Intelligent Power Module Market Analysis

Intelligent Power Module Market Analysis

The up to 600 V segment dominated intelligent power module market share exceeding 50% in 2019 and is anticipated to witness 10% growth rate through 2026. 600 V IPM offers high energy efficiency and performance capability for motor drives. In March 2019, Infineon announced the development of its new family of 600 V intelligent power module “CIPOS Micro IM231 series”. It offers fault reporting and improved efficiency for motor drive applications in power appliances such as washing machines, refrigerators, and air conditioning fans.

The intelligent power module market growth is majorly attributed to the increasing adoption of 600 V power modules in motor control applications to deliver high energy efficiency and reduce carbon emissions. Growing government initiatives towards environment-friendly and energy-efficient electronics systems will spur the market opportunities for low-voltage intelligent power modules.

The >100 A current rating segment captured above 5% intelligent power module market revenue share in 2019 and is predicted to expand at 6% CAGR till 2026 led by rising adoption of industrial robots in the manufacturing sector. These power modules with high current rating aid in delivering compact size and reduce the power loss from convertors and motor drives used in industrial robots and machinery.

The proliferation of industrial automation and robots in the industrial sector to achieve high productivity will accelerate the demand for high current rating intelligent power modules. According to the International Federation of Robotics (IFR), around 2 million new industrial robots will be installed in factories from 2020 to 2022. To cater to the high demand in the industry, the companies are continuously innovating new products.

IGBT segment is projected to attain a CAGR of more than 9% during 2020 to 2026 impelled by increasing technology innovations in the IGBT devices to achieve low noise and reduce power consumption for various consumer electronics and industrial motors. In September 2020, Fuji Electric Corp., announced the launch of its new intelligent power module based on 7^th generation X series IGBT module for various power electronics systems such as variable speed drives, power convertor, and HVAC, among others owing to the growing demand from the industrial sector in India and Thailand.

The consumer electronics segment accounted for 35% of the intelligent power module market share in 2019 and will showcase growth of 10% by 2026 on due to the rising adoption of smart home devices in developing nations. These power modules are adopted in various smart electronic devices such as air conditioners, dishwashers, washing machines, refrigerators, etc., to remotely control the power outlet and prevent from power consumption and electrocutions.

Intelligent power modules also help device manufacturers to achieve optimized systems cost and deliver high efficiency and low-noise features in smart home equipment. This will increase their adoption in consumer appliances.

The Asia Pacific intelligent power module market held over 35% of revenue share in 2019 and is poised to observe 10% CAGR from 2020 to 2026. Rising adoption of electric vehicles in China, India, South Korea is creating high growth opportunities. Moreover, increasing initiatives by the government such as offering subsidies for the purchase of electric vehicle will further accelerate the market revenue. According to the South Korea Environment Ministry, consumers will be able to receive government subsidies of around USD 15,000 each for the payment of electric vehicle purchase in 2020.