IGBT-based power module market: Key market research findings
- Renewable energy and traction industries- largest sectors in APAC to demand IGBTs
- The industrial motor drives segment is the key revenue generating vertical of the market
- Key vendors – Fairchild Semiconductor, Fuji Electric, Infineon Technologies, Mitsubishi, Semikron, and STMicroelectronics
The market research analysts at Technavio predict the global IGBT-based power module market to grow at a CAGR of more than 8% between 2016 and 2020. The growth of this market can be accredited to the growing demand for modular power solutions in renewable energy applications. IGBT-based power modules are used in renewable energy applications such as wind converters and photovoltaic solar energy systems. They are widely used in applications that convert clean energy sources such as photovoltaic and wind energy into usable commercial power. IGBT-based power modules have a high switching frequency, which helps to reduce power consumption, decrease heat dissipation, and conserve energy. During 2015, the global IGBT-based power module market was dominated by the APAC with a market share of around 62%. The market in this region is expected to showcase significant growth during the forecast period owing to a projected increase in the demand for IGBTs from the renewable energy and traction industries.
The new market research report from Technavio presents a breakdown and analysis of the IGBT-based power module segments based on the application.
“The market is currently witnessing an upsurge in the demand for IGBT-based power modules for electric and hybrid vehicles. The necessity for vehicle manufacturers to reduce cost and weight of vehicles while simultaneously improving their performance has led to rapid advances in automotive electrical and electronic design. Japan and the US are the two leading regions in this market. With the increasing number of HEVs and EVs across several countries, the use of such high-power thyristors will rise and contribute to the growth of the market in the coming years,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
The industrial motor drives segment dominates the global market for IGBT-based power module and accounted for more than 50% of the overall market revenue in 2015. An IGBT-based power module is an important component in industrial motor drives and variable speed motor drives. Industrial motor drives are used in high-performance position-controlled applications in robotics. Variable speed motor drives, a type of industrial motor drive, are used to adjust flow rates in pumps. This market segment is likely to undergo substantial growth over the next four years due to the rising adoption of variable speed motor drives.
The key vendors in the global IGBT-based power module market include Fairchild Semiconductor, Fuji Electric, Infineon Technologies, Mitsubishi, Semikron, and STMicroelectronics. The market will see intense competition because of the strong positions of the existing vendors in the market. It’s high entry barriers restrict the entry of several new players. It is expected that the competition among the vendors will intensify during the forecast period with the technological advances in the power semiconductor industry.
A more detailed analysis is available in the Technavio report, Global IGBT-based power module market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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