Global Intelligent Power Module Market Size, Share & Industry Trends Analysis Report By Voltage (Up To 600V, 601V - 1,200V and Above 1,200V), By Circuit Configuration, By Vertical, By Current Rating, By Power Device, By Regional Outlook and Forecast, 202

Global Intelligent Power Module Market Size, Share & Industry Trends Analysis Report By Voltage (Up To 600V, 601V - 1,200V and Above 1,200V), By Circuit Configuration, By Vertical, By Current Rating, By Power Device, By Regional Outlook and Forecast, 2022 - 2028

The Global Intelligent Power Module Market size is expected to reach $2.5 billion by 2028, rising at a market growth of 8.4% CAGR during the forecast period.

Intelligent power modules (IPMs) are hybrid power devices that combine a high-speed, low-loss insulated-gate bipolar transistor (IGBT) with an improved protection circuit and gate drive. IPMs use IGBT semiconductors with high tech current sensing to provide extremely effective short-circuit or over-protection. This makes it possible to keep an eye on the current going through the power device.

In addition, IPM's integrated under-voltage or over-lockout protection strengthens the system's dependability. Lastly, the automatically built intelligent power modules are intended to minimize time to market, cost, and system size. Intelligent power modules, or IPM modules, are utilized in electrical equipment and the technology sector for the primary purposes of power control and power conservation. Concerns about global warming are anticipated to increase the significance of this issue during the predicted period.

Worldwide, machines are so adaptable, compact, and effective at what they are designed to perform that they have supplanted humans in many manual tasks. In recent years, the demand for machinery and electronic equipment has expanded dramatically, and it is anticipated that this trend will continue or possibly accelerate in the years to come. Furthermore, automation modernization in various industries, particularly process automation and control automation equipment, is also anticipated to boost the intelligent power module market.

COVID-19 Impact Analysis

The spread of the pandemic has affected the worldwide supply chain, resulting in a substantial supply chain deficit. Due to a shortage of raw materials, key participants in the intelligent power module market experienced a temporary slowdown, resulting in a revenue decline for the fiscal year 2020-2021. Yet, the market is anticipated to recover and remain in the growth phase during the forecasted period. In an effort to mitigate the negative effects of covid-19, the key companies in the intelligent power module market have reduced their R&D resources and shifted their attention to next-generation technologies.

Market Growth Factors

Growing demand for EVs globally

Increasing production and sales of plug-in electric vehicles (PEVs) are anticipated to generate tremendous opportunities for the power electronics industry in the transportation application segment. In addition, the growing number of charging stations is driving the demand for power electronic components like intelligent power modules (IPMs), insulated gate bipolar transistors (IGBT), power management integrated circuits (PMICs), and standard & power integrated modules. In light of these factors, the intelligent power module market is estimated to grow with the surging demand and manufacturing of EVs worldwide.

Rising acceptance of GaN & SiC materials in automotive & power semiconductor uses

The most significant benefit of SiC is its dramatically increased efficiency. In addition to its near-immediate adoption in energy-focused businesses, such as electric vehicles and solar energy, SiC boosts the efficiency of electronics among industries and contributes to the global reduction of carbon footprint. SiC is used in photovoltaics, uninterruptible power supplies, motor drives, and power supplies. The increased adoption of GaN & SiC materials in several applications is predicted to contribute to the market expansion significantly.

Market Restraining Factors

Slower adoption of new technologies and complex structure of IPMs may hinder growth

The businesses active in the intelligent power modules market are primarily concerned with integrating many features onto a single chip, which results in an intricate design. The designing & integration of complex devices calls for specialized skill sets, well-tested methodologies, and tool sets, all of which contribute to a rise in the devices' overall cost. It is anticipated that the high price of the devices would slow the transition toward more modern technical devices, which in turn is anticipated to constrain the growth of the intelligent power module market.

Voltage Outlook

By voltage, the intelligent power module market is segmented into up to 600V, 601V to 1200V, and above 1200V. In 2021, the 600 V segment dominated the intelligent power module market with maximum revenue share. IPMs with voltage ratings up to 600 V have certain benefits, including a quicker time to market, greater dependability, and less expensive & smaller systems. IGBTs and high-voltage MOSFETs that are reliable and efficient are used in IPMs with voltage ratings up to 600 V that are designed specifically for variable frequency drives.

