Wilmington, Delaware, United States, March 16, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The Global Motor Driver ICs Market stood at US$ 4.0 Bn in 2022 and is projected to reach US$ 6.9 by 2031.
Strong demand for motor driver ICs in robotics solutions used in industrial automation is anticipated to offer abundant opportunities to companies in the motor driver ICs industry. Extensive utilization of motor driver ICs in conveyor belts and assembly lines in manufacturing industries is expected to propel industry growth.
IC manufacturers are keen on developing products with a large voltage & current range in order to fulfill current and emerging applications in end-use industries. Demand for energy-efficient motor control systems in the automotive industry is likely to create promising opportunities for companies operating in the Motor Driver ICs Market.
Companies are expanding their product portfolio of brushless motor driver ICs in a bid to expand their customer base in the near future. They are offering advanced powertrain and engine control solutions to increase revenue.
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Key Findings of Study
- Strong Demand for Motor Driver ICs in Automotive Industry to Bolster Market: The market study by TMR indicates that brushless DC motors are extensively utilized in electric vehicles (EVs). The brushless DC motor segment held the leading 43.9% market share in 2022. Surge in usage of brushless DC motors in a wide range of applications, such as consumer electronics and drones, is anticipated to propel the segment during the forecast period 2023–2031.
On the other hand, continuous R&D in automotive brushed DC motor driver ICs is poised to open up new growth avenues for the market. Utilization of motor driver ICs is expected to also increase in consumer electronics considerably. Among all end-use industries, the consumer electronics segment is estimated to expand at a CAGR of 6.2% during this period. It held the leading market share in 2022. - Rise in Usage of Motor Driver ICs in Several Industrial Automation Applications: Demand for motor driver ICs in industrial automation applications, particularly in autonomous robots, is significant. Advancements in microcontroller circuits used in robotics have bolstered the demand for advanced motor driver ICs in the past few years. Motor driver ICs are also substantially used in automatic sliding doors of commercial buildings and transportation systems. Utilization of motor driver ICs in automotive power sliding doors is expected to accelerate the Motor Driver ICs Market development.
Key Drivers
- Expansion in the automotive sector is expected to drive market demand. Rise in adoption of advanced motor control ICs in electric and hybrid vehicles is likely to influence the Motor Driver ICs Market value in the next few years.
- High demand for energy-efficient consumer electronic devices is anticipated to drive market growth in the next few years.
- Strong application of robotics technology in industrial automation in various sector is estimated to fuel the Motor Driver ICs Market.
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Regional Growth Dynamics
- Asia Pacific is one of the most lucrative markets for motor driver ICs globally. The presence of several prominent automotive manufacturers in the developing countries of the region is projected to propel the market in Asia Pacific. India, China, Japan, and ASEAN countries are anticipated to offer significant revenue opportunities to companies in the global market. Surge in demand for consumer electronics devices is expected to strengthen demand for motor control ICs among consumer electronics manufacturers.
- Europe and North America are also promising Motor Driver ICs Markets. North America held 28.8% market share in 2022. Rapid pace of commercialization of electric vehicles in Europe and North America is likely to spur the utilization of motor driver ICs.
- Need to reduce carbon footprint of vehicles is likely to drive R&D in chips used in motor control solutions in automobiles. Motor control ICs are extensively utilized in a wide range of powertrain applications in the automotive sector.
Competition Landscape
The landscape is fragmented, with well-entrenched players accounting for major market share. Prominent companies are keen on developing and launching innovative products in order to consolidate their market positions.
Key players operating in the Motor Driver ICs Market are
- Infineon Technologies AG,
- Allegro MicroSystems, Inc.,
- Maxim Integrated,
- Microchip Technology, Inc.,
- Panasonic Corporation,
- Rockwell Automation, Inc.,
- Dialog Semiconductor, and ROHM Semiconductor.
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Motor Driver ICs Market Segmentation
Motor Type
- Brushed DC Motor
- Brushless DC Motor
- Stepper Motor
Material
- Si (Silicon)
- SiC (Silicon Carbide)
- GaN (Gallium Arsenide)
Technology
- MOSFET
- IGBT
Voltage Range
- 3 V – 5 V
- 5 V – 24 V
- 24 V – 48 V
- 48 V – 240 V
- 240 V and Above
End-use Industry
- Automotive
- Consumer Electronics
- Industrial
- Healthcare
- Others
- Construction
- Aerospace & Defense
Region
- North America
- South America
- Middle East & Africa
- Europe
- Asia Pacific
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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