The impact of COVID-19 differed from country to country across the Europe region as selected countries experienced an increase in the number of recorded cases and subsequently attracted strict and more extended lockdown periods or social isolation. Germany, Italy, United Kingdom, Russia, and France are the countries that were most affected by various restrictions and limitations. The European automotive industry was severely hit and experienced a decline of over 20 percent in overall automotive production due to stringent supply chain disruption caused by imposed lockdowns. The automotive industry is one of the largest market for power management ICs. However, with the increasing demand for electric vehicles in the region, the outlook post COVID for the automotive industry seems to be favorable. With decreased income level, buyers opted to purchase necessities such as household goods and groceries instead of non-essential, big-ticket purchases like home theatres and LCD TVs. Other sectors that deploy power management ICs such as electric/electronics, manufacturing & construction, telecommunication network, also experienced a weak demand. COVID-19 has compelled manufacturers to streamline their production processes to tackle the unexpected disruption and resolve uncertain challenges like physical distancing. Considering increasing vaccination drives, demand is expected to recover by the end of 2022 with companies investing in making operations more productive and efficient.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe power management IC market. The Europe power management IC market is expected to grow at a good CAGR during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 11,342.18 Million |
| Market Size by 2028 | US$ 17,503.59 Million |
| CAGR (2021 - 2028) | 6.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product Type
|
|
Regions and Countries Covered
|
|
| Europe | UK, Germany, France, Russia, Italy, Rest of Europe |
| Market leaders and key company profiles |
|
The Europe Power Management IC Market is valued at US$ 11,342.18 Million in 2021, it is projected to reach US$ 17,503.59 Million by 2028.
As per our report Europe Power Management IC Market, the market size is valued at US$ 11,342.18 Million in 2021, projecting it to reach US$ 17,503.59 Million by 2028. This translates to a CAGR of approximately 6.4% during the forecast period.
The Europe Power Management IC Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Power Management IC Market report:
The Europe Power Management IC Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Power Management IC Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Power Management IC Market value chain can benefit from the information contained in a comprehensive market report.
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