DC-DC Converters Market Size, Share, and Growth Analysis

Global DC-DC Converters Market

DC-DC Converters Market By Vertical (Telecommunication, Automotive), By Form Factor (SIP, DIP), By Input Voltage (<12v, 9-36v), By Output Voltage (<2v, 3.3v), By Output Power, By Output Number, By Product Type, By Isolation Working Voltage, By Region - Industry Forecast 2025-2032


Report ID: SQMIG25A2072 | Region: Global | Published Date: March, 2025
Pages: 223 |Tables: 59 |Figures: 75

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DC-DC Converters Market Insights

Global DC-DC Converters Market size was valued at USD 16.3 billion in 2023 and is poised to grow from USD 21.42 billion in 2024 to USD 190.35 billion by 2032, growing at a CAGR of 31.4% during the forecast period (2025-2032). 

Global DC-DC converters market is driven by the need for efficient power management, the growth of electronic devices and industries, technological advancements, the expansion of electric vehicles and renewable energy systems, and the demand for reliable power supply in telecommunications and industrial sectors. The trend of industrial automation and the implementation of smart manufacturing techniques have boosted the demand for DC-DC converters. These converters are used in industrial control systems, robotics, motor drives, and other automation applications to provide precise and regulated power to various components. Also, with the proliferation of electronic devices such as smartphones, tablets, wearable devices, and Internet of Things (IoT) devices, the demand for compact and efficient power management solutions has surged. DC-DC converters play a crucial role in providing the required voltage levels for these devices. Moreover, the rapid growth of the electric vehicle market has significantly contributed to the demand for DC-DC converters. These converters are essential for converting high-voltage battery power to the required levels for various vehicle subsystems, including electric motors, onboard chargers, and auxiliary systems. Furthermore, technological advancements in power electronics have led to the development of more efficient and reliable DC-DC converters. These advancements include the integration of advanced semiconductor materials, improved circuit designs, and enhanced thermal management techniques.

US DC-DC Converters Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2025-2032

Global Market Size

USD 16.3 billion

Largest Segment

Non-Isolated DC-DC Converters

Fastest Growth

Non-Isolated DC-DC Converters

Growth Rate

31.4% CAGR

Global DC-DC Converters Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)

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DC-DC Converters Market Segments Analysis

Global DC-DC Converters Market is segmented by Vertical, Form Factor, Input Voltage, Output Voltage, Output Power, Output Number, Product Type, Isolation Working Voltage and region. Based on Vertical, the market is segmented into Telecommunication, Automotive, Industrial Robots, Service Robots, Aerospace and Defense, Medical, Railway, Server, Storage and Network, Consumer Electronics, Energy and Power and Marine. Based on Form Factor, the market is segmented into SIP, DIP, DIN Rail, Box, Chassis Mount, Discrete and Brick. Based on Input Voltage, the market is segmented into <12v, 9-36v, 18-75v, 40-160v and >200v. Based on Output Voltage, the market is segmented into <2v, 3.3v, 5v, 12v, 15v, 24v and >24v. Based on Output Power, the market is segmented into 0.5-9W, 10-29W, 30-99W, 100-250W, 250-500W, 500-1000W and >1000W. Based on Output Number, the market is segmented into Single, Dual, Triple and Multiple. Based on Product Type, the market is segmented into Isolated DC-DC Converter and Non-Isolated DC-DC Converter. Based on Isolation Working Voltage, the market is segmented into 50-150V, 150-250V, 200-1000V, 1000-2500V and >2500V. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.  

DC-DC Converters Market Analysis by Type

By type, the market can be segmented into non-isolated DC-DC converters and isolated DC-DC converters. Non-isolated DC-DC converters are expected to hold the larger market share due to their wide application in various industries. The increasing demand for power-efficient, portable devices with longer battery life, and the growing adoption of electric vehicles are expected to drive the demand for non-isolated DC-DC converters during the forecast period.

Isolated DC-DC converters are expected to witness significant growth in the coming years, owing to their increasing adoption in applications where high levels of voltage isolation are required. The growing demand for medical equipment, industrial automation, and military and aerospace applications is expected to drive the growth of the isolated DC-DC converters segment.

DC-DC Converters Market Analysis by Application

By application, the market can be segmented into automotive and industrial. The automotive segment is dominated the global market share due to the increasing adoption of electric vehicles and the growing demand for power-efficient, portable devices in automobiles. The use of DC-DC converters in electric vehicles for converting high voltage DC power from the battery to lower voltage DC power for various applications such as electric motors, lights, and dashboard instruments is expected to drive the demand for DC-DC converters in the automotive industry during the forecast period.

The industrial segment is expected to witness significant growth in the coming years due to the increasing adoption of automation and robotics in industries such as manufacturing, healthcare, and aerospace. DC-DC converters are widely used in industrial applications to regulate the voltage supply and ensure efficient power management. The growing need for energy-efficient industrial equipment, coupled with the increasing demand for renewable energy sources, is expected to drive the demand for DC-DC converters in the industrial sector.

