IGBT and Thyristor Market - Global Industry Research Analysis

IGBT and Thyristor Market Insights

According to Market Research Store, the global IGBT and thyristor market size was valued at around USD 12.58 billion in 2023 and is estimated to reach USD 34.21 billion by 2032, to register a CAGR of approximately 10.50% in terms of revenue during the forecast period 2024-2032.

The IGBT and thyristor report provides a comprehensive analysis of the market, including its size, share, growth trends, revenue details, and other crucial information regarding the target market. It also covers the drivers, restraints, opportunities, and challenges till 2032.

To Get more Insights, Request a Free Sample

Global IGBT and Thyristor Market: Overview

IGBT is a semiconductor device that combines the best characteristics of both MOSFETs and bipolar transistors. It offers high efficiency, fast switching, and robustness in power electronics, making it ideal for applications requiring high voltage and current handling. It is widely used in power inverters, motor drives, induction heating, and renewable energy systems like wind and solar power. IGBTs are favored for their ability to operate at high switching speeds with lower switching losses, contributing to energy efficiency in various industrial and commercial applications.

A thyristor is a four-layer semiconductor device used to control high-voltage and high-current signals. It acts as a switch that can rapidly turn on and off in electronic circuits. Unlike transistors, thyristors can maintain their conducting state once triggered until the current is interrupted. They are used primarily in power control applications, including motor control, light dimmers, and in rectifiers for power supplies. Thyristors provide reliable switching at high currents and voltages, especially for applications in electric power transmission and distribution systems.

Key Highlights

• The IGBT and thyristor market is anticipated to grow at a CAGR of 10.50% during the forecast period.
• The global IGBT and thyristor market was estimated to be worth approximately USD 12.58 billion in 2023 and is projected to reach a value of USD 34.21 billion by 2032.
• The growth of the IGBT and thyristor market is being driven by the increasing demand for energy-efficient solutions and the rapid growth of industries like renewable energy, electric vehicles (EVs), industrial automation, and power grids.
• Based on the packaging type, the IGBT module segment is growing at a high rate and is projected to dominate the market.
• On the basis of power rating, the high-power segment is projected to swipe the largest market share.
• In terms of voltage, the 600v-650v segment is expected to dominate the market.
• Based on the application, the power transmission systems segment is expected to dominate the market.
• By region, Asia-Pacific is expected to dominate the global market during the forecast period.

IGBT and Thyristor Market: Dynamics

Key Growth Drivers:

• Renewable Energy Growth: The increasing adoption of solar and wind power systems drives demand for IGBTs and thyristors in power conversion and grid integration applications.
• Electric Vehicle (EV) Revolution: The rapid growth of the EV market fuels demand for IGBTs in powertrain systems, battery charging infrastructure, and grid stabilization.
• Industrial Automation: The rising need for automation in manufacturing and other industries increases demand for IGBTs and thyristors in motor drives, robotics, and industrial heating systems.
• Smart Grid Development: The deployment of smart grids requires efficient power electronics components like IGBTs and thyristors for grid modernization and energy management.

Restraints:

• High Costs: The high cost of IGBTs and thyristors can limit their adoption in certain applications, especially in cost-sensitive markets.
• Reliability Concerns: Concerns about the reliability and longevity of these devices, particularly in harsh operating environments, can hinder widespread adoption.
• Thermal Management Challenges: Effective thermal management is crucial for ensuring the performance and lifespan of IGBTs and thyristors, which can be challenging in high-power applications.

Opportunities:

• Advancements in Wide Bandgap Semiconductors: The development of wide bandgap semiconductors like silicon carbide (SiC) and gallium nitride (GaN) offers opportunities for more efficient and powerful IGBTs and thyristors.
• Internet of Things (IoT) Integration: Integrating IoT capabilities into IGBT and thyristor-based systems can enable remote monitoring, predictive maintenance, and improved energy efficiency.
• Emerging Applications: Exploring new applications in areas such as data centers, aerospace, and defense can open up new growth avenues for the market.

