Intelligent Power Module Market is Expected to Reach US$ 5 Bn by 2031

Sustainability Market Research. The overall market is expected to reach $5 billion by 2031, growing at a CAGR of 11.8% . Among available power devices, MOSFET-based intelligent power modules hold the largest market share and demand for them is expected to accelerate at a CAGR of 12.4% through 2031 .

How will the surge in power generation demand for intelligent power modules increase?

IPM adoption in the renewable energy sector is growing significantly in applications such as offshore wind turbine inverters, onshore wind turbine inverters, micro inverters and solar inverters. Solar and wind energy are expected to meet one-third of global electricity demand by 2040.

This will have a significant impact on the market as key components of these power architectures are shaped by IPMs. Many countries generate electricity from wind power and due to these factors, the IPM market is expected to experience significant growth. There are good investment opportunities for governments to generate electricity using renewable resources, which will help the market spread.

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What are the factors driving the adoption of intelligent power modules?

Growing adoption of electric and hybrid vehicles in developed countries such as North America and Europe has significantly increased the demand for intelligent power modules. In 2019, the United States was the third largest electric vehicle market with over 300,000 new sales, followed by China and Europe.

Since reliability and durability are critical factors in hybrid electric vehicle (HEV) applications, intelligent power modules with high power ratings (10-100 kW peak) are meeting these requirements. There is high growth potential for hybrid and electric vehicles, which will drive the adoption of intelligent power modules in the coming years.

Competitive Landscape

Key vendors operating in the market continue to focus on evolving their existing product and service portfolios. Companies are launching industry-specific solutions to meet consumer needs.

Mitsubishi Electric Corporation announced the release of the industrial T-Series 2.0kV Insulated Gate Bipolar Transistor (IGBT) Module, the world's first IGBT1 with 2.0kV breakdown voltage. These modules are ideal for increasing efficiency and reducing the size of renewable energy power converters.
STMicroelectronics and Sanken Electric have teamed up to develop intelligent power modules for high-voltage industrial and automotive products. Through this collaboration, the two companies aim to bring new high-voltage, high-power IPMs to the industrial and automotive markets.

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Market Segmentation Based on Intelligent Power Module Industry Research

voltage rating

Up to 600V intelligent power module
650V intelligent power module
1200V intelligent power module
power unit

IGBT-based intelligent power module
MOSFET-based intelligent power module
application

Intelligent Power Modules for Home Appliances
Intelligent Power Modules for Automotive
Industrial intelligent power module
Intelligent Power Modules for Renewable Energy
Etc

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