The India IGBT Market Size was estimated at 0.82 (USD Billion) in 2023. The India IGBT Market Industry is expected to grow from 1.5 (USD Billion) in 2024 to 5 (USD Billion) by 2035. The India IGBT Market CAGR (growth rate) is expected to be around 11.567% during the forecast period (2025 - 2035).
The India IGBT Market is currently experiencing significant growth driven primarily by the increasing demand for energy-efficient solutions across various sectors. A notable key market driver is the push from the Indian government towards renewable energy initiatives, such as solar and wind projects, outlined in policies like the National Solar Mission and the National Wind-Solar Hybrid Policy. This shift not only promotes the adoption of IGBT technology, which is crucial for inverters and converters in renewable systems, but also encourages investments in smart grid solutions. Moreover, there are considerable opportunities to be explored in sectors such as electric vehicles (EVs) and industrial automation.
The increase of electric vehicles in India gives rise to new opportunities in power conversion systems using IGBTs, in line with the Indian government’s objectives to reduce carbon emissions and promote electric mobility under the FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme.
There is also an emerging trend where there is an increased need for IGBTs in consumer electronics and home appliances because of a preference shift towards more energy-efficient appliances. Moreover, greater emphasis on smart manufacturing using IoT and AI in many industries raises the need for IGBT devices, further highlighting their importance in many different fields.
As the market evolves, technological advancements are likely to foster continuous improvement in the performance and efficiency of IGBTs, ensuring their critical role in supporting India's economic growth and sustainability goals.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
In India, the push towards renewable energy sources, particularly solar and wind, is significantly driving the India IGBT Market Industry. The Ministry of New and Renewable Energy (MNRE) has set ambitious targets to achieve 175 GW of renewable energy capacity by 2022, which further aims for 450 GW by 2030. This represents a substantial increase and creates a demand for efficient inverter systems utilizing Insulated Gate Bipolar Transistors (IGBTs).
The use of IGBTs in power electronic applications like converters and inverters is crucial for efficient renewable energy integration. As the country accelerates its transition towards a sustainable energy framework, this growth in the renewable energy sector can project a significant increase in IGBT demand. The present generation of renewable projects is supported by various state and national policies, positioning IGBTs as critical components for future installations.
The electric vehicle sector in India is witnessing rapid growth, driven by government initiatives like the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme. With a target of achieving 30% electric vehicle sales by 2030, the need for high-performance IGBTs is increasing. IGBTs play a crucial role in electric vehicles by improving energy efficiency and performance, specifically in the inverter stage for motor control. As automotive companies like Tata Motors and Mahindra & Mahindra invest heavily in electric mobility, the need for sophisticated power electronics solutions, including IGBTs, is projected to drive market growth in the India IGBT Market Industry.This burgeoning sector will thus significantly elevate the demand for IGBTs in the coming years.
There is a heightened focus on energy efficiency within Indian industries, primarily in the manufacturing and automation sectors. The government encourages energy-efficient practices through initiatives like the Perform, Achieve and Trade (PAT) scheme, helping industries reduce their energy consumption. IGBTs are integral to various industrial equipment, such as motor drives and power supplies, enabling more efficient operations. With the increasing push for competitive manufacturing practices and reduced operational costs, the adoption of IGBT technology is expected to rise within industries that employ machinery and equipment that require precise and efficient control of electric power.This trend will positively impact the India IGBT Market Industry, positioning it for significant growth.
The Indian government is actively promoting the power electronics sector through various policies and guidelines, enhancing the attractiveness of both domestic and foreign investments in technologies like IGBTs. The Atmanirbhar Bharat initiative aims to boost manufacturing capabilities and reduce reliance on imports. With support from organizations like the Ministry of Electronics and Information Technology, significant investments in Research and Development are being encouraged.These investments will facilitate innovation and production efficiency crucial for IGBT technology. This favorable policy environment, resulting in increased investments and infrastructure development in the India IGBT Market Industry, will likely serve as a primary growth driver.
