Automotive Motor Drivers Market Size, Share, Growth Analysis, By Application(Electric Vehicle, Hybrid Vehicle, Commercial Vehicle), By Voltage Rating(Low Voltage and High Voltage), By Region - Industry Forecast 2024-2031

Automotive Motor Drivers Market size was valued at USD 5.03 billion in 2022 and is poised to grow from USD 5.44 billion in 2023 to USD 10.14 billion by 2031, at a CAGR of 8.1% during the forecast period (2024-2031).

The market has become extremely competitive as a result of the numerous domestic and foreign players that are present there. The expansion of the industry is hampered by fierce rivalry, quick technological advancements, and regulations. The market's current manufacturers exhibit a high degree of competition. According to the results of our analysis, industry participants have utilised a variety of tactics and cutting-edge R&D methodologies to grow their companies and maintain their positions in the worldwide Automotive Motors market. 'Robert Bosch GmbH (Germany)', 'NXP Semiconductors N.V. (Netherlands)', 'Infineon Technologies AG (Germany)', 'Texas Instruments Incorporated (US)', 'STMicroelectronics (Switzerland)', 'Renesas Electronics Corporation (Japan)', 'Toshiba Corporation (Japan)', 'Mitsubishi Electric Corporation (Japan)', 'ON Semiconductor Corporation (US)', 'Maxim Integrated Products, Inc. (US)', 'Melexis NV (Belgium)', 'Allegro MicroSystems, LLC (US)', 'ROHM Semiconductor (Japan)', 'Analog Devices, Inc. (US)', 'Continental AG (Germany)', 'DENSO Corporation (Japan)', 'Hitachi Automotive Systems, Ltd. (Japan)', 'HELLA GmbH & Co. KGaA (Germany)', 'Magna International Inc. (Canada)', 'ZF Friedrichshafen AG (Germany)', 'Aptiv PLC (Ireland)', 'Valeo SA (France)'

Modern automobiles are equipped with a range of features such as power windows, power seats, and sunroofs that rely on motor drivers for operation. These devices are responsible for converting the electrical signals from the vehicle's control system into the power needed to operate various motors in the vehicle, such as those used for power windows, power seats, and windshield wipers.

SiC and GaN are wide-bandgap semiconductor materials that offer several advantages over traditional silicon-based motor driver technologies. SiC and GaN technologies have lower resistance and switching losses than traditional silicon-based motor drivers, which results in improved efficiency and reduced power consumption. Higher operating temperatures devices can operate at higher temperatures than traditional silicon-based devices, which enables more compact and efficient motor driver designs.

The dominant segment in this region is the infotainment application, with a CAGR of 10.2% during the forecast period. The Asia Pacific region is expected to have the largest market share due to the growing automotive industry, increasing disposable income, and government initiatives to promote the adoption of electric vehicles.