PUBLISHER: KBV Research | PRODUCT CODE: 1450577
PUBLISHER: KBV Research | PRODUCT CODE: 1450577
The Global Gate Driver ICs Market size is expected to reach $2.2 billion by 2030, rising at a market growth of 5.2% CAGR during the forecast period. In the year 2022, the market attained a volume of 826.2 million units, experiencing a growth of 10.8% (2019-2022).
The Asia-Pacific region is a global manufacturing hub, with countries like China, Japan, and South Korea leading in electronics, semiconductor production, and industrial automation. Therefore, the Asia Pacific region captured $622.2 million revenue in the market in 2022. Gate driver ICs are essential components in industrial motor drives, robotics, machine tools, and factory automation systems, driving demand in the industrial sector.
The major strategies followed by the market participants are Partnerships, Collaborations & Agreements as the key developmental strategy to keep pace with the changing demands of end users. For instance, In November, 2023, Mitsubishi Electric Corporation formed a partnership with ModuleWorks GmbH. Under this partnership, the companies achieved technological development and digital transformation. Additionally, In June, 2023, Infineon Technologies AG entered into a partnership with Kontrol Technologies Corp. Through this partnership, autonomous driving technology enhanced to develop an algorithm-based solution which controls the legal controls and the boundary settings for vehicles.
Based on the Analysis presented in the KBV Cardinal matrix; Infineon Technologies AG and STMicroelectronics N.V. are the forerunners in the market. In June, 2023, STMicroelectronics signed an agreement with Sanan Optoelectronics. Through this agreement, the companies would be releasing a 200mm silicon carbide device in Chongqing, China. The company's' aim to support the demand for car electrification, industrial power and energy applications. Companies such as NXP Semiconductors N.V., Microchip Technology Incorporated, Renesas Electronics Corporation are some of the key innovators in the market.
Market Growth Factors
A key driver behind this expansion is the adoption of Industry 4.0 principles and smart manufacturing strategies. As these initiatives continue to evolve and expand globally, their demand is expected to further increase to support the growing needs of modern manufacturing.
Growing awareness of environmental issues and the need to reduce energy consumption drive the demand for energy-efficient devices. Consumers, businesses, and governments prioritize energy efficiency to minimize carbon emissions and mitigate climate change. Hence, rising demand for energy-efficient devices is propelling the market's growth.
Market Restraining Factors
Developing gate driver ICs requires substantial investment in research and development to design and test prototypes. Semiconductor companies allocate significant resources to R&D activities, including hiring skilled engineers, acquiring specialized equipment, and conducting feasibility studies, contributing to high development costs. Therefore, the high development costs are impeding the growth of the market.
By Transistor Analysis
Based on transistor type, the market is bifurcated into MOSFET and IGBT. The IGBT segment attained 29.9% revenue share in the market in 2022. IGBTs are known for their high-power handling capability, making them suitable for high-power applications such as motor drives, inverters, converters, and industrial automation systems. Gate driver ICs designed for IGBTs enable efficient and reliable power switching in these demanding applications.
By Semiconductor Material Analysis
On the basis of semiconductor material, the market is segmented into SiC and GaN. The SiC segment recorded 75.8% revenue share in the market in 2022. SiC offers higher breakdown voltages compared to traditional silicon-based materials. This property allows SiC devices to handle higher voltages, making them suitable for high-power applications such as electric vehicles, renewable energy systems, and industrial motor drives.
By Mode of Attachment Analysis
Based on mode of attachment, the market is categorized into on-chip and discrete. The discrete segment witnessed 39.5% revenue share in the market in 2022. Designers can tailor discrete solutions to specific application requirements, such as voltage ratings, current handling capabilities, and thermal management, without being constrained by the limitations of integrated ICs.
By Application Analysis
Based on application, the market is divided into industrial, commercial, and residential. The residential segment acquired 20.3% revenue share in the market in 2022. They facilitate efficient motor control, power conversion, and voltage regulation, improving energy efficiency and performance in residential appliances.
By Regional Analysis
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed 27.9% revenue share in the market in 2022. North America is witnessing a significant rise in the adoption of electric vehicles, driven by government incentives, environmental regulations, and growing consumer awareness of sustainable transportation solutions.
Recent Strategies Deployed in the Market
List of Key Companies Profiled
Global Gate Driver ICs Market Report Segmentation
By Transistor Type (Volume, Million Units, USD Billion, 2019-2030)
By Semiconductor Material (Volume, Million Units, USD Billion, 2019-2030)
By Mode of Attachment (Volume, Million Units, USD Billion, 2019-2030)
By Application (Volume, Million Units, USD Billion, 2019-2030)
By Geography (Volume, Million Units, USD Billion, 2019-2030)