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Intelligent Power Module Market Size

Report ID: GMI4843
Published Date: Oct 2020
Report Format: PDF

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Intelligent Power Module Market Size

Intelligent Power Module Market size exceeded USD 1.5 billion in 2019 and is estimated to grow at a CAGR of over 9% between 2020 and 2026. Rising trends toward renewable energy in power generation have propelled the market demand for intelligent power modules. These power modules help to reduce the cost per watt and optimize power extraction from the solar panels. They have applications in grid tied renewable energy systems and photovoltaic system (PV) for intelligent power control. Market players are continuously engaged in innovating new power modules for solar energy applications to cater to the high demand in the industry. For instance, in June 2020, Trina Solar Co., Ltd. launched an intelligent power module with power output exceeding 500W for solar energy applications.

Rising government initiatives regarding the emission control of greenhouse gases, majorly CO2, have further boosted the adoption of renewable energy for electricity generation and energy conversion. According to the Center for Climate and Energy Association, solar generation in the U.S. is expected to climb the renewable generation to 48% by 2050, in comparison with 11% in 2017. This will accelerate the establishment of power conservation plants.

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The COVID-19 pandemic has restrained the capability of intelligent power module market participants to develop new products led by supply chain bottleneck and various trade restrictions across the globe. The pandemic outbreak has also resulted in the shutdown of various manufacturing plants that develop automotive & consumer electronics products. The companies in end-user industries have planned to reduce their manufacturing capabilities owing to the declining demand from consumers which will restrain the market growth opportunities. However, post COVID-19 scenario will propel the investments in the automotive sector and renewable energy.

Intelligent Power Module Market Report Attributes
Report Attribute	Details
Base Year:	2019
Intelligent Power Module Market Size in 2019:	1.5 Billion (USD)
Forecast Period:	2020 to 2026
Forecast Period 2020 to 2026 CAGR:	9%
2026 Value Projection:	2.5 Billion (USD)
Historical Data for:	2016 to 2019
No. of Pages:	200
Tables, Charts & Figures:	226
Segments covered:	Voltage Rating, Current Rating, Power Devices, Application, Region
Growth Drivers:	Emphasis towards renewable energy in power generation Rising trends towards electric vehicles around the globe Increasing demand from consumer electronics appliances Growing adoption of industrial robots and automation in factories
Pitfalls & Challenges:	Technical challenges associated with new generation IPM

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Authors: Suraj Gujar

Frequently Asked Questions (FAQ) :

Global market for intelligent power modules is expected to record over 9% CAGR through 2026 with increased investments in renewables and the need for optimizing power extraction from solar panels.

Intelligent power modules up to 600V accounted for nearly 50% of the global share in 2019, owing to their high performance ability and enhanced energy efficiency provided for motor drive applications.

The demand for intelligent power module having >100 A current rating will register 6% CAGR up to 2026 due to the increased use of industrial robots where the components provide reduced power loss.

The market share from consumer electronics applications will witness nearly 10% CAGR through 2026 owing to a significant demand across smart home devices like refrigerators, ACs and washing machines.

APAC market for intelligent power modules will achieve a strong 10% CAGR up to 2026, with a gradual rise in the adoption of electric vehicles and government initiatives to boost EV production.