According to Cognitive Market Research, the global IGBT Market size will be USD 8124.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 12.10% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 3249.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.3% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 2437.26 million.
Asia Pacific held a market of around 23% of the global revenue with a market size of USD 1868.57 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.1% from 2024 to 2031.
Latin America's market will have more than 5% of the global revenue with a market size of USD 406.21 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.5% from 2024 to 2031.
Middle East and Africa are the major markets of around 2% of the global revenue with a market size of USD 162.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.8% from 2024 to 2031.
The high power held the highest IGBT Market revenue share in 2024.

Market Dynamics of IGBT Market

Key Drivers of IGBT Market

Increasing Adoption of Electric Vehicles Is Expected to propel the market growth.

The main factor driving the growth of the insulated gate bipolar transistor market is the increasing demand for electric vehicles due to increased awareness about their lower emissions, better fuel efficiency, and other advantages. IGBTs are an essential component of electronic vehicles, and their adoption is driving the growth of the insulated gate bipolar transistor (IGBT) market. Insulated gate bipolar transistors are a highly efficient component of electronic vehicles due to their fast switching characteristics, leading to less power usage and increased mileage. Thus, the demand for insulated gate bipolar transistors is high owing to the increased production of electronic vehicles.

Increasing Awareness About Renewable Energy Sources to Drive the Market Growth?

Renewable energy is becoming increasingly popular due to its lower cost and lower emissions compared to conventional energy sources. Insulated gate bipolar transistors (IGBT) are used in renewable energy applications such as solar and wind power, and their increasing adoption is expected to drive the growth of the market. With increasing industrialization and electrification, there is a significant rise in demand for electricity and efficient power transmission & distribution witnesses across the globe. Thus the government in many countries is focusing on renewable energy sources and developing smart grids.

Restraint Factors Of IGBT Market

Design Complexities to Hamper Market Growth to restrict the market growth

Latch-ups associated with the gate control of an insulated gate bipolar transistor can easily break, causing the device to fail. A slight decrease in the latching current density causes an increase in the ambient temperature and increases the turnoff time. As the transistor enters the latch-up, the gate no longer has any control over the drain current. The forced commutation of the current can be the only way to turn off the IGBT in this situation. If latch-up is not terminated quickly, the excessive power dissipation is likely to destroy the bipolar transistor. This is expected to hamper the market potential.

Impact of COVID-19 on the IGBT Market

The outbreak of COVID-19 across the globe significantly disrupted the supply chain and production of the market studied in the initial phase of the pandemic. Many end-user industries of the market were also affected due to the pandemic, which negatively impacted the market. However, with many COVID-19-related restrictions easing in the following year, the demand for many products incorporating IGBTs picked up, thereby positively influencing the market. Introduction of the IGBT Market

IGBT is a type of power semiconductor that is used as an electronic switch device. It is also known as a minority carrier device that enables a faster switching rate and offers greater efficiency. It is a cost-effective solution to replace the Metal Oxide Semiconductor Field-Effect Transistor (MOSFET), which is compatible with higher voltage and current. It enables power management to enhance energy conservation in various applications s...

The Global Insulated Gate Bipolar Transistor (IGBT) Market Report is segmented by type (discrete IGBT and modular IGBT), power rating (high power, medium power, low power), application (automotive and EV/HEV, consumer, renewables, UPS, rail, industrial/motor drives), and geography (North America, Europe, Asia Pacific, and Rest of the World). The market sizes and forecasts are provided in terms of value (USD billion) for all the above segments.

[217+ Pages Report] The global insulated gate bipolar transistor (IGBT) market size is expected to grow from USD 7.7 billion in 2021 to USD 12.5 billion by 2030, at a CAGR of 11.6% from 2022-2030

The global standard insulated gate bipolar transistor (IGBT) market was valued at 6.96 billion U.S. dollars in 2021, with forecasts suggesting that in 2022 the market will rise to 7.62 billion U.S. dollars. At the end of the forecast period in 2026, the IGBT market is expected to reach 11.32 billion U.S. dollars.

