LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global intelligent power module (IPM) market report. This research report also lists six other prominent vendors that are expected to impact the market during the forecast period.
The increase in demand from smart grids, renewable energy, and the commercial sector will drive the market. The market growth is also dependent on the efficiency and cost effectiveness of power electronics devices that are used for stabilizing the power supply in many devices. Awareness about the environment will foster the demand for electric and hybrid electric vehicles, which use IPMs. The automation of industrial processes will result in high power consumption. To reduce the high consumption of power and cut costs, manufacturing industries will also adopt IPMs during the forecast period. The market growth rate will fall because of the steady decline of consumer electronics sector primarily because of price sensitivity.
Competitive vendor landscape
The global IPM market is dominated by the top five vendors accounting for more than 80% of the overall revenue. The market is highly competitive with the players vying with each other to gain larger market shares. The global IPM market has a high potential for growth because of the increase in applications for power electronic devices across several sectors. The market is characterized by the presence of significant entry barriers in the form of capital requirements, which prevents new players from entering the market.
“Intense competition, rapid advancements in technology, and the changing dynamics of the market are the key factors for the intense competition among vendors. With the rising competition, the market will also see consolidation. Few mergers and acquisitions are taking place in the market,” says Sunil Kumar Singh, a lead embedded systems analyst from Technavio.
International players will grow inorganically during the forecast period through M&A of regional or local players. American and European players are prioritizing horizontal integration, to maintain proven expertise at a specific level. Asian companies are expanding vertically to be fully integrated and optimize the costs.
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Top five IPM market vendors
The company is the second largest manufacturer of high-power IGBT modules. Its CoolMos and SiC technologies have proven to be its strengths in power electronics. The company is expanding its Australian site in Villach, which will be its innovation and competence center for power electronics. The company strives to enhance the performance of its power electronics components, which contributes to better fuel efficiency and lower emission norms of the automotive industry.
The company operates through 50 subsidiaries across EMEA, APAC, and the Americas. It caters to the automation, data processing, electromobility, industrial, chip card and security, consumer, solar energy systems, wind energy systems, automotive, lighting, medical, motorcycles, e-bikes and small e-vehicles, mobile devices, power supplies, motor control and drives, and smart grid sectors.
Mitsubishi Electric is leading vendor in the IPM market. It is a global leader in the manufacturing and marketing of electrical and electronic equipment used in the communications, consumer electronics, industrial technology, energy, and transportation industries. The company also focuses on developing new products and technologies and has invested USD 1.795 billion in R&D as of March 2016. It has set up corporate laboratories in Japan, the US, and Europe, and has also established partnerships with research institutes in Japan and the overseas markets.
Some of its subsidiaries include Mitsubishi Electric Building Techno-Service, Mitsubishi Electric Plant Engineering, Ryoden Elevator Construction, Mitsubishi Electric Control Software, Ryoko, Mitsubishi Elevator Hong Kong, and Mitsubishi Elevator Korea.
Fuji Electric, originally known as Fuji Electric Holdings, changed its name to Fuji Electric Co. Ltd. in July 2011. The company is engaged in the development of food and beverage vending machines, refrigerated and freezer showcases, and retail distribution systems. It manufactures beverage vending machines through Fuji Electric Retail Systems. It focuses on peripheral businesses such as vending machine refurbishment, repair, and installation and conducts store distribution activities.
SEMIKRON is one of the key leading vendors in the global IPM market and has its production plants in more than 10 countries. It offers semiconductor chips, driver electronics, cooling systems, capacitors, controllers, and other products and solutions through two major divisions: components and systems and solutions. Its components division offers IGBT modules, MOSFET modules, thyristors, rectifiers, and other power electronic components. Its systems and solutions division offers IGBT systems, MOSFET systems, converter systems, and other engineering technology systems.
ON Semiconductor manufactures and sells analog, standard logic, and discrete semiconductors for data and power management applications. Its product portfolio includes ICs and analog ICs. In addition, the company offers discrete semiconductors in a variety of surface-mount and standard packages.
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