Report : Europe Motor Driver IC Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Motor Type (Brushed DC Motor, Brushless DC Motor, and Stepper Motor), Semiconductor (Gallium Nitrate (GaN), and Silicon Carbide (SiC)), Semiconductor (Automotive, Aerospace and Defense, Industrial Automation, Consumer Electronics, and Healthcare)
Brushed DC Motor Segment has the Largest Share of Motor Type in the Europe Motor Driver IC Market during 2021–2028
According to our latest study on “Europe Motor Driver IC Market Forecast to 2028 – COVID-19 Impact and Analysis – by Motor Type, Semiconductor, and Application,” the market is projected to reach US$ 1,252.2 million by 2028 from US$ 864.7 million in 2021; it is expected to grow at a CAGR of 5.4% from 2021 to 2028. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the growing production of consumer electronics and increasing adoption of internet of things (IoT) across Industries. However, accuracy over a high current range is estimated to limit the market’s growth.
In Europe, the COVID-19 pandemic has a different impact on different countries, as only selective countries have witnessed the rise in the number of cases and subsequently attracted strict during the second wave, as well as prolonged, lockdown periods or social isolation norms. However, Western European countries such as Germany, France, Russia, and the UK have seen a comparatively modest decrease in their growth activities because of their strong healthcare systems. These countries have been investing significantly towards the diagnosis and treatment of the disease effectively and in less time. Traditional corporate frameworks have been swiftly replaced by more innovative business concepts. Despite the fact that several industries experienced negative impact, the electronic industry observed positive outcome and is projected to rebound more quickly than others. This has led the motor driver IC market players to witness positive growth in their revenues in 2020 and is also expected to continue to witness positive revenue generation in the coming years.
Based on motor type, the brushed DC motor segment is expected to register the largest market share during the forecast period. However, the stepper motor segment is estimated to register the highest CAGR during the forecast period. In 2021, stepper motors are currently one of the most used motor types in medical analyzers. Furthermore, stepper motors are in high demand in X-ray equipment, ultrasound scanners, IV pumps, and blood analyzers. Stepper motors in fans for cooling are used in recent technical breakthroughs in the healthcare business, such as oxygen concentrators. Stepper motors are useful for medical applications because of their small size and minimal noise.
Toshiba Corporation, Mitsubishi Electric Corporation, Texas Instruments Incorporated, Allegro MicroSystems, Inc., Renesas Electronics Corporation, STMicroelectronics N.V., ON Semiconductor Corporation, ROHM CO., LTD., INFINEON TECHNOLOGIES AG, and Analog Devices, Inc. are among the leading companies in the Europe motor driver IC market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The market for motor driver IC market is segmented into motor type, semiconductor, and application. Based on motor type, the Europe motor driver IC market is segmented into brushed DC motor, brushless DC motor, and stepper motor. Based on semiconductor, the Europe motor driver IC market is segmented into gallium nitrate (GaN), and silicon carbide (SiC). Based on application, the motor driver IC market is segmented into automotive, aerospace and defense, industrial automation, consumer electronics, and healthcare. Geographically, the motor driver IC market is segmented into Europe (Germany, UK, France, Italy, Russia, Rest of Europe).
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