With the penetration of digitization, the need for maintaining a stable power supply is on the rise. Fortune Business Insights predicts that the rise in demand for continuous power supply will drive the global IGBT module market, in their new report, titled, “IGBT Module Market Size, Share and Global Trend by Type (Standard IGBT Module, Power integrated Module(PIM/CIB), Intelligent Power Module (IPM)), By Power Rating (High Power, Medium Power, Low Power), By End-Use (UPS & Inverter, Consumer Electronics, Electric Vehicle, Industrial System, Medical Devices) And Geography Forecast till 2026”.
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Rise in Demand for Efficient Programming Management for Computers to Promote Growth
In the recent past, there has been a surge in demand for efficient space management and high reliability in industrial devices and equipment, along with the constant need for smooth energy flow. Such factors are likely to boost the global IGBT module market in the forecast period. Apart from these, government regulations imposed to encourage conservation of energy are lso expected to boost the global market for IGBT module. This, coupled with the rise in demand for electronic devices and advancement in technology, are major growth drivers for the market. Besides this, the constant need for efficient programming for computers across various industries is anticipated to help the global IGBT market gain momentum.
On the contrary, the high cost of implementation and maintenance, lack of skilled professionals, and lack of stability in the device at extreme temperatures may challenge the growth of the market. Nevertheless, with the deployment of small and smart grid in the upgraded modules, the market is anticipated to grow remarkably in the coming years.
Top Players Overview:
- ON Semiconductor
- Mitsubishi Electric
- CRRC Corporation Limited
- Vishay Intertechnology, Inc.
- IXYS Corporation
- Fuji Electric Co., LTD.
- Infineon Technologies AG
- MacMic Science & Technology CO.,LTD
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Introduction of New Features in IGBT Modules to Promote Growth in Asia Pacific
Geographically, the global IGBT module market is anticipated to be dominated by Asia Pacific. This is attributable to the increasing focus on implementing IGBT in power transmission, renewable energy, and electric vehicles in the region. In addition to this, rise in Information Technology expenditures for catering to end user storage needs in nations such as Japan, India, South Korea, and China, is also anticipated to have a positive impact on the regional market. On the other side, Europe is anticipated to emerge as the second-largest market for IGBT module. This is owing to the presence of major players in the region such as ABB Ltd., Infineon Technologies, and Semikron, that are increasingly investing in research and development activities. This will favor the growth of the market. To cite an example, new IGBT power modules introduced by Infineon Technologies are gaining popularity on account of their varied features such as voltage topologies and classes, variety of current ratings, and diverse end-use applications. Such innovations are likely to bode well for the global market in the forecast duration.
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