The Intelligent Power Modules Market will likely garner significant gains in the upcoming period. The key market drivers are the rising focus on adopting energy-efficient technologies and growing awareness of energy conservation. Market Research Future (MRFR) confirms that the global intelligent power modules market will escalate from USD 1.5 BN in 2022 to USD 3.33 BN by 2032, growing at 9.28% during the assessment period (2023-2032).
Intelligent power modules (IPM) witness growing use in elevators, inverters, and home appliances. Besides, augmenting demand from industries such as HVAC and wind & solar power generation drives the growth of intelligent power modules. Latest developments in industrialization offer significant market opportunities. The rise in consumer electronics, smart grids, and commercial sectors boosts the IPM market size.
Power generation companies are increasingly trying to boost their renewable capacities by establishing high-power solar photovoltaic projects and employing IPMs to achieve high power supply stabilization for electronic components. The rising pressure to integrate IPMs in consumer electronic devices for low power consumption and high-power efficiency also creates significant market demand.
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Intelligent Power Modules Market – Segmentations
This market is segmented into voltage ratings, current ratings, circuit configurations, power devices, verticals, and regions. The voltage rating segment comprises 600V, 601V-1200V, and more than 1200V. The current rating segment comprises up to 100A, 101A-600A, and more than 600A.
The circuit configuration segment comprises 6-pack, 7-pack, Phase bridge, and dual. The power device segment comprises IGBT, MOSFET, and others. The vertical segment comprises consumer electronics, automotive, industrial, aerospace, defense, and others. The region segment comprises North America, Europe, Asia-Pacific, Middle East & Africa, and rest-of-the-world.
Global Intelligent Power Modules Market – Regional Analysis
The Asia-Pacific region dominates the global intelligent power modules market. The growing demand for efficient power management and constant upgrades of aging grid infrastructure increases market revenues. Furthermore, rapid industrialization and growing demand for intelligent power modules in various utilities to ensure a regular uninterrupted power supply creates vast market demand.
The growing need for power management and the constantly growing consumer electronics sector boost the market share. Besides, the presence of notable intelligent power module manufacturers in the region drives the market growth.
Intelligent Power Modules Market – Competitive Landscape
The intelligent power module market will see several strategic partnerships alongside other strategic approaches such as expansion, collaboration, mergers & acquisitions, and service & technology launches. Mature industry players invest strategically in research & development activities and foster expansion plans.
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Active players in the intelligent power module market are ROHM Semiconductors (Japan), Infineon Technologies (Germany), STMicroelectronics NV (Switzerland), Mitsubishi Electric Corporation (Japan), ON Semiconductor (US), Texas Instruments Incorporated (US), Hon Hai Precision Industry Co., Ltd (Taiwan), Sanken Electric Co. Ltd (Japan), and Fuji Electric Co. Ltd (Japan), among others.
Industry/ Innovation/ Related News
May 17, 2022— Sensitron, a leading manufacturer of high-reliability power electronic component solutions, and EPC, a leader in eGaN-based power management, announced their collaboration to introduce an intelligent power module (IPM). The companies launched a high-power density 350 V GaN half-bridge IPM technology that is low-cost and smaller than comparable silicon solutions.
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