Igct Market
IGCT Market Forecasts to 2032 – Global Analysis By Type (Asymmetric IGCT (A-IGCT), Reverse Blocking IGCT (RB-IGCT)), Power Rating, Cooling Method, Packaging Design, Application, End User and By Geography
According to Stratistics MRC, the Global IGCT Market is accounted for $15.3 billion in 2025 and is expected to reach $24.5 billion by 2032 growing at a CAGR of 7% during the forecast period. IGCTs (Integrated Gate-Commutated Thyristors) are high-power semiconductor devices used in electrical systems for switching and controlling large currents with high efficiency. They combine the characteristics of thyristors and gate turn-off devices, enabling fast and reliable operation. IGCTs are widely applied in medium- and high-voltage drives, power transmission, rail traction, and industrial converters. Known for durability and low conduction losses, they are essential in applications requiring robust performance and long service life.
According to the patents filed in China, the Republic of Korea, PCT, Japan, the U.S., the European Patent Office, the Russian Federation, India, the Czech Republic, and Germany.
Market Dynamics:
Driver:
Demand for high-power grid systems
The IGCT market is primarily driven by escalating demand for high-power grid systems to support rising electricity consumption. Industrial expansion, urbanization, and electrification of transportation are compelling utilities to invest in robust power management solutions. IGCTs are preferred for their efficiency, reliability, and ability to handle large-scale voltage conversion. Additionally, the growing emphasis on renewable integration into grids necessitates stable power control devices. Collectively, these factors underpin the rising adoption of IGCT technology across transmission and distribution infrastructure.
Restraint:
Complex installation and maintenance needs
A key restraint in the IGCT market lies in its complex installation and maintenance requirements. IGCT systems demand specialized expertise, advanced infrastructure, and precise handling, which elevate deployment costs. Many end-users, particularly in developing regions, face challenges in accessing skilled technicians and maintaining uninterrupted performance. Additionally, periodic servicing and high replacement part expenses add to lifecycle costs. This complexity often delays adoption, especially among smaller utilities and industries, limiting the broader penetration of IGCT technology in global markets.
Opportunity:
Expansion of smart grid infrastructure
The ongoing expansion of smart grid infrastructure presents a significant growth opportunity for IGCTs. As utilities modernize grids to enhance efficiency, reliability, and real-time monitoring, demand for advanced power control devices is surging. IGCTs are integral to stabilizing voltage fluctuations, integrating distributed renewable energy, and managing grid flexibility. Furthermore, government policies promoting digital and sustainable energy systems amplify deployment. This transition toward intelligent grids positions IGCTs as a critical enabler, creating substantial opportunities for manufacturers and technology providers worldwide.
Threat:
Declining investments in conventional grids
The IGCT market faces a threat from declining investments in conventional power grids as capital shifts toward decentralized energy models. Increasing preference for renewable microgrids, distributed energy resources, and battery-based storage reduces dependence on high-power grid upgrades. This shift limits the scale of traditional grid expansion projects, directly affecting IGCT adoption. Moreover, stakeholders are cautious about allocating resources to legacy infrastructure amid rapid technological evolution. Consequently, declining investments in conventional grid systems pose a long-term risk for market growth.
Covid-19 Impact:
The COVID-19 pandemic disrupted supply chains, delayed large-scale energy projects, and temporarily slowed IGCT market growth. Restrictions on industrial operations hindered equipment installation and procurement, creating demand backlogs. However, the crisis accelerated digitalization and remote monitoring in energy systems, highlighting the relevance of smart grids and advanced power devices. Post-pandemic recovery brought renewed investment in renewable integration and grid modernization. Overall, while short-term disruptions were significant, the pandemic ultimately reinforced IGCT’s strategic role in resilient and future-ready power infrastructure.
The asymmetric IGCT (A-IGCT) segment is expected to be the largest during the forecast period
The asymmetric IGCT (A-IGCT) segment is expected to account for the largest market share during the forecast period, propelled by its widespread deployment in medium and high-voltage applications. A-IGCTs are widely used in industrial drives, traction systems, and large converters due to their superior switching efficiency. Their ability to handle high power levels with reduced losses makes them indispensable in heavy industries. Furthermore, growing electrification across manufacturing hubs strengthens their adoption. These advantages position A-IGCT as the dominant segment within the IGCT market.
