The global intelligent power module market was valued at more than $1 billion in 2015 and is expected to surpass $2 billion by 2020, says Technavio.
Technavio has announced its latest market research report on intelligent power module during the forecast period, 2016-2020. This market analysis, under the embedded systems vertical, discusses the major drivers and key emerging trends that will influence the growth of the global intelligent power module market during the forecast period. Some of the top vendors listed in this industry analysis include Infineon Technologies, Mitsubishi Electric, Fuji Electric, SEMIKRON, and ON Semiconductor.
As per geographical segmentation, APAC will be the largest region in the global market, and is expected to reach revenues of almost $2 billion by 2020. China, India, South Korea, Taiwan, Singapore, and Malaysia will emerge as the key revenue-generators.
“The vendors are using GaN and SiC power semiconductors that have lower energy losses, better switching speeds, and offer higher heat resistance. The introduction of hybrid electric vehicles in the automotive industry will increase the demand for these semiconductors. Next-generation materials like super-junction MOSFETs have increased the voltage compatibility of these devices and improved performance. GaN and SiC semiconductors are a cost-effective technology for sectors like rail traction and PV inverters,” says Sunil Kumar Singh, a lead analyst at Technavio for research on embedded systems.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Demand for modular power solutions in renewable energy applications
These power modules are used in renewable energy applications that include wind converters and photovoltaic solar energy systems. Its application includes the conversion of clean energy sources such as photovoltaic and winds energy into usable commercial power. These systems have high switching frequency which helps to reduce power consumption, decrease heat dissipation, and conserve energy. The properties like low on-state voltage drop and high on-state power density help the use of these in a generation, transmission, and supply of power. Some of the other applications of these power solutions are the extensive use of inductive heating cookers, uninterruptible power supplies, high-frequency welding equipment, motor drives, the wind power generators, and solar power generators.
Increasing need for higher power density
The increasing requirement for high power density in power electronics, especially for high-power applications, will drive the market growth. Systems like inverter systems, wind power generators, power electronic devices in railroad traction drives, and solar power generators use IGBT-based IPMs to increase their operational efficiency. IGBTs require less power, have simplified circuits, and optimum forward and reverse blocking capabilities resulting in increasing demand for these modules.
Need for IPMs in rail traction
The modernization and introduction of new technologies in railroads has increased the use of IGBT-based power modules. Some of the new technologies gaining traction include on board Wi-Fi, GSM, long-term evolution (LTE), and telemetry which require efficient and flexible power solutions. These power modules have high-efficiency power switching and optimized topology to improve the mean time between failure (MTBF) and long-term reliability. The increasing demand for safety, communication, passenger comfort and new generations of trains will lead to the growth of the market during the forecast period.
Other prominent vendors identified in this report are STMicroelectronics, Renesas Electronics, ROHM Semiconductor, Texas Instruments, Powerex, and Vincotech.
This research report includes an in-depth analysis, market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Intelligent Power Module Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Data Center Rack Power Distribution Unit Market 2016-2020
- Global Power Transistor Market 2016-2020
- Global Power Amplifier Market 2016-2020
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