Global DC-DC Converters Market Size By Type, 2021 (%)

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DC-DC Converters Market Regional Insights

Due to the existence of significant producers and suppliers of electronic goods including smartphones, laptops, and electric cars, North America dominated the global market. The region also boasts a strong infrastructure and a high degree of technical development, which increases demand for DC-DC converters. In North America, the adoption of electric vehicles and renewable energy sources is anticipated to increase demand for DC-DC converters.

APAC is the fastest-growing region in the global DC-DC converter market, owing to the presence of major electronic device manufacturers in countries such as China, Japan, South Korea, and Taiwan. The region is characterized by a large population and increasing disposable income, which drives the demand for electronic devices, thereby fueling the growth of the DC-DC converter market. Additionally, the increasing adoption of renewable energy sources and electric vehicles in the region is expected to drive the demand for DC-DC converters in the coming years.

Global DC-DC Converters Market By Geography, 2021-2030
  • Largest
  • Fastest

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DC-DC Converters Market Dynamics

DC-DC Converters Market Drivers

Increasing demand for electronic devices

  • One major driver of the global DC-DC converter market is the increasing demand for electronic devices, such as smartphones, laptops, and electric vehicles, which require efficient power management solutions. DC-DC converters are widely used in these devices to provide the correct voltage level for their operation, thereby increasing efficiency and extending battery life. The growth of renewable energy and electric vehicles is also expected to boost the demand for DC-DC converters, as these applications require efficient power management solutions to maximize energy output and minimize energy loss.

DC-DC Converters Market Restraints

High cost associated with the design and manufacturing

  • One major restraint of the global DC-DC converter market is the high cost associated with the design and manufacturing of these devices. The complex design of DC-DC converters requires specialized knowledge and expertise, which can increase the cost of production. Additionally, the availability of low-cost alternatives, such as linear regulators, can pose a challenge to the growth of the DC-DC converter market. Furthermore, the stringent regulatory requirements and standards for safety and electromagnetic interference (EMI) can also pose a challenge for manufacturers to comply with, increasing the cost and time-to-market.

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DC-DC Converters Market Competitive Landscape

The global DC-DC converter market is highly competitive, with several established players and new entrants competing for market share. Companies operating in the market are focusing on product innovation and development to meet the growing demand for efficient power management solutions. They are also investing in research and development activities to improve the performance and efficiency of DC-DC converters. Additionally, strategic partnerships and collaborations with other companies are also common in the market. Other key competitive strategies include mergers and acquisitions, geographic expansion, and pricing strategies, among others.

Top Players in DC-DC Converters Market

  • Texas Instruments (USA) 
  • Analog Devices, Inc. (USA) 
  • Infineon Technologies AG (Germany) 
  • Vicor Corporation (USA) 
  • Renesas Electronics Corporation (Japan) 
  • Murata Manufacturing Co., Ltd. (Japan) 
  • Delta Electronics, Inc. (Taiwan) 
  • TDK Corporation (Japan) 
  • Mean Well Enterprises Co., Ltd. (Taiwan) 
  • XP Power (UK) 
  • Bel Fuse Inc. (USA) 
  • RECOM Power GmbH (Austria) 
  • Puls Power GmbH (Germany) 
  • Artesyn Embedded Technologies (USA) 
  • Mornsun Guangzhou Science & Technology Co., Ltd. (China) 
  • Flex Ltd. (Singapore) 
  • Power Integrations, Inc. (USA) 
  • Ericsson Power Modules (Sweden) 
  • Advanced Energy Industries, Inc. (USA) 
  • ROHM Semiconductor (Japan) 

DC-DC Converters Market Recent Developments

  • In March 2023, Texas Instruments Inc. announced the launch of its new isolated DC-DC converter, designed for use in medical and industrial applications.
  • In February 2023, CUI Global, Inc. announced a partnership with Mouser Electronics to distribute its DC-DC converters and other power management solutions.
  • In January 2023, Infineon Technologies AG announced the launch of its new DC-DC converter module, designed for use in automotive and industrial applications.
  • In August 2022, ON Semiconductor Corporation announced the launch of its new ultra-low-profile DC-DC converter, designed for use in wearable and portable devices.
  • In June 2022, Delta Electronics, Inc. announced a partnership with BMW to provide DC-DC converters for use in BMW's electric vehicles.
  • In May 2022, Vicor Corporation announced the launch of its new high-density DC-DC converter, offering high power density and high efficiency for use in telecom, data center, and automotive applications.

DC-DC Converters Key Market Trends

DC-DC Converters Market SkyQuest Analysis

SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global DC-DC converter market analysis, the market is expected to grow significantly in the coming years due to the increasing demand for electronic devices, such as smartphones and laptops, and the growing adoption of renewable energy and electric vehicles. DC-DC converters play a critical role in providing efficient power management solutions for these applications, thereby increasing their efficiency and extending their battery life. The market is highly competitive, with several established players and new entrants competing for market share. Key competitive strategies include product innovation, mergers and acquisitions, geographic expansion, and strategic partnerships. The market is also witnessing the adoption of advanced packaging technologies, such as SiP and MCM, which enable the integration of multiple components and functions into a single package.