Challenges:

• Competition: Intense competition from established players and new entrants can put pressure on pricing and profitability.
• Technological Advancements: Keeping pace with rapid technological advancements in power electronics requires continuous research and development investments.
• Supply Chain Disruptions: Global supply chain disruptions can impact the availability and cost of raw materials and components, affecting production and market dynamics.

IGBT and Thyristor Market: Report Scope

IGBT and Thyristor Market: Segmentation Insights

The global IGBT and thyristor market is divided by packaging type, power rating, voltage, application, and region.

Segmentation Insights by Packaging Type

Based on packaging type, the global IGBT and thyristor market is divided into IGBT discrete and IGBT module.

In the IGBT and thyristor market, the IGBT Module segment is the most dominating, primarily due to its application in industries requiring high power and efficiency, such as renewable energy, electric vehicles (EVs), industrial motor drives, and power grids. The IGBT modules are designed to handle higher current and voltage capacities, making them ideal for heavy-duty applications. These modules typically integrate multiple IGBTs, diodes, and other components into a single package, offering enhanced reliability, thermal management, and performance. They are commonly used in inverters, power supplies, and industrial systems where space optimization and high-performance capabilities are crucial.

The IGBT Discrete segment, while less dominant, still holds significant importance in various niche applications. These discrete IGBT devices are more compact and simpler in design compared to IGBT modules, making them suitable for lower power applications. They are often used in smaller power devices, consumer electronics, and in systems where high-speed switching is required with moderate current handling capabilities. Though they don't offer the same level of integration and power capacity as IGBT modules, IGBT discretes are favored in applications that prioritize space-saving and cost-effectiveness. They are also used in automotive electronics, LED drivers, and smaller power supplies, where modular solutions may be unnecessary.

Segmentation Insights by Power Rating

On the basis of power rating, the global IGBT and thyristor market is bifurcated into medium-power, low-power, and high-power.

In the IGBT and thyristor market, the High-Power segment is the most dominant, driven by the increasing demand for power electronics in industrial sectors, renewable energy, and electric vehicles. High-power IGBTs and thyristors are essential in applications that require the handling of large amounts of energy, such as power grids, traction systems in railways, and electric vehicle inverters. These devices can manage high voltage and current, providing efficient power conversion and regulation in demanding environments. High-power devices are crucial in large-scale applications like industrial motor drives, wind and solar power generation, and transmission systems, where performance and reliability are paramount.

The Medium-Power segment comes next in terms of dominance. These IGBTs and thyristors are used in applications where power requirements are significant but not as extreme as those in the high-power sector. Medium-power devices are typically employed in industrial machinery, HVAC systems, and renewable energy applications like medium-scale solar inverters and electric vehicle charging stations. They offer a balance between efficiency and cost, handling moderate power levels while still providing high switching capabilities and thermal stability for intermediate power needs.

The Low-Power segment, while crucial, is the least dominant in the IGBT and thyristor market. Low-power IGBTs and thyristors are used in consumer electronics, smaller motor drives, and low-power power supplies. These devices are designed to handle lower current and voltage levels, making them suitable for applications in electronics such as LED drivers, home appliances, and small-scale industrial equipment. Despite being less dominant in terms of market share, low-power devices are still indispensable in the broader electronics ecosystem, offering cost-effective solutions for low-power applications.

Segmentation Insights by Voltage

In terms of voltage, the global IGBT and thyristor market is categorized into below 400v, 600v-650v, 1,200v-1,700v, 2,500v-3,300v, and >4,500v.

In the IGBT and thyristor market, the 600V-650V segment is the most dominant. This voltage range is widely used in various applications, including industrial motor drives, consumer electronics, and power supplies. Devices within this range offer a good balance of power handling and efficiency, making them ideal for medium-power applications such as UPS (Uninterruptible Power Supplies), motor control, and battery charging systems. They are also commonly found in electric vehicles (EVs), where their performance and compact size are essential for handling the power conversion required for drivetrains and battery systems.

