USD 11.40 billion
Report ID: SQMIG25A2072 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 59 | Figures: 75
DC-DC Converters Market size was valued at USD 11.40 billion in 2021 and is poised to grow from USD 12.10 billion in 2022 to USD 76.79 billion by 2030, growing at a CAGR of 30.2% in the forecast period (2023-2030).
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.
Global Market Size
USD 11.40 billion
Non-Isolated DC-DC Converters
Non-Isolated DC-DC Converters
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Global DC-DC Converters market is segmented by type, application, and region. Based on type, the market can be segmented into non-isolated DC-DC converters, and isolated DC-DC converters. Based on technology, the market is segmented into automotive, and aerospace. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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.
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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.
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DC-DC Converters Market Drivers
Increasing demand for electronic devices
DC-DC Converters Market Restraints
High cost associated with the design and manufacturing
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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 Player’s Company Profiles in DC-DC Converters Market
DC-DC Converters Market Recent Developments
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.
|Market size value in 2021
|USD 11.40 billion
|Market size value in 2030
|USD 76.79 billion
|Forecast Unit (Value)
|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)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global 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 Global 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.
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