by Insulated Gate Bipolar Transistors (IGBTs) and Super Junction MOSFETs are semiconductor devices widely used as switches or rectifiers in electric vehicles and renewable energy applications. IGBTs provides high efficiency switching in medium to high-power applications like solar photovoltaic inverters, electric vehicles, and industrial motor drives. Super Junction MOSFETs are used in high-frequency switching power supplies and DC-DC converters. The increasing adoption of renewable energy sources and electric vehicles due to growing awareness about environmental protection has fueled the demand for 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:
As IGBTs and Super Junction MOSFETs are predominantly used in solar photovoltaic inverters and wind turbines that convert the direct current produced from solar panels and wind turbines respectively into alternating current, the rise in investments in renewable energy sources is augmenting the demand for these power semiconductor devices. Furthermore, renewable energy generation, particularly solar power, is becoming competitive with coal and natural gas power generation which is also contributing to the growing renewable sector and thereby increasing the sales of IGBTs and Super Junction MOSFETs globally.
SWOT Analysis
Strength: IGBT and Super Junction MOSFETs are more efficient compared to conventional silicon MOSFETs or IGBTs. They are able to handle high currents at high switching frequencies.
Weakness: Designing IGBT and Super Junction MOSFETs is a complex process that requires advanced manufacturing facilities which increases production costs.
Opportunity: Increasing adoption of electric vehicles and renewable energy sources is driving the demand for more efficient power electronics and semiconductor devices like IGBTs and Super Junction MOSFETs.
Threats: Availability of alternative technologies like GaN power semiconductors poses a threat to the growth of IGBT and Super Junction MOSFET market.
Key Takeaways
The IGBT And Super Junction MOSFET Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market is estimated to reach US$ 16178.23 Mn in 2023 and projected to grow at a CAGR of 12% during the forecast period.
Regional analysis
Asia Pacific region dominated the global market in 2022 owing to presence of major players and highest adoption of electric vehicles and renewable energy sources in countries like China and India. Counties in this region are focusing on expanding their power electronics manufacturing capabilities which is driving the demand for IGBT and Super Junction MOSFETs.
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.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
