Intelligent Power Module Market Global Trend, Segmentation and Opportunities Forecast to 2026

Intelligent Power Module Market Global Trend, Segmentation and Opportunities Forecast to 2026

The intelligent power module market analysis document represents a detailed collection of prioritized market definitions, industry scope and reach, and pivotal industry insights. Information about the many pitfalls of the market as well as the frequent challenges encountered by core industry players have been summarized in the report. That apart, the document also endorses details about the numerous driving parameters impacting the revenue landscape of this vertical.

The intelligent power module market is forecast to witness significant growth over the coming time period owing to the rising product adoption across a range of applications such as in electric motor drives for aircraft or in power converters. Rising consumer inclination towards the adoption of electric vehicles will further accelerate the market growth in the years to come.

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Presently, novel innovations are expected to gain significant momentum in the intelligent power module market. Key participants in the intelligent power module market landscape are rolling out enhanced versions of intelligent power modules that are suitable to be deployed in an array of applications. Citing an instance, in September 2020, Fuji Electric Corp, a leader in electronic devices, power electronics, energy, social and industrial systems, reportedly announced a novel line-up of smart intelligent power modules based on the company’s 7th generation X-Series IGBT technology.

Fuji Electric is a leading developer of IGBT modules that are presently used in the power electronic systems of today, which includes renewable energy systems, HVAC, uninterruptable power supplies, variable-speed drives, and power converters. The newest IPM modules are equipped with a control IC providing protection circuits and IGBT drive, further ensuring high system reliability, along with making the design of peripheral circuits simpler.

In terms of application, the renewable energy application segment is earmarked to witness remunerative revenue growth. In 2019, the segment accounted for a market share of nearly 15% and is further expected to grow at a CAGR of around 8% through the forecast time period. This anticipated growth is ascribed to the increasing adoption of IPM in solar power plants and photovoltaic systems. Rising government initiatives as well as investments towards the adoption of renewable energy resources will further influence the demand for intelligent power modules. This is likely to offer the segment a number of viable revenue streams, including motor controls, solar power plants, and wind turbines among others.

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On the geographical front, the Europe intelligent power module market held a market share of nearly 20% in 2019 and is slated to grow at a CAGR of around 7% over the forthcoming time period. The regional growth is mainly ascribed to the presence of a well-established EV (electric vehicle) charging station network in Europe. These EV charging stations, and battery-power establishments have a huge demand for IPMs owing to their superior features like conversion of DC/DC for decreasing power losses, precise sensing of power outputs, and fast charging. Thus, the rising penetration of electric vehicle charging stations across Europe is anticipated to drive the market growth over the coming years.

Fuji Electric Co. Ltd., Mitsubishi Electric Corporation, STMicroelectronics N.V., Infineon Technologies AG, and ON Semiconductor Corporation among many others are some of the key players operating in the intelligent power module market.

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