Insulated-gate Bipolar Transistors (IGBTs) Market to Reach $11 Billion by 2022, Globally-Allied Market Research

PORTLAND, Oregon, October 19, 2016 /PRNewswire/ --

A new report published by Allied Market Research, titled, "Insulated-gate bipolar transistors (IGBTs) Market by type, power rating, and application - Global opportunity analysis and industry forecast, 2014-2022", projects that the world IGBT market would reach $11 billion by 2022. Asia-Pacific dominates the global market, accounting for more than 50% revenue share of the overall IGBT market, followed by Europe.

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Summary of Insulated-gate Bipolar Transistors (IGBTs) Market can be accessed on the website at https://www.alliedmarketresearch.com/men-personal-care-market

IGBT module is the foremost device, which is widely used in industries. Currently, rise in demand for higher efficiency, faster switching, and minimal power loss are some of the key driving factors of the market. Moreover, aggrandized need for high voltage operating device is expected to provide huge opportunities to the market players. IGBT module is the leading segment in the global market, and is expected to maintain this trend throughout the forecast period. However, discrete IGBT segment is expected to witness significant growth in the future, owing to its compact size and enhanced efficiency.

High power IGBT segment is projected to maintain its lead in the overall IGBT market, as these modules are used for power transmission in high voltages with minimum current loss. Moreover, Asia-Pacific is the major revenue contributor of this market due to increasing demand for electric vehicles utilizing IGBT for power transaction. China, India, and Japan are the major consumers of IGBT in Asia-Pacific.

Among applications, energy & power segment dominated the global market in 2014, accounting for 23% share. Proactive government initiative to establish smart grids and High Voltage Direct Current (HVDC) has fueled the market growth. However, electric vehicle is anticipated to be the most lucrative application segment, and is expected to grow at a CAGR of 12.1% during the forecast period. This is attributed to increasing demand for power management in electric vehicles. Moreover, Asia-Pacific was the leading revenue contributor to the electric vehicle market in 2014.