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Europe Intelligent Power Module (IPM) for AWHP Market Size

Report ID: GMI7035
Published Date: Oct 2023
Report Format: PDF

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Europe Intelligent Power Module for AWHP Market Size

Europe Intelligent Power Module for AWHP market was valued at over USD 56 million in 2022 and is anticipated to grow at a CAGR of over 10% between 2023 and 2032. The growing demand for energy-efficient solutions is a significant factor stimulating the market growth.

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As European countries place a greater emphasis on environmental sustainability and severe energy efficiency rules, AWHP systems have emerged as an important component of heating & cooling solutions. IPMs improve the energy efficiency of these systems by optimizing power conversion and control. This not only saves electricity but also complies with the European Union directives aimed at reducing greenhouse gas emissions. As a result, the use of IPMs in AWHPs is expected to increase, making them an important part of Europe's green energy transition and supporting the development of environmentally friendly & energy-efficient heating & cooling technologies.

For instance, in May 2022, Siemens Mobility and Mitsubishi Electric Europe B.V. signed a Memorandum of Understanding (MoU) to cooperate in the field of SiC power module technology for enabling efficient & sustainable transportation and electrical energy savings in the transportation sector.

Europe Intelligent Power Module for AWHP Market Report Attributes
Report Attribute	Details
Base Year:	2022
Europe Intelligent Power Module for AWHP Market Size in 2022:	USD 56.6 Million
Forecast Period:	2022 to 2032
Forecast Period 2022 to 2032 CAGR:	10%
2032 Value Projection:	USD 200 Million
Historical Data for:	2018 - 2022
No. of Pages:	220
Tables, Charts & Figures:	139
Segments covered:	Application & Country
Growth Drivers:	Rising focus of European governments on financial incentives & regulations Increasing demand for energy-efficient solutions Growing need for improving system reliability & performance Surging demand for electric vehicles Growing demand for IPM in the consumer electronics industry
Pitfalls & Challenges:	Design & operational challenges related to next-generation IPMs Slow adoption of novel technologies and the complex design of IPMs

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The slow adoption of novel technologies and the complex design of intelligent power modules (IPMs) pose significant challenges for the Air-to-Water Heat Pump (AWHP) market in Europe. The market's conservative nature and a reluctance to embrace new technologies can hinder the uptake of advanced IPMs. The intricate design of these modules demands specialized knowledge and resources, making them less accessible to smaller manufacturers. This complexity can also lead to longer development cycles and increased production costs.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Europe intelligent power module (IPM) for AWHP industry size exceeded USD 55 million in 2022 and may record over 10% CAGR from 2023 to 2032 owing to the growing demand for energy-efficient solutions worldwide

The outdoor unit application segment held over 25% share of the Europe intelligent power module for AWHP industry in 2022 driven by the strong emphasis on reducing greenhouse gas emissions and promoting environmentally friendly technologies in the region

Italy garnered over 15% share of the intelligent power module for AWHP industry share in 2022 owing to the strong tradition of innovation and manufacturing in the energy and HVAC sectors

Some of the leading IPM for AWHP solution providers in Europe include ABB Ltd., Danfoss A/S, Infineon Technologies AG, Mitsubishi Electric Europe B.V., ONSemi, ROHM Semiconductor GmbH, and STMicroelectronics N.V.