The market size of the Insulated Gate Bipolar Transistor Igbt Market is categorized based on Application (Industrial System, Energy & power, Inverter & UPS, Consumer electronics, Electric vehicle, Others) and Product (IGBT Module, Discrete IGBT) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

This report provides insights into the market size and forecasts the value of the market, expressed in USD million, across these defined segments.

According to Cognitive Market Research, the global IGBT Module market size will be USD 6915.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 8.80% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 2766.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 2074.65 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 1590.57 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.8% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 345.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 138.31 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.
The Less than 600V is the fastest-growing segment of the IGBT Module industry

Market Dynamics of IGBT Module Market

Key Drivers for IGBT Module Market

Surge in Electric Vehicle (EV) Adoption to Boost Market Growth

IGBT modules play a critical role in electric vehicles, where they manage power conversion for the drive motor. In 2023, nearly 14 million new electric cars were registered globally, bringing the total number on the roads to 40 million—closely aligning with the sales forecast in the 2023 edition of the Global EV Outlook (GEVO-2023). Electric car sales in 2023 saw a 35% increase from 2022, with 3.5 million more cars sold, marking over six times the sales recorded in 2018. In 2023 alone, more than 250,000 new EVs were registered each week, surpassing the entire annual total from 2013. IGBT modules are essential for regulating power flows in EVs, enhancing energy efficiency, and reducing heat generation, which is vital for optimizing battery performance and overall vehicle efficiency.

Growing Renewable Energy Installations to Drive Market Growth

As countries work toward sustainability goals, investment in renewable energy, especially solar and wind, is on the rise. IGBT modules play a key role in this sector, being essential for efficient energy conversion in solar inverters and wind turbine converters, which supports seamless grid integration. In the first three quarters of 2022, global renewable energy auctions awarded 77 GW of new capacity—primarily in solar PV and wind—a 70% increase from the same period in 2021. China and Europe accounted for 75% of this capacity. Solar PV capacity is projected to nearly triple to over 2,350 GW by 2027, surpassing hydropower in 2024, natural gas in 2026, and coal by 2027 to become the world’s largest installed electricity capacity. With the growing need for renewable energy, energy storage systems (ESS) have become essential to balance variable power supply and demand. IGBT modules are crucial in ESS, enhancing power quality and system reliability, further driving IGBT demand in the renewable energy sector.

Restraint Factor for the IGBT Module Market

High Initial Costs and Thermal Management Challenges Will Limit Market Growth

IGBT modules are expensive to produce due to the intricate processes involved in their design and manufacturing. They require high-purity silicon wafers and precise manufacturing techniques to ensure reliable performance and durability. This complexity results in higher costs, which can deter some industries, especially small to mid-sized enterprises, from adopting them. The high cost of IGBT modules limits their accessibility in cost-sensitive markets, particularly in emerging economies where budget constraints may prevent widespread adoption. One of the significant technical challenges with IGBT modules is heat dissipation. During high-power operations, IGBTs generate substantial heat, which, if not managed properly, can lead to overheating, reducing efficiency and lifespan. Effective thermal management requires advanced cooling systems, which add to the complexity and cost of IGBT systems.

Impact of Covid-19 on the IGBT Module Market

The automotive industry, a key end-user of IGBT modules, faced a significant downturn in vehicle production, ...

Global IGBT & Thyristor Market size was $11.5 Billion in 2022 and is hit $15.5 Billion by the end of 2030 with a CAGR of 10.1% between 2023 and 2030.

