The Global Intelligent Power Module Market is slated to grow at 9.28% CAGR, witnessing substantial growth during the reivew period. The market was valued at a value of USD 1,854.1 million in 2017, and is poised to reach a significant valuation of USD 3,102.5 million by 2023.
The market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on market highlights the future prediction and the growth alternatives that can be created.
Get Free Sample at: https://www.marketresearchfuture.com/sample_request/5881
Drivers and Restraints
The global market for intelligent power modules is expanding owing to the growing demand for consumer electronics devices, rising utilization of renewable energy resources, and enahnced adoption of electric and hybrid vehicles. The several factors attributing to the growth of global intelligent power modules market are the growing demand of consumer electronic devices, the increasing trend of renewable energy resources, and rising adoption of electric and hybrid vehicles. morevoer, emerging trends in the electronics industry and the demand for intelligent power module is expected to create opportunities for market players during the forecast period.
The global market for intelligent power module has been segmented on the basis of application, type, and region. The intelligent power module market, by voltage rating, has been segmented into 601–1200V, Up to 600V, and more than 1200V. based on the current rating, the market has been segmented into 101–600A, up to 100A, and more than 600A. Based on the circuit configuration, the market has been segmented into 7-pack, 6-pack, phase bridge, and dual. Based on the power device, the market has been bifurcated into IGBT and MOSFET. Based on the application, the market for intelligent power module has been segmented into automotive, consumer electronics, renewable energy, and others.
The geographical analysis of Intelligent Power Modules Market Covid 19 has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world (LAtin America, the Middle East and Africa) Asia-Pacific is slated to dominate the intelligent power module market during the assessment period due to the presence of electronic component production industries and suppliers. The key players in the region consist of various tier 1 component maret players and foundries such as Panasonic Corporation, Taiwan Semiconductor, and Foxconn. The end users of the intelligent power modules are present in China, South Korea, Japan, Australia, and India. on the other hand, the users in other countries do not need IMPs in industrial as well as commercial applications. Therefore, the limited availability of end use industries in the rest of Asia-Pacific poses as a challenge for market growth over the review period. The rapid fluctuations in economic stability largely influences the sales and profits of in-house international companies.
North America was the second major market in 2017, valued at USD 514.9 million; the market is poised to exhibit a CAGR of 9.3%. The presence of tier-1 manufacturers such as Texas Instruments, ON Semiconductor, and others, in the US is fueling the growth of the intelligent power module market. The growth of the Canadian IPM market is highly reliable on the production of electric vehicles in the country. furthermore, the consumer electronics industry in Canada is growing at a high rate which is further enahncing the demand for intelligent power modules. The end users of intelligent power modules are aware of its application and are gradually adopting IPMs in their products for enhanced power efficiency. As a result, the companies present in the region are constantly launching new products incorporated with IPMs to improve the level of quality and for implementing innovative designs.
The major market players operating in the global market as identified by MRFR are ROHM Semiconductors (Japan), STMicroelectronics NV (Switzerland), Infineon Technologies (Germany), Mitsubishi Electric Corporation (Japan), Texas Instruments Incorporated (US), ON Semiconductor (US), Hon Hai Precision Industry Co., Ltd (Taiwan), Fuji Electric Co. Ltd (Japan), and Sanken Electric Co. Ltd (Japan).
Browse More Details on Report at: https://www.marketresearchfuture.com/reports/intelligent-power-modules-market-5881
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.
+1 646 845 9312