IGBT & Thyristor Market Forecasts to 2025 - Adoption of Electric Motors in Industrial, Commercial & Residential Applications is Driving Growth

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Mar 06, 2020, 11:30 ET

DUBLIN, March 6, 2020 /PRNewswire/ -- The "IGBT & Thyristor Market by Packaging Type (IGBT Discrete, IGBT Module), Power Rating (Medium Power IGBT, High Power IGBT), Voltage (Below 400V, 600-650V), Application (Power Transmission Systems, Motor Drives), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global thyristor market size is estimated to grow from USD 781 million in 2020 to USD 849 million by 2025, at a CAGR of 1.7%.

Government initiatives undertaken in various countries towards the replacement of aging power infrastructure is one of the key factors fueling the growth of this market.

High power IGBT segment is expected to grow at the highest CAGR during the forecast period

The market for high-power IGBTs is expected to grow at the highest CAGR during the forecast period due to the increasing need for more robust and reliable IGBTs for high-power applications, such as HVDC systems, FACTS, solar inverters, and rail traction systems, where low- and medium-power IGBTs cannot operate. High-power IGBTs can run on a power rating of more than 1 MW. A growing number of solar energy projects, HVDC projects, and wind farms are expected to contribute significantly to the growth of this market in the near future.

The market for power transmission systems is expected to grow at the highest CAGR during the forecast period

Among applications, the thyristor market for power transmission is expected to grow at the highest CAGR during the forecast period. The primary factor contributing to the growth of this application is the increasing deployment of thyristors in HVDC systems and FACTS due to their low-power loss capability.

HVDC systems and FACTS employ thyristors to DC to AC and AC to DC conversion. Increasing number of HVDC and FACTS projects, such as the State Grid Corporation of China (SGCC) Transmission Lines (China), Russia-Japan Energy Bridge (Russia-Japan), Atlantic Wind Connection - Transmission (US), BRITIB Project (Spain-France-UK), and the Grain Belt Express Clean Line (US), has driven market growth over the years.

The market for electric vehicles and hybrid electric vehicles is expected to grow at the highest CAGR during the forecast period

The market for electric vehicles and hybrid electric vehicles is expected to grow at the highest CAGR during the forecast period owing to the increasing demand for EVs/HEVs across the world as these vehicles are energy-efficient, environmentally friendly, and affordable. Moreover, initiatives taken by the governments of developing countries to minimize CO2 emissions would further drive the demand for EVs and HEVs in the near future. For instance, the Indian government offers a subsidy of USD 1.4 billion to support the domestic electric vehicle industry, which, in turn, would provide lucrative growth opportunities to IGBT manufacturers.

Similarly, several worldwide projects focusing on developing a zero-carbon transport infrastructure would lead to increased demand for IGBTs in the next few years. For example, in March 2018, Infineon Technologies AG (Germany) partnered with SAIC Motor (China) to establish SIAMP, a power module joint venture company, in China. SIAMP would focus on manufacturing power modules for electric vehicles in China.

High power IGBT is expected to grow at the highest CAGR during the forecast period

The market for high-power IGBTs is expected to grow at the highest CAGR during the forecast period due to the increasing need for more robust and reliable IGBTs for high-power applications, such as HVDC systems, FACTS, solar inverters, and rail traction systems, where low- and medium-power IGBTs cannot operate. High-power IGBTs can operate on a power rating of more than 1 MW. A growing number of solar energy projects, HVDC projects, and wind farms are expected to contribute significantly to the growth of this market in the near future.

APAC held the largest share of thyristor market in 2019

APAC held the largest share of the global thyristor market and is expected to register the highest CAGR during the forecast period. This growth of the market can be attributed to the increasing number of HVDC and FACTS projects in the region. Converters used in HVDC lines employ thyristors to convert AC to DC and vice versa. Further, APAC countries are focusing on adopting HVDC systems due to their low power loss in long-distance power transmission. The State Grid Corporation of China (SGCC) and the Russia- Japan Energy Bridge (Russia-Japan) are some of the major HVDC projects that are likely to be completed in the coming years. All such projects are expected to fuel the growth of the thyristor market in APAC.

