IGBT module market grows rapidly

With the advancement of the photovoltaic and wind power industries, the IGBT module market is growing rapidly. According to Omdia data, the market size of IGBT modules reached US$3.6 billion in 2020, with a compound annual growth rate of 18% from 2016 to 2020. It is expected that new energy vehicles will surpass industrial control in 2024 and become the largest downstream market for IGBT.