Intelligent Power Module (IPM) Market Share and Forecast 2024-2032

IMARC Group's report titled "Intelligent Power Module (IPM) Market Report by Voltage Rating (Upto 600V, 601V-1200V, More than 1200V), Current Rating (Upto 100A, 101A-600A, Above 600A), Circuit Configuration (6-PAC, 7-PAC, and Others), Power Device (IGBT, MOSFET), Application (Consumer Electronics, Servo Drives, Transportation, Renewable Energy, and Others), and Region 2024-2032". The global intelligent power module (IPM) market size reached US$ 2.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.8 Billion by 2032, exhibiting a growth rate (CAGR) of 6.8% during 2024-2032.

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Factors Affecting the Growth of the Intelligent Power Module Industry:

• Rising Demand for Energy Efficiency:

The growing demand for intelligent power modules (IPMs) due to increasing concerns about energy consumption and environmental sustainability is offering a positive market outlook. IPMs offer advanced power management capabilities and optimize energy usage across various applications. Their ability to minimize power losses and enhance efficiency makes them useful for industries seeking to reduce their carbon footprint and operating costs. IPMs play a crucial role in promoting energy conservation and driving the transition towards a more sustainable future. In addition, companies are increasingly adopting IPMs to maintain sustainability goals.

• Increasing Preferences for Renewable Energy Sources:

The escalating demand for advanced power management solutions to harness and distribute renewable energy efficiently due to rising preferences for renewable energy sources, such as solar and wind power, is propelling the market growth. IPMs facilitate the integration of renewable energy systems by providing precise control and conversion capabilities and optimizing energy production and storage. Their ability to enhance the performance and reliability of renewable energy installations makes them valuable components in the transition towards a more sustainable energy mix.

• Innovations in Power Electronics:

Ongoing advancements in semiconductor technology are leading to improved performance, higher power density, and enhanced reliability of IMPs. Innovations in materials, packaging techniques, and manufacturing processes are enabling the development of more efficient and compact IPMs, meeting the evolving needs of various industries. These technological advancements are driving down costs and expanding the applicability of IPMs across a wide range of applications, ranging from industrial automation to consumer electronics. Furthermore, key manufacturers are leveraging advanced technologies to enhance the capabilities of IPMs in optimizing power management and control systems.

Leading Companies Operating in the Global Intelligent Power Module (IPM) Industry:

• Actylis
• BASF SE
• Clariant AG
• Croda International Plc
• Dow Inc.
• Fenchem
• LG Household & Healthcare Ltd
• Pilot Chemical Corp.
• SEPPIC S.A. (Air Liquide)
• Shanghai Fine Chemical Co. Ltd

Intelligent Power Module Market Report Segmentation:

By Voltage Rating:

• Upto 600V
• 601V-1200V
• More than 1200V

Upto 600V represents the largest segment as it caters to a wide range of industries, such as manufacturing, automotive, and electronics.

By Current Rating:

• Upto 100A
• 101A-600A
• Above 600A

Upto 100A holds the biggest market share on account of its suitability in motor drives, inverters, power supplies, and battery management systems.

By Circuit Configuration:

• 6-PAC
• 7-PAC
• Others

On the basis of the circuit configuration, the market has been divided into 6-PAC, 7-PAC, and others.  

By Power Device:

• IGBT
• MOSFET

IGBT accounts for the largest market share due to its ability to handle high voltages and currents efficiently.  

By Application:

• Consumer Electronics
• Servo Drives
• Transportation
• Renewable Energy
• Others

Consumer electronics exhibit a clear dominance in the market, driven by the rising focus on renewable energy sources.

Regional Insights:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Asia Pacific enjoys a leading position in the intelligent power module market, which can be attributed to the presence of key manufacturing hubs.  

Global Intelligent Power Module Market Trends:

The rising need for efficient power management solutions to support growing energy demands is supporting the market growth. IPMs are integral to industrial infrastructure, offering advanced control and monitoring capabilities for motors, inverters, and power supplies. In urban settings, IPMs play a crucial role in optimizing power distribution systems, ensuring reliability and efficiency.

Furthermore, the increasing adoption of electric and hybrid vehicles among individuals worldwide is catalyzing the demand for efficient power modules for motor control and battery management systems. IPM offers compact and efficient solutions for electric vehicle power electronics.

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