The intelligent power module market was valued at USD 1.6 billion in 2020 and is projected to reach USD 2.7 billion by 2025. It is expected to grow at a CAGR of 12.2% during the forecast period. Growing focus of worldwide governments on generating power using renewable sources, rising adoption of electric vehicles globally, increasing use of IPMs to improve system reliability and performance, and surging utilization of IPMs in the personal computing applications owing to their compact design and increased energy efficiency are the key driving factors for the intelligent power module market.
IPM with current rating up to
100 A to account for a largest share of the intelligent power module market by
2025
IPMs with a current rating of up to 100 A suffice the purpose of
domestic applications, which comprise daily use appliances such as washing
machines, air conditioners, and dishwashers. Such IPMs are manufactured by all
major players, such as Mitsubishi Electric Corp. (Japan), Fuji Electric Co.,
Ltd. (Japan), ON Semiconductor Corporation (US), and Infineon Technologies AG
(Germany). The key target segment of these IPMs is the consumer electronics
sector. Some of the benefits of these IPMs are the cost savings from a smaller
footprint and reduced PCB space. Easy implementation of 2- or 3-phase motor
drives with half-bridge IPMs and half-bridge configuration enables a more
flexible board design with better thermal performance.
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IGBT intelligent power modules
accounted for the largest market share in 2019
IGBT-based IPMs combine the advantages of 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
simple. The modules also provide undervoltage lockout protection and
overtemperature protection. IGBT-based IPM modules are available across all the
current and voltage rating categories. Manufactured by all the key players in
the market, IGBT-based IPMs have seen continuous improvements 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 market share in 2019
Industrial is among the key verticals for the IPM market. In
2019, this vertical held ~46% share of the overall market. The industrial
segment comprises industrial manufacturing, process industries, and energy
& power industry. Industrial devices, such as pumps, conveyors,
compressors, cranes, winders, extruders, and rollers, use powered modules for
controlling and protecting the circuitry. Processes such as electroplating,
electrolysis, welding, lighting, induction heating, and other industrial
operations employ power modules to use electric power efficiently and safely.
The ease of manufacturing has led to the availability of these devices in a
vast range of current ratings and high voltage ratings. IPMs control almost all
the motors employed in rolling mills, textile mills, and cement mills.
APAC to account for
the largest market share during the forecast period
APAC is expected to hold the largest share of the
intelligent power module market in 2020. China is the world’s largest producer
and end user of consumer electronics devices, such as smartphones, tablets, and
home appliances. The increasing need for power management in consumer
electronics products is fueling the demand for intelligent power modules in the
consumer electronics vertical.
Industrial automation and the need for efficient use
of power for various industrial applications are further driving the demand for
power electronics devices in the industrial vertical. Renewable energy
generation is one of the key revenue pockets for the intelligent power market
in APAC. Governments in multiple countries of the region are motivating the
shift toward renewable energy generation, mainly photovoltaics or solar,
through offers and subsidies.
Key Market Players
Include Mitsubhishi Electric (Japan), ON Semiconductor (US),
Infineon Technologies (Germany), Fuji Electric (Japan), and Semikron (Germany),
are among the major players in the intelligent power module market.
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