The 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 12.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
IGBTs (Insulated Gate Bipolar Transistors) and super junction MOSFETs are power semiconductor devices commonly used as switches in many power electronics applications including power supply and conversion systems, motor drives, electric vehicles, and renewable energy systems. IGBT offers higher conductivity than MOSFET and higher voltage handling capability than BJT. Super junction MOSFET provides low on-resistance, fast switching speeds, and high current conduction.
Market Dynamics:
Two major drivers contributing to the growth of IGBT and Super Junction MOSFET market are rapid adoption of electric vehicles worldwide and increasing installation of renewable energy systems. Electric vehicles require efficient power electronic components like IGBTs and MOSFETs for onboard chargers, DC-DC converters, and traction motors. According to the International Energy Agency, the electric car stock is expected to reach 145 million by 2030 up from 10 million in 2020. Rising focus on renewable energy is also fueling the demand as super junction MOSFETs and IGBTs enable efficient energy conversion in solar photovoltaic systems. Additionally, industrial automation and growth in consumer electronics sector involving more usage of power electronics applications are further propelling the IGBT and Super Junction MOSFET market growth over the forecast period.
Segment Analysis
The IGBT and Super Junction MOSFET Market Size can be segmented by product type, end-use industries, and geography. Based on product type, the IGBT (Insulated Gate Bipolar Transistor) sub-segment currently dominates the market. IGBTs have better efficiency and can handle higher voltages compared to conventional bipolar transistors. They experience lower conduction and switching losses than MOSFETs of comparable ratings. This makes them well-suited for applications requiring higher power handling capabilities like motor controls and PV inverters.
PEST Analysis
Political: Government policies and regulations around emission standards are encouraging adoption of electric vehicles. This is driving demand for more efficient power electronics components.
Economic: As global GDP grows, industries like automotive, consumer goods, renewable energy are expanding. This increases need for better power devices to improve energy usage across various applications.
Social: Rising environmental awareness among public is pushing manufacturers to make greener products. Components like IGBTs and super junction MOSFETs aid design of energy efficient systems.
Technological: Continuous R&D is helping reduce sizes of power semiconductors while enhancing their voltage and current ratings. New iterations have lower losses and offer designers more flexibility.
Key Takeaways
The global IGBT and Super Junction MOSFET market is expected to witness high growth, exhibiting CAGR of 12.% over the forecast period, due to increasing demand for electric vehicles and renewable energy systems. Asia Pacific dominated the market in 2023, accounting for around 35% share. China, Japan and South Korea are major country markets due to large automotive and electronics manufacturing bases.
Regional analysis shows that Asia Pacific region will continue leading the market over the next decade supported by large EV and solar markets in China. Governments are promoting domestic manufacturing of EV components which will boost semiconductor demand.
Key players operating in the IGBT and Super Junction MOSFET market are Infineon Technologies AG, Vishay Intertechnology, Inc., Mitsubishi Electric Corporation, STMicroelectronics N.V., Fuji Electric Co. Ltd., Toshiba Corporation, Hitachi Power Semiconductor Device Ltd., Fairchild Semiconductor International, Inc., Semikron Elektronik GmbH & Co. KG, and ABB Ltd. Major players are investing significantly in R&D and expanding production capacities especially in Asia to cater growing requirements.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
