Smart Power Module Market Emerging Factors, Future Demands, and Key Players

Global smart power module market is anticipated to witness an exponential growth in the forecast period. Factors such as acceptance of intelligent power module in the market, developing economies emphasizing on improvements in their infrastructure, technological advancement, rising disposable income, huge investments in water & wastewater amenities, roads, power plants, and airport services are likely to drive the market in forthcoming period.

On the other hand, design-related challenges associated with SiC-based intelligent power modules and slow acceptance of new technologies are anticipated to hinder smart power module market growth in the future. However, surge in the automotive industry is likely to create lucrative opportunities for the market.

Globally, market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. The market could be explored by current rating, voltage rating, circuit configuration, vertical, power device, application and geography. Smart power module market could be explored by voltage rating as 1,200V, Up to 600V and Above 1,200V.

Based on current rating, market could span 101A–600A, Up to 100A and above 600A. The key applications that could be explored in the market include Servo Drives, Consumer Electronics, Renewable Energy and Transportation. The market could be explored based on circuit configuration as 7-PAC, 6-PAC and Others.

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The smart power module market could be explored based on power device as IGBT-Based IPM and MOSFET-Based IPM. The “IGBT-based” segment accounted for a prominent share in the market owing to advantages of the low-loss high-speed IGBTs with optimized and protection gate drive circuitries.

Based on vertical, the market could span Consumer (Washing Machine, Air Conditioner, Refrigerator, and Others) and Industrial (Transportation, Renewable Energy, Servo Drive, UPS, and Others). The “Consumer” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factors that could be attributed to the growth of the market include increasing demand in the consumer electronics segment for improved energy productivity is a foremost opportunity for the development of intelligent power modules in the segment.

APAC is a leading region in the market. It is likely to maintain its dominance in the forecast period owing to factors, such as increasing energy requirements in developing economies such as India and China, growing demand for consumer goods, the APAC region has emerged as a robust manufacturing center with foremost manufacturers of consumer goods and improved manufacturing activities in the region, price compensations and initiatives by diverse nations in the region to increase domestic manufacturing are anticipated to offer further impetus for the growth of smart power module industry. APAC is followed by the North American region owing to the developed region, largest automotive markets, and manufacturing revolution in the region.

Key players operating in the smart power module market include Infineon Technologies AG, Mitsubishi Electric Corp, Fuji Electric Co. Ltd, Semikron, Fairchild Semiconductors, ROHM Co., Ltd, Future Electronics Inc., Vincotech GmbH, ST Microelectronics N.V., ON Semiconductor Corporation and Powerex Inc. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

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