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The IGBT Market is projected to grow by USD 10.8 Billion from 2024-2028, with AI driving market evolution and government support for EVs and HEVs boosting growth – Technavio

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NEW YORK, Sept. 25, 2024 /PRNewswire/ — The Global IGBT Market size is estimated to grow by USD 10.8 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 15.31%  during the forecast period. Increasing government support for EV or HEVS is driving market growth, with a trend towards functional consolidation of semiconductor devices, However, rising competition from wide bandgap (wbg) semiconductor materials  poses a challenge – Key market players include ABB Ltd., Danfoss AS, Fuji Electric Co. Ltd., Hitachi Ltd., Infineon Technologies AG, IXYS Corp, Jilin Hua Microelectronics Co. Ltd., Littelfuse Inc., MagnaChip Semiconductor Corp., Microchip Technology Inc., Mitsubishi Electric Corp., NXP Semiconductors NV, ON Semiconductor Corp., Renesas Electronics Corp., ROHM Co. Ltd., Sanken Electric Co. Ltd., SEMIKRON Elektronik GmbH and Co. KG, STARPOWER SEMICONDUCTOR Ltd., STMicroelectronics International N.V., and Toshiba Corp..

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Igbt Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 15.31%

Market growth 2024-2028

USD 10796.1 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

12.94

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 52%

Key countries

China, Japan, South Korea, US, and India

Key companies profiled

ABB Ltd., Danfoss AS, Fuji Electric Co. Ltd., Hitachi Ltd., Infineon Technologies AG, IXYS Corp, Jilin Hua Microelectronics Co. Ltd., Littelfuse Inc., MagnaChip Semiconductor Corp., Microchip Technology Inc., Mitsubishi Electric Corp., NXP Semiconductors NV, ON Semiconductor Corp., Renesas Electronics Corp., ROHM Co. Ltd., Sanken Electric Co. Ltd., SEMIKRON Elektronik GmbH and Co. KG, STARPOWER SEMICONDUCTOR Ltd., STMicroelectronics International N.V., and Toshiba Corp.

Market Driver

The Industrial Internet trend is driving the integration of digital control in power systems, making inverters, drive controls, and electrical equipment compatible. This consolidation of semiconductor devices, including sensors, ICs, microcontrollers, and IGBTs, can lead to performance improvements and semiconductor advances. The analysis of data generated from these devices can reveal key areas for application and semiconductor device enhancements. This will result in more efficient and reliable IGBTs, enhancing circuit performance and ensuring smooth operations. These benefits are anticipated to fuel the growth of the IGBT market during the forecast period. 

IGBT market trends include advancements in power device technologies, particularly inverter applications using power transistors. Heat dissipation and carbon dioxide emissions are key concerns, driving the need for high-efficiency semiconductors. The cost of electricity influences the adoption of IGBTs in various electronic products, from electric vehicles (EVs) and industrial equipment to renewable projects like solar and wind power. IGBTs are essential for DC-AC conversion in EVs and solar inverter applications. Semiconductor manufacturers like Microchip Technology focus on developing high-power semiconductor devices to meet increasing power consumption demands. Industrial systems, motor drives, and power MOSFETs also utilize IGBTs for frequency and voltage control. The electrification of industries and the growing 5G adoption further boost the market. Efficiency, emissions, and fuel efficiency are critical factors, with IGBTs offering high turn-off time and thermal resistivity as a low-cost alternative. 

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Market Challenges

WBG semiconductor materials, such as silicon carbide (SiC) and gallium nitride (GaN), offer significant advantages for power semiconductor devices. These materials enable high voltage, high temperature, and higher switching frequencies with good thermal conductivity. SiC, in particular, has a superior ampere capacity, allowing a single 150mm SiC wafer to handle current equal to two 200mm silicon wafers. The energy efficiency and system cost reductions achievable with these materials surpass those of traditional IGBT devices. SiC-based devices, like SiC MOSFET and SiC diodes, are widely used in high-end power supplies. GaN-based devices, such as GaN FET and GaN devices at 600V, are also available, but their use in appliances is still experimental. Infineon Technologies AG, a market leader, has acquired Cree Inc.’s Wolfspeed and International Rectifier, making it a leading player in SiC-based power semiconductors. Infineon is currently developing next-generation transistors based on SiC and GaN. Transphorm Inc. Is another player focusing on GaN-based devices that can operate at higher voltages. These potential advancements could replace IGBTs during the forecast period. Despite IGBTs being less expensive and easier to manufacture, industries prioritizing precision over cost are moving towards SiC and GaN-based devices.

