IGBT and thyristor market seen reaching $11.43 billion by 2030

The global insulated gate bipolar transistor and thyristor market is projected to grow from $8.94 billion in 2026 to $11.43 billion by 2030, driven by electric vehicles, renewable energy systems and high-voltage power conversion. North America led the market in 2025, while Asia-Pacific is expected to be the fastest-growing region.

Why it matters: - The insulated gate bipolar transistor and thyristor market sits at the center of power switching, motor control and power conversion across industrial and transportation systems. - Growth in this market signals rising demand for more efficient semiconductor devices as electrification spreads across vehicles, grids and industrial equipment. - The market is projected to reach $11.43 billion by 2030, underscoring continued investment in power electronics.

What happened: - The Business Research Company said the global insulated gate bipolar transistor and thyristor market is expected to grow at a 6.3% compound annual growth rate through 2030. - The market is forecast to rise from $8.94 billion in 2026 to $11.43 billion by 2030. - The report covers Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa. - The company released a 2026 market report on insulated gate bipolar transistor and thyristor trends, size and forecasts for 2026-2035, with a sample request and full report available via the company’s website. - Download the sample report - View the full market report

The details: - The market grew from $8.37 billion in 2025 to $8.94 billion in 2026, a 6.8% annual increase. - Historical growth was driven by demand for power electronic switching devices, industrial motor drives, power transmission infrastructure, uninterrupted power supply systems and high-current semiconductor components. - Future growth is expected to come from high-voltage power conversion, renewable energy deployment, electrification of transportation infrastructure, efficient power management and advanced power semiconductor technologies. - The report points to wider adoption of higher-voltage IGBT and thyristor devices, stronger demand for high-power and high-current switching solutions, more efficient power semiconductor products, better thermal management and more reliable power semiconductor modules. - An IGBT is a power semiconductor device designed to control and switch high voltage and current in electrical circuits. - A thyristor is a four-layer semiconductor component that stays conducting after triggering until current drops below a holding threshold. - Both devices are used to manage power flow in industrial and commercial applications. - North America held the largest market share in 2025. - Asia-Pacific is expected to be the fastest-growing region during the forecast period.

Between the lines: - Electric vehicles are emerging as a major demand engine because IGBTs and thyristors help with power conversion, motor control and battery charging. - Kelley Blue Book said that in 2023 about 1.2 million US car buyers chose electric vehicles, equal to 7.6% of total vehicle sales, up from 5.9% in 2022. - That adoption trend suggests more volume for semiconductor suppliers as EV manufacturing and charging infrastructure expand. - The regional split suggests mature demand in North America and faster expansion where industrialization, electrification and renewable deployment are accelerating.

What's next: - The market’s next phase appears tied to continued EV adoption, grid upgrades, renewable energy buildout and transport electrification. - The report expects more investment in advanced semiconductor technology and thermal management as demand shifts toward higher-power applications. - The company says its 2026 research package includes market attractiveness scoring, TAM analysis, company scoring matrices, forecasting dashboards, market hotspot infographics and updated graphics and tables.

The bottom line: - IGBTs and thyristors are set to remain essential components in the electrification economy, with growth strongest where high-power switching is needed most.