Moreover, IGBT and thyristor manufacturers are deploying thyristors in HVDC systems in the region. For instance, in January 2019, ABB Ltd (Switzerland) received a contract worth USD 640 million from the Power Grid Corporation of India Limited (India), a national electricity grid operator in India. Under this contract, the company is likely to construct a transmission link of over 1,800 km to deliver electricity to more than 80 million people.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Growth Opportunities in IGBT Market
4.2 Attractive Growth Opportunities in Thyristor Market
4.3 Market, By Country
4.4 Thyristor Market, By Region
4.5 IGBT Market, By Application and Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Initiatives of Governments Across Various Countries Toward Replacement of Aging Power Infrastructure
5.2.1.2 Adoption of Electric Motors in Industrial, Commercial, and Residential Applications
5.2.2 Restraints
5.2.2.1 High Infrastructure Development Cost and Lack of Technology Awareness
5.2.3 Opportunities
5.2.3.1 Increasing Adoption of Renewable Energy Sources
5.2.3.2 Growing Inclination Toward use of Electric and Hybrid Electric Vehicles
5.2.4 Challenges
5.2.4.1 Complex Structure of Firing Circuits of IGBTs and Thyristors
5.3 Value Chain Analysis
5.3.1 IGBT and Thyristor Value Chain

6 IGBT Market, By Packaging Type
6.1 Introduction
6.2 IGBT Discrete
6.2.1 IGBT Discrete Offers Fast Response With No Overshoot
6.3 IGBT Module
6.3.1 High Durability and Low Downtime to Drive Market for IGBT Module

7 IGBT Market, By Power Rating
7.1 Introduction
7.2 Low
7.2.1 Low Cost and High Flexibility to Drive Low-Power IGBT Market
7.3 Medium
7.3.1 High Demand for Rail Traction Systems and Electric and Hybrid Electric Vehicles to Surge Demand for Medium-Power IGBT
7.4 High
7.4.1 Increased Adoption of High-Power IGBT in Renewable Energy and HVDC Applications Have Positive Impact on Market Growth

8 IGBT Market, By Voltage
8.1 Introduction
8.2 <_00 />8.2.1 Increased Demand for Less Than 400 V IGBT for Low-Power Applications
8.3 600-650 V
8.3.1 Increased Utilization of 600-650 V IGBT Due to Their Capability To Handle High Current Surge And High Current Density
8.4 1,200-1,700 V
8.4.1 Surged Demand for 1,200-1,700 V IGBT as They Eliminate Requirement for Paralleling of IGBT
8.5 2,500-3,300 V
8.5.1 Increased Deployment of 2,500-3,300 V IGBT Due to Their High Thermal Fatigue Resistance
8.6 > 4,500 V
8.6.1 Low Switching Loss and Compliance With Rohs Directive Drive Market for IGBTs With 4,500 V Propel Market Growth

9 IGBT Market, By Application
9.1 Introduction
9.2 Power Transmission Systems
9.2.1 HVDC Systems
9.2.1.1 High Adoption of HVDC Systems in Long-Distance Power Transmission Lines to Spur Market Growth
9.2.2 Facts
9.2.2.1 Low Cost and Flexibility of Facts to Accelerate Demand of IGBTs
9.3 Renewable Energy
9.3.1 PV Power Generation Systems
9.3.1.1 Increasing Number of Solar Power Plants Worldwide to Augment Demand for IGBTs
9.3.2 Wind Power Generation Systems
9.3.2.1 Growing Number of Wind Farms to Propel IGBT Market Growth
9.4 Rail Traction Systems
9.4.1 Ability of IGBT to Operate on High Power in Electric Trains Fueling Demand for IGBT for Rail Traction Systems
9.5 Uninterrupted Power Supply
9.5.1 Deployment of IGBT for Safeguarding Ups Against Power Fluctuations Fostering Growth of Market
9.6 Electric Vehicles and Hybrid Electric Vehicles
9.6.1 Initiatives Taken By Worldwide Governments for Promoting use of EV/HEV Propelling Market Growth
9.7 Motor Drives
9.7.1 Industrial Motors
9.7.1.1 Use of IGBTs in Industrial Motors That Find Applications in Food and Chemical Processing Plants Boost Market Growth
9.7.2 Commercial Motors
9.7.2.1 Adoption of IGBTs in Commercial Motors Used in Scanners, Printers, Etc. to Propel Market Growth
9.7.3 Residential Motors
9.7.3.1 Low Power Loss Offered By IGBTs Enables Their Utilization in Residential Motors That are Deployed in Cameras, Washing Machines, and So On
9.8 Consumer Electronics
9.8.1 Deployment of Discrete IGBTs in Consumer Electronics to Fuel Their Market Growth
9.9 Others