The liquid-cooled IGCT segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the liquid-cooled IGCT segment is predicted to witness the highest growth rate, influenced by rising demand for efficient thermal management in high-power applications. Liquid cooling enhances device performance, durability, and compactness, making it ideal for power-dense systems. Expanding use in HVDC transmission, renewable integration, and industrial automation further accelerates demand. Additionally, advancements in cooling technology and material science reduce system complexity. These developments are set to make liquid-cooled IGCTs the fastest-expanding category within the market.
Region with largest share:
During the forecast period, the Asia Pacific region is expected to hold the largest market share, fueled by rapid industrialization, urbanization, and massive investments in energy infrastructure. Countries like China, India, and Japan are expanding transmission networks to meet surging electricity demand. Additionally, renewable power integration and government-backed modernization projects enhance IGCT adoption. Robust manufacturing hubs also provide cost advantages in production and deployment. Collectively, these dynamics position Asia Pacific as the global leader in IGCT market share.
Region with highest CAGR:
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR, driven by aggressive investments in smart grid modernization and renewable integration. The U.S. and Canada are prioritizing advanced energy technologies to reduce carbon emissions and ensure grid resilience. Rising demand for efficient high-power converters in industrial and utility applications boosts adoption. Moreover, government incentives and R&D initiatives in clean energy technologies amplify regional growth. These factors collectively make North America the fastest-growing IGCT market.
Key players in the market
Some of the key players in IGCT Market include Hitachi Ltd., ABB Ltd., Mitsubishi Electric Corporation, Siemens AG, GE Vernova Inc., Fuji Electric Co., Ltd., CRRC Times Electric Co., Ltd., Littelfuse, Inc. (incl. IXYS), Alstom S.A., Nidec Corporation, Rockwell Automation, Inc., WEG S.A., Schneider Electric SE, Bharat Heavy Electricals Limited (BHEL), CG Power and Industrial Solutions Ltd., LS ELECTRIC Co., Ltd., Hyosung Heavy Industries Corporation, and Inovance Technology Co., Ltd.
Key Developments:
In May 2025, ABB Ltd. launched its next-generation ACS6080 medium-voltage drive, which utilizes its own branded IGCTs (Integrated Gate-Commutated Thyristors) to achieve a 50% reduction in switching losses compared to previous models, targeting the marine and mining industries.
In April 2025, Hitachi Energy Ltd. (a subsidiary of Hitachi Ltd.) announced a major expansion of its power semiconductor production facility in Switzerland, specifically to increase the manufacturing capacity of high-power IGCTs for HVDC (High-Voltage Direct Current) transmission projects.
In March 2025, Siemens AG secured a contract to supply its SIMOVAC® circuit-breakers, which utilize IGCT technology, for a new fleet of high-speed electric trainsets in Europe, highlighting the technology's role in rail traction.
Types Covered:
• Asymmetric IGCT (A-IGCT)
• Reverse Blocking IGCT (RB-IGCT)
• Reverse Conducting IGCT (RC-IGCT)
Power Ratings Covered:
• Low Power IGCT (Up to 1 kV)
• Medium Power IGCT (1–10 kV)
• High Power IGCT (Above 10 kV)
Cooling Methods Covered:
• Air-Cooled IGCT
• Liquid-Cooled IGCT
Packaging Designs Covered:
• Press-Pack IGCT
• Module-Based IGCT
Applications Covered:
• Motor Drives
• Traction Systems
• Renewable Energy
• Power Grids & HVDC Transmission
• Industrial Power Conversion
• Marine Propulsion Systems
End Users Covered:
