Increasing demand for modular power solution in the renewable energy application is a key driver for the expansion of the intelligent power module market. Increasing need for high power density and consistently rising need for IPM in the railway traction motor is estimated to fuel the expansion of the intelligent power module market. The growing penetration of high voltage direct current is also a key factor that is anticipated to boost the demand for different modular power solutions during the forecast period.
Additionally, rising demand for consumer goods and enhanced energy requirement in emerging economies is also anticipated to increase the demand for modular power solution in the near future. This, in turn, is projected to propel the intelligent power module market during the forecast period.
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The IPM market is estimated to show a slight dip and instability in growth rate because of the lower adoption rate of the power electronic devices. Grid faults in the power semiconductor devices and reduction in the size of the IGBT modules, which is leading towards high power dissipation, are also restraining factors for the global IPM market.
Rising demand for hybrid and electric vehicles and increasing adoption of clean energy sources is likely to create a significant opportunity for the intelligent power module market in the near future. Moreover, the emerging market of GAN and SIC power semiconductors is further projected to act as an opportunity for the intelligent power module market during the forecast period.
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Medium and the high-power application have been implemented by using hybrid integration. Hybrid integration used to cover wide range of power electronics. Intelligent power module or application specific IPM are being used for voltage ratings up to600V and a current rating from a few Amp up to 100Amp, and the typical power module for the current ranges greater than 100Amp and voltage over 1200V. Expansion of the intelligent power module market is highly reliant on the growth of power devices modules mainly focusing on IGBT and mosfet, which provides system control function and improved system performance.