10 Different Classes of Thyristors
10.1 Introduction
10.2 Thyristors With Turn-On Capability
10.3 Thyristors With Turn-Off Capability
10.4 Thyristors With Bidirectional Control

11 Thyristor Market, By Application
11.1 Introduction
11.2 Power Transmission Systems
11.2.1 Initiatives of Worldwide Governments Would Increase Demand for Power Transmission Systems, Thereby Leading to Thyristor Market Growth
11.3 Motor Controllers
11.3.1 Low Maintenance and Minimized Lag Times Offered By Thyristors Promotes Their Utilization in Motors Controllers
11.4 Light Dimmers
11.4.1 Escalated Demand for Thyristors for use in Light Dimmers to Save Electricity Boost Market Growth
11.5 Pressure Control Systems
11.5.1 Increased use of Thyristors in Pressure Control Systems Accelerates Market Growth
11.6 Liquid-Level Regulators
11.6.1 Augmented Deployment of Thyristors in Industrial, Commercial, and Residential Applications Foster Market Growth
11.7 Others

12 Geographic Analysis
12.1 Introduction
12.2 North America
12.2.1 US
12.2.1.1 US to Continue to Command IGBT Market in North America During 2020-2025
12.2.2 Canada
12.2.2.1 Development of New Electric and Hybrid Electric Vehicle Charging Stations to Drive Canadian Market Growth
12.2.3 Mexico
12.2.3.1 Presence of Many Solar Plants Boosting Mexican Market Growth
12.3 Europe
12.3.1 France
12.3.1.1 High Adoption of Electric and Hybrid Electric Vehicles to Propel French Market Growth
12.3.2 Germany
12.3.2.1 Presence of Major IGBT and Thyristor Manufacturers to Fuel Market Growth in Germany
12.3.3 UK
12.3.3.1 Deployment of Wind Farms in UK to Propel Market Growth
12.3.4 Rest of Europe
12.3.4.1 High Sales of Electric and Hybrid Electric Vehicles in Region is Expected to Spur Market Growth
12.4 APAC
12.4.1 China
12.4.1.1 Government Initiatives for Promoting use of Electric and Hybrid Vehicles Surge Demand for IGBTs and Thyristors in China
12.4.2 Japan
12.4.2.1 Highly Developed Railway Network Drive Market Growth in Japan
12.4.3 South Korea
12.4.3.1 Development of New HVDC Projects to Boost Demand for IGBTs and Thyristors in South Korea
12.4.4 India
12.4.4.1 Replacement of Aging Transmission Lines With HVDC Transmission Lines to Fuel Indian Market Growth
12.4.5 Rest of APAC
12.4.5.1 Focus on Modification of Railway Networks in RoAPAC to Accelerate Demand for IGBTs and Thyristors
12.5 Rest of the World
12.5.1 Middle East and Africa
12.5.1.1 Presence of World's Biggest Solar Plants in Region Contributed Significantly to Market Growth in Mea
12.5.2 South America
12.5.2.1 Large Number of Wind Farms in Region Would Fuel South American Market Growth

13 Competitive Landscape
13.1 Introduction
13.2 Market Ranking Analysis, 2019
13.3 Competitive Scenario
13.3.1 Product Launches
13.3.2 Partnerships, Collaborations, Contracts, and Agreements
13.3.3 Acquisitions
13.3.4 Expansions
13.4 Competitive Leadership Mapping
13.4.1 Visionary Leaders
13.4.2 Dynamic Differentiators
13.4.3 Emerging Companies
13.5 Strength of Product Portfolio
13.6 Business Strategy Excellence

14 Company Profiles
14.1 Key Players
14.1.1 Infineon Technologies AG
14.1.2 Fuji Electric Co. Ltd.
14.1.3 ON Semiconductor
14.1.4 Mitsubishi Electric Corporation
14.1.5 STMicroelectronics
14.1.6 Renesas Electronics Corporation
14.1.7 Vishay Intertechnology
14.1.8 ABB Ltd.
14.1.9 Semikron
14.1.10 Hitachi, Ltd.
14.1.11 Toshiba Corporation
14.2 Right to Win
14.3 Other Key Players
14.3.1 Rohm Co. Ltd.
14.3.2 Danfoss
14.3.3 Central Semiconductor Corp.
14.3.4 New Jersey Semiconductor
14.3.5 Siemens AG
14.3.6 Schneider Electric
14.3.7 Powerex Inc.
14.3.8 Silicon Power Corporation
14.3.9 Starpower Semiconductor Ltd.
14.3.10 Littelfuse, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/qptz7

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