Current Rating Outlook

Based on current rating, the intelligent power module market is bifurcated into up to 100A, 101A to 600A, and above 600A. The 101A to 600A segment recorded a remarkable revenue share in the intelligent power module market in 2021. The power modules within 101A to 600A current rating held in achieving compact dimensions and minimizing power loss in industrial robots, machinery's converters and motor drives. Intelligent power modules with a high current rating will be in great demand due to the growth of industrial automation and robotics in the industrial sector to obtain higher productivity. As a result, the market will witness significant growth in this segment.

Circuit Configuration Outlook

On the basis of circuit configuration, the intelligent power module market is fragmented into 6-Pack, 7-Pack, bridge, and others. The bridge segment garnered a significant revenue share in the intelligent power module market in 2021. A bridge circuit is an electrical circuitry where two circuit branches, typically parallel, are "bridged" by a third branch connected to the first two branches somewhere in between. One of the intermediary bridging points is frequently modifiable when used in this way because the bridge was initially designed for laboratory measuring reasons. Nowadays, bridge circuits are used in a wide range of linear and non-linear processes, including filtering, power conversion, and instrumentation.

Power Devices Outlook

By power devices, the intelligent power module market is divided into insulated-gate bipolar transistor (IGBT), metal-oxide-semiconductor field-effect transistor (MOSFET), and others. The insulated-gate bipolar transistor (IGBT) segment registered the maximum revenue share in the intelligent power module market in 2021. The IGBT-based intelligent power module contains a control IC with an IGBT drive circuit & protection circuit to maintain high system dependability and facilitate peripheral circuit design.

Vertical Outlook

Based on vertical, the intelligent power module market is classified into consumer electronics, industrial, transportation, IT & telecom, and others. In 2021, the industrial segment witnessed the highest revenue share in the intelligent power module market. These modules are commonly employed for motor control applications, rectification procedures, invertor techniques, MOSFET (Metal–Oxide–Semiconductor Field-Effect Transistor), and IGBT switches. Expanding industrialization and rising IPM use in various industrial applications are one of the primary drivers driving market expansion.

Regional Outlook

Region wise, the intelligent power module market is analyzed across North America, Europe, Asia Pacific and LAMEA. The Asia Pacific region led the intelligent power module market by generating the largest revenue share in 2021. The consumer electronics and automotive industries are expanding quickly in China, which is projected to raise demand for intelligent power modules. This expansion is being fueled by rapid infrastructural development and industrialization. In addition, more industrial activity has been seen as a result of governments emphasizing producing power from renewable sources.

The major strategies followed by the market participants are Expansions. Based on the Analysis presented in the Cardinal matrix; Texas Instruments, Inc. is the forerunner in the Intelligent Power Module Market. Companies such as Infineon Technologies AG, STMicroelectronics N.V., and Mitsubishi Electric Corporation are some of the key innovators in Intelligent Power Module Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mitsubishi Electric Corporation, Fuji Electric Co., Ltd., Infineon Technologies AG, Rohm Co., Ltd., STMicroelectronics N.V., Microchip Technology Incorporated, Texas Instruments, Inc., Toshiba Electronic Devices & Storage Corporation (Toshiba Corporation), Renesas Electronics Corporation and ON Semiconductor Corporation.

Recent Strategies Deployed in Intelligent Power Module Market

Partnerships, Collaborations and Agreements:

Jul-2022: ROHM collaborated with SEMIKRON. The collaboration focuses on implementing silicon carbide inside power modules intended to use in automotive applications.

Jun-2022: Toshiba came into partnership with Farnell, an international distributor of electronic components. Through this partnership, Toshiba intends to reinforce its supply chain functions. The partnership agreement would further support Toshiba's customer supply chain, as Farnell would stock more of its products.

Jun-2021: STMicroelectronics came into partnership with Renault Group, a France-based automobile manufacturer. The partnership focuses on designing, producing, and supplying STM's products and solutions intended for the power electronics systems of battery-operated hybrid vehicles of the Renault Group. The partnership would benefit STM through guaranteed large consumption of power module transistors by Renault.

