The Europe Intelligent Power Module Market would witness market growth of 7.9% CAGR during the forecast period (2022-2028).
The intelligent power module market is fairly competitive due to the presence of many established players. As a result of ability to meet market demands with various items, market vendors are anticipated to gain a competitive edge over their rivals. The competitive landscape in this market is anticipated to intensify as top vendors embrace technical advancements, product extensions, and new strategies.
Several government programs primarily directed at decreasing CO2 emissions and protecting the environment have been encouraging the use of clean energy vehicles like hybrid plug-in electric vehicles, Electric Vehicles (EVs), and alternative fuel vehicles, in which intelligent power modules are mainly deployed in oil pumps, onboard charging units, AC compressors, etc. Thus, it is anticipated that the expansion of the electric vehicle industry will contribute to the expansion of the market under study.
IPMs are commonly utilized in home appliances like air conditioners, washing machines, vacuum cleaners, and refrigerators. Yet, for the quick expansion of the IPM market, new IPM trends and technologies must be adopted. Vendors' emphasis on combining multiple features onto a single chip inhibits the technological advancement of IPMs by making it difficult to construct a highly effective control system.
The UK government announced its plan to engage in a nationally coordinated network of 5G testbed sites and trials. The projects sponsored include IOT, AR & VR, transportation infrastructure, improved manufacturing, 5G security, and many others. Private businesses and network operators have matched the program's major investment from the UK government. By 2030, the German government aims for all its citizens to have access to 5G. Better mobile coverage on railroad lines is a goal of the plan, which also wants to accelerate the rollout of 5G and fiber. The government intends to accomplish this by accelerating the planning processes for infrastructure and helping mobile providers reach underserved areas. With the expanding 5G infrastructure across the region, the intelligent power module market is estimated to grow.
The Germany market dominated the Europe Intelligent Power Module Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $137.3 million by 2028. The UK market is anticipated to grow at a CAGR of 6.9% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 8.6% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
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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