Motor Driver ICs Market Overview – Global Industry Analysis and Forecast (2023-2029) by Type, Application and Region

Motor Driver ICs Market is expected to grow at a CAGR of 6.6% during the forecast period. Motor Driver ICs Market is expected to reach US$ 5.02 Bn. by 2029.

The motor driver IC is an integrated circuit chip used as a motor controlling device in autonomous robots and embedded circuits. The most common motor Driver ICs are used in simple robots and RC cars. Motor driver ICs are available with three types of motors which include brushed DC motor, stepper motor, and brushless DC motor. With the growth in the automation industry and rising, FDI investments are boosting the market growth.



To Know About The Research Methodology :- Request Free Sample Report
Motor Driver ICs Market Dynamics:
Increasing Use in industrial automation to Drive Global Motor Driver ICs Market

Rising demand for the industrial automation industry along with the growth in the automation industry has led to increasing demand for the motor driver ICs market. Mass production has put more pressure on the assembling line besides, to reduce the processing time of the assembly line and increasing production, manufactures are more focusing on the advanced devices this has made a positive impact on the motor driver ICs market. With the increasing adoption of Motor driver ICs in the automation industry for instance, such as in logistics systems, tool machines and robots, food, and packaging are fuelling the market growth. In addition, with the rising adoption of industrial robots as these robots consume less power, has high accuracy, the high speed which makes the operation more efficient are further driving the market growth. These industrial robots are controlled and operated by using motor drivers also offers protection against faults in the power supply and thus, this has created many lucrative opportunities for the motor driver ICs market. Industrial automation industry manufactures are focusing on improving the motor's efficiency, accuracy, robustness, and reliability as these factors play a vital role to improve the productivity of the industry which in turn has created many opportunities for the key players operating in this market.

The report has profiled ten key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analysis and report has come up with recommendations for a future hot spot in the Asia Pacific. Major country’s policies about manufacturing and their impact on Motor Driver ICs demand are covered in the report.
Motor Driver ICs Market Segment Analysis:
The Automotive segment is expected grow at a CAGR of xx% during the forecast period.

By End-Use, in 2022, the global automotive segment was xx% and it is estimated to reach USD$ xx Mn by 2029. The sales of new cars have increased since 2020, also a larger portion of global semiconductor sales saw rapid growth in 2020. Chip manufacturers and the automotive industry are investing more in R & D, for instance, the European Union and many of its member states are designing programs to help build chip manufacturing capacities across the continent this has made a positive impact on the motor driver ICs market.
Motor Driver ICs Market Regional Insights:
North America is expected to grow at a CAGR of 6.1% during the forecast period and is expected to reach xx% market share by 2029

North America held the largest market share in 2022 and is expected to maintain its leading position in the coming years. The market growth in North America is attributed to increasing investments in R & D for the development of advanced motor driver ICs devices and modern state-of-art facilities. The U.S is one of the leading countries that spend huge expenditure on the automobile sector which in turn has created many lucrative opportunities for the Motor Driver ICs market. The United States has one of the largest automotive markets in the world. In 2018, U.S. light-vehicle sales reached 17.2 million units as well as Major European, Japanese, and Korean automaker has produced vehicles and invested more than $75 billion in the United States. Total foreign direct investment in the U.S. automotive industry reached $114.6 billion in 2018. In Europe, the market growth is attributed to rising disposable income, growing awareness of automotive care products, and rising sales of luxury vehicles which are fuelling the market growth.

The Motor Driver ICs market in the Asia Pacific is projected to expand at a rapid pace during the forecast period, led by the rising trends towards the electric and hybrid vehicle. In countries like India, China, and Japan governments and automobile manufacturers are more focusing on new-energy vehicles (NEVs) this has provided many lucrative opportunities for the auto brands which in turn has made a positive impact on the demand for motor drivers ICs market.

The report also helps in understanding global Motor Driver ICs market dynamics, structure by analyzing the market segments and project global Motor Driver ICs market clear representation of competitive analysis of key players by price, financial position, by detection and equipment portfolio, growth strategies, and regional presence in the global Motor Driver ICs market make the report investor’s guide.
Motor Driver ICs Market Scope: Inquire before buying



Motor Driver ICs Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 3.21 Bn.


Forecast Period 2023 to 2029 CAGR:
6.6%
Market Size in 2029:
US $ 5.02 Bn.


 Segments Covered:
by Motor Type
• Brushed DC Motor
• Brushless DC Motor
• Stepper Motor


by End-use Industry
• Healthcare
• Aerospace
• Automotive
• Electronics & Semiconductor


by Application
• Robotics
• Printers
• Scanners
• HVAC Blowers
• Gaming Machines
• Others Application



Motor Driver ICs market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Motor Driver ICs market Key Players:
• ABB
• Allegro MicroSystems, LLC
• Infineon Technologies AG
• Maxim Integrated
• Microchip Technology Inc.
• NXP Semiconductors
• On Semiconductor
• Panasonic Corporation
• Rockwell Automation, Inc.
• STMicroelectronics
• Texas Instruments Incorporated
• TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION

Frequently Asked Questions:

1. Which region has the largest share in Global Motor Driver ICs Market?
Ans: North America region held the highest share in 2022.

2. What is the growth rate of Global Motor Driver ICs Market?
Ans: The Global Motor Driver ICs Market is growing at a CAGR of 6.6% during forecasting period 2023-2029.

3. What is scope of the Global Motor Driver ICs Market report?
Ans: Global Motor Driver ICs Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Motor Driver ICs Market?
Ans: The important key players in the Global Motor Driver ICs Market are – ABB, Allegro MicroSystems, LLC, Infineon Technologies AG, Maxim Integrated, Microchip Technology Inc., NXP Semiconductors, On Semiconductor, Panasonic Corporation, Rockwell Automation, Inc., STMicroelectronics, Texas Instruments Incorporated, TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION.

5. What is the study period of this Market?
Ans: The Global Motor Driver ICs Market is studied from 2022 to 2029.