High Power DC-DC Converter Market Size, Share & COVID-19 Impact Analysis, By Type (Isolated and Non-Isolated), By Isolated (Input Voltage, Output Voltage, and Cooling System), By Non-Isolated (Input Voltage, Output Voltage, and Cooling System), By Input Voltage (100V to 500V and 500V to 1000V), By Output Voltage (100V to 500V and 500V to 1000V), By End-user (Automotive, Energy & Power, and Others), and Regional Forecast, 2022-2029

The global high power DC-DC converter market size was valued at USD 4.06 billion in 2021 and is projected to grow from USD 4.46 billion in 2022 to USD 9.77 billion by 2029, exhibiting a CAGR of 11.88% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with high power DC-DC converter experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global high power DC-DC converter market exhibited a growth of 4.65% in 2020 as compared to 2019.

High power DC-DC converter is a power conversion circuit that uses high frequency switches, inductors, transformers, and capacitors to smooth switching noise to a regulated DC voltage. A closed feedback loop maintains a constant output voltage as the input voltage and output current change. The converter finds its application on computers, laptops, mobile phones, space vehicles, buses, and lighting systems, which are used in various ends such as consumer electronics, IT & telecommunications, energy and power, and automotive.

COVID-19 IMPACT 

Due to COVID-19 Pandemic, the Semiconductor Industry Faced Negative Impact

Since the COVID-19 outbreak in December 2019, the disease spread in almost 100 countries around the globe with the World Health Organization (WHO) declaring it a pandemic. The impact of the COVID-19 pandemic was severe on the semiconductor and electronics industry.

According to our analysis, the sudden decline in the production of electronics components and the performance gap was the major reason for the decline in industry growth. The demand for home-office electronic, home electronic equipment, and other necessary systems during the lockdown declined.

The automotive industry is anticipated to grow with a year on year growth rate of 26-28% in 2021. The short-term impact was observed in the automotive industry. Thus, these aspects will hamper the growth for the high power DC-DC supply and demand in the next few years.

LATEST TRENDS

Growing Technological Features in the Product Owing to its Vast Usage to be a Leading Market Trend

The new high power DC-DC converters feature new technology features in areas such as range of input output voltages, increased efficiency, noise optimization, digital interface, power management, multi-channel input and output, and safety standards. Advancement in GaN-based technology along with enhanced thermal management systems has increased the power density of high power converters beyond 5 kW/In3. Advancements in 3D printing technology can provide advanced structures while designing an efficient thermal management solution for high power converters.

For instance, in August 2022, Alencon Systems launched a new DC-DC converter called ‘CUBE’ with power rating starting from 430 kW for applications in energy storage and solar power modules. CUBE reduces the overall cost of solar power projects by reducing the required number of power blocks.

New high power converters minimize the noise and electromagnetic interference. Electromagnetic compatibility standards ensure proper operation of the equipment and control of EMI such that unwanted effects are prevented.

• Flex Power Module’s BMR683 High Power DC-DC Converter has EMC specification according to EN55022/EN55032, CISPR 22/CISPR 32, and FCC part 15J regulations


• Traco Power’s TMR 4 series has EMC specifications as per EN55032, and FCC Part 15, both Class A and B.

DRIVING FACTORS

Increasing Investments in Wind and Solar Power to Propel Market Growth

Rising focus in decreasing carbon emissions by reducing coal-based power plants and shifting toward renewable energy sources such as wind and solar will proliferate the demand for high power converters across the globe.

• In September 2022, under the Inflation Reduction Act of 2022, the U.S. government planned to invest more than USD 300 billion in wind and solar-based power projects by the year 2030.

• In August 2022, Denmark and Germany announced to invest USD 9 billion in 3 GW wind power generation plants.


• In August 2022, Saudi Arabia announced to invest USD 2.4 billion to set up a wind power plant in Uzbekistan.

