Intelligent Power Module Market Size

Report ID: GMI4843
   |
Published Date: October 2020
 | 
Report Format: PDF

Download Free PDF

Intelligent Power Module Market Size

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

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.

 

Authors: Suraj Gujar,
Frequently Asked Question(FAQ) :
What are the factors reinforcing Asia Pacific intelligent power module market?
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.
Which application will foster global IPM market trends?
How will the adoption of industrial robots impact intelligent power module industry?
What voltage intelligent power modules have recorded significant demand?
Why is intelligent power module market witnessing robust growth?
Related Reports
    Authors: Suraj Gujar,
    Buy Now
    $4,123 $4,850
    15% off
    $4,840 $6,050
    20% off
    $5,845 $8,350
    30% off
        Buy now
    Premium Report Details

    Base Year: 2019

    Companies covered: 18

    Tables & Figures: 226

    Countries covered: 15

    Pages: 200

    Download Free PDF

    Top