Intelligent Power Module Market Size By Voltage Rating (Up to 600V, 1,200 V, Above 1,200 V), By Current Rating (Up to 20A, 20A - 100A, >100A), By Power Devices (Insulated-Gate Bipolar Transistor (IGBT), Metal Oxide Semiconductor Field Effect Transistor (MOSFET)), By Application (Consumer Electronics, Industrial, Renewable Energy, Automotive), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Oct 2020  |  Report ID: GMI4843  |  Authors: Preeti Wadhwani, Shubhangi Yadav

Report Format: PDF   |   Pages: 200   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Intelligent Power Module Market size exceeded USD 1.5 billion in 2019 and is estimated to grow at a CAGR of over 9% between 2020 and 2026. Rising trends toward renewable energy in power generation have propelled the market demand for intelligent power modules. These power modules help to reduce the cost per watt and optimize power extraction from the solar panels. They have applications in grid tied renewable energy systems and photovoltaic system (PV) for intelligent power control. Market players are continuously engaged in innovating new power modules for solar energy applications to cater to the high demand in the industry. For instance, in June 2020, Trina Solar Co., Ltd. launched an intelligent power module with power output exceeding 500W for solar energy applications.
 

Rising government initiatives regarding the emission control of greenhouse gases, majorly CO2, have further boosted the adoption of renewable energy for electricity generation and energy conversion. According to the Center for Climate and Energy Association, solar generation in the U.S. is expected to climb the renewable generation to 48% by 2050, in comparison with 11% in 2017. This will accelerate the establishment of power conservation plants.
 

Intelligent Power Module Market

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The COVID-19 pandemic has restrained the capability of intelligent power module market participants to develop new products led by supply chain bottleneck and various trade restrictions across the globe. The pandemic outbreak has also resulted in the shutdown of various manufacturing plants that develop automotive & consumer electronics products. The companies in end-user industries have planned to reduce their manufacturing capabilities owing to the declining demand from consumers which will restrain the market growth opportunities. However, post COVID-19 scenario will propel the investments in the automotive sector and renewable energy.
 

Intelligent Power Module Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 1.5 Billion (USD)
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 9% 2026 Value Projection: 2.5 Billion (USD)
Pages: 200 Tables, Charts & Figures: 226
Geographies covered (16): U.S., Canada, UK, Germany, France, Italy, Russia, China, Japan, South Korea, India, Brazil, Mexico, South Africa, GCC
Segments covered: Voltage Rating, Current Rating, Power Devices, Application, Region
Companies covered (18): CISSOID, Fuji Electric Co. Ltd, Future Electronics, Infineon Technologies AG, Microsemi, Mitsubishi Electric Corporation, On Semiconductor Corporation, Powerex Inc., Renesas Electronics Corporation, ROHM Co., Ltd, Sanken Electric Co., Ltd, Semikron, Sensitron Semiconductor, silentknight (Honeywell), STMicroelectronics N.V, Texas Instruments Incorporated, TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, Vincotech GmbH
Growth Drivers:
  • Emphasis towards renewable energy in power generation
  • Rising trends towards electric vehicles around the globe
  • Increasing demand from consumer electronics appliances
  • Growing adoption of industrial robots and automation in factories
Pitfalls & Challenges:
  • Technical challenges associated with new generation IPM

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Rising government initiatives toward energy-efficient electronics products will influence the demand for 600V intelligent power modules

The up to 600 V segment dominated intelligent power module market share exceeding 50% in 2019 and is anticipated to witness 10% growth rate through 2026. 600 V IPM offers high energy efficiency and performance capability for motor drives. In March 2019, Infineon announced the development of its new family of 600 V intelligent power module “CIPOS Micro IM231 series”. It offers fault reporting and improved efficiency for motor drive applications in power appliances such as washing machines, refrigerators, and air conditioning fans.
 

The intelligent power module market growth is majorly attributed to the increasing adoption of 600 V power modules in motor control applications to deliver high energy efficiency and reduce carbon emissions. Growing government initiatives towards environment-friendly and energy-efficient electronics systems will spur the market opportunities for low-voltage intelligent power modules.
 

