USD 1.42 billion
Intelligent Power Module Market Size, Share, Growth Analysis, By Voltage Type(low voltage intelligent power modules (up to 600V) and high voltage intelligent power modules (above 600V)), By Power Device Type(IGBT (Insulated Gate Bipolar Transistor) intelligent power modules and MOSFET (Metal-Oxide-Semiconductor Field-Effect Transistor) intelligent power modules), By End Use(automotive, consumer electronics, industrial, renewable energy), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45N2060 |
Region:
Global |
Published Date: March, 2024
Pages:
197
|Tables:
88
|Figures:
76
Intelligent Power Module Market Insights
Intelligent Power Module Market size was valued at USD 1.42 billion in 2022 and is poised to grow from USD 1.55 billion in 2023 to USD 3.06 billion by 2031, at a CAGR of 8.9% during the forecast period (2024-2031).
The Global Intelligent Power Module Market is experiencing significant growth, driven by the increasing demand for advanced power management solutions across various industries. Intelligent power modules are integrated circuits that combine power semiconductors with control circuitry, offering improved efficiency, reliability, and compactness in power electronic systems. The purpose of this market is to provide efficient and reliable power control solutions for applications such as industrial motor drives, renewable energy systems, consumer electronics, and electric vehicles. Several factors are fueling the growth of the intelligent power module market. Firstly, the rising adoption of electric vehicles and the need for efficient power conversion in these vehicles are driving the demand for intelligent power modules. Additionally, the increasing emphasis on energy efficiency and the growing use of renewable energy sources are propelling the market forward. The integration of advanced features such as overcurrent protection, short circuit protection, and temperature monitoring in intelligent power modules further boosts their adoption.
However, the market does face some restraints. The high initial costs associated with intelligent power modules and the complexity of integrating them into existing systems can hinder market growth to some extent. Moreover, the lack of standardized testing procedures and the need for skilled professionals to handle these modules pose challenges for market players. Despite these challenges, the market presents several key trends and opportunities. The miniaturization of intelligent power modules to meet the demand for compact electronic devices is a notable trend. Furthermore, the integration of intelligent power modules with advanced technologies like the Internet of Things (IoT) and Artificial Intelligence (AI) offers immense opportunities for market growth. These modules can enable smart control and monitoring of power systems, leading to improved performance, energy efficiency, and predictive maintenance.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Low Voltage Intelligent Power Modules (Up To 600V)
Fastest Growth
Low Voltage Intelligent Power Modules (Up To 600V)
Growth Rate
8.9% CAGR
Global Intelligent Power Module Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
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Intelligent Power Module Market Segmental Analysis
Global Intelligent Power Module Market is segmented on the basis of voltage type, power device type, end use, and region. By voltage type, the market is segmented into low voltage intelligent power modules (up to 600V) and high voltage intelligent power modules (above 600V). By power device type, the market is segmented into IGBT (Insulated Gate Bipolar Transistor) intelligent power modules and MOSFET (Metal-Oxide-Semiconductor Field-Effect Transistor) intelligent power modules. By end use, the market is segmented into automotive, consumer electronics, industrial, renewable energy, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Intelligent Power Module Market Analysis By Voltage Type
The largest segment is the low voltage intelligent power modules, encompassing modules with a voltage range of up to 600V. These modules are extensively utilized across various industries for applications such as motor drives, consumer electronics, and renewable energy systems. Their popularity stems from their versatility, cost-effectiveness, and wide availability. Low voltage intelligent power modules offer significant advantages in terms of power control and efficiency. They enable precise control of voltage and current, leading to enhanced system performance and reduced energy consumption. Additionally, their compact size and ease of integration make them ideal for space-constrained applications, contributing to their widespread adoption. Furthermore, the low voltage intelligent power module segment is experiencing robust growth due to several factors. The increasing demand for electric vehicles, home automation systems, and industrial automation is driving the need for efficient power management solutions in the low voltage range. Moreover, the rising focus on energy efficiency and the adoption of renewable energy sources are further propelling the market growth for low voltage intelligent power modules.
