IGBT And Thyristor Market Size, Share & Trends Analysis Report By Application, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2025

The global IGBT and thyristor market is being driven by the replacement of aging power infrastructure in developed economies and the deployment of smart grids. These products are used for power electronics applications such as controllers, inverters, and power supplies in order to meet the demand of solid-state switching devices. Electricity demand is continuously increasing on account of the rising population. Insulated gate bipolar transistors and thyristors use low switching losses and short switching times of MOSFET to fulfill current electricity demands. It also uses conduction losses and high breakdown voltage in BJT to accomplish high electricity demands. IGBT (Insulated Gate Bipolar Transistor) and Thyristor enable low switching losses and thermal stress resulting in longer life and reliability of electric devices. They are gaining popularity on account of various benefits offered such as high external thermal performance and efficiency.

Increasing offshore wind farms are also expected to favor market growth for the forecast period. Additionally, increasing government initiatives for HDVC installations is further expected to fuel the market demand over the next six years. Lack of technology awareness and high investments is expected to act as a restraint to overall market growth. De-carbonization of power systems may provide new opportunities for market growth.

The IGBT and thyristor market can be segmented on the basis of application. IGBT power applications consist of HVDC and flexible AC transmission system (FACTS). Power is expected to be the key application segment for market growth over the forecast period. FACTS application is used for various functions such as voltage stabilization, maintain power flow control & stability, frequency stabilization, and congestion management, etc. Other applications consist of renewable energy, transportation, motor controls, light dimmer, liquid level regulator, pressure control system, and EV/HEV, etc. Asia Pacific is expected to grow at a considerable rate owing to high spending in the power sector.

Key participants in the IGBT and thyristor market include ABB Ltd, Fairchild Semiconductor International Inc., Fuji Electric Co., Hitachi Ltd., and Infineon Technologies AG. Mergers and acquisitions to expand the product portfolio are expected to be the key success factor for industry participants.