NEWARK, Del, July 07, 2023 (GLOBE NEWSWIRE) -- The Intelligent Power Module Market is predicted to be worth US$ 1,603.7 Million in 2023 and is projected to rise to US$ 4,907.3 million by 2033. Initially, demand for intelligent power modules experienced a market CAGR of 9.7% between 2018 and 2022. is predicted to be worth US$ 1,603.7 million Million in 2023 and projected to rise to US$ 4,907.3 million by 2033. Initially, Demand demand for intelligent power modules experienced was initially expanding at a market CAGR of 9.7% between 2018 and 2022.
Demand Drivers and Applications:
Due to high power efficiency and low power consumption, the demand for intelligent power modules is well-suited for consumer electronics, smart grids, and other systems. The great advantage of SiC is its enormously improved efficiency. In addition to being quickly adopted in energy-focused industries, like electric cars, SiC also improves the efficiency of electronics across industries and helps the world's carbon footprint. This impacts the global growth of the market.
New trends and technologies much be incorporated for the intelligent power module sector to expand quickly. Although new technology and its advantages appeal to engineers, creating a control structure is difficult. As a result, the IPM market adopts new technologies at a relatively moderate rate, likely to impede the technology's development.
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Key Takeaways from Intelligent Power Module Market Research Study :
- By 2033, the Intelligent Power Module Market in the United Kingdom is likely to expand, with a CAGR of 23.8%.
- In 2022, the United States accounted for 19.2% of the intelligent power module sector.
- The intelligent power module market was significantly expanding, with a size of US$ 1,455.3 million in 2022.
- By 2033, China's intelligent power module market will likely expand, with a CAGR of 20.8%.
- In 2022, Germany expanded significantly in the intelligent power module business, with an expected share of 7.6%.
- By 2033, India is projected to expand significantly in the intelligent power module market, with a share of 25.2%.
- In 2022, Australia developed significantly in the intelligent power module business, with an expected share of 3.1%.
- Japan's intelligent power module industry share developed significantly, with a 5.4% share in 2022.
- In 2022, the IGBT segment led the market with a significant share and is likely to hold a top spot in the market in terms of type.
- Based on the application, the consumer electronics market dominated the industry in 2022.
Top 10 Players in Intelligent Power Modules and their winning Strategies:
Leading companies are releasing updated versions of intelligent power modules; these modules are anticipated to be employed in several applications. Manufacturers are concentrating on crucial strategies to update the system to get a competitive advantage in the market.
- Mitsubishi Electric Corp.
- Infineon Technologies AG
- Semikron Elektronik GmbH & Co. KG
- Fuji Electric Co. Ltd
- Future Electronics Inc.
- Vincotech GmbH
- ROHM Co. Ltd
- STMicroelectronics NV
- Powerex Inc
- Fairchild Semiconductors (ON Semiconductor)
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Recent Developments in Intelligent Power Module Industry:
Magnachip introduced a new MOSFET 40V version in April 2022 that is vital to vehicle safety and has AEC-Q101 certification. It has many applications, including BLDC applications for electric oil pumps, power steering, engine cooling fans, and battery cooling fans.
Infineon Technologies significantly increased its manufacturing capacity for wide bandgap (SiC and GaN) semiconductors in February 2022, bolstering its position as the industry leader in power semiconductors.
The business is spending over US$ 2 billion to construct a third module at its Malaysian facility in Kulim.
If completely outfitted, the new module brings in an additional US$ 2 billion in annual income from silicon carbide and gallium nitride items.
Mitsubishi Electric Corp. presented its newest ultra-compact intelligent power module (IPM), branded as DIPIPMTM Ver.7, in August 2019. This module's characteristics include less radiation noise, low power consumption, and more flexible heat dissipation.
Intelligent Power Module Market Segmentation:
By Type:
- IGBT
- MOSFET
By Application:
- Consumer Electronics
- Servo Drives
- Transportation
- Renewable Energy
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
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