The increase in fuel efficiency regulations and demand for eco-friendly automotive are driving demand for electrical alternatives. The shifting trend towards renewable energy resources and their optimal utilization are the major factors that are responsible for the growth of global intelligent power modules market.
The market for global intelligent power modules market is segmented into voltage rating, current rating, circuit configuration, power device, application areas, and region.
The rising demand for Intelligent Power Modules Market in consumer electronics is majorly driving the market. The high performance and high voltage level shifting of intelligent power modules are increasing the demand for consumer electronics like air conditioners, washing machines, refrigerators, and many more. The rising trend of renewable energy resources and hybrid automotive are fuelling the growth of intelligent power modules. The emerging trends in the electronics industry and demand for GaN and SiC power semiconductors might power the market through the forecast period. However, the low adoption rate of power electronic devices and high power dissipation of small IGBT modules are hampering the market growth.
Some of the key players in the global intelligent power modules are Mitsubishi Electric Corp. (Japan), Fuji Electric Co., Ltd. (Japan), Semikron (Germany), Infineon Technologies AG (Germany), ON Semiconductor Corporation (U.S.), STMicroelectronics N.V. (Switzerland), ROHM Co., Ltd. (Japan), Sanken Electric Co., Ltd. (Japan), Fairchild Semiconductor International, Inc. (U.S.), Future Electronics Inc. (Canada) and others. The key players are constantly innovating and heavily investing in research and development activities to generate cost-effective product portfolio.
Some of the key innovators in this area are Renesas Electronics Corporation (Japan), Texas Instruments (U.S.), Digi-Key Electronics (U.S.), NXP Semiconductors (the Netherlands), Taiwan Semiconductor (Taiwan), Hon Hai Precision Industry Co., Ltd (Taiwan), Samsung Electronics (South Korea), Panasonic Corporation (Japan), Intel Corporation (U.S.) and others.
There have been recent mergers and acquisitions among the key players, where the business entities expect to strengthen their reach to their customers.
By geography, Mitsubishi Intelligent Power Modules Market is studied in North America, Europe, Asia Pacific and rest of the world. Among these regions, the market is majorly dominated by Asia Pacific at present due to a higher concentration of intelligent power module providers in countries like the Taiwan, China and South Korea. Due to this, major contribution is made by China particularly in the development of intelligent power modules. Also, the intelligent power modules in Asia Pacific is booming which is affecting the growth of the market in Asia Pacific.
On the other hand, Europe is expected to show a decent growth considering the intelligent power modules market. However, the North America region is expected to show a significant growth rate throughout the forecast period. Rising demand for energy efficient automotive and increasing awareness among renewable energy resources are driving the market in this region.
The market for global intelligent power modules market is segmented into voltage rating, current rating, circuit configuration, power device, application areas, and region. On the basis of voltage rating, the segment is further classified as, up to 600V, 601-1200V and more than 1200V. On the basis of the current rating, the segment is further classified into up to 100A, 101-600A, and more than 600A. On the basis of the circuit configuration, the segment is further classified into 6-pac, 7-pac, dual, Phase Bridge, and others. On the basis of power device the segment is further classified into IGBT (Insulate Gate Bi-Polar Transistor) and MOSFET (Metal-Oxide-Semiconductor Field-Effect Transistor). On the basis of application areas, the segment is further classified into consumer electronics, automotive, renewable energy, servo drives, UPS, and others.
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