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IGBTs and Thyristors Market Size

Report ID: GMI8896
Published Date: Apr 2024
Report Format: PDF

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IGBTs and Thyristors Market Size

IGBTs and Thyristors Market was valued at over USD 5.5 billion in 2023 and is estimated to register a CAGR of over 2% between 2024 and 2032. For IGBTs (Insulated Gate Bipolar Transistors) and Thyristors, wind and solar power are now major growth drivers. The world is going towards clean forms of energy hence there is increased demand for efficient power conversion and control technologies which can be used to integrate renewable energy systems with the existing grid. IGBTs and Thyristors are vital in renewable energy applications because they convert direct current produced by solar panels and wind turbines into usable alternating current that goes through transmission lines.

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IGBTs and thyristors market is growing rapidly due to urbanization and infrastructure development. Modernized infrastructure such as intelligent buildings, transportation systems, and energy grids are envisaged as a way of dealing with the global rise in urban population. For these infrastructures to have efficient energy management, control and distribution, they will need advanced power electronic solutions. Some of the essential applications for IGBTs and thyristors include Electric Vehicles (EVs), renewable energy systems, smart grids, and industrial automation.

IGBTs and Thyristors Market Report Attributes
Report Attribute	Details
Base Year:	2023
IGBTs and Thyristors Market Size in 2023 :	USD 5.5 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	2%
2032 Value Projection:	USD 7 Billion
Historical Data for:	2018 to 2023
No. of Pages:	230
Tables, Charts & Figures:	362
Segments covered:	Voltage, packaging type, application, region
Growth Drivers:	Renewable energy expansion Growth of Electric Vehicles (EVs) and Hybrid Electric Vehicles (HEVs) Smart grid infrastructure Emerging applications in automotive electronics Urbanization and infrastructure development
Pitfalls & Challenges:	Complexity of drive circuitry Thermal management challenges

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Thermal management is a hurdle in the IGBTs and thyristors market since a high level of heat is generated during operation. This heat dissipation, if not managed well, can result in degraded performance as well as reliability problems. Inadequate thermal management can lead to thermal runaway whereby temperatures exceed safe operating ranges, eventually leading to device failure.

Authors: Suraj Gujar , Sandeep Ugale

Frequently Asked Questions (FAQ) :

Industry size for IGBTs and thyristors recorded USD 5.5 billion in 2023 and is expected to register over 2% CAGR from 2024 to 2032, owing to the rising demand for energy-efficient power electronics, growth in renewable energy generation, and expanding automotive and industrial sectors.

The IGBT module segment in the IGBTs and thyristors industry accumulated over 67.9% market share in 2023 and is projected to depict substantial growth between 2024 and 2032, due to the growing demand across such sectors as automobile, industrial automation, renewable energy, and consumer electronics.

Asia Pacific industry accounted for 37% market share in 2023 and is expected to expand at significant CAGR from 2024 to 2032, owing to the increasing car proprietorship across countries such as Japan, South Korea, and China, along with improving transportation systems.

Renesas Electronics Corporation, Semikron Danfoss, Diodes Incorporated, Dynex Semiconductor Ltd., Infineon Technologies AG, Hitachi Energy Ltd., Fuji Electric Co., Ltd. some of the major IGBTs and thyristors companies worldwide.