The size of the IGBT Market was valued at USD 9202.89 Million in 2023 and is projected to reach USD 19130.80 Million by 2032, with an expected CAGR of 11.02% during the forecast period. The Insulated Gate Bipolar Transistor market has gained a lot of growth because energy-efficient power electronics are increasingly in demand across diverse industries. IGBTs represent semiconductor devices, combining properties associated with both MOSFETs and bipolar transistors. The corresponding performance features are high efficiency and fast switching speeds. Salient features are said to include low conduction losses, high input impedance, and suitability for handling high voltages and currents. They are used in many applications, such as electric automobiles, renewable energy systems, industrial motor drives, and power supplies for consumer electronics. The technology continues to progress based on SiC and GaN, with improved efficiency and performance at higher frequencies and temperatures. The benefits associated with IGBTs are lower energy consumption, improved power quality, and increased system reliability, which require their presence in modern power electronic systems. The primary market driver is the increasing number of electric vehicles and their compatibility with efficient power conversion systems, further shifting demand in automotive toward IGBTs. With further technological advancements and rising demand in various sectors, the IGBT market is expected to continue growing in the coming years. Recent developments include: February 2021: Infineon Technologies AG launched the 650 V CoolSiC Hybrid IGBT range. The advanced transistor comprises a 650 V blocking voltage. The hybrid range of IGBT provides benefits of the technologies such as Schottky barrier CoolSiC diodes and 650 V TRENCHSTOP 5 IGBT.April 2022: Bhel to supply the six electric locomotives for the material handling operations. All these locomotives will be manufactured at the company’s facility in the Jhansi Area of Uttar Pradesh. All the traction motors for the locomotives will get supplied from the Bhopal plants, and all the IGBT-based transistors will get supplied from its Bangalore unit. The company has achieved a significant rise in its stock business. The 6000 HP electric locomotives became the first-ever in India. It would be the most significant thermal power project of all time in the nation. As the globe is coming up with new ways of reducing carbon, this can be helpful.. Notable trends are: The growing range of applications to boost the market growth.

Insulated Gate Bipolar Transistor (IGBT) Market size is expected to develop revenue and exponential market growth at a remarkable CAGR during the forecast period from 2024-2032

The global pin fin heat sink for IGBT market size reached USD 1,032.0 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,440.0 Million by 2033, exhibiting a growth rate (CAGR) of 3.58% during 2025-2033. The surging need for effective cooling solutions for modern consumer electronics, the rising use of IGBT modules in the automotive industry for EVs and HEVs, and the growing popularity of hybrid pin fin heat sinks for multi-device cooling represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each segment of the global pin fin heat sink for IGBT market, along with forecasts at the global, regional, and country levels from 2025-2033. Our report has categorized the market based on material type and application.

The IGBT market, valued at $10.39 billion in 2025, is experiencing robust growth, projected to expand at a Compound Annual Growth Rate (CAGR) of 15.31% from 2025 to 2033. This surge is primarily driven by the burgeoning electric vehicle (EV) and hybrid electric vehicle (HEV) sectors, which rely heavily on IGBTs for power conversion and control in their powertrains. The increasing demand for energy-efficient motor drives in industrial automation and the proliferation of smart home appliances further contribute to market expansion. Significant advancements in IGBT technology, leading to higher efficiency, faster switching speeds, and improved thermal management, are fueling this growth. While the market faces restraints like the high initial cost of IGBT modules and the potential for supply chain disruptions, the long-term outlook remains exceptionally positive. The dominance of IGBT modules within the product segment, coupled with the significant market share held by the EV/HEV application sector, underscores the key drivers shaping the market landscape. Regional growth is anticipated to be particularly strong in the Asia-Pacific region, driven by China and other emerging economies with rapidly expanding manufacturing and automotive sectors. The competitive landscape is characterized by a mix of established players and emerging semiconductor companies. Key players, including Infineon Technologies, ABB, and Mitsubishi Electric, are focusing on strategic partnerships, technological innovation, and geographic expansion to maintain their market leadership. They are also investing heavily in research and development to improve IGBT performance and address the increasing demand for higher power density and efficiency. The ongoing efforts to improve the reliability and durability of IGBTs are crucial, especially considering the rigorous demands of EV applications. The market presents significant opportunities for companies focused on developing specialized IGBT solutions tailored to specific applications, as well as those that can effectively manage the complexities of the global supply chain. However, companies must be mindful of potential industry risks, including fluctuations in raw material prices and intense competition.

