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IGBTs and Thyristors Market Trends

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

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IGBTs and Thyristors Market Trends

EVs are gaining traction in the IGBTs and thyristors industry. Devices which serve as semi-conductors have an important part to play in electric power systems of EVs/HEVs, aiding efficient conversion of energy as well as motor control. All these semiconductors in different components used for electric or hybrid cars like traction inverters, onboard chargers and DC-DC converters convert the battery’s dc power into ac power to drive electric motors and act as a charge/discharge management tool. For instance, Renesas Electronics Corporation launched Silicon Insulated Gate Bipolar Transistors (Si-IGBTs) AE5-generation IGBTs used in EV inverters in August 2022. It allows manufacturers to reduce battery usage and improve their vehicles’ endurance because it has a 10% reduction in power losses.

IGBT and thyristors market report shows that smart grid infrastructure is being adopted to modernize and enhance efficiency of electric power systems, which is one of the most significant factors driving this market. These are crucial components in every smart grid infrastructure because they allow for voltage regulation, power conditioning as well as grid stabilization. To make their electrical grids smarter & more resilient, electric utilities and grid operators worldwide have started upgrading them through advanced semiconductor-based technologies that can meet the challenges of smart grid applications.

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.