The global DC-DC converter market size was USD 9.44 billion in 2020. The market is expected to grow from USD 9.69 billion in 2021 to USD 19.15 billion in 2028, exhibiting a CAGR of 10.2% during the forecast period. Robust demand for converters from portable electronic devices and their increasing applications in several industries are expected to nurture industry development. Fortune Business Insights™ presents this information in its report titled “DC-DC Converter Market, 2021-2028.”
DC-DC converters are high-frequency power conversion circuits that utilize high-frequency capacitors, transformers, switching, and inductors. The rising demand for converters from electronic devices is likely to foster product sales. Rapid digitization and the emergence of several 5G infrastructures are expected to boost the dependence upon smart and Internet of Things (IoT) enabled devices. Further, increasing product applications from medical, industrial, telecommunications, aerospace, and consumer electronics are expected to fuel the product adoption.
By type, the market is segmented into isolated and non-isolated. As per input voltage, it is classified into 5-36 V, 36-75 V, and 75V and above. Based on output voltage, it is categorized into 5V, 12V, 15V, and 15V and above. Based on end-user, it is segregated into healthcare, aerospace and defense, energy & power, consumer electronics, automotive, telecommunication, and others. Geographically, it is clubbed into North America, Europe, Asia Pacific, and the Rest of the World.
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Drivers and Restraints
Rising Adoption of Converters from Satellites and Electric Vehicles to Fuel Market Growth
DC-DC converter converts power from a DC power in low DC voltages to provide sufficient power for pumps, fans, window and wiper motors, interior lights, and power headlights. The rising popularity of electric vehicles is expected to boost its adoption from electric vehicle manufacturers. Rising electric vehicle sales lead to the adoption of high-quality components from manufacturers, thereby fostering converters sales. Furthermore, the product’s rising applications from satellites are expected to boost sales. The rising adoption of DC-DC power converters from Nano-satellites and small satellites for commercial and military applications is expected to fuel the industry’s progress. For example, Microchip Technology Inc. announced nearly nine novel products of its SA50-120 radiation-hardened power converter range in March 2021. These factors may drive the DC-DC converter market growth.
However, high-frequency noise and vibrations caused by the converters may hinder the industry’s progress.
Rapidly Developing Consumer Electronics Industry to Fuel Market Growth in Asia Pacific
Asia Pacific is expected to dominate the DC-DC converter market share due to the rapidly developing consumer electronics industry. The market in Asia Pacific stood at USD 3.14 billion in 2020 and is expected to gain a major portion of the global market share. Furthermore, rapid economic development and rapid penetration of electric vehicles in India are expected to boost converters’ adoption. These factors may propel industry development.
In North America, rising investments in hybrid electric vehicles (HEV) and electric vehicles (EV) are expected to boost the product’s adoption. Furthermore, the rising adoption of electric vehicles is expected to boost sales. For example, in 2020, new electric vehicle shares witnessed 2.4% incline, thereby increasing the product adoption.
In Europe, significant opportunities for the production of futuristic space-borne components and devices are expected to boost the adoption of the product. The study and development of next-generation space DC-DC converters are expected to fuel industry growth.
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Companies Launch Novel Products to Boost Brand Image
The prominent companies operating in the market launch novel products to attract consumers and boost brand image. For example, Sprint Power launched a Power Module Unit (PMU) in December 2021. It combines split 12V and 48V power systems and Battery Management System (BMS) and effectively packages it within a compact case that features an integrated cooling, heating, and paneling system. This strategy may enable the company to attract consumers and boost its brand image. Further, the adoption of research and development, partnerships, acquisitions, mergers, and expansions may enable companies to boost their market position.
- November 2021: CAES, a leading mission-critical electronics for aerospace and defense, announced its first isolated DC-DC converter designed for high throughput satellite payloads.
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List of Key Players Profiled in the Report:
- Texas Instruments (U.S.)
- Murata Manufacturing Co. Ltd. (Japan)
- General Electric (GE) (U.S.)
- Delta Electronics Inc.(Taiwan)
- Vicor Corporation (U.S.)
- Infineon Technologies (Germany)
- STMicroelectronics (Switzerland)
- TDK Corporation (Japan)
- ABB LTD (Switzerland)
- Advanced Energy Industries, Inc. (U.S.)
- Astronics Corporation (U.S.)
- Crane Co. (U.S.)
- BEL Fuse Inc. (U.S.)
- Meggitt Plc (U.K.)
- FDK Corporation (Japan)
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