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
The intelligent power module market is likely to register lucrative growth over the coming years owing to rising consumer inclination towards the adoption of electric vehicles, and rising government efforts to establish manufacturing sector. Additionally, high product adoption across numerous application avenues such as automotive, industrial, consumer electronics, and aerospace & defense among many others would also fuel the industry outlook. Power modules are considered essential building blocks in motor control and power conversion applications having power ratings of nearly 100 W to 100 kW.
Intelligent power modules are known as advanced power switch devices that are incorporated with control, detection, logic, and protection circuits for easy use. These power modules not only decrease system size and development time, but also considerably improve system reliability, in compliance with the development of today’s power devices such as PICs (power integrated circuits), composite, and modular.
Today, there a numerous product among household appliances which need an inbuilt motor drive feature, like air conditioners, washing machines, fans, and refrigerators. When these household devices are combined with IPM (intelligent power modules), both product stability as well as motor efficiency could be improved.
At present, new innovations are expected to gain significant momentum in the intelligent power module market. Several prominent firms that are active in the industry have increasingly been focusing on improving their market position using different strategies, including new product launches. Citing an instance, in May 2020, Cissoid, a renowned leader in high-temperature semiconductors, reportedly launched a novel 3-Phase SiC MOSFET IPM platform for E-mobility.
This novel intelligent power module technology provides the automotive market a complete solution including a water cooled three-phase SiC MOSFET module with in-built gate drivers.
The intelligent power module market is bifurcated in terms of voltage rating, current rating, power devices, application, and regional landscape.
In terms of application, the overall intelligent power module market is classified into automotive, renewable energy, aerospace & defense, industrial, and consumer electronics. Among these, automotive application segment will witness tremendous growth over the coming years. The segment, in 2019, held a market share of nearly 15% due to rising consumer inclination towards the adoption of electric vehicles.
Additionally, demand for intelligent power modules utilizing 80 V and 40 V MOSFETs is growing rapidly across automotive applications for driving electric fans and pumps, which would also outline a remunerative growth outlook for the market.
From a regional frame of reference, Latin America intelligent power module market is expected to register momentous gains over the coming time period. The region, in 2019, held a market share of nearly 5% owing to rising government efforts to establish a robust manufacturing sector across the region.
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