IGBT and Thyristor Market Size, Share, Industry Growth 2027

IGBT and Thyristor Market to 2027 - COVID-19 Impact and Global Analysis and Forecasts by IGBT Packaging Type (IGBT Discrete, IGBT Module); IGBT Power Rating (Low, Medium, High); IGBT Application (Energy & Power, Rail Traction Systems, Uninterrupted Power Supply, Electric Vehicles and Hybrid Electric Vehicles, Consumer Electronics, Others); Thyristor Application (Power Transmission Systems, Motor Controllers, Light Dimmers, Pressure Control Systems, Liquid-Level Regulators, Others)

Publication Month : Apr 2020

  • Report Code : TIPRE00009336
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 220
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The IGBT and Thyristor market was valued at US$ 5.15 billion in 2019 and it is expected to grow at a CAGR of 4.1% from 2020 to 2027.

In 2019, APAC held the major share of the IGBT and Thyristor market and is anticipated to dominate the market during the forecast period. The presence of significant semiconductor players in the region is one of the key reasons attributed to market growth. Moreover, the growth is due to the rising need for more efficient power transmission systems to fulfill the increasing electricity demand by the continually increasing population in the region.

Furthermore, the region has numerous HVDC projects underway. For instance, China adopted HVDC systems for its high population that needs a substantial power supply. Zhou Shan, Gezhouba – Shanghai, Tian-Guang, as well as Three Gorges – Changzhou are a few key HVDC projects.

Several IGBT manufacturers, as well as HVDC providers, are aiming to deploy their solutions in APAC. For instance, in 2019, ABB Ltd. won a contract worth US$ 640 million from Power Grid Corporation of India Limited, the country’s national electricity grid operator. As per the contract, ABB is projected to supply an 800 kilovolt (kV) ultra-high-voltage direct current transmission link of more than 1,800 km to provide electricity to over 80 million people. Furthermore, India is the fastest-growing country for the IGBT and Thyristor market owing to the rising population and growing infrastructure. In the SAM region, Brazil accounted for the largest market share due to rising investments in power transmission due to increasing urbanization.

The market is estimated to witness a slow growth in 2020 and 2021 owing to the negative impact of COVID-19 on the APAC semiconductor industry. Though the complete impact of COVID-19 is still unidentified, the impact across the electronics value chain will probably be far-reaching and strongly affecting parties involved with semiconductor manufacturing. COVID-19 is underlining the possible risks and vulnerability of present electronics and semiconductor value chain model as well as challenging the semiconductor industry to consider altering its global supply chain model.

Lucrative Regional IGBT and Thyristor Market

Lucrative Regional IGBT and Thyristor Market
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Market Insights

Growing implementation of smart grid technology drives IGBT and Thyristor market

Power electronic devices such as insulated gate bipolar junction transistor (IGBT), metal-oxide silicon field-effect transistor (MOSFET), integrated gate commutated Thyristor (IGCT), gate turn off Thyristor (GTO), and triode as an AC switch (TRIAC) have a high current carrying and voltage handling capacity. They have higher switching frequencies, which are useful for frequency control and voltage magnitude conversion. These devices are primarily used in converters and are able to control the power flow. The smart grid has become the biggest technological revolution in the past years. The smart grid is an automated, highly integrated, technology-driven, and modernized grid than the conventional grid. The smart grid is expected to play a major role in transforming the electrical networks, along with power system operation in the near future.

IGBT: Packaging Type Insights

The module packaging type segment in the global IGBT market accounted for a larger share in 2019. The IGBT modules are used in the traction inverters and for the DC-AC stages of uninterruptible power supplies (UPS), energy storage systems, solar inverters, and motor drive applications. These state of the art IGBT modules use narrow mesa IGBT technology to provide high current density and robust short circuit security along with higher blocking voltage to deliver efficient performance. IGBT modules comprise several devices in parallel and have very high current-managing capabilities in terms of hundreds of amperes. Furthermore, the segment is anticipated to witness growth at a higher CAGR during the forecast period.

IGBT: Power Rating Insights

The portfolio comprises cutting-edge IGBTs of different configurations, product families, current ratings, and IGBT chip generations for various applications.  These IGBTs come in dual, chopper, PIM, 4-pack, 12-pack, 6-pack, 3-level, booster, or single switch configuration with a current rating ranging from 6A to 3,600A. IGBT modules cover a range from hundreds of watts to many megawatts. The applications such as general-purpose drives, traction, servo-units and renewable energy applications such as solar inverters or wind applications benefit from the performance, efficiency, and longevity of these highly reliable products. Based on power rating, the medium power rating segment is anticipated to hold the largest share of the market during the forecast period.

Global IGBT Market, by Power Rating – 2019 & 2027

Global IGBT Market, by Power Rating – 2019 & 2027
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Thyristor: Application Insights

A Thyristor is known as a four-layer device with alternating P-type and N-type semiconductors (P-N-P-N). A Thyristor comprises three terminals - cathode (negative terminal), an anode (positive terminal), and gate (control terminal). The gate is a control terminal; it controls the flow of current within the anode and cathode. The main function of a Thyristor is to control electric power and current by working as a switch. It gives sufficient protection to circuits with large voltages and currents up to 6,000V and4,500A. It has the ability to switch rapidly from a state of conducting current to a state of non-conduction. In addition, it is a cost-effective solution, and it also remains functional in the long term without developing a fault. Thyristor are used in a wide range of applications, including power transmission systems, light dimmers, motor controllers, pressure control systems, and liquid-level regulators. The power transmission application of the global Thyristor market is projected to witness the highest CAGR during the forecast period.

