According to the new research report published by The Insight Partners, titled “IGBT and Thyristor Market”, published by The Insight Partners, the market was valued at US$ 5.15 billion in 2019 and is projected to reach US$ 6.96 billion by 2027; it is expected to grow at a CAGR of 4.1% from 2020 to 2027.
SeveralIGBT manufacturers, as well as HVDC providers, are aiming to deploy their solutions in APAC. For instance, in 2019, ABB Ltd. won a contract worth US$ 640 million from Power Grid Corporation of India Limited, the country’s national electricity grid operator. As per the contract, ABB is projected to supply an 800 kilovolt (kV) ultra-high-voltage direct current transmission link of more than 1,800 km to provide electricity to over 80 million people. Furthermore, India is the fastest-growing country for IGBT and Thyristor owing to rising population and growing infrastructure. In the SAM region, In 2019, Brazil accounted for the largest market share due to rising investments in power transmission because of increasing urbanization.
East Asia, which includes Mainland China, South Korea, Japan, and Taiwan, has the presence of most significant semiconductor players across the globe. The region has become a hub for the semiconductor industry. China, particularly, commands a notable share in the global IGBT and Thyristor market value. China also aims to a self-sufficient semiconductor industry as well as ascents to become a world powerhouse. On the other hand, Japan is a major supplier of semiconductor materials, special semiconductors, and high-end equipment. The presence of the well-established semiconductor industry is expected to boost the demand for IGBTs and thyristors in the region.
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Power electronic devices including insulated gate bipolar junction transistor (IGBT), metal oxide silicon field effect transistor (MOSFET), integrated gate commutated thyristor (IGCT), gate turn off thyristor (GTO), and triode as an AC switch (TRIAC) have a high current carrying and voltage handling capacity. They have higher switching frequencies that are useful for frequency control and voltage magnitude conversion. These devices are primarily used in converters and are able to control the power flow. The smart grid has become the biggest technological revolution in the past years. The smart grid is a highly automated, integrated, technology-driven, and modernized grid compared with the conventional grid. The smart grid is expected to play a major role in transforming the electrical networks, along with power system operation during the forecast period.
Furthermore, the region has a presence of robust EV manufacturing. There were over 450 EV manufacturers registered in China in 2019. A few major EV R&D and manufacturing players in China includes FAW, SAIC, BAIC, Chery, and Dongfeng. In 2018, the country manufactured and sold ~1.2 million plug-in EVs. Other countries such as India, Indonesia, Thailand, and Malaysia are also focusing on their EV manufacturing industry, which is expected to bolster the IGBT and thyristor market.
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