IGBT market is experiencing significant growth due to increasing demand in various industries. Electric cars and renewable energy sectors are major drivers, with IGBTs used in motor drives and inverters for electric vehicles, and in power conditioners and converter circuits for solar and wind power. Semiconductors, including IGBTs, are essential in the electronics manufacturing industry for 5G adoption and consumer electronics. Industrial systems also rely on IGBTs for efficient power transmission and distribution in electrification and industrialization. However, challenges persist. IGBTs face high power consumption and thermal resistivity issues, especially in industrial equipment and motor drives. Humidity and aging power infrastructure can also impact performance. To address these challenges, companies like Microchip Technology are developing low-cost alternatives and improving efficiency. Fuel prices and emissions concerns are driving the shift towards electric vehicles and green energy, further boosting the IGBT market.

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Segment Overview 

This igbt market report extensively covers market segmentation by  

Product 1.1 IGBT modules1.2 Discrete IGBTsApplication 2.1 EV or HEVs2.2 Industrial2.3 Motor drives2.4 Consumer appliance2.5 OthersGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 IGBT modules-  The IGBT market is primarily driven by the demand for high-power devices, making IGBT modules a preferred choice over discrete IGBTs. With each IGBT module containing multiple discrete IGBTs, they offer greater compatibility for high-power applications. The global need for energy efficiency and the increasing adoption of electric vehicles (EVs) and wind energy systems are boosting the demand for IGBT modules. However, the emergence of wide bandgap (WBG) semiconductor devices as alternatives to IGBT modules may impact market growth during the forecast period. Despite this challenge, the IGBT market is projected to experience substantial year-on-year growth due to the expanding requirement for high-power density solutions and government initiatives promoting energy conservation.

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Research Analysis

The IGBT (Insulated Gate Bipolar Transistor) market is witnessing significant growth due to its application in various power device technologies, particularly inverter applications. IGBTs are high-power semiconductor devices that offer superior performance in terms of frequency and voltage handling, making them ideal for power conversion in electronic products. The increasing adoption of renewable energy sources like solar and wind power is driving the demand for IGBTs in solar inverter applications. IGBTs help in converting DC voltage from solar panels into AC voltage for grid connection. The EV market is another major application area for IGBTs, where they are used in electric vehicles (EVs) for motor control and power conversion. The cost of electricity and carbon dioxide emissions are key factors driving the shift towards electrification and the use of IGBTs in power transmission & distribution and smart grids. IGBTs also offer high turn-off time, making them suitable for industrialization applications. Inverter applications, electric cars, and renewable projects are some of the major areas where IGBTs are finding extensive use. The market is expected to grow further as the demand for fuel efficiency and sustainable energy solutions increases.

Market Research Overview

The IGBT (Insulated Gate Bipolar Transistor) market is experiencing significant growth due to the increasing demand for power device technologies in various applications. IGTBs are essential components in inverter applications, particularly in power transistors, which play a crucial role in converting DC voltage to AC voltage for various electronic products. The EV market, including electric vehicles (EVs), is a major driver for IGBTs due to their high power handling capabilities and efficiency. IGBTs are also used in renewable projects, such as solar inverter applications, to convert DC voltage from solar panels to AC voltage for grid connection. The cost of electricity and carbon dioxide emissions are key factors driving the adoption of IGBTs in renewable energy. In the electronics manufacturing industry, IGBTs are used in high-power semiconductor devices, industrial equipment, motor drives, and inverters. The 5G adoption is also expected to boost the demand for IGBTs due to their high-frequency and voltage handling capabilities. IGBTs offer several advantages, including high efficiency, low power consumption, and thermal resistivity. However, challenges such as high turn-off time, humidity, and the need for a low-cost alternative persist. IGBT modules are used as power conditioners and converter circuits in various applications, including electric cars, industrial systems, and green energy projects. The aging power infrastructure, fuel prices, and the need for electrification and electricity transmission & distribution are other factors driving the growth of the IGBT market. The solar energy industry, wind power, and industrialization are also significant end-users of IGBTs.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductIGBT ModulesDiscrete IGBTsApplicationEV Or HEVsIndustrialMotor DrivesConsumer ApplianceOthersGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Sapient Insights Group Reveals the HR Technology Solutions Ranking Highest in Vendor Satisfaction and User Experience for 2026

