Market Trends of Americas Power Transistor Industry
Automotive is Expected to Hold Significant Market Share
- In recent years, the automotive industry has imposed stringent reliability constraints on power electronic systems, focusing on cost-effective solutions. Beyond those typically associated with vehicle electrical and electronic systems, the high voltage and high current required in hybrid electric vehicles (HEVs) and electric vehicles (EVs) present technical challenges for power conversion. In accordance with this, insulated-gate bipolar transistors (IGBTs) have assumed a crucial role in ensuring the dependability of the (H)EV powertrain due to their high internal electric fields and susceptibility to significant junction temperature swings.
- IGBT modules are required to convert electricity from one form to another, allowing for the convenient and secure use of the energy by many items used by people daily, including electric cars. The IGBT power module is regarded as the "heart" of the electrified drive train in electric vehicles.
- Moreover, with the EV market's growth in the regions, many vendors are increasing their R&D expenditures and concentrating on supporting the H/EV market by developing, integrating, and manufacturing advanced solutions for traction drive and control applications. High switching frequency and short-circuit rating products are continuously being developed by businesses to support efficient and durable automotive designs.
- For instance, Fuji Electric has created a thin direct liquid cooling IGBT module for the powertrains of electric and hybrid vehicles using its extensive R&D capabilities. The IGBT has a current and temperature detection terminal, which enables dependable protection during short-circuit and overheating situations.
- Further, to improve the power electronics at the core of EVs, Renesas Electronics unveiled a new generation of small, high-voltage IGBTs in August 2022. These devices have current ratings of up to 300 A and withstand voltages of up to 1,200 V. Automakers will be able to conserve battery power and increase the range of EVs by saving energy in the company's AE5 series of IGBTs.
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North America is Expected to Hold Significant Market Share
- The proliferating consumer electronics industry in the region is one of the primary factors driving the market's growth. For instance, according to the Consumer Technology Association (CTA), US technology retail revenues are expected to reach USD 485 billion in 2023. Though it is slightly down from the record-breaking USD 512 billion in 2021, the revenues are expected to remain above pre-pandemic levels, as per the organization.
- The automotive industry in the United States is a crucial component of economic growth and has historically contributed 3 - 3.5% to the overall Gross Domestic Product (GDP), according to the Center for Automotive Research. The industry also contributes to a significant portion of the region's total demand for semiconductor components.
- Moreover, as per the Electric Vehicle Sales and the Charging Infrastructure Required Through 2030 report released in 2022 by the Edison Electric Institute (EEI), the number of EVs on US roads is projected to reach 26.4 million in 2030, up from the projected 18.7 million as projected in the 2018 report. Power Transistors, including both MOSFETs and IGBTs, find widespread use in EVs, including in the electrified drive train and charging systems.
- Many regulations have been implemented in recent years to promote the use of electric vehicles in the country. For instance, New York state lawmakers recently passed a bill that essentially mandates that all new passenger cars sold in the state run on electric power by 2035. Moreover, the United States has set a target to ensure half of the vehicles sold in the country are electric by 2030.
- Further, the rapid growth in the renewable energy sector in Canada is also expected to support market growth. According to the Canadian Renewable Energy Association (CanREA), Canada's wind and solar energy sectors grew significantly in 2022. As per the organization, solar is growing remarkably quickly, with more than one-quarter of all the installed capacity in Canada being added in 2022 alone.
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