Latest News- Motor Driver Board Market: Low voltage motor drivers is expected to lead the Product segment during 2025-2029

The Motor Driver Board Market is being driven by Rising demand for electric vehicles (EVs)

The Motor Driver Board Market is expected to grow at a CAGR of 8.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2071.4 million. The global motor driver board market is experiencing significant growth, with an increasing number of new product introductions. On August 6, 2024, STMicroelectronics unveiled the EVLDRIVE101-HPD, a compact and innovative motor-drive reference board, showcasing the industry's dedication to catering to diverse application requirements. Featuring the STDRIVE101 3-phase gate-driver IC, STM32G0 microcontroller, and high-efficiency MOSFETs, this 50mm circular PCB board is designed for home, industrial, and battery-powered equipment. The EVLDRIVE101-HPD supports flexible motor-control strategies and boasts advanced energy efficiency, consuming less than 1 microampere in sleep mode. Additionally, it includes essential protections such as under-voltage lockout (UVLO) and overtemperature safeguards. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising demand for electric vehicles (EVs)
• Expansion of industrial automation and robotics
• Growth of consumer electronics in emerging markets

However, the market also witnesses some limitations, which are as follows:

• Supply chain disruptions
• Environmental concerns
• Regulatory compliance

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Market Scope in Motor Driver Board Market Research Report

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Research Analysis Overview

The Motor Driver Board Market encompasses various motor types such as stepper motors and brushless DC motors, along with advanced motor control, motor control algorithms, and power management. Smart grid technologies, energy harvesting, and sustainable energy are key trends, with applications in smart home automation, IoT, renewable energy solutions, and electric vehicle technology. Power electronics design, robotics and automation, industrial robotics, and environmental concerns are other significant areas. Motor control in electric vehicle drivetrains and wireless motor control are also gaining traction. Green technology and renewable energy solutions are at the forefront of market growth.

Market Research Overview

The Motor Driver Board Market is a significant segment of the expansive Global Electrical Components and Equipment Market. This market encompasses businesses involved in the production of motor driver boards, a critical component in the operation of motors in various applications, including renewable energy sources and smart homes. The larger electrical components and equipment market, as calculated by Technavio, includes revenues from manufacturers of water heaters and accessories, motors, motor control, encoder and amplifier, automation solutions, electrical distribution and protection equipment, small generators, wire and cable accessories, power supplies and conditioners, sensors, meters and indicators, recorders and loggers, process safety systems, instrumentation, test and measurement equipment, switches, transmitters and receivers, HVAC, and safety components. Furthermore, the market size is augmented by rental and leasing services of electrical components and equipment to industrial, commercial, and residential consumers.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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