China is aiming to build 450 GW power generation of solar and wind energy sources in Gobi and other desert regions. As of December 2021, China had 306 GW of solar power and 328 GW of wind turbines.

• India invested USD 14.5 billion in renewable energy sources and aims to achieve 450 GW power generation by renewable energy sources by 2030.

Besides wind and solar power sources, technological development in hydrogen fuel cell will also catalyze the growth of high power converters, especially through its application in electrolysis of water to produce hydrogen for fuel cells. 

• In August 2022, the state government of New South Wales awarded a contract worth USD 23.99 billion to set up 10 wind power projects.

Increasing Demand for Electric Vehicles to Increase the Demand for the Product

With increase in focus on environment, renewable, and clean energy solutions, there has been a global increase in demand for electric vehicles and hybrid electric vehicles. Sales of electric cars (including fully electric and plug-in hybrids) doubled in 2021 to reach a new record of 6.6 billion. Skyrocketing increase in the sales of EVs led to an increase in demand for high power DC-DC converters.

More than half of all electric cars in 2021 were assembled in China, and the country is set to maintain its manufacturing dominance. This has resulted in an increase in demand for these types of converters from the Asia Pacific region. These converters are used in electric vehicle charging stations. An increase in electric vehicle charging infrastructure across the world has led to an increase in demand for high power DC-DC converters.

Under Bipartisan Infrastructure Law, the U.S. government plans to establish 500,000 new EV charging stations across the U.S. with an investment of USD 7.5 billion by 2030.

• As of June 2022, there are 3.92 billion charging piles deployed across China, up by 101.2% from the same period of last year, according to the China Electric Vehicle Charging Infrastructure Promotion Alliance (EVCIPA).

RESTRAINING FACTORS

High-frequency Noise Linked with Power Converters to Hamper Market Growth

Switching converters are prone to noise. The main parts of power inductors which are fitted with DC-DC converters may often vibrate when alternating current switches and pulse waves of frequencies flow in the audible range causing acoustic noise. This noise is generated when the input voltage is above, below, or equal to the output. The converter is needed to perform both step-up and step-down functions. High power converters find their applications in many areas but are expensive. The cost factor may act as a restraint in demand for converters.

Very Short Hold-up Time of DC-DC Converters May Hinder Market Growth

DC-DC converters have a very short hold up time usually in Picoseconds. Hold-up time is the duration for which the converter operates within its limits after power input is lost. This can create problems in data processing and other computer related applications that require hold up time to be longer for orderly system shutdown. The hold-up time also varies according to the size and value of the output capacitors used in a small module. To increase hold-up time, the size of the capacitor may have to be increased. These are some factors that may hinder high power DC-DC converter market growth as customers might look for less noise-generating alternatives. This may result in a small decline in the market in terms of revenue.

SEGMENTATION

By Type Analysis

Isolated Segment Command the Type Segment Owing to High Voltage Flexibility in Power Electronics

By type, the market is bifurcated into isolated and non-isolated. The isolated segment dominated the market in 2021. An isolated DC-DC converter uses a transformer to eliminate the DC path between input and output. Increasing demand for fast charging stations, flexible power converter, and consumer electronics will propel the market growth. Moreover, there is a rise in demand for power electronics for various applications in factory automation, medical sector, aerospace, and automotive.

Non-isolated high power converters have a DC path between the input and the output. Increasing demand for industrial power system is projected to fuel the growth of the non-isolated segment in the global high power DC-DC converters market share by 2029.  

 By Isolated Analysis

By Input Voltage Analysis

100-500V Segment is Expected to Grow at the Highest CAGR Due to Wide Usage in Power Electronics During the Forecast Period

Based on isolated input voltage, the market is segmented into 100V to 500V and 500V to 1000V.

The 100-500V segment is expected to become dominant in the market due to its wide range of applications in the automotive and telecommunications sectors. Additionally, with a rated input voltage of 100-500V, these converters have high switching capabilities with low noise. Hence, the segment is expected to witness significant growth over the forecast period.

