Intelligent Power Module Market

Intelligent Power Module Market Outlook

The global Intelligent Power Module Market is anticipated to generate revenues of USD 1,603.7 million in 2023. Demand for intelligent power modules is projected to develop at a CAGR of 11.8% and reach USD 4,907.3 million by 2033.

The automobile sector is undergoing unheard-of transformations on a worldwide scale. The sector has to improve its environmental effect immediately. Start/stop technology is one way that car power trains are becoming electrified. By doing this, the complete battery electric car market is able to move closer to the goal of true sustainability.

The foundation of the low-pollution automobile industry is electric cars, which drastically lower their carbon dioxide content and partially offset the greenhouse impact. This in turn increases the adoption of an intelligent power module.

A multinational organization called SAE International has developed a number of vehicle electrification standards that are used to create effective and safe electric automobiles. To achieve various safety requirements for communication networks, storage batteries, and power generation, isolation is essential.

Emerging Trends in the Intelligent Power Module Sector

• Increasing demand for renewable energy generation propelling the intelligent power module industry. OEMs focus on providing innovative and effective energy and power monitoring modules.
• Demand for IPMs is soaring in the automotive, industrial, and consumer electronics verticals.
• The personal computing industry's trends-such as lower system sizes and the requirement to support sophisticated applications-are anticipated to foster the market's expansion. This is because they reduce the number of components that must be acquired, stored, and assembled.
• Intelligent power modules are widely used in oil pumps, onboard charging units, AC compressors, and other components in clean energy vehicles like hybrid plug-in electric vehicles, EVs, and alternative fuel vehicles.
  • These are being adopted as part of various government programs globally aimed at lowering carbon dioxide emissions and protecting the environment.
  • As a result, it is anticipated that the rise of the EV market is expected to assist the growth of the global industry.

Challenges Blocking the Revenue in the Intelligent Power Module Industry

Intelligent power module manufacturers must adapt to new trends and technologies to keep up with the IPM market's quick development. Although engineers are drawn to new technology and its benefits, establishing a control structure is challenging.

The market consequently adopts new technologies at a somewhat slow rate, which is likely to limit the technology growth. Many functionalities are combined onto a single chip by businesses in the global industry, which results in intricate designs.

The design and integration of complex devices require specialist knowledge, dependable processes, and pricey toolkits, which drive up the cost of the devices. The move to more costly, high-tech devices is predicted to be hampered by these devices' high prices.

Report Attributes	Details
Intelligent Power Module Market CAGR (2023 to 2033)	11.8%
Intelligent Power Module Market Size (2023)	USD 1,603.7 million
Intelligent Power Module Market Size (2033)	USD 4,907.3 million

Intelligent Power Module Industry Analysis: Historical Expansion vs. Future Growth Demand Analysis (2018 to 2022)

From 2018 to 2022, the industry had a CAGR of 9.7%, which is expected to develop at an 11.8% CAGR during the forecast period. The market's value increased, going from USD 1,003.1 million in 2018 to USD 1,455.3 million in 2022 as it expanded.

Due to the high levels of carbon emissions and adverse effects on the environment, the automobile industry has come under heavy fire, especially in the last ten years.

Also, since oil and other fossil fuels were the main sources of energy used by cars, it was up to the industry to find more environmentally friendly substitutes. As a result, demand for intelligent power modules increased during this time.

Future Scope (2023 to 2033)

During the forecast period, the market is expected to have an incremental opportunity of USD 3,3303.6 million. This is due to a number of technical developments, including the creation of creative systems coupled with artificial AI systems that serve as additional growth-inducing variables.

These systems provide real-time network modeling and performance analysis. Given the coordinated control this system offers across big electrical power networks, intelligent power module popularity is reaching new heights.

Regional Analysis

• With a market share of 24.4% in 2022, North America was rapidly growing. This is due to end-user industries' extensive use of renewable energy.
• In Europe, hybrid and all-electric vehicles are gaining popularity on a global scale. In 2022, the intelligent power module sector in Europe reached 17.7%.The Asia Pacific market is expected to lead the market during the forecast period, owing to rapid industrialization.

Countries	Market Share (2022)
United States	19.2%
Germany	7.6%
Japan	5.4%
Australia	3.1%

Auto Parts Manufacturers Lead the Intelligent Power Module in the United States Market

The United States is one of the top automotive markets in the world due to the presence of key multinational vehicle and auto part manufacturers, including Ford, Fiat Chrysler Automobiles, General Motors, and Tesla.

As the adoption rates of electric and hybrid cars increase in the United States region, the sales of intelligent power modules are also significantly increasing.
According to estimates from the United States Department of Energy, sales of new light-duty plug-in electric cars increased by roughly two-thirds, from 308,000 in 2020 to 608,000 in 2021. Also, EV sales accounted for roughly 73% of all plug-in electric car sales in that year.

Intelligent Power Module Adoption in the United Kingdom Surges with Rising Applications

During the forecast period, the United Kingdom is likely to hold a market CAGR of 23.8%. The development of intelligent power modules that are specifically used in automotive applications is a priority for industry participants in the United Kingdom. Also, intelligent power module producers are now investing resources. This is done to:

• Reduce system costs
• Increase power density
• Boost power efficiency
• Increase mileage
• Boost battery efficiency.

