According to the new market research report "Intelligent Power Module Market With COVID-19 Impact Analysis by Voltage Rating, Current Rating, Circuit Configuration, Power Devices (IGBT & MOSFET), Vertical (Consumer Electronics, Industrial, Automotive), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the market was valued at USD 1.5 billion in 2020 and is projected to reach USD 2.4 billion by 2025. It is expected to grow at a CAGR of 9.6% during the forecast period. Rising focus towards renewable power sources, growing adoption of electric vehicles, and increasing reliability through an enhanced level of monitoring are the key driving factors for the intelligent power module market.

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IGBT to account for the largest share of the intelligent power module market

IGBT-based IPMs combine the advantages of the low-loss high-speed IGBTs with protection circuitry and optimized gate drive. The switching time of IGBT IPM is faster than bipolar transistors but slower than that of MOSFETs. These IPMs continuously monitor the power device current by using IGBT chips with advanced current sensing capabilities. The gate(base) drive circuit is relatively simple. The modules also provide under-voltage lockout protection and over-temperature protection. IGBT-based IPM modules are available in the market across all the current and voltage rating categories. Manufactured by all the key players in the market, IGBT-based IPMs have seen continuous improvement in packaging, power chip, and control chip technology. IPMs using 600 V IGBTs are used in consumer and industrial applications for driving fans, pumps, and compressors

Industrial vertical accounted for the largest share of the intelligent power module market in 2019

The industrial vertical comprises of industrial manufacturing, process industries, and power & energy generation. Industrial devices, such as pumps, conveyors, compressors, cranes, winders, extruders, and rollers, use powered modules for controlling and protection of circuitry. Processes such as electroplating, electrolysis, welding, lighting, induction heating, and other industrial operations utilize power modules to use electric power efficiently and safely. The ease of manufacturing has also led to the availability of these devices in a vast range of ratings as well as in high voltage. Almost all the motors employed in the industries are controlled by IPMs, for example, rolling mills, textile mills, cement mills, compressors, pumps, fans, blowers, elevators, rotary kilns, etc.

Browse in-depth TOC on "Intelligent Power Module Market"
96 – Tables
64 – Figures
171 – Pages

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Asia Pacific to account for the largest share of the intelligent power module market by 2025

Many economically advanced countries have their manufacturing units in the developing economies of APAC, especially in China and India. The domestic markets in APAC are growing rapidly, owing to the rising per capita income of the middle-class population. APAC is the fastest-growing market for IPM, with three of the top 10 largest economies in the world–China, India, and Japan. This market presents a huge potential for the growth of IPMs in the near future. Greenfield projects related to energy generation from renewable sources are expected to provide a boost for the IPM market for the industrial vertical. Furthermore, the region is a manufacturing hub of consumer electronics products; therefore, IPMs have a large application in the consumer vertical in the region.

A few of the key players in the intelligent power module market are Mitsubhishi Electric (Japan), Infineon Technologies (Germany), ON Semiconsuctor (US), Fuji Electric (Japan), STMicroelectronics (Switzerland), Semikron (Germany), ROHM Semiconductor (Japan), Sanken Electric (Japan), Future Electronics (Canada), and Maxim Integrated (US).