By Output Voltage Analysis

100-500V Output Voltage Segment to Witness Highest CAGR Due to the High Adoption Rate in EV Market During 2022-2029

Based on isolated output voltage, the market is segmented into 100V-500V and 500V-1000V. The 100-500V segment will witness the highest CAGR due to the growing adoption of Electric Vehicles (EVs) and Hybrid Electric Vehicles (HEVs) for commercial transport. The output voltage above 500-1000V will witness moderate growth due to the adoption of these DC-DC power converters in ships manufactured for naval and maritime operations where high frequency switching is the main focus.

By Cooling System Analysis

Air Cooled System Witnesses Dominance Owing to the Lower Thermal Resistance in Power Electronics 

Based on isolated cooling system, the market is bifurcated into air cooled and liquid cooled.

The air cooled segment is anticipated to dominate the market during the forecast period owing to various advantages such as customized cooling performance and lower thermal resistance for the same volume compared to passive thermal dissipation methods. The segment is also anticipated to grow owing to various applications in medium to high power applications.

The liquid cooled system will witness significant growth during the forecast period owing to the very wide operating temperature ranger. The segment has vast application usage in harsh environments. Such types of DC-DC converters are used in high power industrial equipment such as industrial laser and charging stations.

By Non-Isolated Analysis

By Input Voltage Analysis

100-500V Segment is Expected to Grow Due to Rise in Demand for Seamless Industrial Power Supply 

Based on non-isolated input voltage, the market is segmented into 100V to 500V and 500V to 1000V. The 100-500V segment is expected to become dominant in the market due to its wide range of applications in the industrial, renewable energy, and RES systems. Hence, the segment is expected to witness significant growth over the forecast period.

The 500V to 1000V segment will witness significant growth during the forecast period. The growth in the segment is owing to the increase in efficiency for high power industrial applications.

By Output Voltage Analysis

100V to 500V Output Voltage Segment to Witness Highest CAGR Due to Increase in Demand for High Power Applications

Based on non-isolated output voltage, the market is segmented into 100V-500V and 500V-1000V. The 100-500V output voltage segment will witness the highest CAGR owing to increase in efficiency and smaller size. The output voltage above 500-1000V will witness moderate growth due to the adoption of these DC-DC power converters in industrial equipment’s information and communication outdoor lighting.

By Cooling System Analysis

Air Cooled System to Witness Segmental Dominance Owing to Increasing Adoption

Based on non-isolated cooling system, the market is bifurcated into air cooled and liquid cooled. The air cooled segment is anticipated to dominate the market during the forecast period owing to various advantages and moreover, airflow is often the most cost-effective thermal management option, ensuring the highest Mean Time Between Failures (MTBF) ratings as there are no additional mechanical parts to create air movement.

The liquid cooled segment will witness significant growth during the forecast period. The growth in the region is owing to the wide product usage in sectors such as aviation. Furthermore, liquid cooling system is a great solution for tight spaces in which fans and air-cooling systems have constraints.

By Input Voltage Analysis

100V to 500V Segment is Projected to be the Highest Growing Segment Owing to Wide Applications

Based on input voltage, the market is bifurcated into 100V to 500V and 500V to 1000V. The 100V to 500V segment is projected to be the highest growing segment during the period of 2022-2029. The growth of the segment is due to less power loss and reduced cost. Furthermore, there is increase in the usage of such input voltage in battery applications, where there is a need for steady voltage.

By Output Voltage Analysis

100V to 500V Segment will Dominate the Market Owing to Dynamic Control Over the Output Current

Based on output voltage, the market is divided into 100V to 500V and 500V to 1000V. The 100V to 500V segment will witness the highest growth during the forecast period. The growth is owing to the reduction is issues related to high power DC-DC such as electromagnetic compatibility, safety issues of output current, and others. Owing to this, there is an increase in the adoption of 100V to 500V output voltage in various applications.