• Utilities & Power Generation
• Industrial Manufacturing
• Transportation
• Oil & Gas
• Mining & Metals
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global IGCT Market, By Type
5.1 Introduction
5.2 Asymmetric IGCT (A-IGCT)
5.3 Reverse Blocking IGCT (RB-IGCT)
5.4 Reverse Conducting IGCT (RC-IGCT)
6 Global IGCT Market, By Power Rating
6.1 Introduction
6.2 Low Power IGCT (Up to 1 kV)
6.3 Medium Power IGCT (1–10 kV)
6.4 High Power IGCT (Above 10 kV)
7 Global IGCT Market, By Cooling Method
7.1 Introduction
7.2 Air-Cooled IGCT
7.3 Liquid-Cooled IGCT
8 Global IGCT Market, By Packaging Design
8.1 Introduction
8.2 Press-Pack IGCT
8.3 Module-Based IGCT
9 Global IGCT Market, By Application
9.1 Introduction
9.2 Motor Drives
9.3 Traction Systems
9.4 Renewable Energy
9.5 Power Grids & HVDC Transmission
9.6 Industrial Power Conversion
9.7 Marine Propulsion Systems
10 Global IGCT Market, By End User
10.1 Introduction
10.2 Utilities & Power Generation
10.3 Industrial Manufacturing
10.4 Transportation
10.5 Oil & Gas
10.6 Mining & Metals
11 Global IGCT Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Hitachi Ltd.
13.2 ABB Ltd.
13.3 Mitsubishi Electric Corporation
13.4 Siemens AG
13.5 GE Vernova Inc.
13.6 Fuji Electric Co., Ltd.
13.7 CRRC Times Electric Co., Ltd.
13.8 Littelfuse, Inc. (incl. IXYS)
13.9 Alstom S.A.
13.10 Nidec Corporation
13.11 Rockwell Automation, Inc.
13.12 WEG S.A.
13.13 Schneider Electric SE
13.14 Bharat Heavy Electricals Limited (BHEL)
13.15 CG Power and Industrial Solutions Ltd.
13.16 LS ELECTRIC Co., Ltd.
13.17 Hyosung Heavy Industries Corporation
13.18 Inovance Technology Co., Ltd.
List of Tables
1 Global IGCT Market Outlook, By Region (2024-2032) ($MN)
2 Global IGCT Market Outlook, By Type (2024-2032) ($MN)
3 Global IGCT Market Outlook, By Asymmetric IGCT (A-IGCT) (2024-2032) ($MN)
4 Global IGCT Market Outlook, By Reverse Blocking IGCT (RB-IGCT) (2024-2032) ($MN)
5 Global IGCT Market Outlook, By Reverse Conducting IGCT (RC-IGCT) (2024-2032) ($MN)
6 Global IGCT Market Outlook, By Power Rating (2024-2032) ($MN)
7 Global IGCT Market Outlook, By Low Power IGCT (Up to 1 kV) (2024-2032) ($MN)
8 Global IGCT Market Outlook, By Medium Power IGCT (1–10 kV) (2024-2032) ($MN)
9 Global IGCT Market Outlook, By High Power IGCT (Above 10 kV) (2024-2032) ($MN)
10 Global IGCT Market Outlook, By Cooling Method (2024-2032) ($MN)
11 Global IGCT Market Outlook, By Air-Cooled IGCT (2024-2032) ($MN)
12 Global IGCT Market Outlook, By Liquid-Cooled IGCT (2024-2032) ($MN)
13 Global IGCT Market Outlook, By Packaging Design (2024-2032) ($MN)
14 Global IGCT Market Outlook, By Press-Pack IGCT (2024-2032) ($MN)
15 Global IGCT Market Outlook, By Module-Based IGCT (2024-2032) ($MN)
16 Global IGCT Market Outlook, By Application (2024-2032) ($MN)
17 Global IGCT Market Outlook, By Motor Drives (2024-2032) ($MN)
18 Global IGCT Market Outlook, By Traction Systems (2024-2032) ($MN)
19 Global IGCT Market Outlook, By Renewable Energy (2024-2032) ($MN)
20 Global IGCT Market Outlook, By Power Grids & HVDC Transmission (2024-2032) ($MN)
21 Global IGCT Market Outlook, By Industrial Power Conversion (2024-2032) ($MN)
22 Global IGCT Market Outlook, By Marine Propulsion Systems (2024-2032) ($MN)
23 Global IGCT Market Outlook, By End User (2024-2032) ($MN)
24 Global IGCT Market Outlook, By Utilities & Power Generation (2024-2032) ($MN)
25 Global IGCT Market Outlook, By Industrial Manufacturing (2024-2032) ($MN)
26 Global IGCT Market Outlook, By Transportation (2024-2032) ($MN)
27 Global IGCT Market Outlook, By Oil & Gas (2024-2032) ($MN)
28 Global IGCT Market Outlook, By Mining & Metals (2024-2032) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
Frequently Asked Questions
In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.
Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.
All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929
We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.
We have 3 different licensing options available in electronic format.
- Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
- 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
- Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.
All our reports are typically be emailed to you as an attachment.
To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.
We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.
Request Customization
We offer complimentary customization of up to 15% with every purchase. To share your customization requirements, feel free to email us at info@strategymrc.com or call us on +1-301-202-5929. .
Please Note: Customization within the 15% threshold is entirely free of charge. If your request exceeds this limit, we will conduct a feasibility assessment. Following that, a detailed quote and timeline will be provided.
WHY CHOOSE US ?
Assured Quality
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Free Customization
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.
