IMARC Group’s report titled “Intelligent Power Module (IPM) Market Report by Voltage Rating (Upto 600V, 601V-1200V, More than 1200V), Current Rating (Upto 100A, 101A-600A, Above 600A), Circuit Configuration (6-PAC, 7-PAC, and Others), Power Device (IGBT, MOSFET), Application (Consumer Electronics, Servo Drives, Transportation, Renewable Energy, and Others), and Region 2024-2032”, The global intelligent power module market size reached US$ 2.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.8 Billion by 2032, exhibiting a growth rate (CAGR) of 6.8% during 2024-2032.
Factors Affecting the Growth of the Intelligent Power Module (IPM) Industry:
IPMs are designed to maximize energy efficiency by reducing power losses during operation. They achieve this through advanced semiconductor technologies and optimized circuit designs that minimize switching losses and improve overall efficiency. This capability is crucial in applications where energy efficiency is a primary concern, such as industrial motor drives, heating, ventilation, and air conditioning (HVAC) systems, and consumer electronics. Moreover, IPMs play a critical role in achieving these cost savings by minimizing wasted energy and optimizing power conversion processes.
Innovations in semiconductor materials, device structures, and packaging techniques are enabling IPMs to achieve higher levels of efficiency. This means reduced power losses during operation, improved thermal management, and overall better energy utilization. Higher efficiency is particularly important in applications where energy savings are critical, such as industrial motor drives, renewable energy systems, and electric vehicles (EVs). Furthermore, technological advancements are leading IPMs with improved reliability and durability, capable of operating in harsh environments with minimal maintenance. Enhanced packaging techniques, robust semiconductor materials, and sophisticated thermal management solutions contribute to the longevity and performance stability of IPMs.
Renewable energy systems require efficient power conversion and control to maximize energy harvesting from intermittent sources like solar and wind. IPMs play a crucial role in these systems by providing efficient and reliable power switching, voltage regulation, and energy management capabilities. They help optimize the conversion of direct current (DC) power generated by solar panels or wind turbines into usable alternative current (AC) power that can be fed into the grid or used locally. In addition, IPMs are integral components in inverters and converters used in renewable energy systems.
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Leading Companies Operating in the Intelligent Power Module (IPM) Industry:
