Intelligent Power Module Market Size, Industry Share and Forecast, 2030

Intelligent Power Module Market

By 2030, the size of the global intelligent power module market is expected to have grown from around USD 1598.36 million in 2022 to approximately USD 3012.60 million, with a compound annual growth rate (CAGR) of about 8.28% between 2023 and 2030.

Global Intelligent Power Module Market: Overview

A control unit and a driving circuit make up an intelligent power module, which is a collection of high performance modules. With the aid of an IGBT (insulated gate bipolar transistor) chip, this provides higher output. Additionally, this intelligent power module provides a customized consolidated circuit for the implementation of supply under voltage, over temperature, and other self-safety and protection functions. The intelligent power module is a highly integrated device that houses all high voltage commands, from three-phase power to HV-DC (high voltage direct current), in a single module.

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Global Intelligent Power Module Market: Growth Factors

The need for intelligent power modules has increased as a result of the growing economies’ renovation projects related to their current electrical infrastructure. The industry share is anticipated to increase in tandem with the steadily rising power consumption that has been placing strain on the resources of the power supply. The worldwide intelligent power module market share will profit from governments’ shift toward renewable energy sources, which has been exhibited by Germany, India, the United States, and Japan. By creating laws that benefit end users, these governments have been aggressively promoting the use of solar and other renewable energy sources. The number of solar power projects and onshore and offshore wind farms is increasing, which could accelerate the global market for intelligent power modules.

Furthermore, the growing demand for battery-operated electric vehicles (BEVs) and electric vehicles (EVs) has been driving the expansion of the intelligent power module market globally. Because of growing worries about greenhouse gas emissions and environmental safety, these vehicles are being adopted at a significant rate. Due to the tiny design of these modules, many automakers have included them in their lineups because they save energy and space. The market’s ability to advance may be hampered by the delayed adoption of cutting-edge technology like IPM. On the other hand, the growing demand for consumer electronics has made it possible to strengthen energy efficiency, which has greatly expanded the potential for the growth of the worldwide intelligent power module market.

Global Intelligent Power Module Market: Segmentation

There are various ways to differentiate the worldwide intelligent power module market, including voltage rating, current rating, power devices, application, and geography. The market can be divided into three segments based on voltage rating: up to 600 V, 1200 V, and above 1200 V. The global intelligent power module market is divided into three segments based on current rating: up to 20 A, 20 A – 100 A, and more than 100 A. Power devices have classified the worldwide intelligent power module market into two segments: IGBT (insulated-gate bipolar transistor) and MOSFET (metal oxide semiconductor field effect transistor). Applications such as industrial, automotive, consumer electronics, transportation, servo drivers, UPS, and renewable energy can be used to categorize the worldwide intelligent power module market.

Global Intelligent Power Module Market: Competitive Players

A few of the market players competing in the global intelligent power module market comprise Fuji Electric Co. Ltd., Infineon Technologies AG, Mitsubishi Electric Corporation, Powerex Inc., ROHM Co., Sensitron Semiconductor, STMicroelectrics N.V., Semikron, TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, CISSOID, Future Electronics, Microsemi, On Semiconductor Corporation, Renesas Electronics Corporation, Sanken Electric Co., Ltd., silentknight (Honeywell), Vincotech GmbH, and Texas Instruments Incorporated.

Global Intelligent Power Module Market: Regional Analysis

Since many multinational corporations have set up shop in developing nations like China and India, the intelligent power module market in Asia Pacific is expected to rise at faster rates during the course of the projected period. Asia Pacific has seen a rise in demand for intelligent power modules due to the high consumption rate of consumer electronics, such as power motors, air conditioning inverters, refrigerators, PC power supply units (PSUs), and electric pumps.

North America is expected to have a substantial market share contribution to the worldwide intelligent power module market due to the extensive use of these devices in the industrial sector for HVAC, pumps, elevators, and compressors. Canada accounted for approximately forty thousand sales of electric vehicles in 2018, making it the eighth largest market for EVs, according to the International Council on Clean Transportation. ZEV laws and incentives have been put into place by the US federal government to lower carbon dioxide emissions. Additionally, the area looks to see more growth prospects as it anticipates the introduction of zero-emission trucks in the near future.

The market for intelligent power modules in Europe is expected to grow due to the introduction of new technologies like Insulated Gate Bipolar Transistors (IGBT). A number of manufacturers in the area have been excelling because of their affordable, highly integrated, and simple-to-implement products. Moreover, the United States, Europe, China, and Japan comprise 44% of the world’s largest marketplaces.

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