Intelligent Power Module Market

The intelligent power module market is expected to be highly lucrative in terms of its adoption in emerging economies such as China and India for renewable energy systems. The high power efficiency and low power consumption of intelligent power modules make them suitable to be used in smart grids, consumer electronic devices, and the commercial sector. Apart from these, various data center companies are also implementing intelligent power modules in modular data centers, as they require high stabilization of power supply for electric and electronic components. These modules are in huge demand in electric and hybrid vehicles as a mode to support renewable energy. Electric vehicles operate over a voltage of above 1200V and require low power consumption and minimum power loss. The adoption of IPMs in electric vehicles is expected to grow at the highest rate during the forecast period. However, the market is expected to reach its maturity by 2026 due to price sensitivity and availability of advanced power modules.

The intelligent power module market has been broadly segmented on the basis of IGBT power devices and MOSFET power devices. IGBT power devices are largely preferred for consumer electronics and industrial applications as they offer efficiency and fast switching capability. The major advantage of using IGBT power devices is low power loss and minimized power consumption in various devices such as inverters. IGBTs are also highly used in renewable energy systems such as solar and wind energy systems. While the application of IPMs in the automotive segment is expected to register high growth rate during the forecast period, renewable energy segment is also likely to exhibit growth in several European countries including the US, Canada, and Australia.

The companies operating in the intelligent power modules market are continuously investing in the development of power ICs to meet the growing demand from consumer electronics and renewable energy industries. Moreover, these companies focus on improving and expanding their services geographically across different regions. The major players in the market are Mitsubishi Electric Corporation, Fuji Electric Co Limited, Infineon Technologies AG, ON Semiconductor Corporation, STMicroelectronics, ROHM Co Ltd, Sanken Electric Co Ltd, Texas Instruments, and Hon Hai Precision Industry Co Ltd.