As per the report titled ‘IGBT and Thyristor Market Forecast to 2027 - COVID-19 Impact and Global Analysis by IGBT Packaging Type; IGBT Power Rating; IGBT Application; Thyristor Application (Power Transmission Systems, Motor Controllers, Light Dimmers, Pressure Control Systems, Liquid-Level Regulators, Others)’, available with Market Study Report, global IGBT and thyristor market is projected to accrue USD 6.96 billion, registering a CAGR of 4.1% over 2020-2027.
 

As per the report, global IGBT and thyristor market is slated to witness substantial growth on account of ongoing replacement of old power infrastructure, especially in developed countries, and the rising adoption of smart grid systems. Thyristors are used in power electronics to fulfill the demand for solid-state switching devices. Moreover, owing to increasing population, the demand for electricity is also increasing; hence adding significant traction to the market growth. IGBTs and thyristors are used to minimize switching losses and decrease switching times of metal-oxide-semiconductor field-effect transistor (MOSFET) to match current electricity demands. Furthermore, they integrate low conduction losses and high breakdown voltage in bipolar junction transistors (BJTs) to suffice high electricity demands. Moreover, IGBTs and thyristors are gaining popularity as they reduce thermal stress, in turn, increasing lifespan of electric devices, and offer high external thermal performance along with efficiency.
 

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Regionally, APAC is anticipated to dominate global IGBT and thyristor market owing to increasing number of high voltage direct current (HVDC) and flexible alternating current transmission system (FACTS) projects.  Thyristors are integrated with convertors in HVDC lines to convert DC to AC and vice-versa. HVDC systems are finding more applications in APAC region due to low power loss during long-distance power transmission.
 

Major companies functioning in global IGBT and thyristor market are STMicroelectronics, ABB Ltd., Electric Co., Ltd., Mitsubishi Electric Corporation, Rohm Co., Ltd., Fuji, Infineon Technologies AG, Renesas Electronics Corporation, ON Semiconductor, Semikron, and Vishay Intertechnology among others.