Intelligent Power Modules (IPMs) are advanced power electronic devices that integrate power semiconductor devices, control circuits, and protection features in a single package. IPMs are used in various applications, including electric vehicles, renewable energy systems, and industrial machinery, to improve energy efficiency and power density.
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The global Intelligent power module market is expected to reach a market size of USD 3.78 Billion at a CAGR of 11.7% during the forecast period, according to the latest analysis by Emergen Research.
In the upcoming years, the Intelligent Power Module (IPM) market is anticipated to experience significant expansion. IPMs are highly integrated power electronics components that integrate control circuits for both high and low voltages into a single module. They have a wide range of uses, including in HVAC systems, renewable energy systems, and industrial machines.
The growing demand for electric vehicles (EVs) is another factor driving the IPM market. Governments all across the world are promoting the use of EVs through subsidies and other incentives as a means of lowering carbon emissions. As they aid in regulating the power flow between the battery and the motor, IPMs are a crucial part of EVs. IPM demand will increase in tandem with the growth of EV demand.
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IPM market growth could be constrained by a number of reasons, despite the market’s many drivers. IPMs’ high price is one of these factors. Although there are obvious long-term advantages to employing IPMs, consumers and small businesses may find the initial expenditures prohibitive. This might, at least temporarily, hinder the market’s expansion.
The absence of industry standardisation is another factor that can impede market expansion. IPMs currently lack clear standards, which may cause compatibility problems and make it challenging for manufacturers to create solutions that work with a variety of applications. This might impede market expansion and slow the uptake of IPMs.
In spite of these potential obstacles, the IPM market is anticipated to expand significantly over the next few years. The rising utilisation of renewable energy sources is one of the major development reasons. More nations are investing in renewable energy sources like solar and wind power as a means of lowering their carbon footprint. IPMs are essential parts of these systems because they assist in the conversion of DC power into AC power, which is required for the majority of grid-connected applications.
The growing demand for products with higher energy efficiency is one of the main factors driving the IPM market. Consumers and businesses are seeking for ways to minimise their energy consumption and save money as a result of the increase in energy expenses. IPMs are extremely effective tools that can assist in achieving these objectives by lowering power losses and raising energy efficiency. This has raised demand for IPMs across a range of applications, which is anticipated to propel market expansion.
Intelligent Power Module Market Segmentation:
The global Intelligent Power Module (IPM) market has been segmented by Emergen Research based on various factors, including voltage rating, current rating, power devices, application, and region. According to the segmentation by voltage rating, the market has been categorized into three segments: up to 600V, 601 V – 1200 V, and above 1200V. The current rating outlook segment includes up to 100 A, 101 A – 600 A, and above 600 A.
The power devices outlook segment includes two categories, IGBT and MOSFET. The application outlook segment comprises consumer electronics, industrial, information and communication technology (ICT), automotive, and aerospace & defense.
In terms of voltage rating, the up to 600V segment is expected to have the largest market share during the forecast period. This is attributed to the high demand for IPMs in low voltage applications, including HVAC systems and consumer electronics. The 601 V – 1200 V and above 1200V segments are also expected to see significant growth in the coming years, driven by increasing demand in high voltage applications, such as renewable energy systems.
Based on current rating, the 101 A – 600 A segment is projected to have the largest market share. This is due to the high demand for IPMs in medium to high-power applications, such as industrial machinery and electric vehicles. The above 600 A segment is also expected to see significant growth in the coming years, driven by the increasing adoption of IPMs in high-power applications, including renewable energy systems.
In terms of power devices, the IGBT segment is expected to have the largest market share during the forecast period. This is attributed to the high demand for IGBT-based IPMs in a wide range of applications, including industrial machinery, renewable energy systems, and electric vehicles. The MOSFET segment is also expected to see significant growth in the coming years, driven by increasing demand for MOSFET-based IPMs in consumer electronics and ICT applications.
Based on application, the industrial segment is expected to have the largest market share during the forecast period. This is due to the high demand for IPMs in industrial machinery, including motors and drives. The automotive and aerospace & defense segments are also expected to see significant growth in the coming years, driven by the increasing adoption of IPMs in electric and hybrid vehicles, as well as aerospace applications.
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Some Key Highlights From the Report:
In December 2020, the 1200V transfer molded silicon carbide (SIC) integrated power module was launched by Infineon Technologies AG due to its high efficiency and power density, which are ideal for applications in electric vehicles and renewable energy systems. This launch is expected to drive the growth of the above 1200V segment in the intelligent power module market.
In April 2018, ACEPACK1 and ACEPACK 2 was launched by STMicroelectronics NV due to its ability to provide high power density and efficiency in industrial applications. This launch is expected to drive the growth of the industrial segment in the intelligent power module market.
In May 2017, CIPOS IPM was launched by Infineon Technologies AG due to its high level of integration and reliability, which make it ideal for motor control applications in consumer electronics, industrial machinery, and automotive systems. This launch is expected to drive the growth of the IGBT segment in the intelligent power module market.
Asia Pacific is expected to account for the largest revenue share during the forecast period due to its growing population and increasing demand for energy-efficient products, particularly in countries such as China and India. The rising adoption of electric vehicles and renewable energy systems in the region is also expected to drive the growth of the intelligent power module market.
Major companies operating in Intelligent power module are Mitsubishi Electric Corporation, STMicroelectronics NV, ROHM Semiconductors, (Germany), Sanken Electric Co. Ltd, Texas Instruments Incorporated, ON Semiconductor, Fuji Electric Co. Ltd, Hon Hai Precision Industry Co., Ltd, Infineon Technologies, Central Semiconductor.
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