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IGBT and Thyristor Market: Strategic Insights

igbt-and-thyristor-market
Market Size Value inUS$ 5.15 Billion in 2019
Market Size Value byUS$ 6.96Billion by 2027
Growth rateCAGR of 4.1% from 2020-2027
Forecast Period2020-2027
Base Year2020
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The key players in the market are focusing on the expansion of their product portfolio to compete in the market efficiently. Further, the players focus on maintaining long-term partnerships with their existing clients. A few recent acquisitions are listed below;

2020:Solar Support announced its strategic agreement with Semikrona. As an authorized representative of SEMIKRON in the US, Solar Support meets the industry’s demand for IGBT (insulated-gate bipolar transistor) stack components, a critical semiconductor device used in aging PV inverters.
2019:Fuji Electric Co., Ltd extended the lineup of its 7th-generation X Series of IGBT*1 modules, targeting the large-scale wind power generation market, and has begun sample shipment of 1,700V withstanding voltage products.

IGBT and Thyristor Market – by IGBT Packaging Type

  • Discrete
  • Module

IGBT and Thyristor Market – by IGBT Power Rating

  • Low
  • Medium
  • High

IGBT and Thyristor Market – by IGBT Application

  • Energy & Power
  • Rail Traction System
  • Uninterrupted Power Supply
  • Electric Vehicles and Hybrid Vehicles
  • Consumer Electronics
  • Others

IGBT and Thyristor Market – by Thyristor Application

  • Power Transmission Systems
  • Motor Controllers
  • Light Dimmers
  • Pressure Control Systems
  • Liquid-level Regulators
  • Others

IGBT and Thyristor Market – by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • Russia
    • UK
    • Rest of Europe
  • Asia Pacific (APAC)

    • South Korea
    • China
    • India
    • Australia
    • Japan
    • Rest of APAC
  • Middle East &Africa (MEA)

    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA
  • South America

    • Brazil
    • Argentina
    • Rest of South America (SAM)

Company Profiles

  • ABB Ltd
  • Infineon Technologies AG
  • Mitsubishi Electric Corporation
  • Renesas Electronics Corporation
  • ROHM CO., LTD.
  • Semiconductor Components Industries, LLC (On Semiconductor)
  • STMicroelectronics N.V.
  • SEMIKRON
  • Vishay Intertechnology, Inc
  • Fuji Electric Co., Ltd.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

IGBT Packaging Type ; IGBT Power Rating ; IGBT Application ; Thyristor Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

Frequently Asked Questions


Which region led the IGBT and thyristor market in 2019?

In 2019, the APAC region held the major share of the Thyristor market and is anticipated to dominate the market during the forecast period. The presence of significant semiconductor players in the region is one of the key reasons attributed to market growth. Moreover, the growth is due to the rising need for more efficient power transmission systems to fulfill the increasing electricity demand by the continually increasing population in the region.

Which factor is driving the IGBT and thyristor market?

Power electronic devices including Insulated Gate Bipolar Junction Transistor (IGBT), Metal Oxide Silicon Field Effect Transistor (MOSFET), Integrated Gate Commutated Thyristor (IGCT), gate turn off Thyristor (GTO), Triode as an AC Switch (TRIAC), and others have a high current carrying and voltage handling capacity. They have higher switching frequencies, which are useful for frequency control and voltage magnitude conversion. These devices are primarily used in converters and are able to control the power flow. The smart grid has become the biggest technological revolution in the past years. Compared to the conventional grid, the smart grid is an automated, highly integrated, technology-driven, and modernized grid due to the usage of such power electronics. The smart grid is expected to play a major role in transforming the electrical networks, along with power system operation during the forecast period.

Which application is expected to be fastest growing during the forecast period in the IGBT and thyristor market?

The market for EVs and hybrid EVs is anticipated to witness the highest CAGR during the forecast period attributed to the growing demand for EVs/HEVs. These vehicles are gaining high acceptance as they are energy-efficient, environment-friendly, and affordable. Additionally, government initiatives of developing countries to reduce carbon emissions are expected to further push the demand for EVs and HEVs in the coming years. For instance, the government of India provided a subsidy of US$ 1.4 billion for supporting the domestic EV industry, which is expected to offer lucrative growth opportunities to IGBT players operating in the market. In the thyristor market, the power transmission systems are expected to be the fastest-growing segment; the main function of a thyristor is to control electric power and current by working as a switch. It gives sufficient protection to circuits with large voltages and currents up to 6000 V, 4500 A. It has the ability to switch rapidly from a state of conducting current to a state of non-conduction. Also, it is a cost-effective solution, and it also remains functional in the long term without developing a fault.

The List of companies - IGBT and Thyristor Market

  1. ABB Ltd
  2. Infineon Technologies AG
  3. Mitsubishi Electric Corporation
  4. Renesas Electronics Corporation
  5. ROHM CO., LTD.
  6. ON Semiconductor
  7. STMicroelectronics N.V.
  8. SEMIKRON
  9. Vishay Intertechnology, Inc
  10. Fuji Electric Co., Ltd.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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