The motor control IC market size is expected to grow from US$ 4,932.4 Mn in 2022 to ~US$ 6,344.2 Mn by 2027. Demand for motor control IC is anticipated to grow at a CAGR of 5.2% during 2022-27.
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Motor control ICs can be subdivided into 32-bit embedded power motor control ICs, intelligent motor control ICs and digital motor control ICs. Motor control ICs are used in industries such as automotive and medical applications and as industrial intelligent motor/actuator controllers. Motor control ICs are typically connected to power supplies and control circuitry in the form of digital and analog input signals.
The global motor control IC market is expected to grow at a CAGR of 5.0% during the forecast period. The motor control IC market was valued at US$ 3,905.0 million in 2017 and is projected to reach US $ 6,344.2 million by 2027, driven by increasing use of motor control ICs in medical device manufacturing and automotive industries.
In this report, FMI has segmented the global Motor Control IC market by type, industry, and region. By Type, the Motor Control IC market is segmented into Brushed DC Motors, Brushless DC Motors, and Stepper Motors. The brush DC motor subsegment of the global motor control IC market is expected to register a 52.6% market share at the end of 2018. Additionally, in terms of volume, the Brushless DC Motor subsegment is also expected to register a CAGR, generating an opportunity of $617.7 million between 2018-2027, with a growth rate of 6.0% in the Motor Control IC market during the forecast period.
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By industry, the global motor control IC market is segmented into automotive, building control, industrial automation, consumer electronics, medical, and others. In terms of value, the motor control IC market in the industrial automation industry is expected to grow at a CAGR of 6.3% during the forecast period. In addition, the growing demand for motor control ICs in industrial automation is one of the major factors driving the market. Additionally, the industrial automation industry is projected to create an incremental opportunity of $644.9 million between 2018 and 2027 in the Motor Control IC Market.
Additionally, the report covers the trends driving all segments and provides insights and analysis of the market’s growth potential across different regions, including Latin America (Brazil, Mexico and the rest of Latin America), and North America (USA and Canada). ), Europe (Germany, Italy, France, Spain, UK and other European countries), Japan, APEJ (China, India, Malaysia, Australia, Singapore and the rest of the APEJ) and MEA (GCC countries, Israel, South Africa and the rest of the MEA). Europe’s revenue contribution is expected to increase at a CAGR of 6.2% over the forecast period. Technological advances and constant innovation in the motor control IC market are accelerating the adoption of motor control ICs in this region.
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According to FMI analysis, sales are expected to increase with strategies such as product innovation and quality improvement, which will allow motor control IC suppliers to reach new growth markets. As one of the prominent suppliers of motor control ICs, Infineon Technologies AG offers motor control ICs for a variety of applications such as commercial and industrial. FMI analysis shows that Infineon Technologies AG is upgrading its existing products to strengthen its customer base by improving the customer experience. Some of the Participants in the Global Motor Control IC Market Report are Rockwell Automation, General Electric Company, ON Semiconductor, Siemens AG, Toshiba Corporation, ABB Ltd., Schneider Electric SE, Maxim Integrated, and NXP Semiconductors.