Increase In Demand And Popularity Of Battery Charging IC In Automotive Sector Favors The Global Growth

The battery charging IC market is anticipated to witness a CAGR of 4.88% in the forecast period. Rising popularity of electric vehicles (EVs) among the global populace and expansion of automotive sector will boost industry growth in the forecast period. 

These cordless chargers IC are analog devices that supports a range of applications including wearable devices, lithium-ion (Li-Ion) battery, industrial monitoring, and PV cell energy harvesting. Battery chemistries have exclusive requirements for their charge method that is essential for safety, maximizing capacity, and cycle life. Besides, permanency and presentation of rechargeable batteries depend on the superiority of the charger IC and it applies a fixed charge rate of around 0.1C. 

Drivers, Restraints, and Opportunities

Growing applications that use battery management ICs primarily in the automobile and wearable electronics sectors will escalate the market growth in the projected period. Features such as on-chip battery pre-conditioning, monitoring and protection, battery management and safety, support for high voltage, temperature-controlled charging, and current limiting will show a positive impact on overall industry growth in the near future. 

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Factors such as fluctuating raw material cost and intricacy will hamper product demand in the forecast period. These advanced ICs will minimize charging time and will maximize fuel capacity thus, expected to create new opportunities in the forecast period.

The battery charging IC industry is categorized based on product, applications, and regions. Based on product, the industry is categorized into buck/boost battery chargers, linear battery chargers, SMBus/I2C/SPI controlled battery chargers, switching battery chargers, pulse battery chargers, and module battery chargers. Based on applications, the industry is categorized into nickel-cadmium (NiCd) battery, Li-Ion/Li-polymer battery, lead-acid battery, and others. Geographically, the industry is categorized into South America, China, Southeast Asia, the USA, India, Europe, Korea, and Japan.

Globally, Europe is anticipated to witness the fastest growth rate owing to rising penetration of EVs in Netherland.

Rising government initiatives like incentives to EV producers, the presence of key manufacturers and increasing demand for electronic systems will escalate product demand in this region. In addition, rising adoption of digital cameras, mobile phones, e-scooters, night vision devices, and MP3 players will show a positive impact on overall industry growth in the forecast period. Furthermore, rising disposable income and increasing population in the region will stimulate the demand for electronic devices and passenger cars. This, in turn, will thrust industrial growth in this region.

Key players of the battery charging IC market include New Japan Radio, TI, Semtech, NXP, Fairchild, Analog Devices, Torex, IDT, Rohm, Toshiba, Maxim Integrated, Vishay, Microchip Technology, STMicroelectronics, and Diodes Incorporated. These players are concentrating on product expansion, acquisition & mergers, R&D activities, collaboration, and partnership. Also, these players will expand their geographic reach across developing countries like India in the coming years.