Increasing adoption of industrial robots will fuel the >100 A power module market

Intelligent Power Module Market Size

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The >100 A current rating segment captured above 5% intelligent power module market revenue share in 2019 and is predicted to expand at 6% CAGR till 2026 led by rising adoption of industrial robots in the manufacturing sector. These power modules with high current rating aid in delivering compact size and reduce the power loss from convertors and motor drives used in industrial robots and machinery.
 

The proliferation of industrial automation and robots in the industrial sector to achieve high productivity will accelerate the demand for high current rating intelligent power modules. According to the International Federation of Robotics (IFR), around 2 million new industrial robots will be installed in factories from 2020 to 2022. To cater to the high demand in the industry, the companies are continuously innovating new products.
 

Technology innovation in Insulated-Gate Bipolar Transistor (IGBT) will augment the IPM market value

IGBT segment is projected to attain a CAGR of more than 9% during 2020 to 2026 impelled by increasing technology innovations in the IGBT devices to achieve low noise and reduce power consumption for various consumer electronics and industrial motors. In September 2020, Fuji Electric Corp., announced the launch of its new intelligent power module based on 7th generation X series IGBT module for various power electronics systems such as variable speed drives, power convertor, and HVAC, among others owing to the growing demand from the industrial sector in India and Thailand.
 

Growing adoption of intelligent power module in smart home appliances

Intelligent Power Module Market Share

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The consumer electronics segment accounted for 35% of the intelligent power module market share in 2019 and will showcase growth of 10% by 2026 on due to the rising adoption of smart home devices in developing nations. These power modules are adopted in various smart electronic devices such as air conditioners, dishwashers, washing machines, refrigerators, etc., to remotely control the power outlet and prevent from power consumption and electrocutions.
 

Intelligent power modules also help device manufacturers to achieve optimized systems cost and deliver high efficiency and low-noise features in smart home equipment. This will increase their adoption in consumer appliances.
 

Rising government initiative in South Korea towards adoption of electric vehicles will propel the market expansion

Asia Pacific Intelligent Power Module Market

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The Asia Pacific intelligent power module market held over 35% of revenue share in 2019 and is poised to observe 10% CAGR from 2020 to 2026. Rising adoption of electric vehicles in China, India, South Korea is creating high growth opportunities. Moreover, increasing initiatives by the government such as offering subsidies for the purchase of electric vehicle will further accelerate the market revenue. According to the South Korea Environment Ministry, consumers will be able to receive government subsidies of around USD 15,000 each for the payment of electric vehicle purchase in 2020.
 

Focus on new product launches to stay competitive in the market

Major participants operating in the intelligent power module market are Infineon Technologies AG, ON Semiconductor Corporation, Fuji Electric Co. Ltd., Mitsubishi Electric Corporation, ROHM Co., Ltd., and Sanken Electric Co., Ltd., among others. Market players are extensively focusing on research & development activities to provide technically advanced products than their competitors.
 

The market research report on intelligent power module includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2026 for the following segments:

Market, By Voltage Rating

  • Up to 600 V
  • 1,200 V
  • Above 1,200 V

Market, By Current Rating

  • Up to 20A
  • 20 A- 100 A
  • >100 A

Market, By Power Devices

  • IGBT (Insulated-Gate Bipolar Transistor)
  • MOSFET (Metal Oxide Semiconductor Field Effect Transistor)

Market, By Application

  • Consumer electronics
  • Industrial
  • Renewable energy
  • Automotive

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • South Africa
    • GCC
       

Frequently Asked Questions (FAQ) :

Global market for intelligent power modules is expected to record over 9% CAGR through 2026 with increased investments in renewables and the need for optimizing power extraction from solar panels.
Intelligent power modules up to 600V accounted for nearly 50% of the global share in 2019, owing to their high performance ability and enhanced energy efficiency provided for motor drive applications.
The demand for intelligent power module having >100 A current rating will register 6% CAGR up to 2026 due to the increased use of industrial robots where the components provide reduced power loss.
The market share from consumer electronics applications will witness nearly 10% CAGR through 2026 owing to a significant demand across smart home devices like refrigerators, ACs and washing machines.
APAC market for intelligent power modules will achieve a strong 10% CAGR up to 2026, with a gradual rise in the adoption of electric vehicles and government initiatives to boost EV production.

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Premium Report Details

  • Published Date: Oct 2020
  • Pages: 200
  • Tables: 201
  • Charts / Figures: 25
  • Companies covered: 18
  • Countries covered: 16

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