The IGBT and Super Junction MOSFET Market size will exceed a valuation of USD 50.78 billion by 2034, to grow at a CAGR of 12.1% during the forecast period.

This statistic shows the distribution of the IGBT-based (insulated-gate bipolar transistor based) power semiconductor market worldwide from 2015 to 2018. In 2018, Infineon was the largest manufacturer of IGBT-based power semiconductors, controlling 28.6 percent of the global market.

This statistic shows the IGBT-based power semiconductor (discrete IGBTs and IGBT modules) market share worldwide by company in 2019. In 2019, Infineon had a 35.6 percent share of the global IGBT components market.

According to Cognitive Market Research, the global IGBT and Super Junction MOSFET market size will be USD 15215.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 12.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 6086.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 4564.56 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 3499.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 760.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 304.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.2% from 2024 to 2031.
The Electric Vehicle category is the fastest growing segment of the IGBT and Super Junction MOSFET industry

Market Dynamics of IGBT and Super Junction MOSFET Market

Key Drivers for IGBT and Super Junction MOSFET Market

Integration of driver circuits with gate drivers to enhance the advancement of compact, high-performance power electronics

Ultra-compact power modules are the outcome of the most recent trend in the IGBT and super junction MOSFET market, which involves the direct integration of driver circuits, gate controllers, and additional components into the modules. This innovation has considerably reduced the size and weight of these modules, thereby promoting the development of high-performance and compact power electronics. In particular, the utilization of these developments in the development of solutions for wearable devices, drones, and portable charging solutions is noteworthy. In order to guarantee the efficient operation of these densely packed modules, sophisticated thermal management techniques are required due to the densification of components. Microchannel cooling is a critical method that has emerged. This trend emphasizes the industry's dedication to meeting the challenges associated with heat dissipation in compact electronic systems and stretching the boundaries of miniaturization.

Increase in Electric Vehicle (EV) Adoption to Enhance Market Growth

As worries about climate change and air pollution continue to increase, there has been a corresponding rise in the number of customers purchasing electric cars (EVs). In the electric vehicle powertrain, the importance of insulated gate bipolar transistors (IGBTs) and metal-oxide-semiconductor field-effect transistors (MOSFETs) cannot be emphasized. Both of these transistors play very important roles. Inverter systems are managed and controlled by these semiconductor components, which also regulate battery charging procedures in an effective manner. The lightning-fast growth of the electric vehicle sector is driving a significant increase in the demand for these essential power semiconductors.

Restraint Factor for the IGBT and Super Junction MOSFET Market

The development of the market is impeded by technical obstacles.

There are a variety of technical hurdles involved in the design of IGBTs and super junction MOSFETs, which is one of the key factors that is discouraging the market for these devices. There is a significant obstacle to overcome when it comes to achieving a delicate equilibrium between efficiency, switching speed, and on-resistance. In order to reach the highest possible level of performance, designers are faced with the difficult challenge of optimizing these semiconductor components, which requires them to navigate trade-offs. Because of the complex nature of these technological issues, they have the potential to have an effect on the development and deployment of these semiconductors, which might inhibit the growth of the IGBT and super junction MOSFET markets.

Impact of Covid-19 on the IGBT and Super Junction MOSFET Market

Significant challenges were encountered in the IGBT and super junction MOSFET market as a result of the COVID-19 pandemic. The production and transportation sectors were significantly impacted by supply ch...

Turkey IGBT Market size was valued at USD 53.76 Million in 2023 and is projected to reach USD 102.30 Million by 2031, growing at a CAGR of 8.62% from 2024 to 2031.

Turkey IGBT Module Market Overview

Turkey has become a thriving market for Insulated Gate Bipolar Transistor (IGBT) modules in recent years, which is indicative of the country’s industrial development, aspirations for renewable energy, and dedication to scientific innovation.

