IGBT Market Will Witness Market Growth Due to Increasing Government Support for EV/HEVs | Technavio

Technavio has announced its latest market research report titled Global IGBT Market 2020-2024 (Graphic: Business Wire)

LONDON--()--The global IGBT market size is poised to grow by USD 3.77 billion during 2020-2024, progressing at a CAGR of about 9% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

One of the key factors that will drive the growth of the IGBT market, are the initiatives taken by the government to control the rising environmental concerns and oil prices that are driving the shift to electric vehicles. It is estimated that EVs and HEVs can lower oil consumption by more than one-third by 2020 as electricity is cheaper, these vehicles provide a big cost advantage over gasoline and petroleum. Electric motors provide quiet, smooth operations and require less maintenance than combustion engines. IGBT is a vital component that is needed to minimize switching loss and maximize thermal efficiency. With these advantages and the increasing popularity of electric vehicles coupled with government initiatives, this IGBT market will grow significantly during the forecast period.

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Report Highlights:

  • The major IGBT market growth came from the IGBT module segment. A single module consists of several discrete IGBTs, making them more compatible with high power.
  • APAC was the largest IGBT market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the fast pace of industrialization in developing countries of the region and the increasing adoption of renewable energy and EVs.
  • The global IGBT market is concentrated. Fuji Electric Co. Ltd., Hitachi Ltd., Infineon Technologies AG, Littelfuse Inc., Mitsubishi Electric Corp., ON Semiconductor Corp., Renesas Electronics Corp., SEMIKRON Elektronik GmbH & Co. KG, STMicroelectronics NV, and Toshiba Corp, are some of the major market participants. To help clients improve their market position, this IGBT market forecast report provides a detailed analysis of the market leaders.
  • As the business impact of COVID-19 spreads, the global IGBT market 2020-2024 is expected to have negative impact. As the pandemic spreads in some regions and plateaus in other regions, we continue to revaluate the impact on businesses and update our report forecasts.

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Government Policies will be a Key Market Trend

Across the world governments in various countries are implementing policies such as energy performance labels, energy performance standards to ensure environmental safety, general awareness programs, reduced consumption of energy, and lower utility bills for consumers. These policies and the rise in the cost of energy have compelled manufacturers to take measures to develop energy-efficient products, which is one of the key IGBT market trends. This will increase the demand for IGBT resulting in the growth of this market during the forecast period.

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IGBT Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist IGBT market growth during the next five years
  • Estimation of the IGBT market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the IGBT market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of IGBT market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019-2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • IGBT modules - Market size and forecast 2019-2024
  • Discrete IGBTs - Market size and forecast 2019-2024
  • Market opportunity by Product

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • EV/HEVs - Market size and forecast 2019-2024
  • Industrial - Market size and forecast 2019-2024
  • Motor drives - Market size and forecast 2019-2024
  • Consumer appliances - Market size and forecast 2019-2024
  • Others - Market size and forecast 2019-2024
  • Market opportunity by Application

Customer Landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Fuji Electric Co. Ltd.
  • Hitachi Ltd.
  • Infineon Technologies AG
  • Littelfuse Inc.
  • Mitsubishi Electric Corp.
  • ON Semiconductor Corp.
  • Renesas Electronics Corp.
  • SEMIKRON Elektronik GmbH & Co. KG
  • STMicroelectronics NV
  • Toshiba Corp.


  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The IGBT Market will grow by $ 3.77 bn during 2020-2024


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/