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The Intelligent Power Module Market is anticipated to reach at US$ 3.6 Bn by 2028 and is anticipated to expand at a CAGR of 7.48 % During the Forecast Period.
The global Intelligent Power Module market is growing at a steady pace and is estimated to gain traction in the coming years. Some of the major factors fuelling the growth of the global market include rising popularity of renewable energy sources, adoption of power semiconductor devices, R&D initiatives, and rising awareness regarding the harmful effects of greenhouse gases.
Inclination towards Power Efficient Energy Sources is Fuelling the Market Growth
Since the last few years, the public and private entities are taking the significant initiative to promote energy efficiency owing to the rising concerns regarding depletion of fossil fuels and global warming. The intelligent power modules are majorly being used in power supply, railway, consumer electronics, electric vehicles, and renewable power generation applications. The intelligent power module market is set to gain traction as manufacturers are highly focused on developing compact, high-performing, energy-efficient, and cost-effective modules to cater the demand from large consumer base.
In Terms of Voltage Rating, Up To 600 V Segment Anticipated to be the Dominant One in Global Intelligent Power Module Market
On the basis of the voltage rating, the intelligent power module with a voltage rating of below 600 Volts is projected to dominate the global market. This category of the intelligent power module is employed with almost every consumer electronics product. Also, these products have applications in the industrial sector such as transportation, renewable energy, and servo drives.
Up to 100 A Segments Dominated the Global Market by Holding Significant Share
Based on the current rating, the global market is dominated by intelligent power modules with a current rating of below 100 amperes. These products have applications in low power industrial devices and consumer electronics sectors. The growing demand for consumer electronics products is expected to favour the growth of the segment. The segment is estimated to show the fastest growth during the forecast timespan.
On the basis of Industry Vertical, the Consumer Segment Occupied for Higher Share in Global Intelligent Power Module Market
On the basis of industry vertical, the consumer segment is projected to lead the global market. The intelligent power module helps the consumer electronics products in reducing energy consumption and provides cost efficiency which is expected to boost the demand for these products across the consumer electronics industry.
Asia Pacific held the Largest Share Holder in Global Intelligent Power Module Market in 2019
By region, Asia Pacific is anticipated to be the largest shareholder in the global market throughout the forecast timespan. The segment is expected to dominate the global intelligent power module market during the forecast period. The rising automotive and consumer electronics industry is supporting the growth of the market in Asia Pacific. Moreover, the increasing demand for energy sources from emerging economies such as China and India is expected to propel the growth of the regional market. Manufacturers are taking initiative to increase the domestic manufacturing capability which is impacting the regional growth in a positive manner. On the other hand, Europe and North America are projected to hold significant shares in the global market. The growth of these regions is propelled by the presence of prominent players and the capability of large manufacturing facilities.
The companies operating in global intelligent power module market have adopted the strategy to launch highly innovative products with advanced features in order to gain a competitive edge
For instance, Omega Semiconductor Limited and Alpha co-developed a compact intelligent power module branded as AIM702H50B. The product is designed for low power motor devices like fan motors integrated with home appliances such as refrigerators and ACs.
In December 2019, Mitsubishi Electric Corporation announced to launch SLIMDIPTM-W, a new addition into their intelligent power module product line. This is designed to enable home appliances to reduce consumption and motor noise.
Some of the major players operating in global Intelligent Power Module market include B Microchip Technology Inc., Mitsubishi Electric Corp., Sanken Electric Co., Ltd., Fuji Electric Co., Ltd., ROHM Co., Ltd., SEMIKRON International GmbH, STMicroelectronics N.V., ON Semiconductor Corporation, and Infineon Technologies AG.
Global Intelligent Power Module Market by Voltage Rating
- Below 100 V
- 101 V to 1200 V
- More Than 200 V
Global Intelligent Power Module Market by Current Rating
- Below 100 A
- 101 A to 600 A
- More Than 600 A
Global Intelligent Power Module Market by Circuit Configuration
Global Intelligent Power Module Market by Power Devices
- Renewable Energy
- Servo Drives
- Air Conditioners
- Washing Machine
Global Intelligent Power Module Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America