The Below 400V segment is also quite significant, especially in low-power applications. IGBTs and thyristors in this voltage range are widely used in consumer electronics, low-voltage power supplies, and LED drivers. These devices are typically used in small power conversion systems where high voltage is not required but efficient switching and thermal management are still important. Their compact nature and cost-effectiveness make them suitable for various home appliances and low-voltage DC systems.

The 1,200V-1,700V segment is essential for medium to high-power applications, particularly in industrial machinery, renewable energy systems, and electric trains. These IGBTs and thyristors are used in applications where the voltage and power requirements are higher, such as in inverters for solar power, electric vehicles, and railways. They provide excellent efficiency and switching capabilities, which are critical for high-performance industrial systems that need to handle substantial electrical loads with stability and reliability.

The 2,500V-3,300V segment caters to heavy-duty industrial applications, including power transmission, large-scale industrial equipment, and high-voltage traction systems. These devices are used in applications like high-voltage inverters, electric grid systems, and industrial motor drives, where the voltage and power requirements are considerably higher than in the lower-voltage segments. Their ability to manage high voltages makes them essential for high-power conversions and systems requiring extreme reliability and precision.

The >4,500V segment, while the least dominant, plays a crucial role in very high-power and critical infrastructure applications, such as power plants, large-scale industrial machinery, and high-voltage transmission systems. These IGBTs and thyristors are designed to handle exceptionally high voltage levels and are used in specialized power systems where safety, durability, and performance are crucial. Their applications are typically limited to specific industries where ultra-high-voltage switching is necessary for large-scale energy generation and distribution.

Segmentation Insights by Application

On the basis of application, the global IGBT and thyristor market is bifurcated into power transmission systems, renewable energy, rail traction systems, uninterrupted power supply, consumer electronics, electric vehicles & hybrid electric vehicles, and motor drives.

In the IGBT and thyristor market, the Power Transmission Systems application is the most dominant. This is because IGBTs and thyristors are essential in the conversion and control of high-voltage electrical power in transmission networks. They are crucial for voltage regulation, energy distribution, and efficient power management in grid systems, ensuring stable and reliable electricity supply. The ability of these devices to handle high power and switch efficiently makes them indispensable for large-scale energy infrastructure, particularly in high-voltage direct current (HVDC) and flexible AC transmission systems (FACTS).

The Renewable Energy sector follows as a significant application area, driven by the growing emphasis on solar and wind energy systems. IGBTs and thyristors are extensively used in inverters that convert DC power generated by solar panels or wind turbines into AC power for the grid. These devices help improve the efficiency and performance of renewable energy systems, facilitating power conversion and enhancing the integration of renewable sources into the electrical grid. Their high efficiency and fast switching capabilities are crucial for optimizing energy production in renewable applications.

Rail Traction Systems represent another key application segment, particularly for electric trains and locomotives. IGBTs and thyristors are used to manage the high-voltage power needed for traction systems, allowing for smooth acceleration, braking, and efficient power conversion. These devices are responsible for controlling the power delivered to the train motors, ensuring optimal performance and energy efficiency. As railways shift to more electric and sustainable power solutions, the demand for advanced power electronic devices like IGBTs and thyristors in rail traction systems is growing.

The Uninterrupted Power Supply (UPS) application is also quite significant. IGBTs and thyristors play a critical role in UPS systems, which provide backup power during grid outages. These devices are used in the power conversion and regulation stages of UPS systems, allowing them to efficiently convert and stabilize power from DC sources like batteries to AC power for critical loads. In industries and data centers, where power reliability is essential, these devices are integral for maintaining operational continuity during power disruptions.

