The Asia Pacific Intelligent Power Module Market would witness market growth of 8.7% CAGR during the forecast period (2022-2028).
The companies concentrate on utility solar, solar power, consumer durables, and traction. In the long term, they will direct their best efforts toward designing electric vehicle traction and chargers. Together with the expansion of the mentioned sector, they are also contributing to the long-term expansion of the space for optical devices (OPTO) and high frequency (HF) and high voltage direct current (HVDC) industries. The utilization of intelligent power modules for industrial applications is one of the primary drivers driving the market. Many industries rely on electrolysis, electroplating, induction, illumination, welding, and heating. These procedures utilize intelligent power modules to ensure safe and effective electric power usage.
As populations in numerous emerging economies increase, so does the demand for consumer electronics goods. In addition to generating demand for intelligent power modules, this breakthrough has also led to their proliferation. This serves as a market-driving component over the anticipated time frame. This market is also driven by the increasing need for intelligent power modules due to the growing popularity of electric hybrid vehicles among the general public. The significant increase in renewable energy resources plays an additional role in market demand.
China's semiconductor industry is projected to expand due to the presence of key businesses and extensive output. As the demand for automotive IGBTs contracts, Chinese auto suppliers and original equipment manufacturers (OEMs) are required to produce intelligent power modules. In addition, due to the high demand for SiC MOSFET modules, a revolutionary material for EV power modules, China-based EV, manufacturers are also utilizing this technology. In light of these reasons, the APAC market is anticipated to expand.
The China market dominated the Asia Pacific Intelligent Power Module Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $311.2 million by 2028. The Japan market is estimated to grow a CAGR of 8% during (2022 - 2028). Additionally, The India market would experience a CAGR of 9.3% during (2022 - 2028).
Based on Voltage, the market is segmented into Up To 600V, 601V - 1,200V and Above 1,200V. Based on Circuit Configuration, the market is segmented into 6-Pack, Bridge, 7-Pack and Others. Based on Vertical, the market is segmented into Industrial, Consumer Electronics, Transportation, IT & Telecommunications and Others. Based on Current Rating, the market is segmented into Up to 100A, 101A to 600A and Above 600A. Based on Power Device, the market is segmented into Insulated-Gate Bipolar Transistor (IGBT), Metal-Oxide-Semiconductor Field-Effect Transistor (MOSFET) and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Intelligent Power Module Market is Projected to reach USD 2.5 Billion by 2028, at a CAGR of 8.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mitsubishi Electric Corporation, Fuji Electric Co., Ltd., Infineon Technologies AG, Rohm Co., Ltd., STMicroelectronics N.V., Microchip Technology Incorporated, Texas Instruments, Inc., Toshiba Electronic Devices & Storage Corporation (Toshiba Corporation), Renesas Electronics Corporation and ON Semiconductor Corporation.
By Voltage
By Circuit Configuration
By Vertical
By Current Rating
By Power Device
By Country
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