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Voice of the Customer badges awarded across 23 HR technology categories, based on 10,000 responses to Sapient’s 2026-2027 Annual HR Systems Survey

LAS VEGAS, Oct. 21, 2026 /PRNewswire-PRWeb/ — Sapient Insights Group today revealed the HR technology solutions ranking highest in vendor satisfaction and user experience in its 2026-2027 HR Systems Survey, now in its 29th year. This year Sapient awarded 630 Voice of the Customer badges across 23 technology categories and three company sizes. The rankings are based on responses from HR professionals representing 6,038 organizations.

Stacey Harris, Chief Research Officer and Managing Partner at Sapient Insights Group, presents the HR technology solutions ranking highest in vendor satisfaction and user experience for 2026.

To help buyers find the providers that fit their organization, the rankings are split into three company sizes: small, mid-sized, and enterprise. Respondents rate their satisfaction with their current solution in each technology category on a scale of 1 to 5, with attention to support and service. Sapient also ranks solutions on user experience. The top five solutions in each category and size earn a badge for vendor satisfaction and a badge for user experience. Three categories with smaller sample sizes (Time Labor Budgeting, Contingent Workforce Management, and Skills Management) are ranked in aggregate across all company sizes.

The survey continues to grow with the HR technology market. New this year, the survey adds Compliance Management to the HR Blueprint, application-level outcome questions, payment models for applications and AI, and finance applications covering Core, Expense, and Planning. It also asks more “why” questions throughout, so the results show not just what organizations are doing but the reasons behind their choices.

“Our Voice of the Customer rankings come straight from HR practitioners, with no sponsorship involved, which is why buyers and vendors both pay attention to them,” said Stacey Harris, chief research officer and managing partner at Sapient Insights Group. “This year we expanded the rankings to cover more of the HR technology landscape, which gives buyers a clearer view of how solutions perform for the specific work they need done, not just at the suite level. It also gives vendors honest feedback from the people who use their products every day.”

The highest-ranking solutions for vendor satisfaction are listed below. Rankings include point solutions, modules within technology suites, and in some cases service providers.

Payroll
Dayforce – Enterprise
isolved – Mid-sized
BambooHR – Small

HR Management
Dayforce – Enterprise
HiBob – Mid-sized
BambooHR – Small

Benefits
Businessolver – Enterprise
Fidelity NetBenefits/PSW – Mid-sized
HiBob – Small

HR Service Delivery: Portal
Dovetail – Enterprise
Workday Help – Mid-sized
isolved – Small

HR Service Delivery: Content Management
Dovetail – Enterprise
DocuSign – Mid-sized
isolved – Small

HR Service Delivery: Employee Help Desk
Dovetail – Enterprise
ServiceNow – Mid-sized
isolved – Small

HR Service Delivery: Engagement Survey
Dovetail – Enterprise
isolved – Mid-sized
BambooHR – Small

