The Europe Gate Driver ICs Market would witness market growth of 4.7% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 97.4 million units, showcasing a growth of 10.5% (2019-2022).
One of the primary drivers propelling the market forward is the burgeoning demand for energy-efficient solutions. It offers a compelling solution by enabling the precise control and management of power flows, thereby minimizing wastage and maximizing system efficiency. From industrial automation and renewable energy systems to electric vehicles and consumer electronics, the versatility of these ensures their pervasive presence in the quest for sustainable energy solutions.
The rapid proliferation of electric vehicles (EVs) and renewable energy sources further amplifies the significance of gate driver ICs in shaping the future of transportation and power generation. As nations pivot towards cleaner and more sustainable energy alternatives, their demand in EV powertrains, battery management systems, and renewable energy inverters continues to soar. These ICs empower EV manufacturers and renewable energy providers to realize unprecedented performance, reliability, and efficiency levels, driving the transition toward a greener and more sustainable future.
As Italy shifts towards electric mobility to reduce greenhouse gas emissions and air pollution, there is a growing demand for electric vehicle components, including these. According to the International Trade Administration (ITA), Italy's automotive industry exhibited resilience and growth in 2021, witnessing the production of 797,243 vehicles, marking a notable 2.6% increase from the previous year. Simultaneously, the country experienced a surge in new car registrations, with 1,457,952 units recorded, reflecting a 5.5% rise compared to the preceding year. Therefore, the rising production of EVs in the region is driving the growth of the market.
The Germany market dominated the Europe Gate Driver ICs Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $120.1 Million by 2030. The UK market is exhibiting a CAGR of 3.7% during (2023 - 2030). Additionally, The France market would experience a CAGR of 5.5% during (2023 - 2030).
Free Valuable Insights: The Global Gate Driver ICs Market will Hit $2.2 Billion by 2030, at a CAGR of 5.2%
Based on Transistor Type, the market is segmented into MOSFET, and IGBT. Based on Semiconductor Material, the market is segmented into SiC, and GaN. Based on Mode of Attachment, the market is segmented into On-chip, and Discrete. Based on Application, the market is segmented into Industrial, Commercial, and Residential. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
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 Country (Volume, Million Units, USD Billion, 2019-2030)
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