The market is poised for growth driven by increased EV demand, AI-enhanced motor control, renewable energy expansion, and SiC technology

Intelligent Power Module Market

Dublin, Jan. 27, 2026 (GLOBE NEWSWIRE) — The “Intelligent Power Module Market Report 2026” has been added to ResearchAndMarkets.com’s offering. The report provides detailed insights into the IPM industry, covering statistics, regional shares, competitor analysis, and market projections.

With applications spanning from renewable energy and home appliances to EVs and industrial drives, IPMs predominantly draw on IGBTs and MOSFETs for varied applications across consumer electronics, automotive, and industrial sectors.

The intelligent power module (IPM) market has witnessed significant growth and is poised for continued expansion. From $2.96 billion in 2025, it will grow to $3.33 billion in 2026 at a CAGR of 12.6%. The historic growth was driven by early applications in motor drives, industrial inverters, home appliance systems, renewable energy, and electric vehicle (EV) systems. Looking forward, the market is expected to reach $5.6 billion by 2030, experiencing a CAGR of 13.9%. This surge is fueled by trends such as AI-enhanced motor controls, burgeoning renewable energy systems, and high-performance industrial drives.

The rising demand for electric vehicles significantly propels the IPM market growth. EVs integrate IPMs within motor drive systems to control power delivery and performance. International Energy Agency (IEA) reported new electric car registrations in China reached 8.1 million in 2023, a 35% increase from 2022, underscoring the demand’s impact on the IPM market.

Technological advancements are a key focus for leading companies in the IPM market. There is a shift towards silicon-carbide (SiC)-based IPMs, which offer enhanced power density, energy efficiency, and thermal management in sectors such as EVs, renewable energy, and industrial automation. For instance, Onsemi introduced the EliteSiC SPM 31 series in March 2025, a SiC MOSFET-based 1200 V IPM. This module facilitates improved energy efficiency and thermal performance, suitable for applications like EC fans in AI data centers and industrial equipment.

Strategic collaborations are shaping the IPM landscape, evidenced by Onsemi’s partnership with BorgWarner Inc. in July 2023. This alliance strengthens SiC technology application in EVs and other high-power domains by leveraging SiC benefits in power efficiency and size.

Markets Covered:

• Power Device: IGBT, MOSFET

• Voltage Rating: Up to 600V, 601-1,200V, Above 1,200V

• Verticals: Consumer Electronics, Automotive, Industrial, Aerospace, Defense, Others

• Applications: Renewable Energy, Home Appliances, Electric Vehicles, Servo Drives, Others