The Consumer Electronics sector, while important, is less dominant compared to other industrial applications. IGBTs and thyristors in consumer electronics are typically used in power supplies, LED drivers, and smaller home appliances that require efficient power management and conversion. Their compact size and cost-effectiveness make them ideal for a range of consumer devices that need reliable switching and low power loss.

Electric Vehicles & Hybrid Electric Vehicles are a growing application area for IGBTs and thyristors. These devices are used in the power control systems of electric and hybrid vehicles, handling the conversion between battery power (DC) and the motor drive system (AC). They help improve the efficiency and range of EVs by enabling smooth and efficient power switching, enhancing battery life, and providing effective motor control. As the automotive industry shifts towards electric and hybrid vehicles, the demand for high-performance IGBT and thyristor devices continues to rise.

Finally, Motor Drives represent a crucial segment in the industrial and commercial sectors. IGBTs and thyristors are used in motor drives to control the speed, torque, and direction of electric motors. These devices are essential in applications ranging from HVAC systems to industrial robotics, where precise control and energy efficiency are required. The ability to switch power at high frequencies with low losses makes them ideal for motor control systems, contributing to energy savings and improved performance.

IGBT and Thyristor Market: Regional Insights

• Asia-Pacific is expected to dominates the global market

The Asia-Pacific region dominates the global IGBT and thyristor market due to rapid industrialization, urbanization, and infrastructure development. Countries like China, Japan, and India are significant contributors, with strong investments in power electronics and renewable energy projects. The region's increasing demand for efficient power transmission systems to address growing power supply needs further boosts the market.

North America holds a substantial share of the market, driven by its established infrastructure and technological advancements. The region is focused on enhancing energy efficiency and sustainability, which has increased demand for advanced power electronics solutions. The growing adoption of electric vehicles and renewable energy systems further supports the market's expansion.

Europe is another key region for the IGBT and thyristor market, with a strong emphasis on integrating renewable energy and smart grid technologies. The European Union's energy policies and initiatives foster the adoption of efficient power electronics, creating a favorable environment for market growth. The region's commitment to sustainable energy and technological progress in power electronics strengthens the market.

The Middle East and Africa are experiencing increasing investments in power infrastructure, industrial automation, and renewable energy projects. The demand for IGBT and thyristor technologies in sectors such as electric vehicles, solar inverters, and smart grids is driving market growth. Economic development and government support for clean energy solutions contribute to the region's market expansion.

South America is witnessing growing demand for IGBT and thyristor technologies, particularly in the automotive, electronics, and energy industries. The region's economic growth, along with government initiatives to promote clean energy, is boosting the adoption of renewable energy and industrial automation technologies, thereby driving the market forward.

IGBT and Thyristor Market: Competitive Landscape

The report provides an in-depth analysis of companies operating in the IGBT and thyristor market, including their geographic presence, business strategies, product offerings, market share, and recent developments. This analysis helps to understand market competition.

Some of the major players in the global IGBT and thyristor market include:

• Fuji Electric
• Infineon Technologies
• ON Semiconductor
• Hitachi
• Mitsubishi Electric
• Littelfuse (IXYS)
• Toshiba
• SEMIKRON
• Danfoss
• STARPOWER SEMICONDUCTOR
• STMicroelectronics
• Renesas Electronics Corporation
• ABB Ltd

The global IGBT and thyristor market is segmented as follows:

By Packaging Type

• IGBT Discrete
• IGBT Module

By Power Rating

• Medium Power
• Low Power
• High-Power

By Voltage

• Below 400V
• 600V-650V
• 1,200V-1,700V
• 2,500V-3,300V
• >4,500V

By Application

• Power Transmission Systems
• Renewable Energy
• Rail Traction Systems
• Uninterrupted Power Supply
• Consumer Electronics
• Electric Vehicles & Hybrid Electric Vehicles
• Motor Drives

By Region

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • France
  • Germany
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• The Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East Africa

Frequently Asked Questions