IGBTs & Thyristors Show Solid Growth To 2025
By Mat Dirjish
MarketsandMarkets’ recent report, titled “IGBT & Thyristor Market by Packaging Type, Power Rating, Voltage, Application, and Region – Global Forecast to 2024”, forecasts the global IGBT market to grow from $5.3 billion in 2020 to $6.6 billion by 2025 at a CAGR of 4.6%. The report also goes on to predict the global thyristor market expanding from $781 million in 2020 to $849 million by 2025 at a CAGR of 1.7%. Factors driving upward growth include the trend of replacing aging power infrastructures globally and the adoption of electric motors in industrial, commercial, and residential applications.
Other revelations include:
- IGBT modules account for a large share of the IGBT market in 2019.
- Demand for medium-high power IGBT to grow at highest CAGR during the forecast period.
- Power transmission systems account for the largest share of the global thyristor market in 2019.
- For both components, APAC region set to grow at the highest CAGR.
- Major players in the market include Infineon Technologies AG (Germany), Fuji Electric Co., Ltd. (Japan), ON Semiconductor (US), Mitsubishi Electric Corporation (Japan), and STMicroelectronics (Switzerland).
Thirsty for greater knowledge of the IGBT/thyristor markets? Checkout a brief overview of the “IGBT & Thyristor Market” report.
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