By End-user Analysis

Automotive Segment to Hold Highest Part Owing to the High Demand for the Product in EV Market 

Based on end-user, the market is divided into automotive, energy & power, and others. The automotive segment held major part in 2021 due to high demand, particularly strongly in emerging countries. Moreover, rising demand and adoption of DC-DC converters has increased over the past three to four years with increasing adoption of IoT. The increasing demand is also attributed to the growing demand for increased power density, adoption of smart grids, energy storage systems, electric vehicles, and commercial vehicles.

REGIONAL INSIGHTS

The global market is segmented into North America, Europe, Asia Pacific, and the rest of the world.

The Asia Pacific market reached USD 2.19 billion in 2021. Asia Pacific is expected to showcase the highest dominance during the forecast period in the market. It is also set to be the growing market for DC-DC converter due to the expansion of the Electric Vehicle (EV) market, satellite applications, renewable energy, and other sectors. Moreover, due to increased manufacturing and new product launches, the product demand will grow in the coming years. The growth in the region is also due to the increase in investment by key market players in the development of high power DC-DC converters.

• In January 2021, Alibaba Group introduced two electric vehicle models in the country, under the brand IM (Intelligence in Motion) in partnership with SAIC Motor. CATL supplies battery cells for these vehicles.


• In September 2021, G-Pulse and Silicon Mobility partnered to develop multi-phase, high-voltage, bi-directional, interleaved high power DC-DC converter platforms for New Energy Vehicles (NEV), including Fuel Cell Electric Vehicles (FCEV), Battery Electric Vehicles (BEV), Hybrid Electric Vehicle (HEV), and Plug-in Hybrid Electric Vehicle (PHEV) (PHEV).

North America is anticipated to show a significant rise in the high power DC-DC converter market share during the forecast period. The growth of the market in the region is due to the growing adoption of the Internet of things (IoT) technology and advances in surgical devices for digital power management and control, which is expected to drive the expansion of the global market. Moreover, in March 2022, House Democratic Caucus Speaker Hakeem Jeffries said that he believes there has been significant progress on legislation to boost the U.S. semiconductor industry and that a deal will be reached by the end of July. The legislation will fund USD 52 billion in chips production subsidies and encourage the U.S. scientific and technological innovations to compete with China.

During the forecast period, the European market is expected to grow rapidly. Europe has the second largest high power DC-DC converters market share with countries such as the U.K, Germany, and France. The growth in the segment is owing to the increase in the adoption of these converters in consumer electronics. Furthermore, in September 2020, BAE Systems announced a contract with U.K.-based TT Electronics for the design, development, and qualification of a high power DC-DC to support project Tempest. This unit will be used in the Flight Control System (FCS) to deliver power conversion functionality to a number of elements within the FCS.

The rest of the world is expected to experience slow growth in the period 2022-2029 due to limited investments in the power electronics and telecommunications sectors. However, increasing investments in aviation operations in the UAE and other neighboring countries are expected to create several growth opportunities in the near future.

KEY INDUSTRY PLAYERS

Increasing Investment by Key Players to Drive the Market Growth

The competitive landscape of the market shows the dominance of particular players such as ABB Ltd, Analog Devices Inc., and TDK Corporation. These companies focus on the design and development of advanced DC-DC power converters, integrated 5G network capabilities for applications such as in consumer electronics, aerospace, and satellite to drive market growth. Moreover, constant investments in research and development and adoption of high power converters by such key players in the renewable energy sector, a strong focus on product innovation, and long-term contracts with the government and relevant authorities will support these companies to maintain their market position.

LIST OF KEY COMPANIES PROFILED:

• ABB Ltd (Switzerland)


• Analog Devices Inc. (U.S.)


• Crane Co. ( U.S.)


• Delta Electronic Inc. (Taiwan)


• INVT (China)


• Infineon Technologies (Germany)


• Kiepe Electric Schweiz AG (Switzerland)


• NXP Semiconductor (Netherlands)


• Renesas Electronic Corporation (Japan)


• Schaefer, Inc. (U.S.)


