Austin, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Market Size & Growth Analysis:
The SNS Insider report indicates that,“The Intelligent Power Module Market was valued at USD 2.30 Billion in 2023 and is projected to grow at a CAGR of 10.2%, reaching USD 5.49 Billion by 2032.”
Accelerating Growth in Energy-Efficient Power Electronics
The intelligent power module (IPM) market is witnessing robust growth fueled by surging demand for energy-efficient systems, advancements in power electronics, and the transition to renewable energy sources. IPMs are vital in power conversion systems, integrating power switching devices with protection and driving circuits into a compact, efficient package.
Their ability to manage electrical energy conversion effectively makes them indispensable across sectors like automotive, industrial automation, consumer electronics, and renewable energy. For instance, IPMs are critical in electric vehicles (EVs) for functions such as managing AC compressors and oil pumps. Government policies supporting energy efficiency are further accelerating market growth. For example, the European Union’s updated Energy Efficiency Directive targets a 32.5% reduction in energy consumption by 2030, encouraging industries to adopt efficient technologies like IPMs. These factors collectively position IPMs as a cornerstone in modern energy management solutions.
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Dominant Market Players with their Products Listed in this Report are:
- Mitsubishi Electric (Mitsubishi Electric Power Modules, IPM Drivers)
- Onsemi (onsemi IPM Modules, onsemi IPM Gate Drivers)
- Infineon Technologies AG (Infineon CoolSiC™ IPMs, Infineon CoolMOS™ IPMs)
- Fuji Electric Co., Ltd. (Fuji Electric IPM Modules, Fuji Electric IPM Gate Drivers)
- Semikron Danfoss (Semikron SK600 IPM Modules, Semikron SK300 IPM Modules)
- ROHM CO., LTD. (ROHM Power Modules, ROHM Gate Drivers)
- STMicroelectronics (STPower IPM Modules, STMicroelectronics Gate Drivers)
- Alpha and Omega Semiconductor (Alpha and Omega Power Modules, Gate Drivers)
- Sensitron Semiconductor (Sensitron Power Modules, Sensitron Gate Drivers)
- Ideal Power, Inc. (Ideal Power Half Bridge Modules, Ideal Power Full Bridge Modules)
- Cissoid (Cissoid Power Modules, Cissoid Gate Drivers)
- Texas Instruments (Texas Instruments Power Modules, Gate Drivers)
- Vicor Corporation (Vicor Power Modules, Vicor Gate Drivers)
- Powerex, Inc. (Powerex Power Modules, Powerex Gate Drivers)
- Littelfuse (Littelfuse Power Modules, Littelfuse Gate Drivers)
- Diodes Inc (Diodes Incorporated Power Modules, Diodes Incorporated Gate Drivers)
- Vishay Intertechnology (Vishay Power Modules, Vishay Gate Drivers)
- Fairchild Semiconductor (Fairchild Power Modules, Fairchild Gate Drivers)
- Microchip Technology (Microchip Power Modules, Microchip Gate Drivers)
- Renesas Electronics Corporation (Renesas Power Modules, Renesas Gate Drivers).
Rising Adoption of Electric Vehicles (EVs)
The automotive industry's shift towards electrification is a major catalyst for the Intelligent Power Module market. With electric vehicle sales exceeding 14 million units in 2023 and expected to account for 30% of new car sales worldwide by 2030, the need for IPMs is rapidly increasing. IPMs facilitate effective energy management in electric vehicle systems, encompassing battery charging, motor drives, and power distribution. In 2023, China and Europe, crucial markets for electric vehicle adoption, recorded unprecedented sales. The International Energy Agency notes that 95% of electric vehicle sales took place in these areas, propelled by favorable policies and consumer interest. The function of IPMs in enhancing EV performance corresponds with industry demands for greater efficiency and dependability. With the growth of the EV market, funding for IPM technologies is anticipated to increase, rendering them essential for the future of eco-friendly transportation.
“In-Depth Segment Analysis Unveils Key Drivers Shaping the Market's Growth Trajectory”
By Application Type
The Automotive segment led the market in 2023, capturing over 32% of the share and is expected to grow at a CAGR of 11.6%. The shift to hybrid and electric vehicles (HEVs and EVs) drives this growth. For example, IPMs are essential in controlling onboard chargers, AC compressors, and oil pumps in EVs. With EV sales booming, the automotive sector will remain the largest application area for IPMs.
By Voltage Rating Type
The 600 V to 1,199 V segment dominated in 2023, contributing over 47% of the market share. This range is favored for high-end home appliances and industrial drives, with products like Infineon’s TRENCHSTOP IGBT-based IPM leading the market. As industries transition to energy-efficient systems, this segment will maintain its dominance.
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Key Market Segments:
By Power Device Type
- IGBT
- MOSFET
By Voltage Rating Type
- 0 V to 599 V
- 600 V to 1,199 V
- 1,200 V and above
By Application Type
- Automotive
- Industrial
- Consumer Electronics
- Energy & Utility
- IT & Telecommunication
- Others
"Unlocking Regional Opportunities: In-Depth Market Insights and Forecasts"
Asia Pacific region held the largest market share in 2023, accounting for over 37%. China’s dominance in automobile production and renewable energy capacity underpins this growth. For example, Asia produced 7.48 million automotive units in early 2023, fueling demand for IPMs in EVs and hybrid vehicles. Additionally, robust manufacturing in India and Southeast Asia supports the region's leadership in the IPM market.
North America is anticipated to become the fastest-growing region during 2024-2032, due to high technology adoption and semiconductor innovation led by companies like Onsemi and Alpha and Omega Semiconductor. Recent government initiatives to boost semiconductor production, coupled with advanced manufacturing capabilities, are key growth drivers. The region's focus on industrial automation and smart energy solutions will further bolster the IPM market.
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Recent Developments in the Intelligent Power Module Market
- September 2024: Infineon Technologies AG enhanced its 7th generation TRENCHSTOP™ IGBT7 product line with the CIPOS™ Maxi Intelligent Power Module (IPM) series designed for low-power motor control. The latest IM12BxxxC1 series utilizes the advanced TRENCHSTOP IGBT7 1200 V and quick diode EmCon 7 technology.
- June 2024: Texas Instruments (TI) launched the industry's first 650V three-phase GaN Integrated Power Module (IPM) aimed at 250W motor drive uses. This IPM, DRV7308, tackles issues engineers encounter when creating significant home appliances and HVAC systems.
Table of Contents - Key Points Analysis
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Key Vendors and Feature Analysis, 2023
5.2 Performance Benchmarks, 2023
5.3 Integration Capabilities, by Software
5.4 Usage Statistics, 2023
6. Competitive Landscape
7. Intelligent Power Module Market Segmentation, by Power Device Type
8. Intelligent Power Module Market Segmentation, by Voltage Rating Type
9. Intelligent Power Module Market Segmentation, by Application Type
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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