Intelligent Power Modules Market

• Surging global electric vehicle demand is driving the market growth

Market CAGR for the automotive industry is in a period of unprecedented changes. The industry needs to make urgent progress in improving its environmental impact. The electrification of vehicle powertrains, ranging from the implementation of start/stop to full battery electric vehicles, is widely seen as how the global automotive industry can move closer toward the goal of true sustainability. Electric vehicles are the backbone of the low-pollution automotive sector; these vehicles can significantly reduce carbon dioxide content and compensate for the greenhouse effect to a certain extent.

SAE International, a global association, has defined several vehicle electrification standards to help build safe and efficient electric vehicles. Isolation is critical to meet safety standards for storage batteries, communication networks, and power generation.

Prominent players in the manufacturing of intelligent power module are continuously focusing on integrating multiple functions in a single chip, which has resulted in complex designing issues. Special skillsets, robust methodologies, and toolsets are required to design and integrate complex devices. intelligent power module manufacturing companies provide multiple features in a single integrated circuit(IC), driving the intelligent power module market revenue.

For instance, in August 2022, Bourns entered the IGBT market by launching its first high-efficiency 600-V/650-V discrete products co-packaged with a fast recovery diode (FRD). The five new discrete devices in the Model BID series are said to be based on advanced Trench-Gate-Field-Stop technology, allowing better control over dynamic characteristics.

Additionally, the rising demand for renewable energy generation, OEM focus on providing creative and efficient energy and power monitoring modules, and increasing demand for intelligent power module in the automotive, industrial, and consumer electronics verticals are the major drivers driving the intelligent power module market. Furthermore, trends in the personal computing industry include faster processors, smaller system sizes, and the requirement to assist advanced applications, as intelligent power modules' small size effects in fewer parts needing to be purchased, stored, and put together.

The expansion of industrial automation is significantly impacting the Global Intelligent Power Module Market Industry. As industries seek to enhance productivity and reduce operational costs, intelligent power modules are increasingly integrated into automation systems for improved energy management and efficiency. This trend is particularly evident in manufacturing and process industries, where intelligent power modules enable precise control of motors and drives. The growing emphasis on automation is anticipated to support a compound annual growth rate of 8.06% from 2025 to 2035, highlighting the critical role of intelligent power modules in modern industrial applications.

The Global Intelligent Power Module Market Industry is experiencing a surge in demand for energy-efficient solutions. As industries strive to reduce operational costs and minimize environmental impact, intelligent power modules are increasingly adopted in various applications, including renewable energy systems and electric vehicles. The global push for sustainability and energy conservation is likely to drive the market, with projections indicating a market value of 1.79 USD Billion in 2024. This trend reflects a broader commitment to achieving energy efficiency targets, which may further enhance the adoption of intelligent power modules across diverse sectors.

The increasing adoption of electric vehicles (EVs) is a significant driver for the Global Intelligent Power Module Market Industry. As governments worldwide implement stricter emissions regulations and provide incentives for EV purchases, the demand for efficient power management solutions is expected to rise. Intelligent power modules play a crucial role in optimizing the performance of EVs by enhancing energy conversion and management. This trend is likely to contribute to a compound annual growth rate of 8.06% from 2025 to 2035, reflecting the growing importance of intelligent power modules in the automotive sector.

The integration of renewable energy sources into the power grid is a key factor influencing the Global Intelligent Power Module Market Industry. As countries aim to transition towards cleaner energy systems, intelligent power modules facilitate the efficient conversion and management of energy from sources such as solar and wind. These modules enhance the reliability and stability of renewable energy systems, making them more viable for widespread use. The increasing focus on renewable energy is expected to drive market growth, contributing to the projected market value of 1.79 USD Billion in 2024, as stakeholders seek to optimize energy production and consumption.

Technological advancements in semiconductor materials and manufacturing processes are propelling the Global Intelligent Power Module Market Industry forward. Innovations such as wide bandgap semiconductors, including silicon carbide and gallium nitride, offer superior performance characteristics, including higher efficiency and thermal management. These advancements enable the development of more compact and powerful modules, which are essential for modern applications like electric vehicles and renewable energy systems. As the industry continues to evolve, the market is projected to reach 4.2 USD Billion by 2035, indicating a robust growth trajectory driven by these technological enhancements.

By Region, the study delivers market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific intelligent power module market area will dominate this market over the forecast period. The consumer electronics and automotive industries are expanding quickly in China, projected to raise demand for intelligent power modules in this region. Moreover, China intelligent power module market held the largest market share, and the Indian intelligent power module market was the fastest-growing market in the Asia-Pacific region.

Further, the prominent countries studied in the market report are The U.S., Canada, German, France, Italy, Spain, the UK, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: GLOBAL WEIGHT LOSS MARKET SHARE BY REGION 2022 (%)

Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review

Europe intelligent power module market accounts for the second-largest market share owing to the high utilization of renewable energy in end-user industries and more increased penetration of developed consumer electronic products, along with the growing EV usage. Further, the German intelligent power module market held the largest market share, and the UK intelligent power module market was the fastest-growing market in the European region.

The North America intelligent power module market is expected to grow at the fastest CAGR from 2023 to 2032. This is owing to the improved demand for intelligent power modules is greatly enhancing as electric and hybrid car adoption rates increase in the region. Moreover, China intelligent power module market held the largest market share, and the Indian intelligent power module market was the fastest-growing market in the North America region.

Leading market players are investing heavily in research and development to expand their product lines, which will help the intelligent power module market expand even more. Market participants are also undertaking several strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The intelligent power module industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global intelligent power module industry to benefit clients and increase the market sector. Major players in the intelligent power module market, including Mitsubishi Electric Corporation, Semiconductor Components Industries, LLC, Infineon Technologies AG, Fuji Electric Co., Ltd., and others, are attempting to extend market demand by investing in research and development operations.

STMicroelectronics designs develops, manufactures, and markets semiconductor integrated circuits and discrete devices. The Company's products are used in the telecommunications, consumer electronics, automotive, computer, and industrial sectors. Geographically, customers are located in North America, Europe, and the Asia Pacific region. In December 2022, STMicroelectronics launched high-power modules for electric vehicles that boost performance and driving range. ST's new silicon-carbide (SiC) power modules have been selected for Hyundai's E-GMP electric-vehicle platform shared by KIA EV6 and several models.

Siemens Mobility GmbH operates as a railway company. The Company offers intelligent and efficient mobility solutions for urban, interurban, and freight transportation. Siemens Mobility serves clients worldwide. In May 2022, Siemens Mobility and Mitsubishi Electric Europe B.V. collaborated on SiC intelligent power module technology to allow efficient and sustainable mobility and electrical energy savings in the transportation sector.