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Market research analysts at Technavio have predicted that the global IGBT-based power module market will grow steadily at a CAGR of more than 8% by 2020. HVDC technology is primarily used for efficiently transmitting large amounts of electricity over long distances. Motors, lights, and other high-power applications use AC voltage. AC voltage produced at the source has the need to be converted to DC power for reducing transmission losses and then converted back to AC electricity at the destination. Voltage-source converters employed for this purpose use insulated-gate bipolar transistor (IGBT) power modules for high voltage applications. HDVC technology involves fewer transmission lines, less land to set up transmission lines, and incur fewer transmission losses. Also, HVDC systems are more stable, can be easily controlled, and can be interconnected with AC power networks, which will, in turn, increase the adoption of HVDC systems in the power sector.
The need to improve performance and reduce cost and weight of vehicles have led to rapid advances in the automotive electrical and electronic design. Electric vehicles have a much faster response time than mechanical automobiles, and there is a rising demand for electric and hybrid electric vehicles across the globe. IGBT inverters are employed in EVs to convert DC to AC and use thyristors as the power switching device. High-power thyristors are also used in soft starters for electric motors in EVs. The growing adoption of electric vehicles will lead to the rise in the usage of high-power thyristors, which, in turn, will contribute to the growth of the market.
Due to the presence of a several IGBT manufacturers, this market appears to be relatively fragmented. The vendor competition in the market is intense and mainly attributes to the strong position of the existing vendors. The requirement of high capital is one of the major barriers that restricts the entry of new players in the market. Technological advances in the power semiconductor industry will further intensify the competition among vendors in the coming years.
The prominent vendors in the market are -
During 2015, the industrial motor drives market segment accounted for more than 50% of the total IGBT-based power module market shares and dominated the industry. This segment’s growth is mainly driven by the increasing need to reduce energy loss in industrial motor drives. IGBTs provide dynamic range control, and the growing adoption of variable speed motor drives increases the use of IGBTs.
This market study estimates that APAC will account for more than 66% shares of the global IGBT-based power module market by 2020 and will also dominate this market throughout the forecast period. The increasing demand for power and infrastructure and economic growth in developing countries such as China, India, and South Korea will be major factors fueling the growth of the market in this region. Additionally, rapid industrialization, the rise in demand for efficient energy sources, and the need to reduce CO₂ emissions will also lead to the rise in demand for IGBT power modules from this region.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Summary of market figures
PART 15: Appendix
PART 16: Explore Technavio
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