Gate Driver IC Market Outlook 2031
The global gate driver IC market size was valued at USD 1.32 Billion in 2022 and is projected to reach USD 2.05 Billion by 2031, expanding at a CAGR of 5% during the forecast period 2023 - 2031. The growth of the market is attributed to the development in the energy & power industry. Furthermore, growing adoption of advanced technology is expected to boost the market growth.
A gate driver IC is an integrated circuit chip, also known as power amplifier, which accepts a low-power input from the controller IC and produces a high-current drive input for high-power transistor. It is used in controlling power dissipation, current flow, heat flow, and initiates smooth switching actions in high-power transistor gates, such as MOSFET and IGBT. Gate driver IC can be provided either on-chip or as a discrete module and usually consists of a level shifter in combination with an amplifier.
Gate driver ICs are utilized in major home appliances, industrial motor drives, solar invertors, UPS, switched mode power supplies, and high-voltage lightning among others. Various renewable energy system are using gate driver ICS to save energy and for smooth operations.
Gate Driver IC Market Drivers, Restraints, Trends, and Opportunities
- Increasing demand for high voltage operating devices in various industry verticals is expected to spur the gate driver IC market growth.
- Increasing electrification in the automotive industry is attributed to propel the growth of the global gate driver IC market.
- Ongoing advancement in the smart homes & smart grid technologies are expected to foster the growth of the market.
- Design complexities can act as a major barrier of the gate driver IC market growth.
- Rising investment in renewable energy systems and various initiatives and awareness programs deployed by several government bodies are anticipated to drive the demand of gate driver ICs during the forecast period.
Scope of Gate Driver IC Market Report
The report on the global smart refrigerators market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Gate Driver IC Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (On-Chip, Discrete Module, and Others) and Applications (Industrial, Automotive, Consumer, and Others)
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Regional Scope
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North America, Latin America, Europe, Asia Pacific and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Infineon Technologies, NXP Semiconductors, Renesas Electronics, Texas Instruments Incorporated, Mitsubishi Electric, Dialog Semiconductor PLC, STMicroelectronics, Toshiba, Maxim Integrated, ROHM Semiconductor, Semtech, Fairchild Semiconductor, and ON Semiconductor
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Global Gate Driver IC Market Segment Insights
On-chip segment to grow at a steady rate
Based on types, the market is bifurcated into on-chip and discrete. The on-chip segment to grow at a steady rate during the forecast period Low cost of the on-chip and high performance of gate driver ICs are driving the segment growth. This is due to the less usage of components in on-chip type product, which makes it more feasible for manufacturers.
Industrial segment to exhibit a robust CAGR
In terms of applications, the market is classified as industrial, automotive, consumer, and others. The industrial segment to exhibit a robust CAGR during the forecast period. Increasing inclination toward usage of renewable energy is expected to foster the segment growth.
The automobile segment to grow at a steady pace during the forecast period. Gate driver IC plays a prominent role in electric vehicles. It is used in on-board chargers, grid-supporting energy storages, and high-power chargers. Rapid growth in the electric charging infrastructure industry is driving the automobile segment.
Asia Pacific to exhibit a high CAGR
Based on regions, the market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America and Europe accounted for a significant market share owing to the presence of key gate driver IC manufacturers. Conversely, the market in Asia-Pacific is expected to exhibit a high CAGR during the forecast period. Increasing demand for high voltage operating devices in various sectors is driving the regional market growth.
Segments
The Global Gate Driver IC Market has been segmented on the basis of
Types
- On-Chip
- Discrete Module
- Others
Applications
- Industrial
- Automotive
- Consumer
- Others
Regions
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key Players
Competitive Landscape
The key players in the Gate driver IC market include Infineon Technologies, NXP Semiconductors, Renesas Electronics, Texas Instruments Incorporated, Mitsubishi Electric, Dialog Semiconductor PLC, STMicroelectronics, Toshiba, Maxim Integrated, ROHM Semiconductor, Semtech, Fairchild Semiconductor, and ON Semiconductor.
Companies are engaging in partnerships, acquisitions, and mergers to expand their market share.