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
The Pandemicโs Ripple Effect: COVID-19โs Impact on the European PMIC Market and the EV-Driven Recovery
The COVID-19 pandemic cast a long shadow over the global economy, and Europe was no exception. The region experienced a wave of lockdowns and social distancing measures, varying in intensity and duration across different countries. Nations like Germany, Italy, the United Kingdom, Russia, and France bore the brunt of the pandemic, facing prolonged restrictions that significantly impacted their industrial sectors. Among these, the automotive industry, a critical consumer of Power Management Integrated Circuits (PMICs), suffered a substantial blow.
A Region Divided: The Varied Impact of COVID-19
The pandemicโs impact was far from uniform across Europe. While some countries managed to contain the virus with relatively less stringent measures, others faced a surge in cases that necessitated prolonged lockdowns. This disparity created a fragmented economic landscape, with varying degrees of disruption to supply chains and consumer demand.
The countries that experienced the most severe outbreaks and subsequent lockdowns, such as those mentioned previously, saw a significant decline in industrial activity. This was particularly evident in the automotive sector, where production lines ground to a halt due to supply chain disruptions and a sharp drop in consumer demand.
https://sites.google.com/view/bmi-100/homeAdapting to the New Normal: Streamlining Production and Addressing Challenges
The pandemic forced manufacturers to adapt to a new reality, characterized by unexpected disruptions and uncertain challenges. Companies had to streamline their production processes to mitigate the impact of supply chain disruptions and implement measures to ensure the safety of their workforce, such as physical distancing and enhanced hygiene protocols.
The pandemic also highlighted the need for greater resilience in supply chains. Companies are now looking to diversify their sourcing and build more robust supply networks to minimize the impact of future disruptions.
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