The global intelligent power module market size is anticipated to grow from USD 1.8 billion in 2022 to USD 3.0 billion by 2027, at a CAGR of 10.7% from 2022 to 2027. This growth is driven by the increasing demand for efficient and reliable power management solutions across various industries, including consumer electronics, industrial automation, renewable energy, and electric vehicles.
Market Segmentation
The market is segmented based on voltage rating, current rating, circuit configuration, power devices, vertical, and region.
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Voltage Rating
The market is categorized into three voltage rating segments: up
to 600 V, 601-1,200 V, and above 1,200 V. The low voltage segment (up to
600 V) is expected to be the largest due to its widespread adoption in
applications such as motor drives, consumer electronics, and renewable
energy systems.
Current Rating
The market is also segmented based on current rating, which includes various levels of current handling capacities.
Circuit Configuration
The market includes different circuit configurations, such as
6-pack and 7-pack, which determine the number of power devices and the
overall module design.
Power Devices
The market is further segmented based on power devices, including
insulated gate bipolar transistors (IGBTs) and metal-oxide-semiconductor
field-effect transistors (MOSFETs). IGBTs are widely used in high-power
applications, while MOSFETs are used in low-power applications.
Vertical
The market is categorized based on verticals, including consumer
electronics, industrial automation, renewable energy, and electric
vehicles. The demand for intelligent power modules is driven by the need
for efficient power management in these industries.
Region
The market is segmented by region, including North America,
Europe, Asia Pacific, and the Rest of the World (RoW). Asia Pacific is
expected to grow at the highest CAGR due to the increasing adoption of
electric vehicles and renewable energy systems in the region.
Market Trends and Drivers
The market is driven by several factors, including the increasing
adoption of electric vehicles, the need for energy efficiency in various
industries, and the growing demand for renewable energy sources.
Additionally, the integration of advanced features such as overcurrent
protection, short circuit protection, and temperature monitoring in
intelligent power modules is further boosting their adoption.
Competitive Landscape
The market is highly competitive, with key players such as
Mitsubishi Electric Corp., Infineon Technologies AG, Fuji Electric Co.
Ltd, ROHM Co. Ltd, and ON Semiconductor Corporation. These companies are
focusing on product innovations, strategic partnerships, and geographic
expansions to maintain their market positions.
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