IGBT is the "CPU" of power electronic devices and the cornerstone of the development of new energy. IGBT combines the advantages of MOSFET and BJT power semiconductor components (low driving power, fast switching speed, simple driving circuit, large current, low loss, etc.), so it is widely used in industrial control, new energy vehicles, photovoltaics Wind power, variable frequency white electricity, smart grid, rail transit and other fields. IGBT is the cornerstone of the development of the new energy industry and an essential core component for realizing the "dual carbon" strategy.
my country's "dual carbon" policy continues to be implemented, and the surge in demand for new energy has pushed the IGBT industry to new heights. Relying on the dual-carbon policy, my country's new energy vehicle penetration rate has rapidly increased and clean energy has developed rapidly. Domestic IGBT companies continue to benefit, which is the largest source of market growth for IGBT. Data shows that in 2021, my country's IGBT production will be 25.8 million units, a year-on-year increase of 27.7%, and the demand will be 132 million units, a year-on-year increase of 20%. Although the growth rate of localized output is higher than the growth rate of demand, the localization rate is still less than 20 %, there is a huge gap between supply and demand for domestically produced products. The incremental demand for new energy brought by the dual-carbon strategy, combined with the demand for localized replacement in the existing market, will bring huge growth space to the local IGBT market.
The slow iteration of IGBT technology and the impact of the epidemic have helped accelerate the localization of IGBT. First, due to the strict requirements of IGBT on safety and stability and the high replacement cost, the IGBT replacement frequency and product life cycle are long, which is conducive to the technological catch-up of local enterprises; secondly, the COVID-19 pandemic that began in 2020 has disrupted the supply chain of overseas IGBT manufacturers to China, further exacerbating the severity of the domestic IGBT demand gap. Domestic IGBT downstream customers have turned to local suppliers, forcing local IGBT downstream customers to accelerate the product certification of localized IGBTs. The willingness for domestic substitution continues to increase, helping to accelerate the localization process.
IGBT is one of the important core components in the new energy industry. In recent years, with the gradual promotion and implementation of my country's dual-carbon policy and the great development of the new energy industry, local IGBT companies will continue to benefit from the east wind of the great development of new energy. The spring of IGBT growth is here. On the one hand, my country is the world's largest IGBT demand market, and the industry has great development prospects. However, my country's IGBT self-sufficiency rate is less than 20%, and there is still a lot of room for improvement in domestic substitution; on the other hand, the performance of local IGBT products has gradually matured. , and the performance of some products can benchmark against the products of major overseas IGBT manufacturers, accelerating the market penetration of localized IGBT products and gradually entering the high-end market.
