Report : South and Central America Motor Driver IC Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Motor Type (Brushed DC Motor, Brushless DC Motor, and Stepper Motor), Semiconductor (Gallium Nitrate (GaN), and Silicon Carbide (SiC)), Semiconductor (Automotive, Aerospace and Defense, Industrial Automation, Consumer Electronics, and Healthcare)
Brushed DC Motor Segment has the Largest Share of Motor Type in the South & Central America Motor Driver IC Market during 2021–2028
According to our latest study on “South & Central America Motor Driver IC Market Forecast to 2028 – COVID-19 Impact and Analysis – by Motor Type, Semiconductor, and Application,” the market is projected to reach US$ 334.1 million by 2028 from US$ 267.0 million in 2021; it is expected to grow at a CAGR of 3.3% from 2021 to 2028. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the growing production of consumer electronics and increasing adoption of internet of things (IoT) across Industries. However, accuracy over a high current range is estimated to limit the market’s growth.
Brazil has reported the highest number of COVID-19 cases in South America, followed by Ecuador, Chile, Peru, and Argentina, among others. Most of the commercial and industrial operations in the region were shut down to prevent the spread of the disease. Lockdowns imposed in cities have compelled most production plant operators to suspend their operation indefinitely, which has led to the discontinuation in the demand for mechanical and electronic parts during Q2 and Q3 of 2020. Therefore, during that period, the motor driver IC market witnessed decline in revenues, however, by the end of 2020, the market observed marginal positive growth as several end user industries purchased substantial volumes of motor driver ICs to continue their business operations.
Based on motor type, the brushed DC motor segment is expected to register the largest market share during the forecast period. However, the stepper motor segment is estimated to register the highest CAGR during the forecast period. In 2021, stepper motors are currently one of the most used motor types in medical analyzers. Furthermore, stepper motors are in high demand in X-ray equipment, ultrasound scanners, IV pumps, and blood analyzers. Stepper motors in fans for cooling are used in recent technical breakthroughs in the healthcare business, such as oxygen concentrators. Stepper motors are useful for medical applications because of their small size and minimal noise.
Toshiba Corporation, Mitsubishi Electric Corporation, Texas Instruments Incorporated, Allegro MicroSystems, Inc., ROHM CO., LTD., ON Semiconductor Corporation, INFINEON TECHNOLOGIES AG, and Analog Devices, Inc. are among the leading companies in the South & Central America motor driver IC market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The market for motor driver IC market is segmented into motor type, semiconductor, and application. Based on motor type, the South & Central America motor driver IC market is segmented into brushed DC motor, brushless DC motor, and stepper motor. Based on semiconductor, the South & Central America motor driver IC market is segmented into gallium nitrate (GaN), and silicon carbide (SiC). Based on application, the motor driver IC market is segmented into automotive, aerospace and defense, industrial automation, consumer electronics, and healthcare. Geographically, the motor driver IC market is segmented into South & Central America (Brazil, Rest of South & Central America).
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