IGBTs and Thyristors Market Size

IGBTs and Thyristors Market Size

IGBTs and Thyristors Market was valued at over USD 5.5 billion in 2023 and is estimated to register a CAGR of over 2% between 2024 and 2032. For IGBTs (Insulated Gate Bipolar Transistors) and Thyristors, wind and solar power are now major growth drivers. The world is going towards clean forms of energy hence there is increased demand for efficient power conversion and control technologies which can be used to integrate renewable energy systems with the existing grid. IGBTs and Thyristors are vital in renewable energy applications because they convert direct current produced by solar panels and wind turbines into usable alternating current that goes through transmission lines.

IGBTs and thyristors market is growing rapidly due to urbanization and infrastructure development. Modernized infrastructure such as intelligent buildings, transportation systems, and energy grids are envisaged as a way of dealing with the global rise in urban population. For these infrastructures to have efficient energy management, control and distribution, they will need advanced power electronic solutions. Some of the essential applications for IGBTs and thyristors include Electric Vehicles (EVs), renewable energy systems, smart grids, and industrial automation.
 

Thermal management is a hurdle in the IGBTs and thyristors market since a high level of heat is generated during operation. This heat dissipation, if not managed well, can result in degraded performance as well as reliability problems. Inadequate thermal management can lead to thermal runaway whereby temperatures exceed safe operating ranges, eventually leading to device failure.