IGBT Market Worth $6.48 Billion and Thyristor Market Worth $3.20 Billion by 2018

According to the new market research report "IGBT and Thyristor Market by Application (Power, Renewable Energy, Motor Drives and Others) and by Geography (North America, Europe, APAC and ROW) - Analysis and Forecast 2013 - 2018", the global IGBT market is estimated to grow at a CAGR of 13.92% from 2013 to 2018. On the other hand, global thyristor market is estimated to grow at a CAGR of 9.52% from 2013 to 2018.

Browse 53 market data tables and 48 figures spread through 185 pages and in-depth TOC on "IGBT and Thyristor Market"

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The Global IGBT and Thyristor Market by application is in its growth stage, however, it contains a great potential across many industry verticals. The IGBT is gaining attention due to lower switching losses that reduces thermal stress on the electric devices and leads to longer life cycle and greater reliability. The highlighting features like high efficiency, external thermal performance and soft switching operations have made IGBT the best suited device in electronic market. The aging power infrastructure in developed geographical regions demands replacement, increasing number of offshore wind farm, increase in the government incentivization to establish HVDC grid. De-carbonization of power system and deployment of smart grid will boost IGBT and Thyristor market which would be the captivating essentials for new entrants as well as winning opportunities for the established players.

This report describes the market trends, drivers, and challenges with respect to the Global IGBT and Thyristor Market and forecasts the market to 2018, based on applications and geography. This global report gives a detail view of the market across geographies - North America (U.S., Canada, and others), Europe (U.K., Germany, and others), the Asia-Pacific (China, Japan, Korea, and others), and ROW (Russia, and others). Europe is the largest geography in terms of the IGBT and Thyristor Market value. APAC has been identified as the fastest growing region, with China and Japan leading the way. North America and ROW are also very promising markets, with Germany and the U.K. in Europe, and the Middle-East and Latin America in ROW providing impetus to the growth. The report profiles more than 10 promising players in the IGBT and Thyristor market ecosystem.

For developed economies like Europe, the main focus is on upgrading and replacing the existing power infrastructure and to integrate the renewable energy sources, such as wind power and solar energy in the power grids clean environment. The biggest challenge in North America is its aging power infrastructure which needs to be replaced or upgraded but the cost of building new transmission lines is very high. The power failure resulting in blackouts in August 2003 motivated the power industry to develop efficient, reliable, and technically advanced transmission systems to avoid further incidences. Further, the power generation and transmission from renewable energy also support the demand of HVDC grid in the region. Interconnection among the neighboring grids and connection with offshore wind farms and solar plants will drive the American HVDC grid market.

The huge opportunities in the HVDC & FACTS project activities contentious to power generation and distribution is expected to drive the entire IGBT & Thyristor market to the highest summit. The companies in the field of power application are expected to gain significant market share in the coming future and the application would prove the focal tenacity to broaden the overall revenue of the whole IGBT & Thyristor market. The APAC countries such as Japan and China are the major countries in the market competition owing to significant spending on the power sector for IGBT & Thyristor.

ABB (Switzerland), one of the major players in the field of power systems, covers nearly more than 100 countries with its vast network. ABB has widened its scope of development in recent years by their strategic initiatives in new product development and retrofit market. With its diversified subsidiaries, it is targeting the process industries, which helps them in becoming one of the key contributors in various application industries. ABB expanded by signing a contract worth around $60 million with American Electric Power (AEP) to replace a 30-year-old HVDC back-to-back converter station in Texas and another contract with the Dutch-German transmission system operator, TenneT, to supply an AC (alternating current) power transmission line connecting Sandbank. ABB believes in expansion by means of mergers and acquisitions. Through this, they have targeted to fulfill the portfolio gap between geographic, product, and end-market lines. ABB believes that the low voltage market will be the major contributor in established and emerging markets. For the development of vertical industrial segments, ABB had acquired Thomas & Betts (U.S.) and plans to do more acquisitions in the future.

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