure.

Asia Pacific currently dominates the global market and is expected to continue its dominance during the forecast period. This can be attributed to presence of key IGBT and MOSFET manufacturers along with heavy investments into renewable resources by countries like China and India.

Market Drivers

Rapid growth of the electric vehicle industry is one of the major drivers for this market. As governments around the world are pushing for greater EV adoption through subsidies and incentives, the EV market is expected to grow considerably. Since IGBTs and MOSFETs are critical components in EV power trains, their demand will also increase substantially with rising EV sales. Additionally, growing focus on renewable energy integration and energy storage will further fuel the need for power electronics like IGBTs and MOSFETs.

PEST Analysis
Political: The IGBT And Super Junction MOSFET Market Demand is affected by various government regulations and standards related to semiconductor manufacturing and electronics. Stable political conditions help boost adoption.

Economic: Economic growth, rising electronics demand, availability of finance affect this market. Recession impacts the electronics industry which influences this market demand.

Social: Increasing population, changing lifestyles, growing middle-class population are key factors.

Technological: Advancements in power electronics, focus on enhancing efficiency and reducing size are major drivers. Newer technologies like GaN are replacing existing silicon IGBTs.

In terms of value, the APAC region accounts for the largest share in this market, driven by strong electronics demand from countries like China, Japan, South Korea. North America has emerged as the second largest market owing to presence of major players and rapid adoption of EVs and renewable energy. Europe captures a significant share on account of developed electronics industry and government initiatives promoting greener technologies.

The IGBT and Super Junction MOSFET market is growing most rapidly in Asia Pacific. China’s “Made in China 2025” policy is promoting indigenous semiconductor manufacturing with increased investments in R&D. Japan and South Korea are also major contributors to the regional market growth. Robust growth in renewable energy and electric vehicles adoption across developing nations like India and Indonesia are fueling exponential demand in this region.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.