PORTLAND, Oregon, October 19, 2016 /PRNewswire/ --
A new report published by Allied Market Research, titled, "Insulated-gate bipolar transistors (IGBTs) Market by type, power rating, and application - Global opportunity analysis and industry forecast, 2014-2022", projects that the world IGBT market would reach $11 billion by 2022. Asia-Pacific dominates the global market, accounting for more than 50% revenue share of the overall IGBT market, followed by Europe.
Summary of Insulated-gate Bipolar Transistors (IGBTs) Market can be accessed on the website at https://www.alliedmarketresearch.com/men-personal-care-market
IGBT module is the foremost device, which is widely used in industries. Currently, rise in demand for higher efficiency, faster switching, and minimal power loss are some of the key driving factors of the market. Moreover, aggrandized need for high voltage operating device is expected to provide huge opportunities to the market players. IGBT module is the leading segment in the global market, and is expected to maintain this trend throughout the forecast period. However, discrete IGBT segment is expected to witness significant growth in the future, owing to its compact size and enhanced efficiency.
High power IGBT segment is projected to maintain its lead in the overall IGBT market, as these modules are used for power transmission in high voltages with minimum current loss. Moreover, Asia-Pacific is the major revenue contributor of this market due to increasing demand for electric vehicles utilizing IGBT for power transaction. China, India, and Japan are the major consumers of IGBT in Asia-Pacific.
Among applications, energy & power segment dominated the global market in 2014, accounting for 23% share. Proactive government initiative to establish smart grids and High Voltage Direct Current (HVDC) has fueled the market growth. However, electric vehicle is anticipated to be the most lucrative application segment, and is expected to grow at a CAGR of 12.1% during the forecast period. This is attributed to increasing demand for power management in electric vehicles. Moreover, Asia-Pacific was the leading revenue contributor to the electric vehicle market in 2014.
Asia-Pacific accounted for majority of the revenue in 2014, and is expected to maintain its dominance throughout the forecast period. This is attributed to rising number of electric vehicles and increasing industry systems, which increase the demand for IGBT. Moreover, advancements in consumer electronic and inverters & UPS would boost the IGBT market, especially in Asian countries such as China, Japan, South Korea, and India.
"High-Voltage IGBTs are integrated in automotive applications, as they enable power management and reduce power leakage. Moreover, they offer several benefits such as high efficiency, reduced system complexity, and minimized system maintenance. IGBT module represents almost 60-62% of the total IGBT market, owing to its resilience and higher efficiency. In addition, substantial growth in the demand for electric vehicles and customer shift towards advanced power semiconductor to achieve better efficiency would promote its adoption in energy & power, inverter & UPS, consumer electronics, and industry systems," states Rakesh Singh, Manager, Research, Semiconductor & Electronics, AMR.
Asia-Pacific is projected to be the fastest growing region throughout the analysis period, owing to increase in focus on power transmission, renewable energy, and adoption of IGBT in electric vehicles. Furthermore, increase in IT expenditures in several countries including China, Japan, India, and South Korea to cater to end-user storage needs have fueled the market growth. Moreover, technological advancements to overcome power loss issues in IGBT would offer lucrative opportunities for the market players.
Key findings of the study:
- In 2014, IGBT module type segment dominated the overall IGBT market in terms of revenue, and is projected to grow at a CAGR of 10.3% during the forecast period
- High power segment is projected to grow at a CAGR of 10.8% during the forecast period
- Electric vehicle segment is expected to exhibit the fastest growth during the forecast period, owing to increasing applications of IGBT in e-bikes and e-cars
- Japan is the major shareholder in the Asia-Pacific IGBT market, accounting for about 34% share
The key players in the IGBT market have focused on expanding their business operations in the fast-growing emerging countries with new product launch as the preferred strategy. The major players profiled in this report include ABB Group, STMicroelectronics N.V., Toshiba Corporation, IXYS Corporation, Renesas Electronics Corp, Semikron International GmbH, Mitsubishi Electric Corp., Infineon Technologies AG, Fuji Electric Co. Ltd., and NXP Semiconductors N.V.
Summary of Similar Reports can be viewed at https://www.alliedmarketresearch.com/semiconductor-and-electronics/semiconductors-market-report
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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SOURCE Allied Market Research