Increasing adoption and research and development of electric and hybrid vehicles and upgradation of power infrastructure are key factors driving the market growth
According to the most recent analysis by Emergen Research, the global market for intelligent power module is anticipated to reach a market size of USD 3.78 billion at a CAGR of 11.7% during the forecast period. This steady increase in revenue might be linked to the growing use and global research and development of electric and hybrid automobiles. Another important driver in the market’s expansion is the focus of the world’s main economies on modernising their electricity infrastructure. Additionally, growing government investment in tidal, wind, and solar projects fuels industry expansion. Electronic gadgets and equipment are necessary for the creation of several new industries as well as the extension of those that already exist. This further strengthens to the development of the market.
The use of intelligent power modules is being sparked by a number of global government efforts that aim to lower carbon dioxide emissions and preserve the environment. These modules offer a high level of operating performance and efficiency. Utilizing more efficient equipment, such as hybrid plug-in electric automobiles, is essential for smart consumption.
The automotive industry is undergoing unheard-of transformations on a worldwide scale. The sector needs to improve its environmental effect immediately. It is widely believed that the electrification of vehicle powertrains—which might range from the use of start/stop technology to fully battery electric vehicles—will enable the global automotive industry to get closer to the objective of real sustainability. The foundation of the low-pollution automobile industry is electric vehicles, which may greatly lower their carbon dioxide content and partially offset the greenhouse effect. A multinational organisation called SAE International has developed a number of vehicle electrification standards that can be used to create effective and safe electric automobiles. To achieve various safety requirements for storage batteries, communication networks, and power generation, isolation is essential.
For the IPM market to expand quickly, new trends and technologies must be incorporated. Although new technology and their advantages appeal to engineers, designing a control structure is difficult. As a result, the IPM market adopts new technologies at a relatively moderate rate, which would impede the technology’s development. The companies in the intelligent power module market also put a lot of effort into combining many functions onto a single chip, which leads to complicated designs. Complex device design and integration need specialised skill sets, reliable methodologies, and expensive toolkits, which raises the entire cost of the devices.
The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period.
Leading Players Profiled in the Report:
· Mitsubishi Electric Corporation,
· STMicroelectronics NV,
· ROHM Semiconductors,
· Sanken Electric Co. Ltd,
· Texas Instruments Incorporated,
· ON Semiconductor,
· Fuji Electric Co. Ltd,
· Hon Hai Precision Industry Co., Ltd,
· Infineon Technologies,
· Central Semiconductor
One of the report’s central components is the broad Intelligent Power Module market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders.
The regional governments are also implementing a number of policies to support initiatives involving the usage of renewable energy sources. Growing regional awareness of sustainable development is another element fueling the expansion of the business in the area.
In 2021, the market for the up to 600 V segment had the biggest market share. IPMs with voltage ratings up to 600 V have a number of advantages, including a quicker time to market, higher dependability, and less expensive and smaller systems. IGBTs and high-voltage MOSFETs that are reliable and efficient are used in IPMs with voltage ratings up to 600 V that are designed specifically for variable frequency drives. IPMs like this are frequently seen in consumer devices. For AC motor drives, they offer a small design and good performance. Industrial applications include driving fans, pumps, and compressors use IPMs with 600 V IGBTs. All these attributes are anticipated to increase demand for the aforementioned segment of intelligent power modules.
For this report, Emergen Research has segmented the global intelligent power module market based on voltage rating, current rating, power devices, application and region.
· Voltage Rating Outlook (Revenue, USD Billion; 2021–2028)
o Up To 600V
o 601 V – 1200 V
o Above 1200V
· Current Rating Outlook (Revenue, USD Billion; 2021–2028)
o Up To 100 A
o 101 A – 600 A
o Above 600 A
· Power Devices Outlook (Revenue, USD Billion; 2021–2028)
· Application Outlook (Revenue, USD Billion; 2021–2028)
o Consumer Electronics
o Aerospace & Defense