Turkey’s industrial landscape is changing dramatically as a result of a deliberate emphasis on innovation, digitalization, and automation. IGBT modules and other innovative power electronics solutions are in high demand as Turkish industries look to increase their competitiveness, productivity, and efficiency. The Turkish IGBT module market is expected to develop significantly due to industrial automation, as industries like electronics, equipment, and automotive adopt new technologies to improve efficiency and productivity. Turkish automakers are putting more money into automation and robots in order to fulfill rising demand and increase production levels. IGBT modules are essential components of production machinery, control systems, and motor drives because they provide accurate motion control, energy efficiency, and smooth integration in automated industrial settings.

This statistic shows the market size for standard IGBT (insulated-gate bipolar transistor) modules in solar energy worldwide, from 2015 to 2020. In 2015, the market for standard IGBT modules in solar energy was valued at 157 million U.S. dollars globally.

The size and share of the market is categorized based on Type (SiC N-Channel IGBT, SiC P-Channel IGBT) and Application (HVDC Power Transmission, Rail Traffic, New Energy Automobile, PV & Wind Power) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The IGBT Die Bonder market, encompassing equipment for precisely bonding IGBT dies to substrates, is experiencing robust growth, driven by the surging demand for power electronics in electric vehicles (EVs), renewable energy infrastructure, and industrial automation. The market size in 2025 is estimated at $500 million, reflecting a compound annual growth rate (CAGR) of 12% observed between 2019 and 2024. This growth is fueled by several key factors: the increasing adoption of high-power IGBT modules in EVs and hybrid vehicles, the expanding deployment of renewable energy systems like solar and wind power converters, and the rising demand for energy-efficient industrial automation equipment. Technological advancements in bonding techniques, enabling higher precision and throughput, are further contributing to market expansion. Segmentation by application (chip, solder paste, spacer, stacked DBC, others) and mounting type (solder paste, solder film) highlights diverse application needs, with the automotive and renewable energy sectors driving significant demand for advanced bonding solutions. While the market faces some constraints, such as the high initial investment required for sophisticated bonding equipment, the long-term growth outlook remains positive, particularly in emerging economies experiencing rapid industrialization and electrification. The competitive landscape is characterized by a mix of established players like Besi, FUJI, and ASMPT, alongside several regional manufacturers. North America and Europe currently hold significant market share, driven by their advanced technological infrastructure and strong automotive and renewable energy sectors. However, the Asia-Pacific region, particularly China, is expected to witness substantial growth in the coming years due to its rapidly expanding manufacturing base and government initiatives promoting electric vehicle adoption and renewable energy development. This growth is further propelled by the entry of several regional manufacturers like those listed in the provided data, adding competition and driving innovation. Companies are focusing on developing increasingly precise and efficient bonding technologies, incorporating advanced automation and quality control features to meet the stringent requirements of high-power electronics applications. The forecast period (2025-2033) promises continued expansion, with a potential market value exceeding $1.5 billion by 2033, driven by sustained demand across key application segments and geographic regions.

Market Size and Growth: The global Insulated-Gate Bipolar Transistor (IGBT) Products market is projected to reach a value of approximately XXX million by 2033, exhibiting a CAGR of XX% during the forecast period. Key drivers of this growth include increasing demand for energy-efficient power electronics in industrial, automotive, and renewable energy applications. The rising adoption of electric vehicles, hybrid vehicles, and variable-speed drives is expected to further drive market expansion. Segmentation and Competition: The market is segmented by application (industrial, aerospace, electronics, automotive, energy, others) and type (IGBT chip, single tube, module). Key players include Infineon Technologies, Mitsubishi Electric, Fuji Electric, Semikron, Danfoss, and other prominent manufacturers. Competition in the market is expected to intensify as new entrants emerge with innovative offerings. Strategic collaborations and acquisitions are prevalent, enabling companies to strengthen their market position and expand their product portfolios.