Insulated-Gate Bipolar Transistors (IGBTs) Market size worth $ 13.19 Billion, Globally, by 2028 at 9.25% CAGR: Verified Market Research®

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Global Insulated-Gate Bipolar Transistors (IGBTs) Market Overview

Currently, the demand and sale of electric vehicles are vastly growing due to growing awareness about environment-friendly, non-toxic emissions policies and growing degradation of petroleum energy sources, these are the major factors driving the demand of the Global Insulated-Gate Bipolar Transistors (IGBTs) Market. Apart from growing awareness there are many government initiatives towards the development of the smart grid and HVDC for growing infrastructure, this is another factor inclining the growth of global IGBT Market.

There are certain problems related to IGBT (Insulated Gate Bipolar Transistor) like failure mechanisms, wearing out, overstress, high turn-off time, and hampering, these are some of the drawbacks of Insulated Gate Bipolar Transistors that are restraining the growth of the global Insulated-Gate Bipolar Transistors (IGBTs) Market. Additionally, these Insulated Gate Bipolar Transistors are very costly to produce and it directly reflects on their selling price which makes these Insulated Gate Bipolar Transistors unaffordable for many organizations in developing countries.

In recent years, the increasing popularity of these Insulated Gate Bipolar Transistors in electric vehicles. Increasing sales of EVs is projected to push the market growth in the forecast period. Also, major players of the Global Insulated-Gate Bipolar Transistors (IGBTs) Market are investing in research and development for enhancing the capacity, eliminating drawbacks, and reducing the production costs of Insulated Gate Bipolar Transistors, these research and development activities will bring some major growth opportunities for the Global IGBT Market.

Key Developments

Key Players

The major players in the market are ABB Group, Infineon Technologies AG, Fujitsu Ltd., NXP Semiconductors N.V., STMicroelectronics N.V., Toshiba Corporation, IXYS Corporation, Semikron International GmbH, Renesas Electronics Corporation, Fairchild Semiconductor International, Inc., and Fuji Electric Co. Ltd.

Verified Market Research has segmented the Global Insulated-Gate Bipolar Transistors (IGBTs) Market On the basis of Power Rating, Type, Application, and Geography.

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