February 23, 2024
IGBT and Super Junction MOSFET Market

IGBT And Super Junction MOSFET Market Is Expected To Be Flourished By Growing Adoption In Electric Vehicles

The insulated-gate bipolar transistor (IGBT) is a semiconductor device used as an electronic switch or in large numbers, as a switch in energy conversion applications like electric vehicles and motor control. IGBTs are primarily used in switched-mode power supplies, electric vehicles, variable speed motor drives and other industrial applications.

The global IGBT and Super Junction MOSFET market is estimated to be valued at US$ 16178.23 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Growing adoption in electric vehicles presents as a key opportunity for the growth of the IGBT and Super Junction MOSFET market over the forecast period. IGBT modules play a critical role in electric vehicles as they are widely utilized in traction inverters as well as onboard chargers. Traction inverters use high voltage IGBT modules to convert the DC power from the battery packs into three-phase AC power that drives the electric vehicle’s traction motor. The rising sales of electric vehicles globally is consequently expected to drive the demand for IGBT and super junction MOSFETS over the forecast period. Factors such as government subsidies and initiatives along with increasing awareness about emissions are significant factors boosting electric vehicle adoption. According to the International Energy Agency (IEA), around 2.1 million electric cars were registered worldwide in 2020, up 43% from 1.5 million in 2019. China remained the largest electric car market in 2020, with around 1.3 million new registrations.

Segment Analysis

The IGBT and Super Junction MOSFET market can be segmented based on type, application, and region. Based on type, the market is dominated by IGBT modules due to its high power handling capabilities and reliability. IGBT modules accounted for over 60% market share in 2023 on account of wide adoption in industrial motor drives, solar inverters, and electric vehicles.

PEST Analysis

Political: Governments across geographies are formulating policies to promote adoption of electric vehicles and renewable energy sources which is positively impacting the demand for IGBT and Super Junction MOSFETs.

Economic: Growing infrastructure development and increasing investments in transportation and power sectors are augmenting the IGBT and Super Junction MOSFET market growth.
Social: Rising environmental awareness among masses is propelling the demand for green energy solutions and electric mobility, thereby fueling the market.
Technological: Advancements in MOSFET and IGBT device designs with improved speed, efficiency and power handling capabilities are expanding their applications in various end-use industries.

Key Takeaways

The global IGBT And Super Junction MOSFET Market Share is expected to witness high growth over the forecast period of 2023 to 2030. The global IGBT and Super Junction MOSFET market is estimated to be valued at US$ 16178.23 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030.

Asia Pacific region currently dominates the market and is expected to maintain its leading position during the forecast period driven by rapid industrialization and infrastructure development in countries like China and India. Asia Pacific holds over 40% share of the global IGBT and Super Junction MOSFET market in 2024 led by countries like China, Japan and South Korea. Presence of a robust automotive, industrial and electronics manufacturing base in the region is a key factor contributing to its dominance.

Key players related content comprises
Key players operating in the IGBT and Super Junction MOSFET market are Pfizer Inc. (U.S.), ARGON M LTD (Japan), Infineon Technologies (Germany), Mitsubishi Electric (Japan), Nexperia (Netherlands), ON Semiconductor (U.S.), Renesas Electronics (Japan), STMicroelectronics (Switzerland), Vishay Intertechnology (U.S.), and Fuji Electric (Japan). Pfizer Inc. is a leading player in the market attributed to its wide product portfolio and global footprint.

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