Intelligent Power Modules Market Analysis
The global intelligent power modules (IPM) market is predicted to touch USD 3,102.5 million at a 9.28% CAGR between 2023- 2032, states the recent Market Research Future (MRFR) analysis. Intelligent power module, simply put, is an integrated high performance module that has a drive circuit & control unit to offer better performance from an IGBT chip. It has wide applications in renewable energy, automotive, consumer electronics, and others.
Various factors are propelling the global intelligent power modules market share. As per the current MRFR report, such factors include improvement of power infrastructure, increasing focus to use renewable power sources, the growing potential for the growth of electric cars, increasing use in the electronics industry, growing adoption of renewable energy resources and hybrid automotive, high voltage level shifting, and demand for electronic gadgets, growing need for consumer goods and enhanced energy needs, and booming semiconductors market like GAN and SIC.
On the contrary, the ongoing COVID-19 impact, low adoption of power electronic devices, and high power dissipation of small insulated gate bipolar transistor modules are factors that may limit the global intelligent power modules market growth over the forecast period.
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Intelligent Power Modules Market Competitive Landscape
Key players profiled in the global intelligent power modules market report include Sanken Electric Co. Ltd (Japan), Hon Hai Precision Industry Co., Ltd (Taiwan), Fuji Electric Co. Ltd (Japan), ON Semiconductor (US), Mitsubishi Electric Corporation (Japan), Texas Instruments Incorporated (US), Infineon Technologies (Germany), ROHM Semiconductors (Japan), and STMicroelectronics NV (Switzerland).
Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global intelligent power modules market based on voltage rating, current rating, circuit configuration, power device, and application.
By voltage rating, the global intelligent power modules market is segmented into more than 1200V, 601-1200V, and up to 600V. Of these, the up to 600V segment will lead the market over the forecast period.
By current rating, the global intelligent power modules market is segmented into more than 600A, 101-600A, and up to 100A. Of these, the up to the 100A segment will dominate the market over the forecast period.
By circuit configuration, the global intelligent power modules market is segmented into dual, phase bridge, 7-pack, and 6-pack. Of these, the 6-pack segment will have a major share in the market over the forecast period.
By power device, the global intelligent power modules market is segmented into MOSFET and IGBT. Of these, IGBT segment will spearhead the market over the forecast period.
By application, the global intelligent power modules market is segmented into renewable energy, automotive, consumer electronics, and others. Of these, the consumer electronics will command the largest share in the market over the forecast period.
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Intelligent Power Modules Market Regional Analysis
Based on the region, the global intelligent power modules market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, and the Rest of the World (RoW). Of these, the APAC region will lead the market over the forecast period. Growing energy needs in China and India, burgeoning demand for consumer goods, increase manufacturing activities, favorable initiatives and cost advantages to boost domestic manufacturing, and the presence of electronic component manufacturing suppliers and industries are adding to the global intelligent power modules market growth in the region.
The global intelligent power modules market in North America will have favorable growth over the forecast period. Demand for renewable energy resources and high voltage transmission, and the presence of top tier-1 manufacturers are adding to the global intelligent power modules market growth in the region.
The global intelligent power modules market in Europe is predicted to have admirable growth during the forecast period. Burgeoning demand for hybrid and electric vehicles is adding to the global intelligent power modules market growth in the region.
The global intelligent power modules market in the RoW is predicted to have sound growth over the forecast period.