Time and Attendance
Darwinbox – Enterprise
isolved – Mid-sized
isolved – Small

Absence Management
Darwinbox – Enterprise
isolved – Mid-sized
BambooHR – Small

Leave Management
Darwinbox – Enterprise
isolved – Mid-sized
isolved – Small

Workforce Scheduling
Darwinbox – Enterprise
isolved – Mid-sized
isolved – Small

Labor Budgeting
isolved – All sizes

Learning
Cornerstone – Enterprise
OpenSesame – Mid-sized
isolved – Small

Recruiting
Indeed – Enterprise
Greenhouse – Mid-sized
BambooHR – Small

Onboarding
Dayforce – Enterprise
isolved (ApplicantPro) – Mid-sized
BambooHR – Small

Performance
Dayforce – Enterprise
HiBob – Mid-sized
BambooHR – Small

Compensation
Dayforce – Enterprise
Payscale Payfactors – Mid-sized
Insperity – Small

Succession
Dayforce – Enterprise
Microsoft Glint – Mid-sized
Paylocity – Small

Rewards and Recognition
Awardco – Enterprise
isolved – Mid-sized
Gifted – Small

Analytics
Visier – Enterprise
Visier – Mid-sized
UKG People Analytics – Small

AI/ML
Visier Vee – Enterprise
Grammarly – Mid-sized
Anthropic Claude – Small

Contingent Workforce Management
ServiceNow – All sizes

Skills Management HiBob – All sizes

The complete Voice of the Customer results, including the top five solutions for vendor satisfaction and user experience in every category and company size, are available here (https://sapientinsights.com/top-vendors/).

Sapient Insights Group will publish detailed survey findings and analysis in its annual HR Systems Research Report on November 6, 2026. The report will be available to purchase here (https://sapientinsights.com/shop/).

About the 2026-2027 HR Systems Survey

Now in its 29th year, Sapient’s HR Systems Survey is the longest-running, most comprehensive survey of the HR technology landscape, and the only fully objective, non-sponsored study of its kind. This year, HR professionals representing 6,038 organizations around the globe took part. The survey now covers 23 technology categories. The annual report includes an in-depth look at each category, along with current and future adoption rates, customer retention, replacement plans, and projected vendor growth.

For more information about the survey and report, schedule a call (https://calendly.com/summerorellano/schedule-a-call-with-sapient-insights-group).

About Sapient Insights Group Sapient Insights Group is a certified women-owned, privately-owned consulting, research, and advisory firm. The company works with organizations in the areas of HR and finance technology; HR strategy and transformation; leadership and culture; change management; talent management; mergers and acquisitions; and project management. The company’s HR Systems Survey is the HR profession’s most trusted source for objective data on the HR technology market and insights to guide buyer investments and vendor product development and marketing. For more information, visit www.sapientinsights.com.

Media Contact

Allison Williams, Sapient Insights Group, 1 4043044748, Info@sapientinsights.com, https://sapientinsights.com/

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SOURCE Sapient Insights Group

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SAJ Debuts First CEC-Approved Systems under Australia’s New Battery Standard at All Energy 2026

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EK70 HS5 and EK90 HS5 on show at Stand M143, with Australia’s Strongest Man at Stand E01 and the SAJ range across three distributor stands

MELBOURNE, Australia, Oct. 22, 2026 /PRNewswire/ — SAJ will exhibit at All Energy Australia 2026 at the Melbourne Convention and Exhibition Centre on 28–29 October. At Stand M143, installers can get their first hands-on look at the EK70 HS5 and EK90 HS5, the first products approved under Australia’s new SA TS 5398 standard.

At 2pm on Wednesday 28 October, DEKRA and CCS will present SAJ with the CEC certificates for the EK70 HS5 and EK90 HS5 on the stand, making SAJ the first brand listed under SA TS 5398. SAJ and DEKRA will also sign a strategic cooperation agreement covering safety, quality and compliance.

On the stand

EK70 HS5 – the all-in-one home energy system, combining hybrid inverter, LFP battery and whole-home backup in one unit. Modular 6, 7 and 9 kWh battery blocks stack to suit the household.EK90 HS5 – the premium tier, with 12,000-cycle cells, nine-layer safety protection, edge AI and a 15-year warranty.B2S and H2 – modular storage and the latest from SAJ’s residential range.elekeeper 5.0 – SAJ’s energy management app, with AI-assisted design, five-minute app commissioning and remote diagnosis.C&I – SAJ’s latest commercial and industrial solutions.