The deployment of intelligent power materials in the development of electric vehicles is anticipated to increase at a rapid rate during the forecast period. Furthermore, it is projected that the most common uses for intelligent power modules continue to be servo drives and residential appliances.

India and China Market Depends on Emerging Technologies

Countries	Market CAGR (2023 to 2033)
India	25.2%
China	20.8%

• As the industry in India is expanding with cutting-edge new techniques and technologies, it is expected that the country's GDP is likely to grow at a pace of 15.6% by 2033.
• Semiconductor firms strategically direct the short-term, medium-term, and long-term phases of business development.
  • For the immediate term, the firms are focusing on solar energy, utility solar, and traction.
  • They focus their best efforts on creating electric vehicle chargers and traction designs in the medium future.
  • They are also pushing the space for optical devices, high frequency (HF), and high voltage direct current, in addition to the aforementioned segment.
• Due to the existence of important enterprises and extensive production, China's semiconductor sector is predicted to develop at a pace of 13.04% CAGR by 2033. This makes it one of the leading regions in the global market.
• As the market for automotive IGBTs contracts, Chinese car suppliers and original equipment manufacturers are pushed to start manufacturing intelligent power modules.
• SiC, a ground-breaking material for EV power modules, is also being employed by Chinese EV firms as a result of the increasing demand for SiC MOSFET modules in Tesla's EVs.

Category Analysis

Which are the Leading Segments in the Market?

Based on Type:

Over the anticipated period, the IGBT category dominated the market share. Semiconductor Corporation, Fuji Electric Co, Mitsubishi Electric Corporation, and Infineon Technologies AG are some of the companies that make these IPMs.

IGBT 600V intelligent power modules offer benefits including cost savings from smaller PCB footprints, which adds to the popularity of the IGBT segment.

Based on Applications:

Throughout the predicted period, the intelligent power module market share is likely to grow faster in the consumer electronics sector. As the use of consumer electronics devices increases, it is projected that the need for power electronics devices in power management applications is likely to rise.

Competitive Landscape

Intelligent Power Module Manufacturers Focus on Eco-friendly Solutions to Hold a Substantial Share in the Market

Key players in the intelligent power module market are expected to introduce new products that meet the requirements of the contemporary industrial sector. Leading industry participants are releasing updated versions of intelligent power modules, which are anticipated to be employed in a number of applications.

Together with the advent of new power semiconductor technologies, stakeholders are focusing on the intelligent power module design aspects. Another significant driver propelling the market is the industrial sector's ongoing technological adoption.

The automotive sector offers tremendous potential to intelligent power module companies. They primarily focus on reducing carbon impact and sustainable solutions.

Recent development:

• Sensitron releases the SPG025N035P1B GaN Half Bridge Intelligent Power Module (IPM) module in May 2022. This module uses the 350 V EPC2050 eGaN FET from Efficient Power Conversion.
  • By substituting standard silicon FETs with EPC's 350 V and EPC2050 GaN FET and enhancing the module's already exceptional junction-to-case heat conduction, Sensitron was able to shrink the size of their solution by 60%.
• A Memorandum of Understanding (MoU) for cooperation in the field of SiC power module technology was signed in May 2022 by Siemens Mobility and Mitsubishi Electric Europe B.V. Projects define effective and environmentally friendly transportation, as well as electrical energy savings in the transportation sector.
• The lowest on-resistance RDS 3.3 kV SiC MOSFETs in the business and the leading current-rated SiC SBDs on the market were released by Microchip Technology Inc. in March 2022.
  • This allows designers to benefit from ruggedness, dependability, and performance.
  • Designers now have the means to create more compact, lighter, and more effective solutions for electric transportation, aerospace, renewable energy, and industrial applications due to Microchip's extension of its SiC portfolio.
• A 1,200 V transfer molded silicon carbide (SiC) integrated power module was announced by Infineon Technologies AG in December 2020.
  • The CIPOS Maxi IPM IM828 series is the first item of its kind for this voltage class.
  • For variable-speed drive applications employing three-phase AC motors and permanent magnet motors with excellent thermal conduction and a broad range of switching speeds, the series provides a tiny inverter solution.
  • Active filters for HVAC systems, industrial motor drives, pump drives, and pump drives are a few examples of these.

Key Players

• Mitsubishi Electric Corp.
• Infineon Technologies AG
• Semikron Elektronik GmbH & Co. KG
• Fuji Electric Co. Ltd
• Future Electronics Inc.
• Vincotech GmbH
• ROHM Co. Ltd
• STMicroelectronics NV
• Powerex Inc
• Fairchild Semiconductors (ON Semiconductor)

Key Segments

By Type:

• IGBT
• MOSFET

By Application:

• Consumer Electronics
• Servo Drives
• Transportation
• Renewable Energy
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa (MEA)

Frequently Asked Questions

How big is the Intelligent Power Module market?

The market is predicted to reach USD 1,603.7 million in 2023.

How did the market perform historically?

The market registered a USD 1,455.3 million value in 2022.

What drives the Module market?

Consumer electronics and auto industries will drive the market.

What is the expected CAGR in India?

A CAGR of 25.2% is projected for India by 2033.

Who are the major players in the market?

Mitsubishi Electric Corp and Powerex Inc are major players.