Oct-2020: STMicroelectronics partnered with Sanken, a Japan-based manufacturer and marketer of electric equipment and apparatuses. The partnership involves developing intelligent power modules intended for high-voltage industrial and automotive products. Moreover, the partnership includes, together manufacturing and selling 650V/50A and 1200V/10A industrial modules. The partnership further expands STMicroelectronics' STPOWER SLLIMM portfolio.

Geographical Expansions:

Mar-2023: Mitsubishi Electric expanded its footprint by setting up a new wafer facility, with the aim to enhance the silicon carbide (SiC) power semiconductor business. The expansion of the new plant includes manufacturing 8-inch SiC wafers and improving 6-inch wagers production.

Oct-2022: Infineon established a new facility in Cegléd, Hungary, fully committed to testing and assembly of high-power semiconductor modules. The new facility enables the company to cater to the evolving demands for electromobility applications.

May-2022: Texas Instruments commenced a new manufacturing plant in Texas, United States of America. The 300-mm semiconductor wafer fabrication facility's advanced 300-mm instruments and operations would reduce water, waste, and energy consumption.

Feb-2022: Infineon Technologies expanded its already manufacturing facility in Kulim, Malaysia. The expansion includes adding manufacturing capacities in the wide bandgap semiconductors domain. The expansion of the facility located in Malaysia perfectly complements the company's market position and presence, and further prepares the company for the advancing wide bandgap markets.

Acquisitions and Mergers:

Nov-2021: onsemi completed the acquisition of GT Advanced Technologies (GTAT), a US-based technology company. The addition of GTAT improves the acquiring company's potential to secure and increase the supply of silicon carbide (SiC) and further enables onsemi to deliver end-to-end power solutions.

Apr-2020: Infineon Technologies took over Cypress Semiconductor, a US-based manufacturer of semiconductor products. The addition of Cypress is a major step in the company's strategic development. Further, the acquisition reinforces the acquiring company's focus on growth drivers.

Product Launches and Expansions:

Jan-2023: Renesas unveiled RAJ2810024H12HPD, an automotive intelligent power device. The new product is designed to securely distribute power within vehicles. The intelligent power device takes less mounting area compared to the conventional device and has the ability to recognize abnormal currents even at low loads, thereby enabling engineers to develop and build safe and accurate power control systems.

Jul-2022: Mitsubishi Electric introduced RF high-power MOSFET (RA50H7687M1) intended for use in high-frequency power amplifiers. The module delivers power output ranging, 763MHz to 870MHz band. Additionally, the new product would broaden the communication range and reduce energy consumption.

Aug-2021: Microchip launched a range of SiC-based power modules intended for aircraft electrical systems. The new modules, BL1, BL2, and BL3 use a blend of 1200V silicon carbide (SiC) MOSFETs and 1600V diodes, developed specifically for harsh aviation environments. The power modules are available in various output options, 75A, 145A, 50A, and 90A, topology options, full bridge, phase leg, asymmetric bridge, dual common source, etc.

Scope of the Study

Market Segments covered in the Report:

By Voltage

• Up To 600V
• 601V - 1,200V
• Above 1,200V

By Circuit Configuration

• 6-Pack
• Bridge
• 7-Pack
• Others

By Vertical

• Industrial
• Consumer Electronics
• Transportation
• IT & Telecommunications
• Others

By Current Rating

• Up to 100A
• 101A to 600A
• Above 600A

By Power Device

• Insulated-Gate Bipolar Transistor (IGBT)
• Metal-Oxide-Semiconductor Field-Effect Transistor (MOSFET)
• Others

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled

• Mitsubishi Electric Corporation
• Fuji Electric Co., Ltd.
• Infineon Technologies AG
• Rohm Co., Ltd.
• STMicroelectronics N.V.
• Microchip Technology Incorporated
• Texas Instruments, Inc.
• Toshiba Electronic Devices & Storage Corporation (Toshiba Corporation)
• Renesas Electronics Corporation
• ON Semiconductor Corporation

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