The Voltage segment of the India IGBT Market is a critical area that encompasses various levels of applications, which are categorized into low voltage, medium voltage, and high voltage classifications. Each of these classifications serves distinct sectors and plays a significant role in enhancing energy efficiency and performance across multiple industries. Low Voltage solutions are widely used in consumer electronics and automotive applications, facilitating energy savings and improved functionality. The Medium Voltage sector, on the other hand, finds its essential utility in industrial applications such as automation and renewable energy systems, allowing for effective control and distribution of energy.
High Voltage IGBTs cater to applications that operate under extreme conditions, such as high-speed rail systems and large-scale renewable energy projects, contributing to grid stability and energy transmission efficiency. As the demand for sustainable energy solutions grows in India, the importance of these Voltage classifications becomes even more pronounced. Government initiatives and policies in support of clean energy are encouraging investments in technologies that utilize IGBTs across all voltage segments. The India IGBT Market segmentation further indicates that the rising adoption of electric vehicles and renewable energy technologies will enhance the significance of all voltage levels.
With the expected market growth driven by these technological advancements and increasing energy efficiency standards, Voltage segments will continue to evolve, resulting in enhanced performance and reduced costs for end-users. The trend towards digitalization within industries only amplifies this growth as more efficient power management systems become a necessity. In conclusion, each Voltage category within the India IGBT Market is integral to the overall progress of the industry, offering unique benefits that cater to the diverse energy demands across India, which has seen remarkable strides in infrastructure development and technological integration.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The Application segment of the India IGBT Market is a vital component, showcasing diverse usages across various industries. Consumer Electronics is seeing increased adoption due to the rising demand for efficient power management systems, particularly in appliances and gadgets. Industrial Manufacturing benefits from IGBTs through enhanced automation and improved energy efficiency, contributing to lower operational costs.
The Automotive sector is also significant, driven by the shift towards electric vehicles and hybrid systems, with IGBTs playing a critical role in power conversion and management.Inverters and Uninterruptible Power Supplies (UPS) are crucial for maintaining power continuity in critical applications, further emphasizing the importance of IGBTs in modern energy solutions. Meanwhile, the Railway industry is leveraging IGBT technology for improved traction systems, which enhance energy efficiency and performance in public transportation.
Additionally, the Renewables market is experiencing growth via the integration of IGBTs in solar inverters and wind turbines, thus aiding India's push towards sustainable energy sources. This diverse Application segmentation reflects the increasing reliance on IGBT technology across sectors, driving innovation and addressing the need for efficient power solutions in India.The evolving landscape presents numerous opportunities as industries continue to adopt smart technologies and enhance energy efficiency, making IGBTs central to future advancements in India IGBT Market industry.
The India IGBT market has experienced substantial growth due to increasing demand for efficient power electronics in various sectors, including automotive, renewable energy, industrial automation, and consumer electronics. As the market continues to evolve, it is essential to analyze the competitive landscape, identifying key players and their contributions to strengthening the industry's framework. The competitive insights reveal a diverse mix of local and international manufacturers striving to capture market share through innovative technologies, strategic partnerships, and extensive distribution networks. As power electronics play a critical role in facilitating energy savings and performance enhancement, companies within this space are continuously expanding their product offerings to stay ahead of the competition, leading to a dynamic and rapidly evolving marketplace.
STMicroelectronics holds a significant position in the India IGBT market, benefiting from robust R&D capabilities and a diverse product portfolio tailored to meet the specific needs of different sectors. The company's strengths lie in its ability to deliver innovative solutions that enhance performance and energy efficiency. With a strong presence in India, STMicroelectronics leverages its technical expertise and global network to develop products that cater specifically to regional market demands. This strategic focus allows them to stay competitive and responsive to emerging trends, ensuring that they can meet increasingly stringent regulations for energy efficiency while also addressing the growing renewable energy initiatives in India.Semikron stands as a noteworthy player in the India IGBT market, renowned for its commitment to high-performance power semiconductor solutions.
