North America Intelligent Power Module Market was valued at over USD 600 million in 2019 and is expected to grow at a CAGR of over 8%.
 

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The North America market is experiencing significant growth owing to the increasing adoption of renewable energy for power generation in the region. In December 2020, the U.S. Department of Energy (DOE) announced USD 11 million fund for 16 federal agency projects to promote the adoption of energy efficiency, renewable energy among others across the region. Intelligent power modules are embedded in power grids of renewable energy systems such as solar & wind panels and photovoltaic systems (PV). These modules provide custom IC performing self-protection systems, improve performance, reduce cost, and control power consumption, augmenting the demand for intelligent power modules in the energy sector

The above 1,200 V segment holds a market share of over 10% in the market in 2019. These modules are integrated in high-voltage industrial equipment, such as power transformers, and in inverter appliances. The use of these modules in motor control systems and industrial motor drives offers high energy efficiency and performance capability. These motor drives are embedded with IPM, used in home appliances including air conditioners, refrigerators, and washing machines among others, providing inverter-based motor control. This increases the lifetime of products, improves efficiency, reduces noise, consumes less energy.

The renewable energy segment held a market share of over 15% in 2019 and will grow at a CAGR of over 6% during the forecast timeline. The growth is majorly attributed to the rising need of reducing emission of carbon and greenhouse gases. Increase in environmental issues, such as global warming and ozone layer depletion, will accelerate the adoption of renewable energy systems, electric vehicles, and smart devices among others embedded with IPM in the region.

The U.S. will grow at a CAGR of 9% in the market over the forecast period. Rising government initiatives promoting adoption of solar panels are laying a significant impact in the country to optimize power extraction with significant reduction in cost. According to the Center for Climate and Energy Association, the U.S. generated 72,234 million kW of solar power by 2019 and is expected to climb the renewable generation to 48% by 2050. The U.S. government has offered tax credits and incentives for installing solar energy systems by individuals, accelerating the implementation of power conservation plants in the U.S. and contributing to the intelligent power module.

Key players operating in the North America market are ON Semiconductor Corporation, Fairchild Semiconductor International, Powerex, Infineon, Wolfspeed, and Arrow, among others. These players are extensively focusing on strategic collaborations and new product innovations to stay competitive in the market. For instance, in September 2019, ON Semiconductor launched an intelligent power module motor control for industrial applications. It offers 3-phase inverters integrated with drive circuitry and intelligent electronic controls for driving induction motors. To cater to the high demand in residential and commercial sectors, companies are continuously innovating new products. For instance, in May 2019, Infineon launched a new product series for an IPM, CIPOS Maxi integrated with multiple power and control components. This includes 1,200 V with 5 A & 10 A options for up to 1.8 kW motor drive solution.