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Chinese IGBT market forecast to garner RMB20 billion by 2020

LONDON, April 24, 2017 /PRNewswire/ -- An IGBT is a complex device with the Darlington configuration. Using GTR as the dominant component and MOSFET as the drive component, IGBTcombines the merits of BJT and MOSFET, such as low drive power, low saturation voltage and the like.

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With the development of IGBT chip technology, the maximum operating junction temperature and power density of chips keep increasing. In future, the IGBT module technology will be improved in two aspects -- chip backside welding & fixing and front electrode interconnection:

1) the technology without welding, wire bonding or liner/substrate packaging;

2) internally integrated temperature sensors, current sensors, driving circuits and other functional components.

Market Competition Pattern

·         China's IGBT industry has developed rapidly under the guide of national policies and the market, and has shaped a complete industrial chain with IDM and OEM models.

·         Chinese IGBT supply market is mainly controlled by foreign companies, for example, all of the top five suppliers were foreign vendors who enjoyed the combined market share of 51.9% in 2015.

·         The advantages of European and American companies (such as Infineon, Semikron, Fairchild, etc.) are mainly reflected in power, electronics and communications.

·         Japanese brands (such as Mitsubishi, FUJI, Toshiba, etc.) target home appliances.

·         China seized 1/3 of the global IGBT market share in 2015 and will master nearly 1/2 by 2020, with the AAGR of about 19%.

Subdivision of Applications:
The current saturated Chinese home appliance market will see limited incremental space in the next five years. Among white household electrical appliances, inverter refrigerators with low permeability will generate the fastest growing demand for IGBT in the next five years.

Affected by the government's development plan, China's wind power and PV industries may follow different development paths in the next five years.

Here are some predictions:

·         By 2020, China's PV installed capacity will cumulate to above 160GW, which means the IGBT demand will value RMB1 billion or so.

·         Given the serious wind energy curtailment, China's total wind power installed capacity is planned to be 210GW by 2020, which indicates that China's additional wind power installed capacity will witness sharp drop in the next five years, so that the demand for IGBTs will shrink.

·         The major cities in China plan to invest RMB3.18 trillion in rail transit in 2010-2021. As for high-speed rail, China will own over 4,300 CRH trains by 2020, which will need 1.2 million IGBTs, four times that in 2015.

By 2020, China's electric vehicle (including EV, PHEV, HEV, electric bus / truck) sales volume is expected to exceed 3 million, which will stimulate the IGBT demand to go beyond RMB6 billion.

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