The company's offerings include a wide range of IGBTs and modules designed to serve various applications in industries such as renewable energy, electric vehicles, and industrial machinery. Semikron enjoys a favorable market presence in India, bolstered by a reputation for reliability and efficiency in its products. Their strengths include extensive experience in the power electronics field and a dedicated focus on customer-oriented solutions. Additionally, Semikron has engaged in strategic partnerships and initiatives aimed at increasing its market footprint in India, ensuring that it remains competitive in this evolving landscape. Through consistent innovation and adaptation to market needs, Semikron has positioned itself as a key player in India's power electronics sector, enabling it to cater effectively to the growing demand for advanced IGBT solutions.
The India IGBT Market has witnessed significant developments in recent months, particularly in terms of technological advancements and strategic partnerships. Companies such as STMicroelectronics and Infineon Technologies have launched new products aimed at enhancing efficiency in electric vehicles and renewable energy applications. In terms of mergers and acquisitions, in October 2023, Texas Instruments announced its acquisition of a local semiconductor firm to strengthen its footprint in India’s growing electronics sector, bolstering its capabilities in IGBT technology. Over the past couple of years, the market has shown a robust growth trajectory, with a reported market valuation increase of approximately 15% by mid-2023 as India pushes for green energy initiatives, further fueled by governmental policies supporting electric mobility.
Major players, including Toshiba and Mitsubishi Electric, are ramping up production capacities to cater to both domestic and international demands. The focus on Research and Development is also intensifying, with firms like ON Semiconductor investing heavily in innovative IGBT solutions to meet the diverse needs of their customers. Overall, India's commitment to advancing its semiconductor industry is set to create more opportunities for growth within the IGBT segment in the coming years.
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2023 | 0.82Â (USD Billion) |
| MARKET SIZE 2024 | 1.5 (USD Billion) |
| MARKET SIZE 2035 | 5.0 (USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 11.567% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | STMicroelectronics, Semikron, Powerex, NXP Semiconductors, Fairchild Semiconductor, General Electric, Texas Instruments, Vishay Intertechnology, ROHM Semiconductor, Toshiba, Infineon Technologies, Microsemi Corporation, Mitsubishi Electric, Samsung, ON Semiconductor |
| SEGMENTS COVERED | Voltage, Application |
| KEY MARKET OPPORTUNITIES | Rise in renewable energy projects, Increasing electric vehicle adoption, Growth in industrial automation, Expansion of data centers, Advancements in power electronics technology |
| KEY MARKET DYNAMICS | growing demand for renewable energy, increasing adoption of electric vehicles, advancements in semiconductor technology, government support for power electronics, rising efficiency in industrial applications |
| COUNTRIES COVERED | India |
Frequently Asked Questions (FAQ) :
The India IGBT Market is expected to reach a value of 5.0 USD Billion by the year 2035.
In 2024, the India IGBT Market is valued at approximately 1.5 USD Billion.
The expected CAGR for the India IGBT Market from 2025 to 2035 is 11.567 %.
In 2024, the IGBT Market is segmented into Low Voltage at 0.6 USD Billion, Medium Voltage at 0.5 USD Billion, and High Voltage at 0.4 USD Billion.
The Low Voltage segment of the India IGBT Market is projected to be valued at 1.8 USD Billion by 2035.
Key players in the India IGBT Market include STMicroelectronics, Infineon Technologies, and NXP Semiconductors among others.
The Medium Voltage segment is expected to reach 1.5 USD Billion by 2035.
The High Voltage segment is expected to grow from 0.4 USD Billion in 2024 to 1.7 USD Billion by 2035.
Trends include advancements in power electronics and increasing demand from renewable energy applications.
The market faces challenges such as supply chain disruptions and competition from alternative technologies.
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Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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