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Intelligent Power Module Market Propelled by Wide Applications in Indu

Intelligent Power Module Market

Market Overview:
The intelligent power module market comprises power modules integrated with control, protection and monitoring intelligence. These modules are used for power conversion applications in various end-use sectors including industrial machinery, electric vehicles, renewable energy systems and motor drives. Intelligent power modules provide enhanced performance over conventional discrete solutions by reducing component count, optimizing power density and improving reliability. They offer multiple protections such as over current, over voltage and short circuit along with self-driven gate signals. The growing popularity of EVs and industrial automation has fueled the demand for IGBT and MOSFET based intelligent power modules for high power applications.

The Global Intelligent Power Module Market is estimated to be valued at US$ 4.53 Bn in 2024 and is expected to exhibit a CAGR of 11.% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Intelligent Power Module market are Avalanche Technology Inc., Fuji Electric Co., Ltd., Hitachi, Ltd., Infineon Technologies AG, Intelligent Power and Energy Research Corporation, Mitsubishi Electric Corporation, ON Semiconductor, Powerex, Inc., Pre-Switch, Inc., Renesas Electronics Corporation, ROHM Semiconductor, Semikron, Semiconductor Components Industries, LLC, STMicroelectronics, and Toshiba Electronic Devices & Storage Corporation.

The growing demand for electric vehicles and renewable energy systems is fueling the adoption of intelligent power modules. Intelligent power modules provide better performance over conventional solutions in electric drive applications.

Leading manufacturers are focusing on global expansion through partnerships and mergers & acquisitions to consolidate their position in the market. Growing industrialization in Asia Pacific and Latin America provides significant opportunities for intelligent power module suppliers.

Market Key Trends

The rising penetration of vehicle electrification is one of the key driving the growth of Intelligent Power Module Market Demand. Many leading automakers are committed to shift to all electric model lineups over the next decade, driving the demand for IGBT and SiC based power modules in EV powertrains.module suppliers. Manufacturers are also developing advanced IGBT and wide bandgap devices like SiC MOSFETs with higher voltage and current ratings for applications in renewable energy conversions, rail traction, and battery charging stations. The growing focus on energy efficient technologies will further propel the intelligent power module market during the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate in the intelligent power modules market due to the presence of large established players and significant investments required for R&D.

Bargaining power of buyers: The bargaining power of buyers is high as intelligent power modules are commoditized products and buyers have several options available.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are various component manufacturers in the supply chain.

Threat of new substitutes: The threat of substitutes is low as intelligent power modules provide unique advantages over conventional discrete components.

Competitive rivalry: The competitive rivalry is high due to the presence of numerous global and regional vendors offering similar products.

Geographical Regions

In terms of value, North America accounts for the largest share of the global intelligent power module market owing to the presence of major automotive companies in the US and Canada. The increasing adoption of EVs and renewable energy systems is driving the demand in the region.

The Asia Pacific region is expected to be the fastest growing market during the forecast period. Countries like China, Japan, and South Korea are contributing significantly to the growth of the intelligent power module market in the region. Rapid industrialization, growing automotive production, and government initiatives to promote clean energy are fueling the market expansion.

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About Author 

Priya Pandey, is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor’s degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya’s meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)

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