Intelligent Power Module Market Expected to Reach $3.7 Billion By 2031: Says Allied Market Research
Allied Market Research
9 min read
Allied Market Research
The global intelligent power module market is experiencing growth due to various factors, including their significant requirement in electrical equipment, electronic machinery, and technology field. IPMs are also used for power management and power conservation, especially in the face of today’s concerns regarding global warming and CO2 emissions. The continued adoption of technology by the industrial sector is likely to drive the market for intelligent power modules.
Portland, OR, March 20, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global intelligent power modulemarket was estimated at $1.6 billion in 2021 and is expected to hit $3.7 billion by 2031, registering a CAGR of 8.7% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
Industry Vertical, Voltage, Current Rating, Circuit Configuration, Power Device, and Region
Drivers
Surge in global electric equipment, electronic machinery, and technology field
IPMs are used for power management and power conservation
Opportunities
Rising demand for IPMs in automobile industries and power semiconductor applications
Restraints
Slow adoption of novel technologies
Complexity of manufacturing the intelligent power modules (IPMs)
COVID-19 Scenario:
The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global intelligent power module market. Lockdowns imposed by governments of many countries caused production and manufacturing facilities to close, creating a crisis and a labor shortage.
The market experienced a decline between 2019 and 2020, according to opinions from numerous industry experts from different segments of the value chain, including OEMs, suppliers, integrators, end users, and distributors, as well as the financial results of different businesses in the intelligent power module industry.
The global supply chain was also disrupted by the pandemic outbreak, leaving a significant gap in the system. The pandemic's disruptive economic effects were felt. Due to a slowdown in the growth of the market caused by the scarcity of raw materials, major players in the intelligent power module industry temporarily saw a drop in sales for the fiscal years 2020 to 2021.
However, with the world gradually returning to normalcy, major players in the intelligent power module market have reduced their R&D budgets moderately and shifted their attention to next-generation product growth.
The report offers a detailed segmentation of the global intelligent power module market based on industry vertical, voltage, current rating, circuit configuration, power device, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
By industry vertical, the industrial segment held the largest share in 2021, accounting for around one-third of the global intelligent power module market and is projected to maintain its dominance by 2031. The transportation segment would cite the fastest CAGR of 9.9% throughout the forecast period. The consumer electronics, IT and telecommunications and others segments are also studied in the report.
By voltage, the up to 600V segment held the largest share in 2021, garnering nearly two-thirds of the global intelligent power module market and would dominate the market in terms of revenue through 2031. However, the same segment is expected to manifest the highest CAGR of 9.28% throughout the forecast period. The report also discusses the 601V - 1,200V and above 1,200V segments.
By current rating, the up to 100A segment accounted for the highest share in 2021, generating more than three-fifths of the global intelligent power module market revenue and is projected to rule the roost by 2031. Simultaneously, the same segment would also showcase the fastest CAGR of 9.34% during the forecast period. The 101A to 600A and above 600A segments are also analyzed throughout the report.
By circuit configuration, the 6-pack segment accounted for the highest share in 2021, holding more than two-fifths of the global intelligent power module market revenue, and is expected to maintain its lead in terms of revenue during the forecast period. The same segment, however, is estimated to grow at the highest CAGR of 9.62% in 2031. The other segments assessed through the report take in 7-Pack, bridge and others.
By power device, the insulated-gate bipolar transistor (IGBT) segment held the highest share in 2021, accounting for nearly two-thirds of the global intelligent power module market revenue and is expected to continue its leadership status during the forecast period. The same segment is expected to register the highest CAGR of 9.85% from 2022 to 2031. The report also discusses the metal-oxide-semiconductor field-effect transistor (MOSFET) and others segments.
Based on region, Asia-Pacific held the major share in 2021, garnering nearly half of the global intelligent power module market revenue and is projected to maintain the lion’s share by 2031. Simultaneously, the same region would display the fastest CAGR of 9.97% throughout the forecast period. The other provinces studied in the report include North America, Europe, and LAMEA.
The key market players analyzed in the global intelligent power module market report include Silan Semiconductor Manufacturing Group, Mitsubishi Electric Corporation, Texas Instruments Incorporated, Fuji Electric Co. Ltd., Toshiba Electronic Devices & Storage Corporation, Rohm Co. Ltd., STMicroelectronics N.V., Microchip Technology Inc., Infineon Technologies AG, and Renesas Electronics Corporation. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
Key Benefits For Stakeholders:
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the intelligent power module market analysis from 2021 to 2031 to identify the prevailing intelligent power module market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the intelligent power module market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global intelligent power module market trends, key players, market segments, application areas, and market growth strategies.
Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
LAMEA (Latin America, Middle East and Africa)
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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