Industrial Power Modules Market size was valued at USD 4.5 Billion in 2024 and is projected to reach USD 8.2 Billion by 2033, exhibiting a CAGR of 7.2% from 2026 to 2033.
The global Industrial Power Modules Market was valued at USD 6.3 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 7.3% from 2023 to 2030. The growing demand for energy efficient solutions across industries, along with the increasing adoption of electric vehicles (EVs) and renewable energy systems, is driving the markets expansion. The market is also influenced by the advancements in power electronics technology, contributing to the demand for industrial power modules in various applications, including manufacturing, transportation, and power generation. In terms of regional distribution, North America held a significant market share in 2022, contributing to approximately 35% of the total market value, primarily due to the rapid adoption of automation in manufacturing and industrial processes. Europe is also a key player, accounting for about 30% of the global market, with notable demand from industrial automation and renewable energy sectors. The Asia Pacific region, particularly China and Japan, is anticipated to grow at the highest CAGR, driven by the increasing industrialization, government initiatives for electric vehicle production, and substantial investments in renewable energy infrastructure.
In terms of regional opportunities, the Asia Pacific market is expected to witness significant growth, with projected revenue reaching USD 3.5 billion by 2030, at a CAGR of 8.1% over the forecast period. The regions expanding manufacturing industry, coupled with rising investments in electric vehicles and green technologies, presents numerous growth opportunities for industrial power modules. Additionally, the growing trend of smart manufacturing and industrial Internet of Things (IoT) applications further contributes to the demand for efficient and reliable power modules. Meanwhile, regions such as the Middle East and Africa are emerging as potential markets, owing to the increasing focus on industrialization and energy efficiency initiatives.
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Texas Instruments Incorporated
Star Automations
DyDac Controls
Infineon
Mitsubishi
IXYS
Vincotech
ABB
Wolfspeed
AIPULNION
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Industrial Power Modules Market
Industrial Automation
Renewable Energy
Electric Vehicles
Consumer Electronics
Telecommunications
IGBT Modules
SiC Modules
IGCT Modules
Hybrid Modules
Power MOSFET Modules
Motor Drives
Power Supply
HVAC Systems
Renewable Energy Systems
Lighting Systems
Single-Module Configuration
Parallel-Module Configuration
Series-Module Configuration
Integrated Modules
Custom Modules
Silicon Technology
Silicon Carbide (SiC) Technology
Gallium Nitride (GaN) Technology
High-Voltage Technology
Low-Voltage Technology
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Industrial Power Modules Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Industrial Power Modules Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Industrial Power Modules Market, By Type
6. Global Industrial Power Modules Market, By Application
7. Global Industrial Power Modules Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Industrial Power Modules Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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