Motor Driver ICs Market Poised to Reach USD 6.9 Billion at a CAGR of 6.1% by 2031

WILMINGTON, DE / ACCESSWIRE / July 3, 2023 / The global motor driver ICs market was valued at US$ 4.0 Bn in 2022 and is projected to reach US$ 6.9 by 2031. Introduction of next-generation brushless motor driver ICs is anticipated to offer rapid growth opportunities to companies in the motor driver ICs market.

An instance is rapid increase in usage of brushless DC motors in electric vehicles presents significant revenue opportunities for market players. Advancement in conveyor belt system, which is adopted in manufacturing industries, is expected to broaden market outlook, since motor driver ICs are widely incorporated in conveyor belts.

Continuous research in development of motor driver ICs that are characterized by wide voltage range is broadening market outlook. Extensive adoption of motor driver ICs of L293 series presents substantial business opportunities to IC manufacturers in the market These are utilized in high voltage and high current full dual bridge driver applications where these are used to control two DC motors.

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Market Snapshot:

Report Coverage

Details

Market Revenue

US$ 4.0 Bn

Estimated Value

US$ 6.9 Bn

Growth Rate - CAGR

6.1%

Forecast Period

2023-2031

No. of Pages

212 Pages

Market Segmentation

Motor Type, Material, Technology, Voltage Range, End-use Industry

Regions Covered

North America, Europe, Asia Pacific, Middle East & Africa, South America

Companies Covered

Allegro MicroSystems, Inc., Infineon Technologies AG, Maxim Integrated, Microchip Technology Inc., NXP Semiconductors, Panasonic Corporation, Rockwell Automation, Inc., STMicroelectronics, Texas Instruments Inc., Toshiba Corporation, Dialog Semiconductor, Power Integrations, Powerchip Semiconductor Manufacturing Corp., ROHM Semiconductor, Diodes Incorporated

Key Findings of Study

Widespread Incorporation of Motor Driver ICs in Autonomous Robotics Solutions: Extensive utilization of motor driver ICs in autonomous robotics applications is expected to propel market growth.

Continuous innovation in microcontroller circuits used in robotics is anticipated to create substantial growth opportunities for companies in the market. Significant usage of variable speed motor control drivers to control AC/DC motors in in automation systems used in Industry 4.0 technologies is projected to boost market development in the next few years.

Rise in Adoption of Automotive Brushless DC Motors to Bolster Market Development: Recent market trends indicate a rise in preference for brushless DC motors in vehicles. This is bolstering the adoption of motor driver ICs in the automotive industry. Based on motor type, the brushless DC motor segment accounted for major share of 43.9% in 2022.

Rapid adoption of brushless DC motors in electric vehicles is anticipated to bolster the segment. Surge in incorporation of brushless DC motors in drones and consumer electronics is likely to strengthen the (brushless DC motor type) segment.

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Key Growth Drivers of Motor Driver ICs Market

Increase in pace of industrial automation is a key factor driving the motor driver ICs market. Surge in incorporation of industrial motor control systems is anticipated to drive the demand for motor driver ICs.

Rapid adoption of industrial automation in the manufacturing industries is driving the market evolution.

Increase in trend of incorporation of advanced powertrain and engine control solutions in the automotive sector is anticipated to drive the motor driver ICs industry. Automotive manufacturers are expected to tap into the significant revenue potential due to considerable demand for electric and hybrid vehicles in developing countries around the globe.

Rapid increase in production of consumer electronics is likely to be a significant driver of the market. A range of motor control solutions, such as GaN motor drives, are incorporated in consumer electronics.

Regional Landscape

Asia Pacific accounted for the leading share of 38.6% in 2022. Considerable utilization of motor driver ICs in a range of industrial automation, consumer electronics, and automotive applications in India, China, Japan, and ASEAN countries is anticipated to boost the market in Asia Pacific.

Rapid expansion of the electronics manufacturing sector is expected to create significant business opportunities for companies in the region. Surge in commercialization of electric vehicles across Asia is anticipated to augment market development in Asia Pacific in the next few years.

Rise in demand for brushed motor ICs in automotive applications is expected to create significant growth opportunities for market players in the near future.

North America constituted 28.8% market share in 2022. The market in the region is anticipated to be lucrative in the next few years. Significant adoption of a range of motor control ICs in the automotive sector is likely to propel the market in North America in the near future.

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Competition Landscape

The motor driver ICs market is highly fragmented, with a large number of players accounting for majority share.

Key companies operating in the market are

Infineon Technologies AG

NXP Semiconductors

Allegro MicroSystems

Maxim Integrated

Microchip Technology

Panasonic

Power Integrator

Rockwell Automation

Dialog Semiconductor GmbH

ROHM Semiconductor

Segmentation

The global motor driver ICs market is segmented based on

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

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