The [FURL=https://www.industryarc.com/Report/15423/insulated-gate-bipolar-transistor-igbt-market.html] Insulated Gate Bipolar Transistor Market [/FURL] is forecast to reach $11 billion by 2025, growing at a CAGR of 8% in the period 2019-2025. IGBT has been witnessing significant growth in automotive sector, owing to adoption of electric vehicle. The reduction in the cost of electric vehicle due to technological advancement and the reduced battery price has increased the demand for electric vehicle since 2016. The production of electric vehicle is expected to increase by 28% during 2018-2022, that will account for the sale of 14.8 million electric vehicle by 2020.Key Takeaways
Implementation of new policies such as credit score on manufacturing of the electric vehicles and new government regulations for the reduction of the CO2 is anticipated to increase the production of the electric vehicle which is set to increase the usage of IGBT which will impact the growth of IGBT market.
The increasing focus and investments in R&D for new IGBT chip and module which helps in reducing the power consumption, and improve chip density, thermal resistivity and efficiency would further strengthen the position of IGBT market.
APAC holds a major share of IGBT market. The growth of the market is this region is driven by the increasing number of startups which are focusing on introducing new technologies which will enhance the performance of the battery of the EVs is driving the IGBT market.
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Insulated Gate Bipolar Transistor Market Segment Analysis - By Geography
APAC IGBT market is analyzed to witness the highest growth rate during 2019-2025. The IGBT market in this region is mainly driven by the rising production of electric vehicles. In 2018, the production of the electric vehicle in this region has grown by 75% as compared to 2016. Governments in countries like India, China, and Japan are promoting electric vehicle through various programs. For instance, in 2019, China government is in plans to introduce a credit system, wherein automakers are required to earn credits on EV production, if they wish to manufacture conventional vehicle. The increasing production of the EVs in the country will increase the use of the IGBT and will have a positive impact on the market.
Insulated Gate Bipolar Transistor Market Drivers
Increased production of electric vehicles due to stringent emission norms and improved charging infrastructure:
Market Landscape
The major players in the IGBT market are Renesas Electronics Corporation, Infineon Technologies AG, Fuji Electric Co. Ltd., ROHM Co. Ltd., SEMIKRON International GmbH, Mitsubishi Motors Corporation, Toshiba Corporation, Hitachi, Ltd. and other.
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