The North America Insulated-Gate Bipolar Transistors (IGBTs) Market would witness market growth of 5.8% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 11,548.0 thousand units, showcasing a growth of 22.3% (2019-2022).
One of the distinguishing features of IGBTs is their precise switching control, facilitating seamless transitions between on and off states. This attribute is crucial in applications requiring precise control over power flows, such as motor drives and frequency converters. Its integration in renewable energy systems, including solar inverters and wind power converters, underscores its role in harnessing clean energy and facilitating the integration of renewable sources into conventional power grids.
Increasing emphasis on compact and lightweight power electronics solutions drives the trend towards enhanced power density in IGBTs. Materials and design innovations focus on higher power density, enabling more efficient and smaller form factor devices. The demand for higher switching frequencies is growing, particularly in applications such as motor drives and power converters. Higher switching frequencies contribute to reduced losses and improved efficiency, making IGBTs suitable for advanced power electronics systems.
Mexico's expansive renewable energy potential creates a synergistic relationship with the market. As the country continues to invest in and expand its clean energy capacity, the demand for IGBTs is poised to increase, supporting the advancement and sustainability of Mexico's renewable energy sector. Therefore, the expansion of renewable energy is propelling the growth of the market.
The US market dominated the North America Insulated-Gate Bipolar Transistors (IGBTs) Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,615.7 million by 2030. The Canada market is showcasing a CAGR of 8.2% during (2023 - 2030). Additionally, The Mexico market would register a CAGR of 7.3% during (2023 - 2030).
Free Valuable Insights: The Insulated-Gate Bipolar Transistors (IGBTs) Market is Predict to reach $14.2 Billion by 2030, at a CAGR of 6.3%
Based on Power Rating, the market is segmented into High Power, Medium Power and Low Power. Based on Type, the market is segmented into IGBT Module and Discrete IGBT. Based on Application, the market is segmented into Energy & Power, Inverter & UPS, Electric Vehicle, Industrial System, Consumer Electronics and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Power Rating (Volume, Thousand Units, USD Billion, 2019-2030)
By Type (Volume, Thousand Units, USD Billion, 2019-2030)
By Application (Volume, Thousand Units, USD Billion, 2019-2030)
By Country (Volume, Thousand Units, USD Billion, 2019-2030)
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