Report Metric Details
Market size value in 2023 USD 16.3 billion
Market size value in 2032 USD 190.35 billion
Growth Rate 31.4%
Base year 2024
Forecast period 2025-2032
Forecast Unit (Value) USD Billion
Segments covered
  • Vertical
    • Telecommunication, Automotive, Industrial Robots, Service Robots, Aerospace and Defense, Medical, Railway, Server, Storage and Network, Consumer Electronics, Energy and Power, Marine
  • Form Factor
    • SIP, DIP, DIN Rail, Box, Chassis Mount, Discrete, Brick
  • Input Voltage
    • <12v, 9-36v, 18-75v, 40-160v, >200v
  • Output Voltage
    • <2v, 3.3v, 5v, 12v, 15v, 24v, >24v
  • Output Power
    • 0.5-9W, 10-29W, 30-99W, 100-250W, 250-500W, 500-1000W, >1000W
  • Output Number
    • Single, Dual, Triple, Multiple
  • Product Type
    • Isolated DC-DC Converter, Non-Isolated DC-DC Converter
  • Isolation Working Voltage
    • 50-150V, 150-250V, 200-1000V, 1000-2500V, >2500V
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Texas Instruments (USA) 
  • Analog Devices, Inc. (USA) 
  • Infineon Technologies AG (Germany) 
  • Vicor Corporation (USA) 
  • Renesas Electronics Corporation (Japan) 
  • Murata Manufacturing Co., Ltd. (Japan) 
  • Delta Electronics, Inc. (Taiwan) 
  • TDK Corporation (Japan) 
  • Mean Well Enterprises Co., Ltd. (Taiwan) 
  • XP Power (UK) 
  • Bel Fuse Inc. (USA) 
  • RECOM Power GmbH (Austria) 
  • Puls Power GmbH (Germany) 
  • Artesyn Embedded Technologies (USA) 
  • Mornsun Guangzhou Science & Technology Co., Ltd. (China) 
  • Flex Ltd. (Singapore) 
  • Power Integrations, Inc. (USA) 
  • Ericsson Power Modules (Sweden) 
  • Advanced Energy Industries, Inc. (USA) 
  • ROHM Semiconductor (Japan) 
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on DC-DC Converters Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on DC-DC Converters Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the DC-DC Converters Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the DC-DC Converters Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

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Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

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FAQs

DC-DC Converters Market size was valued at USD 15.75 Billion in 2023 and is poised to grow from USD 20.51 Billion in 2024 to USD 169.39 Billion by 2032, growing at a CAGR of 30.20% during the forecast period (2025-2032).

The global DC-DC converter market is highly competitive, with several established players and new entrants competing for market share. Companies operating in the market are focusing on product innovation and development to meet the growing demand for efficient power management solutions. They are also investing in research and development activities to improve the performance and efficiency of DC-DC converters. Additionally, strategic partnerships and collaborations with other companies are also common in the market. Other key competitive strategies include mergers and acquisitions, geographic expansion, and pricing strategies, among others. 'Texas Instruments Inc. (US)', 'Infineon Technologies AG (Germany)', 'Vicor Corporation (US)', 'STMicroelectronics N.V. (Switzerland)', 'TDK-Lambda Corporation (Japan)', 'Murata Manufacturing Co., Ltd. (Japan)', 'Maxim Integrated Products, Inc. (US)', 'ROHM Semiconductor (Japan)', 'Analog Devices, Inc. (US)', 'Delta Electronics, Inc. (Taiwan)', 'ON Semiconductor Corporation (US)', 'XP Power (Singapore)', 'Traco Electronic AG (Switzerland)', 'CUI Global, Inc. (US)', 'Cosel Co., Ltd. (Japan)', 'Bel Fuse Inc. (US)', 'Power Integrations, Inc. (US)', 'Ericsson AB (Sweden)', 'Flex Ltd. (Singapore)', 'RECOM Power GmbH (Germany)'

One major driver of the global DC-DC converter market is the increasing demand for electronic devices, such as smartphones, laptops, and electric vehicles, which require efficient power management solutions. DC-DC converters are widely used in these devices to provide the correct voltage level for their operation, thereby increasing efficiency and extending battery life. The growth of renewable energy and electric vehicles is also expected to boost the demand for DC-DC converters, as these applications require efficient power management solutions to maximize energy output and minimize energy loss.

One key trend in the global DC-DC converter market is the increasing adoption of advanced packaging technologies, such as System-in-Package (SiP) and Multi-Chip Module (MCM), which enable the integration of multiple components and functions into a single package. This helps to reduce the size and weight of DC-DC converters, while improving their performance and efficiency. Additionally, the increasing demand for high-performance and reliable DC-DC converters is driving the development of new packaging technologies, such as 3D packaging and embedded packaging, which offer improved thermal management and higher power density.

Due to the existence of significant producers and suppliers of electronic goods including smartphones, laptops, and electric cars, North America dominated the global market. The region also boasts a strong infrastructure and a high degree of technical development, which increases demand for DC-DC converters. In North America, the adoption of electric vehicles and renewable energy sources is anticipated to increase demand for DC-DC converters.

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