Intelligent Power Module Market: Growing Trend Of Electric And Hybrid Vehicles To Boost Demand

The global intelligent power module (IPM) market is projected to expand at an 8.93% CAGR over the course of 2016 to 2020. The report, titled ‘Global Intelligent Power Module Market 2016-2020,’ is available for sale on the official website of MarketResearchReports.biz. According to the report, the ability of intelligent power modules to enhance a system’s reliability by providing an improved level of monitoring is fueling the demand for these modules. The growing demand for modular power solutions for renewable energy applications is also expected to boost the growth prospects of the intelligent power module market. IPMs help improve a system’s reliability and performance. The drive circuitries and protection circuitries are integrated into IPM, thus enabling reduction in design and development efforts.

The report states that intelligent power modules have benefits such as high switching frequency, enabling a reduction in heat dissipation and power consumption, subsequently leading to conservation of energy. Moreover, IPMs are in high demand as they are being used in uninterruptible power supplies, inductive heating cookers, motor drives, high-frequency welding equipment, solar power generators, and wind power generators. In addition to this, it is expected that the rising demand for hybrid and electric vehicles will fuel the market’s growth in the forthcoming years.

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On the basis of application, the global intelligent power module market is segmented into industrial and commercial, of which, the industrial segment was found to lead in 2015. The industrial segment is anticipated to continue to lead in the market through 2020, as per the research study. The increasing need to conserve energy in industrial motor drives is most likely fueling the demand for intelligent power modules from the industrial sector. By geography, Asia Pacific led in the market in 2015 and is estimated to retain its leading position in the market due to a high demand for power, as infrastructure developments are on a rise in this region. The improvement in the economy and the growing urbanization in countries such as China and India are also major growth drivers, boosting the IPM market in Asia Pacific.

The report profiles key players in the market such as ROHM Semiconductor, Mitsubishi Electric, Infineon Technologies, STMicroelectronics, Renesas Electronics, Texas Instruments, Fuji Electric, SEMIKRON, ON Semiconductor, and Powerex, and Vincotech. As per, the report, it is difficult to enter the market as there are significantly high capital requirements, acting as barriers for new entrants. The competition is expected to be high in the market as players increasingly compete in terms of developments in technology and rapidly coping up with changing customer requirements. The growing extensions of products on the basis of size and innovation in technology will further intensify the competition in the market.

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