Automotive IGBTs Market Size, Share, Growth Analysis, By Voltage Analysis(Low Voltage, Medium Voltage, High Voltage), By Application(Consumer Electronics, Industrial Manufacturing, Automotive, Inverters), By Region - Industry Forecast 2024-2031

Global Automotive IGBTs Market size was valued at USD 6.44 billion in 2022 and is poised to grow from USD 7.08 billion in 2023 to USD 15.06 billion by 2031, at a CAGR of 9.9% during the forecast period (2024-2031).

They are commonly used in high-voltage applications that demand lower conduction losses due to their increased switching frequency. Consumer electronics, energy & electricity, rail, and the automobile industries are all experiencing increased demand for it. IGBTs, also known as insulated gate bipolar transistors, are voltage-controlled switching components that have largely supplanted BJTs and MOSFETs in power applications. Insulated Gate Bipolar Transistors [IGBT] are suited for high-voltage, high-current applications and have been created to drive high-power applications with a low-power input. IGBTs are utilised to provide fast switching with great efficiency, a constant power supply, and they accomplish this by reducing the excessive power supply. By introducing less switch loss, it reduces the heat tension on electric equipment or appliances, extending the life of the equipment. The power MOSFET, which accounts for 30% of the power transistor market, is the most extensively used power transistor, followed by the IGBT. IGBTs are frequently used in consumer electronics, industrial technologies, automotive (EV/HEV), inverters/UPS, the energy industry, aerospace electronics, and transportation.

US Automotive IGBTs Market is poised to grow at a sustainable CAGR for the next forecast year.