The power management IC market in Europe is expected to grow from US$ 11,342.18 million in 2021 to US$ 17,503.59 million by 2028; it is estimated to grow at a CAGR of 6.4% from 2021 to 2028.
The adoption of electric vehicles is growing tremendously across the region. Sales of electric vehicles (EVs) have increased in the Europe markets. The Power management plays a significant role with respect to the efficiency of the device, be it an ultra-low-power wireless sensor network or automotive high-voltage power converter. With a rise in requirement for proper power management, companies are looking at manufacturing customized power management integrated chips. The stringent emission norms in European countries are driving the demand for electric vehicles to a notable extent. Thus, respective policies, norms, incentives, and subsidies promote the sales of electric vehicles across the region. A PMIC is widely used in various automotive applications, such as ADAS, infotainment, battery management, navigation, telematics, and automotive cluster. Thus, rising sales for electric vehicles drive the demand for highly integrated system PMIC for applications requiring up to 8.5 A and high power PMIC used in quad-core processors up to 12 A. The automotive sector is a major contributor in the growth of the power management IC market across the region
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The impact of COVID-19 differed from country to country across the Europe region as selected countries experienced an increase in the number of recorded cases and subsequently attracted strict and more extended lockdown periods or social isolation. Germany, Italy, United Kingdom, Russia, and France are the countries that were most affected by various restrictions and limitations. The European automotive industry was severely hit and experienced a decline of over 20 percent in overall automotive production due to stringent supply chain disruption caused by imposed lockdowns. The automotive industry is one of the largest market for power management ICs. However, with the increasing demand for electric vehicles in the region, the outlook post COVID for the automotive industry seems to be favorable. With decreased income level, buyers opted to purchase necessities such as household goods and groceries instead of non-essential, big-ticket purchases like home theatres and LCD TVs. Other sectors that deploy power management ICs such as electric/electronics, manufacturing & construction, telecommunication network, also experienced a weak demand.
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NXP Semiconductors
Analog Devices, Inc.
INFINEON TECHNOLOGIES AG
ROHM CO., LTD.
Microchip Technology Inc.
Vishay Intertechnology, Inc.
Renesas Electronics Corporation
STMicroelectronics
Texas Instruments Incorporated
Qorvo, Inc.
1) Segments Covered
By Product Type
- Voltage Regulators
- Motor Control
- Battery Management
- Multi-Channel ICs
By End-Use
- Consumer Electronics
- Automotive
- Healthcare
- IT and Telecom
- Industrial
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The Power Management IC (PMIC) market represents a critical segment within the broader semiconductor industry, playing an indispensable role in ensuring efficient and reliable power delivery across a vast spectrum of electronic devices. These integrated circuits are fundamental to optimizing battery life, regulating voltage, and managing power consumption in everything from smartphones and laptops to industrial equipment and automotive systems.
The market’s growth is intrinsically linked to the increasing complexity and power demands of modern electronics, driven by trends such as the proliferation of portable and wearable devices, the expansion of the Internet of Things (IoT), and the electrification of vehicles. PMICs are not merely about converting and distributing power; they are about doing so intelligently, with features like dynamic voltage scaling, thermal management, and sophisticated protection mechanisms becoming increasingly vital. The rising complexity of semiconductor designs, particularly in advanced processors and SoCs, necessitates more intricate and efficient power management solutions. As devices become smaller and more powerful, the challenge of managing heat dissipation and ensuring stable power delivery becomes paramount, driving demand for advanced PMICs capable of handling these complexities.
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