On the other hand, while the low voltage segment is the largest in terms of market share, the fastest-growing segment is the high voltage intelligent power modules, catering to voltages above 600V. These modules find extensive application in sectors such as industrial equipment, electric power distribution systems, and hybrid electric vehicles. The increasing adoption of high-power applications and the need for advanced power control solutions in these sectors are driving the growth of the high voltage intelligent power module market.
Intelligent Power Module Market Analysis By End Use
The automotive sector emerges as the largest segment, while the renewable energy sector showcases the fastest growth rate. The automotive industry, with its increasing focus on electrification and energy efficiency, commands a significant share of the IPM market. As electric vehicles (EVs) gain traction worldwide, the demand for efficient power modules to drive the EV powertrain systems is escalating. The IPMs employed in EVs offer advanced features such as compact size, high power density, and improved thermal management, enabling optimal performance and range. With the global push for sustainable transportation solutions, the automotive sector is projected to dominate the IPM market, capturing a substantial market share.
On the other hand, the renewable energy sector is experiencing rapid growth and emerges as the fastest growing segment in the IPM market. With the increasing adoption of clean energy sources like solar and wind power, there is a surging demand for efficient power conversion and energy management solutions. Intelligent Power Modules play a vital role in renewable energy systems, enabling the efficient conversion of DC power generated by solar panels or wind turbines into usable AC power. These modules offer high efficiency, improved reliability, and enhanced grid stability, driving the growth of the IPM market in the renewable energy sector. The logic behind the renewable energy sector's rapid growth lies in the global shift towards sustainable energy sources to combat climate change and reduce carbon emissions. Governments and organizations worldwide are investing heavily in renewable energy projects, creating a favorable market landscape for IPMs. With renewable energy installations expected to surge in the coming years, the demand for IPMs in this sector is set to skyrocket, positioning it as the fastest growing segment in the IPM market.
Global Intelligent Power Module Market Size By Voltage Type Type 2022(%)
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Intelligent Power Module Market Regional Insights
Asia Pacific, with its robust industrial infrastructure and expanding manufacturing sector, commands a substantial share of the global IPM market. The region's dominance is fueled by the presence of key market players, technological innovations, and the rising adoption of IPMs in applications such as consumer electronics, automotive, and industrial automation. For instance, in Japan, a major player introduced a cutting-edge IPM solution for electric vehicle (EV) powertrains, capturing a significant market share. This advanced IPM offers improved power efficiency, compact design, and enhanced thermal management, catering to the growing demand for electric mobility solutions.
On the other hand, North America stands out as the fastest growing region in the IPM market. The region is witnessing accelerated adoption of IPMs, primarily driven by the increasing emphasis on energy-efficient solutions, renewable energy integration, and the electrification of transportation. A notable example is a leading company in the United States that introduced an intelligent power module for solar inverters. This IPM integrates advanced features such as advanced monitoring and control, high power density, and enhanced reliability, catering to the flourishing solar energy sector. With favorable government initiatives and growing investments in clean energy, North America is poised to experience significant market growth, capturing an expanding market share.
Global Intelligent Power Module Market Size By Geography, 2022-2030
- Largest
- Fastest
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Intelligent Power Module Market Dynamics
Intelligent Power Module Market Drivers
Growing Demand for Energy-Efficient Solutions
- The increasing need for energy efficiency across industries is a significant driver for the intelligent power module market. As companies strive to reduce energy consumption and improve operational efficiency, intelligent power modules offer advanced features like high power density, precise control, and reduced power losses. For example, intelligent power modules are extensively used in electric vehicles (EVs) to enhance battery performance and increase driving range.
Intelligent Power Module Market Restraints
Complex Design and Integration Challenges
- Intelligent power modules require sophisticated design and integration processes due to their complex functionalities and high-power density. The integration of power devices, gate drivers, protection circuits, and control interfaces requires careful layout considerations and thermal management. Designing and optimizing these modules for specific applications can be challenging, especially for small and compact form factors.
