The IGBT device is basically used as switches in electronic applications. The current is pass through this devices when they are in an active state (on mode) and stop when in off mode. The prime benefit of devices is they come with unmovable components and fast switching factor.
The IGBT semiconductor devices have the ability; to transform high rate of energy in a minimum period of time. In view of this growth, ‘Market Research Future’ recently gave out the market insights till 2023. According to this MRFR analysis, the global IGBT market is expected to reach USD $11 billion and to grow at CAGR of 9% during the forecast period.
Currently, the growth rate of global warming is a major concern for many regions across the globe. Looking at this issue many governments, have taken necessary action to control this environmental issues. On another side, the oil prices are growing rapidly. Therefore many players across the country have launched the hybrid electric vehicles and electric vehicles.
Looking at demand for hybrid electric vehicles and other electric vehicles across the globe. Is one of the factors for growth of IGBT industry. These vehicles will run on IGBT semiconductor devices, they are known for converting DC to AC at faster rate. Due to which adequate amount of oil can consume. No environmental pollution. IGBTs play a vital part in electric vehicles. They effortlessly transfer power to the grid at a constant speed.
Apart from this, the applications such as high voltage and moderate speed preferred the IGBT device. Because they have following characteristics, low on-resistance, relatively fast switching ability, high voltage capability and with zero gate drive current combination. All these factors makes the IGBT devices as good option and contributing in industry expansion.
Global IGBT Market is fragmented on the basis of type, power rating, applications, and geography. The only one type is there known as Module. Then power rating which has only one segment Medium power. The applications are Energy & Power, Inverter & UPS, and Industrial Systems. Out which inverter and UPS sector is expected to grow in coming years.
The geography analysis of IGBT market in Asia-Pacific, North America, Europe and Rest of the World is as follows. Asia-Pacific region is leading the market with maximum market share. The Asia Pacific utilizing advance technology and new solution for renewable energy resources. The development in countries like china and Japan market is also expected to grow for IGBT devices. The Europe region is dominating the present global IGBT market in terms of market value with Germany and U.K leading the market growth.
Key players are approaching new techniques so that they can offer this technology at a more affordable price with advanced functionality. The same would improve market performance. Heavy investments are made by major players in the R&D sector.
The prominent players in the IGBT market are – Fairchild Semiconductor International, Inc. , Fuji Electric Co. Ltd..,ABB Ltd. , Danfoss A/S , STMicroelectronics N.V. , and Toshiba Corporation.
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