The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including IGBT Market.
It was estimated prior to this unanticipated outbreak IGBT Market will reach CAGR of 4.5% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
IGBT Market Insights
IGBT market is likely to witness a healthy
CAGR of 4.5% during the forecast period. The global IGBT market is driven by a host of factors such as increasing demand for factory automation, power efficiency improvements, organic growth of the solar and wind energy sectors, electrification of railways, incessant shift to EVs to curb emissions and high growth in consumer appliances along with the growing demand for inverters.
Market Share Analysis
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