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Intelligent Power Module Market Competitive Landscape
The Global Intelligent Power Module market has been experiencing significant growth due to the increasing demand for energy-efficient solutions and the adoption of renewable energy sources. Intelligent power modules offer advantages such as improved power density, enhanced thermal management, and higher reliability, driving their adoption across various industries. The market is highly competitive, with key players competing based on factors such as product innovation, pricing, and performance. Some prominent companies in the market are continuously investing in research and development to introduce advanced intelligent power modules that cater to evolving customer requirements. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to strengthen their market position and expand their product portfolios.
Intelligent Power Module Market Top Player’s Company Profiles
- Mitsubishi Electric Corporation (Japan)
- Fuji Electric Co., Ltd. (Japan)
- ON Semiconductor Corporation (US)
- ROHM Co., Ltd. (Japan)
- STMicroelectronics N.V. (Switzerland)
- Renesas Electronics Corporation (Japan)
- Texas Instruments Incorporated (US)
- Hitachi, Ltd. (Japan)
- Toshiba Corporation (Japan)
- Fairchild Semiconductor International, Inc. (US)
- Danfoss Group (Denmark)
- Vishay Intertechnology, Inc. (US)
- Microchip Technology Inc. (US)
- ROHM Semiconductor GmbH (Germany)
- Powerex Inc. (US)
- Infineon Technologies Austria AG (Austria)
- Mitsubishi Electric Europe B.V. (Netherlands)
- IXYS Corporation (US)
Intelligent Power Module Market Recent Developments
-
In August 2023, Fuji Electric unveiled their P633C Series, a 3rd generation of small intelligent modules. These modules are specifically engineered to reduce the power consumption of devices, including machine tools and home appliances, that are integrated with them.
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In December 2022, STMicroelectronics launched high-power modules for electric vehicles that will boost performance and driving range. ST’s new silicon-carbide (SiC) power modules has selected for Hyundai’s E-GMP electric-vehicle platform shared by KIA EV6 and several models.
- In May 2022, Sensitron announced the launch of the SPG025N035P1B GaN Half Bridge Intelligent Power Module which incorporates Efficient Power Conversion's 350 V EPC2050 eGaN FET. By replacing traditional silicon FETs with EPC's 350 V and EPC2050 GaN FET, Sensitron was able to reduce the size of their solution by 60%. Additionally, this replacement enhanced the module's junction-to-case thermal conduction, leading to improved performance.
Intelligent Power Module Key Market Trends
- Increasing Integration of Advanced Semiconductor Technologies: The intelligent power module market is witnessing a trend towards the integration of advanced semiconductor technologies, such as SiC and GaN. These materials offer higher efficiency, faster switching speeds, and better thermal performance compared to traditional silicon-based power devices. For instance, SiC-based intelligent power modules are gaining traction in electric vehicle charging infrastructure, where high power density and fast charging capabilities are crucial.
Intelligent Power Module Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, The Global Intelligent Power Module Market is projected to experience significant growth in the coming years. The increasing demand for compact and energy-efficient power modules in various industries, including automotive, consumer electronics, and industrial sectors, is a key driving factor. Intelligent power modules offer advantages such as enhanced power density, improved thermal management, and higher reliability, thereby supporting the adoption of advanced power electronics solutions. Additionally, the rising focus on renewable energy sources and the growing need for power management solutions in electric vehicles are further propelling the market growth. Furthermore, technological advancements such as the integration of advanced semiconductors like GaN and SiC in intelligent power modules are expected to revolutionize the power electronics industry, fostering market expansion.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.42 billion |
| Market size value in 2031 | USD 3.06 billion |
| Growth Rate | 8.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Intelligent Power Module Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Intelligent Power Module Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Intelligent Power Module Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Intelligent Power Module Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Intelligent Power Module Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Intelligent Power Module Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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