The global IGBT market 2020 can advance at a robust pace of 12.5% over the forecast period (2017 to 2023), projects Market Research Future (MRFR).

Regional Insight

The region-based segments in IGBT Market Size are Europe, North America, Asia Pacific (APAC), and, the Rest of the World (RoW).

MRFR anticipates that IGBT market share in APAC can increase at the fastest CAGR, as a result of the surging focus on renewable energy, power transmission, and the increasing use of IGBT in electric vehicles. Also, the growing IT expenditures in emerging countries like India, Japan, South Korea and China to fulfill storage needs of the end-users can promote the market growth in the region.

North America retains the biggest share in the IGBT market, with the region’s dominance being the outcome of the high awareness and increased implementation of renewable energy resources. Europe comes in second in the global market and can showcase moderate growth during the projection timeline. The presence of leading companies and the heavy investments in research and development are some of the top factors inducing the market growth in Europe.

The IGBT market growth in MEA is poised to be steady during the assessment period, thanks to the increasing efforts by manufacturers to develop superior quality products and the surge in the number of government initiatives pertaining to low energy consumption devices.

Leading Contenders

The leading contenders helping the IGBT market size expand across the globe are ON Semiconductor (U.S.), Hitachi Ltd. (Japan), ABB Ltd. (Switzerland), Renesas Electronics Corporation (Japan), Infineon Technologies AG (Germany), Mitsubishi Electric Corporation (Japan), Fuji Electric Co. Ltd (Japan), ROHM Co. Ltd. (Japan), NXP Semiconductors N.V (the Netherland), SEMIKRON International GmbH (Germany), STMicroelectronics N.V. (Switzerland), Toshiba Corporation (Japan), to name a few.

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