July 15, 2024
IGBT and Super Junction MOSFET Market

IGBT And Super Junction MOSFET Market Is Expected To Be Flourished By Rapid Adoption Of Electric Vehicles

IGBTs (insulated-gate bipolar transistors) and Super Junction MOSFETs are semiconductor devices used as electronic switches or electronic valves in many electronic systems and power electronic circuits. They are important components for electric vehicles as they enable efficient control of electric motors. IGBTs and Super Junction MOSFETs are commonly used for motor control in various system levels of electric vehicles such as for controlling traction motors, DC-DC converters and onboard chargers. Electric vehicles use battery-powered electric motors rather than internal combustion engines used in conventional vehicles. The rapidly growing adoption of electric vehicles across the world driven by supportive government policies and subsidies to curb emission levels is expected to drive the demand for IGBTs and Super Junction MOSFETs over the coming years.

The global IGBT and Super Junction MOSFET Market is estimated to be valued at US$ 16,178.23 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

IGBT and Super Junction MOSFET Market is Expected to be Flourished by Rapid Adoption of Electric Vehicles

One of the key drivers for the growth of the IGBT and Super Junction MOSFET market is the rapid adoption of electric vehicles globally which is expected to propel the demand for these power semiconductor devices. According to the International Energy Agency (IEA), the global stock of electric passenger vehicles passed 10 million in 2021 and is anticipated to grow over 30% annually over this decade. Various countries have announced plans to phase out internal combustion engine vehicles in favor of electric vehicles to meet their emission reduction targets. For instance, the UK and European countries plan to ban new gasoline and diesel car sales starting 2030 while Norway aims to do so by 2025. This rapid growth of the electric vehicle market will translate into increased demand for IGBTs and Super Junction MOSFETs used in vital traction motor control, battery charging and other systems of electric vehicles. Furthermore, continuous improvements in IGBT and Super Junction MOSFET chip technology improving conductivity and low on-state resistance is enabling design of more efficient and powerful EV systems, further accelerating EV adoption which acts as another driver for growth of this market over the forecast period.

Segment Analysis

The global IGBT and Super Junction MOSFET market can be segmented into IGBT and MOSFET. IGBT accounts for over 65% market share currently due to widespread usage in industrial motor drives and renewable energy applications. IGBT finds usage in applications requiring high voltage handling capability like electric vehicles, solar inverters, and wind turbines.

PEST Analysis

Political: Government support for renewable energy adoption in countries like US, China, India through initiatives like subsidies is driving the market growth.
Economic: Rising disposable income and industrial automation trend is promoting the demand.
Social: Increasing awareness about energy conservation and emissions reduction is positively impacting the adoption of electric vehicles and renewable energy solutions supported by these power devices.
Technological: Advancements in wafer technology to enhance voltage and current handling capabilities along with lower switching losses is propelling the product innovations.

Key Takeaways

The Global IGBT And Super Junction MOSFET Market Size is expected to witness high growth over the forecast period supported by the adoption of renewable energy and automotive electrification. The global IGBT and Super Junction MOSFET Market is estimated to be valued at US$ 16,178.23 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030.

Regional analysis

Asia Pacific accounts for over 45% market share led by China, Japan and India. Presence of prominent solar panel and automotive manufacturers and growing investments in industrial automation makes the region fastest growing.

Key players

Key players operating in the IGBT and Super Junction MOSFET market are Infineon Technologies AG, Vishay Intertechnology, Inc., Mitsubishi Electric Corporation, STMicroelectronics N.V., Fuji Electric Co. Ltd., Toshiba Corporation, Hitachi Power Semiconductor Device Ltd., Fairchild Semiconductor International, Inc., Semikron Elektronik GmbH & Co. KG, and ABB Ltd.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it