TechNavio, the independent tech-focused global research firm, has announced the publication of its report on the Global IGBT-based Power Module Market. The market is projecting a CAGR of 12.32 percent from 2014-2018 thanks, in part, to adoption of the technology in the renewable energy segment.
IGBTs have a high switching frequency, which reduces power consumption, decreases heat dissipation, and conserves energy. They are used in power generation, transmission and supply and have high on-state power density and low on-state voltage drop, which helps in the manufacturing of smaller integrated chip packages that conserve energy. This technology is used extensively in UPS, wind power generators, inductive heating cookers, high-frequency welding equipment, motor drives, and solar power generators.
A global need to conserve energy and develop renewable energy sources will continue to spur growth in the IGBT market.
“It is estimated that global energy consumption will increase by over 60 percent by 2030, which is also expected to enhance the adoption of IGBT-based power modules in wind turbines,” says Faisal Ghaus, Vice President of TechNavio Research.
“These modules are used in wind turbine converters as well as in grid converters and inverters in solar panels to increase power efficiency and switching speed. The growing need for increased thermal capacity and power cycling capacity is also playing a significant role in driving the adoption of IGBT-based power modules.”
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
TechNavio (technavio.com) is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.
TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of the Global Global IGBT-Based Power Module Market. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.