Intelligent Power Module Market Report 2026

The intelligent power module market size has grown rapidly in recent years. It will grow from $2.96 billion in 2025 to $3.33 billion in 2026 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to early use of ipm in motor drives, initial integration in industrial inverters, adoption in home appliance systems, growth in renewable energy inverter applications, early deployment in ev systems.

The intelligent power module market size is expected to see rapid growth in the next few years. It will grow to $5.6 billion in 2030 at a compound annual growth rate (CAGR) of 13.9%. The growth in the forecast period can be attributed to increasing integration of smart ipm modules, adoption of AI-enhanced motor control, expansion in renewable energy systems, rising use in high-performance industrial drives, growth in connected inverter platforms. Major trends in the forecast period include integration of AI-based drive control, deployment of intelligent power modules, implementation of self-protection semiconductor functions, adoption of high-performance motor control systems, expansion of connected inverter platforms.

Rising demand for electric vehicles is propelling the growth of the intelligent power module market. Electric vehicles (EVs) are powered by electricity and use one or more electric motors for propulsion. IPMs are commonly integrated into the motor drive systems of EVs, where they control the electric motor responsible for powering the wheels. The IPM regulates the power delivered to the motor, including speed and torque control. For example, in April 2024, the International Energy Agency (IEA), a France-based intergovernmental organization, reported that new electric car registrations in China reached 8.1 million in 2023, marking a 35% increase compared to 2022. Therefore, the rising demand for electric vehicles is fueling the growth of the intelligent power module market.

Leading companies in the intelligent power module market are prioritizing the development of advanced technologies, including silicon-carbide (SiC)-based intelligent power modules, to address the increasing need for higher power density, improved energy efficiency, and better thermal management in applications such as electric vehicles, renewable energy systems, and industrial automation. SiC-based intelligent power modules combine SiC MOSFETs, gate drivers, and protection circuitry within a compact form factor, delivering higher switching efficiency, lower heat output, and a more compact system design when compared with traditional silicon IGBT-based modules. For example, in March 2025, Onsemi, a US-based semiconductor manufacturer, introduced the EliteSiC SPM 31 series, a 1200 V intelligent power module built with SiC MOSFET technology. This module provides improved energy efficiency, superior thermal characteristics, and a smaller size relative to Field-Stop 7 IGBT alternatives. Available in current ranges from 40 A to 70 A, it supports three-phase inverter systems used in EC fans for AI data centers, heat pumps, servo drives, robotics, variable frequency drives (VFDs), and industrial pumping and ventilation equipment. The integration of advanced SiC elements, along with built-in protection and driver functions, helps streamline system design, reduce power losses, and accelerate development timelines.

In July 2023, Onsemi, a semiconductor manufacturing company based in the US, formed a partnership with BorgWarner Inc. This collaboration aims to enhance their strategic relationship regarding silicon carbide (SiC) technologies. SiC technology plays a crucial role in the advancement of electric vehicles (EVs) and other high-power applications due to its significant benefits in power efficiency, size, and weight. The partnership between Onsemi and BorgWarner is focused on addressing the growing demand for SiC-based products within the automotive industry.

Major companies operating in the intelligent power module market are Mitsubishi Electric Corp., ON Semiconductor Corporation, Infineon Technologies AG, Fuji Electric Co. Ltd., Semikron Elektronik GmbH & Co. KG, ROHM Co. Ltd., Microchip Technology Inc., Toshiba Electronic Devices & Storage Corporation, Vincotech GmbH, Powerex Inc., Renesas Electronics Corporation, Silan Semiconductor Manufacturing Group, Power Integrations Inc., Sanken Electric Co. Ltd., Vishay Intertechnology Inc., Fairchild Semiconductor International Inc., International Rectifier Corporation, IXYS Corporation, Hitachi Power Semiconductor Device Ltd., SanRex Corporation, ABB Ltd., Texas Instruments Inc., STMicroelectronics N.V., Microsemi Corporation, Ideal Power Inc., TECX Inc., Vicor Corporation, Quail Electronics Inc., TAMURA Corporation.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are influencing the IPM market by raising costs for imported intelligent power modules, semiconductors, and custom ICs required for motor control and inverter applications. EV, renewable energy, and industrial motor drive segments in regions such as Asia-Pacific, Europe, and North America are most affected due to dependency on imported components. Nevertheless, tariffs are promoting local module assembly, regional IC sourcing, and innovation in cost-efficient IPM solutions, improving supply chain stability and enabling wider deployment of intelligent power electronics.

The intelligent power module market research report is one of a series of new reports that provides intelligent power module market statistics, including intelligent power module industry, global intelligent power module market size, regional shares, competitors with a intelligent power module market share, detailed intelligent power module market segments, market trends and opportunities, and any further data you may need to thrive in the intelligent power module industry. This intelligent power module market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The intelligent power module (IPM) stands out as a high-performance module equipped with a dedicated drive circuit that maximizes the power output from an IGBT chip. Additionally, it features a custom IC to execute essential self-protection functions, including short circuit detection, supply under voltage monitoring, and over-temperature protection. Predominantly utilized in motor control applications, IPMs also find applications in inverters, renewable energy systems, and uninterruptible power supplies.

The primary power devices in the intelligent power module market encompass insulated-gate bipolar transistors (IGBTs) and metal-oxide-semiconductor field-effect transistors (MOSFETs). IGBTs are employed in medium- to high-power applications such as traction motor control, switched-mode power supplies, and induction heating. Functioning as a semiconductor device that combines the high-speed switching performance of a power MOSFET with the high-voltage and high-current handling capabilities of a bipolar transistor, IGBTs come in various voltage types, including up to 600 V, 601-1,200 V, and above 1,200 V. Common vertical types include consumer electronics, automotive, industrial, aerospace, defense, and other sectors. Intelligent power modules are applied across a range of applications, including renewable energy generation, home appliances, electric vehicles, servo drives, and various other applications.Asia-Pacific was the largest region in the intelligent power module market in 2025 and is expected to be the fastest-growing region in the forecast period. The regions covered in the intelligent power module market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the intelligent power module market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The intelligent power module market consists of sales of intelligent power module components such as integrated circuits, temperature sensors, current sensors, protection circuits, and gate drive circuits. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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