Live demonstrations of the EK70 HS5 and EK90 HS5, elekeeper 5.0 and the C&I range run at 10am on both days and again at 3pm on Wednesday.

Visitors can also play the claw machine on the stand throughout both days to win tennis balls signed by SAJ brand ambassador Alex de Minaur.

Beat Australia’s Strongest Man of 2026 at Stand E01

At Stand E01, near the hall entrance, visitors can take on Bradman Houston, Australia’s Strongest Man 2026, on the high striker. Bradman will be there each day. Anyone who beats his score wins!

Bradman recently partnered with SAJ and Sydney Solar & Electrical on a video series about lifting technique and fitness for solar installers, now on SAJ’s Instagram.

SAJ across the floor

The SAJ range is also on show with the company’s three national distribution partners, for stock, pricing and account conversations:

One Stop Warehouse – Stand EE113, with the EK90 HS5 on displaySupply Partners – Stand L135Tradezone – Stand S113

“All Energy is where the industry sees what’s next, and for SAJ that’s the EK70 HS5 and EK90 HS5,” said Alan Li, the Sales Director of SAJ Electric Australia. “Installers told us they want one integrated system that’s faster to install and that they can stand behind. Being the first brand listed under SA TS 5398 is the proof. We’d love installers to see both systems up close at Stand M143, and to try their luck against Bradman at E01 while they’re there.”

Visit SAJ

Where: Stand M143 (Beat the Strongest Man at Stand E01), Melbourne Convention and Exhibition CentreWhen: Wednesday 28 – Thursday 29 October 2026More information: au.saj-electric.com

About SAJ

Founded in Guangzhou in 2005, SAJ (Guangzhou Sanjing Electric Co., Ltd.) is a specialist in smart energy storage, delivering integrated solutions across solar generation, battery storage, energy management and EV charging for residential and commercial customers. SAJ has operated in Australia since 2013 and works with three national distribution partners – One Stop Warehouse, Supply Partners and Tradezone – backed by local technical support and warranty infrastructure.

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SOURCE SAJ

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Starvia Automotive Expands Used-Car Exports to Afghanistan and Iran

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GUANGZHOU, China, Oct. 22, 2026 /PRNewswire/ — Starvia Automotive has added Afghanistan and Iran to the destinations covered by its used-car export business, the company said on Oct. 21, as it focuses on used vehicles built to Chinese-market specifications. Buyers in both markets can now request an assessment of a specific vehicle before an order is confirmed.

What the review covers

For a used vehicle, the model name alone does not determine whether an export order can proceed. Year of manufacture, vehicle identity, condition, ownership documents and destination import rules are reviewed for each request, together with carrier acceptance, transit requirements and payment restrictions, according to the company.

Starvia cited two listings in its online used-car catalog as examples of the process: a 2023 Volkswagen Polo and a 2021 Volkswagen Tharu. The company said the listings show published stock and do not confirm that either unit is available or eligible for import into both markets. Stock, vehicle records and destination suitability are confirmed before a model is presented as an order option.

How an inquiry is handled

Inquiries are submitted through the company’s online form, which asks for destination city, importer details, preferred vehicle, quantity and purchasing timeframe. Starvia said the information is used to identify suitable vehicles, check documentation and seek a transport option, and that alternatives can be discussed if the first model does not meet the requirements.

An Arabic-language version of the site is available at https://www.starviaauto.com/ar?utm_source=prnews for buyers who prefer Arabic.

Any vehicle offer, freight estimate or shipment timing remains subject to commercial, regulatory and logistics checks, the company said. Buyers should obtain destination-side import approval before committing to a purchase.

About Starvia Automotive

Starvia Automotive is a Guangzhou-based exporter of new and used vehicles. Its online catalog lists used cars with vehicle history and inspection information for buyers in multiple regions.

View original content:https://www.prnewswire.co.uk/news-releases/starvia-automotive-expands-used-car-exports-to-afghanistan-and-iran-302915298.html

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