• STMicroelectronics (Switzerland)


• TDK Corporation (Japan)


• Texas Instruments (U.S.)


• Vicor Corporation (U.S.)


• Zekalabs (Bulgaria)

KEY INDUSTRY DEVELOPMENTS:

• March 2022 - Chinese inverter manufacturer LuxpowerTek launched a new DC-DC Coupled PV energy storage converter with a power rating of 100kW. The LSP 100K is described as a new type of converter that can turn the original grid-connected PV systems into an energy storage device. Furthermore, this new converter has a DC input voltage range of 300-1,000V and features 24 input strings and 12 output strings. It measures 1,015x680x310mm and has a weight of 140kg.


• March 2022 - Zekalab updated its 20kW DC-DC devices with several mechanical and operational upgrades. The new upgrades included improved mechanical toughness, improved thermal endurance, improved control algorithms, and new operational modes.


• September 2021 - G-Pulse and Silicon Mobility partnered to develop multi-phase, high-voltage, bi-directional, interleaved high power DC-DC platforms for New Energy Vehicles (NEV), including Fuel Cell Electric Vehicles (FCEV), Battery Electric Vehicles (BEV), Hybrid Electric Vehicle (HEV), and Plug-in Hybrid Electric Vehicle (PHEV).


• May 2021 - TDK Corporation (TDK) announced that it has formed a partnership with Contemporary Amperex Technology Co., Limited (CATL) to strengthen its electric vehicle electrical components and DC-DC converter businesses. TDK supplies CATL's automotive electrical and power products.


• August 2022 - An international semiconductor maker will invest USD 7.5 billion to build a new factory in the city of Tianjin, as China and the U.S. rush to increase their domestic chip supply.

Report Coverage:

The research report provides a detailed information of the market and focuses on aspects such as DC-DC types, input voltage, output voltage, end-users, and key players. Additionally, the report provides information on the market trends, competitive landscape, market competition, product pricing, and market conditions with an emphasis on developments industry keys. In addition to the factors mentioned above, it includes several factors that have been contributing to the global market sizing in recent years.

Report Scope & Segmentation

ATTRIBUTE	DETAILS
Study Period	2018-2029
Base Year	2021
Estimated Year	2022
Forecast Period	2022-2029
Historical Period	2018-2020
Unit	Value (USD Billion)
Segmentation	By Type, Isolated, Non-Isolated, Input Voltage, Output Voltage, End-user, and Geography
By Type Isolated Non-Isolated
By Isolated Input Voltage 100V to 500V 500V to 1000V Output Voltage 100V to 500V 500V to 1000V Cooling System Air Cooled Liquid Cooled
	By Non-Isolated Input Voltage 100V to 500V 500V to 1000V Output Voltage 100V to 500V 500V to 1000V Cooling System Air Cooled Liquid Cooled
	By Input Voltage 100V – 500V 500V-1000V
	By Output Voltage 100V – 500V 500V-1000V
	By End-user Automotive Energy & Power Others
	By Region North America (By Type, Isolated, Non-Isolated, Input Voltage, Output Voltage, End-user, and Country) U.S. (By End-user) Canada (By End-user) Europe (By Type, Isolated, Non-Isolated, Input Voltage, Output Voltage, End-user, and Country) U.K. (By End-user) Germany (By End-user) France (By End-user) Russia (By End-user) Rest of Europe (By End-user) Asia Pacific (By Type, Isolated, Non-Isolated, Input Voltage, Output Voltage, End-user, and Country) China (By End-user) India (By End-user) Japan (By End-user) Rest of Asia Pacific (By End-user) Rest of the World (By Type, Isolated, Non-Isolated, Input Voltage, Output Voltage, End-user, and Country) Middle East & Africa (By End-user) Latin America (By End-user)