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Global intelligent power module (IPM) market is anticipated to witness an exponential growth in the forecast period. Factors such as increasing demand for consumer goods and energy in developing economies, growing saturation of high voltage direct current, growing demand for hybrid and electric vehicles, and technological advancements are likely to drive the market in the forthcoming period. On the other hand, grid faults in the power semiconductor devices and decrease in the size of the IGBT modules are anticipated to hinder market growth in the future.
The IPM market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. Intelligent power modules (IPM) market is segmented by voltage rating, current rating, circuit configuration, power device, application, vertical and geography. The market is segmented by voltage rating as 1200V, Up to 600V and above 1200V.
Based on current rating, the market is segmented as 101A–600A, Up to 100A and above 600A. The key applications are segmented in the market include Renewable Energy, Consumer Electronics, Transportation, and Servo Drives. The market is segmented based on circuit configuration as 7-PAC, 6-PAC and Others.
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The market is segmented based on power device as MOSFET-Based IPM and IGBT-Based IPM. The IGBT-based IPM segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come.
The intelligent power modules market is segmented based on vertical as Industrial (UPS, Servo Drive, Transportation, Renewable Energy, and Others), and Consumer (Washing Machine, Refrigerator, Air Conditioner, and Others). The consumer segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factors that could be attributed to the growth of the market include increasing demand in the consumer electronics segment for increased energy efficiency.
APAC is one of the prominent regions in the market. It is likely to maintain its dominance in the forecast period owing to factors such as growing demand for consumer goods, and improved manufacturing activities in the region. In addition, APAC region has developed as a robust manufacturing center with leading manufacturers of consumer goods and requirements for energy in emerging economies such as India and China.
Key players operating in the intelligent power modules (IPM) market comprise Mitsubishi Electric Corp, Fuji Electric Co. Ltd, Infineon Technologies AG, Semikron, Fairchild Semiconductors, ROHM Co., Ltd, ST Microelectronics N.V., Future Electronics Inc., Vincotech GmbH, ON Semiconductor Corporation and Powerex Inc. The leading companies are involved in partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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