IGBT & Thyristor Market Size Worth USD 8.96 Billion by 2034 | CAGR: 4.45%.

The igbt and thyristors market size is expected to reach USD 8.96 Billion by 2034, according to a new study by Polaris Market Research. The report “IGBT & Thyristor Market Size, Share, Trends, & Industry Analysis Report By Packaging Type (IGBT Discrete and IGBT Module), By Power Rating, By Voltage, By Application, and By Region – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

IGBTs (Insulated Gate Bipolar Transistors) and thyristors are high-efficiency semiconductor devices designed to manage and switch electrical power in demanding environments. Used extensively in electric vehicles, industrial motor drives, power transmission systems, and renewable energy infrastructure, these components are critical for maintaining stable performance in high-voltage, high-current applications.

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Growing reliance on electrified transport, decentralized power generation, and energy-efficient industrial equipment is driving the adoption of IGBTs and thyristors across global markets. Applications such as solar inverters, wind power converters, electric vehicle fast chargers, and HVDC systems increasingly rely on high-performance power semiconductor to ensure operational continuity, reduce energy waste, and enhance system reliability.

Top of FormIGBT & Thyristor Market Report Highlights

• In terms of packaging type, the IGBT module segment captured the largest market share in 2024, driven by increasing demand for compact, energy-efficient, and high-performance power electronics across diverse industries.
• Based on application, the electric and hybrid electric vehicle (EV/HEV) segment is expected to register the fastest growth, fueled by accelerating global EV adoption, stringent emission norms, and government incentives for sustainable transportation.
• Asia Pacific dominated the IGBT and thyristor market in 2024, owing to rapid industrialization, urban electrification initiatives, and robust policy backing for energy-efficient solutions.
• North America is anticipated to exhibit strong CAGR growth, supported by advancements in electric mobility, renewable energy integration, and modernization of power infrastructure.
• A few global key market players include Infineon Technologies AG, Fuji Electric Co., Ltd., ON Semiconductor (onsemi), Mitsubishi Electric Corporation, STMicroelectronics N.V., ABB Ltd., Hitachi, Ltd., Toshiba Corporation, Renesas Electronics Corporation, Semikron Danfoss, Dynex Semiconductor Ltd., and Littelfuse, Inc.

Polaris Market Research has segmented the market report on the basis of packaging type, power rating, voltage, application, and region:

By Packaging Type Outlook (Revenue, USD Billion, 2020–2034)

• IGBT Discrete
• IGBT Module

By Power Rating Outlook (Revenue, USD Billion, 2020–2034)

• Low
• Medium
• High

By Voltage Outlook (Revenue, USD Billion, 2020–2034)

• <400 V
• 600–650 V
• 1,200–1,700 V
• 2,500–3,300 V
• >4,500 V

By Application Outlook (Revenue, USD Billion, 2020–2034)

• Power Transmission Systems
• Renewable Energy
• Rail Traction Systems
• Uninterrupted Power Supply
• Electric Vehicles and Hybrid Electric Vehicles
• Motor Drives
• Consumer Electronics
• Others

By Regional Outlook (Revenue, USD Billion, 2020–2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America