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Insulated Gate Bipolar Transistor Market Forecast to Reach $11 Billion by 2025
Increased Production of Electric Vehicles Due to Stringent Emission Norms and Improved Charging Infrastructure Driving the Growth of Insulated Gate Bipolar Transistor Market
BriefingWire.com, 1/18/2021 -
The Insulated Gate Bipolar Transistor Market is forecast to reach $11 billion by 2025, growing at a CAGR of 8% in the period 2019-2025. IGBT has been witnessing significant growth in automotive sector, owing to adoption of electric vehicle. The reduction in the cost of electric vehicle due to technological advancement and the reduced battery price has increased the demand for electric vehicle since 2016. The production of electric vehicle is expected to increase by 28% during 2018-2022, that will account for the sale of 14.8 million electric vehicle by 2020. ....

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