The IGBT (insulated-gate bipolar transistor) and Super Junction MOSFET are semiconductor devices that are widely used in industrial control, digital power conversion, and consumer products applications such as electric vehicles, televisions, refrigerators and air conditioners. IGBT and Super Junction MOSFET are primarily used in switching positions in power conversion circuits. In electric vehicles, they are used in traction motor drives, on-board chargers and DC-DC converters. The rising adoption of electric vehicles is driving the demand for efficient power electronic components like IGBT and Super Junction MOSFET. Electric vehicles are forecast to account for up to 30% of new car sales by 2030 due to increasing environmental awareness and supportive government policies and regulations.
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 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Electric vehicles require efficient power electronic components like IGBT and MOSFET in their powertrain system including motor inverter, DC-DC converter and on-board charger. With more automakers investing in electric mobility and government support through subsidies and incentives, annual electric vehicle sales are projected to cross 6 million units by 2025 from about 2 million units in 2019. Rising Demand for Consumer Electronics: IGBT and Super Junction MOSFET have widespread usage in consumer electronics products such as refrigerators, air conditioners, televisions etc. The exponential growth in the consumer electronics industry driven by factors such as rising disposable incomes, urbanization and digitization is creating considerable demand for power semiconductors.
The IGBT and Super Junction MOSFET market is dominated by the automotive segment, holding around 35% share. IGBT and MOSFETs have widespread adoption in automotive power electronics for controlling electric windows, locks, airbags, infotainment systems and engine control units. Within automotive, electric and hybrid vehicles sub-segment is growing at the fastest pace owing to rising electrification of powertrains which require high power semiconductor devices for integration into battery management and motor control systems.
Political: Governments across regions are supporting electrification of transport through subsidies and incentives for electric vehicles adoption. This is positively impacting the demand for IGBT and MOSFETs from automotive OEMs.
Economic: Rising per capita income and spending power is enabling consumers to opt for premium and luxury vehicles with advanced safety, infotainment and semi-autonomous features which use IGBTs and MOSFETs.
Social: Consumers preference for enhanced connectivity and digitization of vehicles is driving automotive semiconductor content higher.
Technological: Advancements in wide bandgap materials like Silicon Carbide and Gallium Nitride enables IGBT and MOSFETs to operate at higher temperature, voltage and frequency range. This is fueling their adoption in electric vehicle powertrains.
The IGBT And Super Junction MOSFET Market Size is expected to witness high growth. 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 12.% over the forecast period 2023 to 2030.
Asia Pacific region dominates the market currently due to presence of automotive manufacturing hubs and electronic product design clusters in China, South Korea and Japan. Wide acceptance of hybrid and electric vehicles is driving the market higher in this region.
Key players operating in the IGBT and Super Junction MOSFET market are Biogen Inc., AstraZeneca PLC, Pfizer Inc., Novartis International AG, Merck & Co., Inc., Sanofi S.A., F. Hoffmann-La Roche Ltd., Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, Ceregene Inc., BioTime Inc., Stemedica Cell Technologies, Inc., Neuralstem, Inc., and StemCells Inc.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it