The Global IGBT And Super Junction MOSFET Market Growth Accelerated By The Rising Demand For Electric And Hybrid Vehicles

 
IGBT And Super Junction MOSFET Market 

IGBTs (Insulated Gate Bipolar Transistors) and Super Junction MOSFETs are advanced power semiconductor switches that provide high efficiency switching in applications such as electric vehicles (EVs), industrial motor drives and renewable energy systems. They offer advantages like high switching speeds, low conduction and switching losses. The growing popularity of EVs is fueling the demand for power modules and converters based on IGBTs and Super Junction MOSFETs.

The global IGBT and Super Junction MOSFET Market is estimated to be valued at US$ 16178.23 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 key trends:

The rising demand for electric and hybrid vehicles is one of the key trends driving the growth of the IGBT and Super Junction MOSFET market. Automakers are significantly investing in electric mobility to comply with stringent emission norms. IGBTs and Super Junction MOSFETs play a vital role in powering EVs as they are used in onboard chargers, DC-DC converters, motor drivers and other drivetrain components. They provide high energy efficiency during battery charging and discharging cycles. Therefore, the expanding electric drivetrains industry is boosting the consumption of IGBT and Super Junction MOSFET devices.

Segment Analysis
The global IGBT and Super Junction MOSFET market is dominated by the Power Semiconductor Devices segment. This segment accounts for around 60% of the total market share owing to the wide usage of IGBTs and Super Junction MOSFETs in welding machines, induction heating systems, variable frequency drives, pulse width modulation (PWM) converters, uninterruptible power supplies and electric vehicles. Due to the rising demand for energy efficient power electronic devices across industries, the Power Semiconductor Devices segment is expected to witness high growth over the forecast period.

Key Takeaways
The IGBT And Super Junction MOSFET Market Size is expected to witness high growth. 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.

North America dominated the global IGBT and Super Junction MOSFET market in 2023 with a share of over 35%, due to widespread adoption of electric vehicles and energy efficient technologies across industries in countries like the US and Canada. Asia Pacific is projected to be the fastest growing region during the forecast period, owing to rising infrastructural developments and increasing focus of governments on renewable energy generation in major countries like China, India and Japan.

Key players

Key players operating in the IGBT and Super Junction MOSFET market are Biogen Inc., AstraZeneca PLC, Pfizer Inc., Novartis International AG, Merck & Co., Inc., Sanofi S.A., F. Hoffmann-La Roche Ltd., Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, Ceregene Inc., BioTime Inc., Stemedica Cell Technologies, Inc., Neuralstem, Inc., and StemCells Inc. The market is highly competitive with major players adopting strategies like partnerships, expansions, mergers and acquisitions to gain more market share. For instance, AstraZeneca collaborated with Merck & Co. in 2020 for development oncology drugs.

Get more insights on this topic:

https://www.marketwebjournal.com/igbt-and-super-junction-mosfet-market-market-size-and-share-analysis/

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