"Smart Market Solutions to Help Your Business Gain Edge over Competitors"

DC-DC Converter Market Size, Share & Industry Analysis, By Type (Isolated and Non-Isolated), By Input Voltage (Upto 40V, 40V to 100V, 100V to 500V, and 500V to 1000V), By Output Voltage (Upto 100V, 100V to 500V, and 500V to 1000V), By End-user (Telecommunication, Automotive, Consumer Electronics, Energy & Power, Aerospace & Defense, Healthcare, and Others), and Regional Forecast, 2024-2032

Last Updated: July 08, 2024 | Format: PDF | Report ID: FBI106558

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global DC-DC converter market size was valued at USD 11.01 billion in 2023. The market is projected to grow from USD 12.20 billion in 2024 to USD 28.46 billion by 2032, exhibiting a CAGR of 11.17% during the forecast period. Asia Pacific dominated the dc-dc converter market with a market share of 54.22% in 2023.

WE ARE IN THE PROCESS OF REVAMPING DC-DC Converter Market WITH RESPECT TO RUSSIA-UKRAINE CONFLICT

Request Sample

Converters are increasingly used in portable electronic devices such as cell phones, laptops, and computers. The high demand for these portable devices will boost the DC-DC converter market growth. The converter finds its applications on computers, laptops, mobile phones, space vehicles, buses, and lighting systems, which are thus used in consumer electronics, I.T. and telecommunications, energy and power, and cars.


Since the outbreak of the COVID-19 epidemic in December 2019, the disease spread to almost 100 countries globally. The World Health Organization (WHO) declared this as a pandemic. The COVID-19 pandemic severely impacted the semiconductor and electronics industry. According to our analysis, the main reason for the slowdown in industrial growth was the sharp decline in the production of electronic components and the performance gap. The demand for home electronics and other necessary systems decreased during the shutdown period. However, companies plan to postpone research and development investments and company contracts.


DC-DC Converter Market Trends


Power Electronics to Emerge as a Leading Market Trend


Power electronics have come a long way from their dominance several years ago through discrete power equipment and esoteric design approaches that usually required the close involvement of experienced energy engineers. Power electronics are entering systems integration by combining high-speed grids, microprocessors, smart power design converters, and innovative thermal management approaches to keep electronics cool.


In addition, power electronics follow technological trends in terms of power density and smallness, weight, and power consumption (SWaP). Therefore, the emergence of modern power electronics will lead to market growth in the coming years. Power electronics play an important role in several markets, such as aerospace, consumer, industrial and automotive. It also helps improve the performance, security, and functionality of smart cars and networks.



  • In May 2021, the U.S. Army's Power Electronics Division awarded four companies a USD 1.8 billion contract to develop a portable battery that would allow infantry fighters to fight while powering various laptops, sensors, and communication devices.


Request a Free sample to learn more about this report.


DC-DC Converter Market Growth Factors


Increasing Demand for Portable Electronic Devices and Applications in Renewable Energy to Propel Market Growth


Most semiconductor devices that can operate only using DC electrical appliances need to be plugged into an external power source that usually has an AC-DC converter. Portable electronic devices, including cellphones and laptops cannot function without a key power electronic component called the converter. ICs and other components mounted on substrates require different voltage levels to operate. An unstable power supply can affect the devices and cause degradation and malfunction.


Hence, these devices require a converter to step up or down to the required voltage. The rising demand for more computing power and storage capacity is also surging the demand for DC converters.


The global semiconductor industry has been rising at a very high pace. An increase in the semiconductor chip industry will propel the growth of semiconductor devices. Further, the rising pace of semiconductors may also surge the demand for portable electronics. Technological innovation and digital adaptation in emerging economies from the Asia Pacific region are further leading to increased demand for converters. China, Japan, Taiwan, and South Korea lead the semiconductor market in Asia. With the COVID-19 pandemic and related social distancing norms, there has been an increase in sales of laptops with an increasing demand for remote work.


Rising Electric Vehicles to Boost DC-DC Converter Devices’ Sales


DC-DC converters convert high voltage from a car's battery to lower voltages to power several devices within the car, which operate at lower voltages in various configurations of electric vehicles. A vehicle’s DC-DC converter takes a battery’s voltage down to 12 V for common car loads such as headlights, window motors, and pumps. The key design concerns for DC-DC include low losses, high efficiency, low volume, and lightweight. They can be found in every E.V. or hybrid with a high-voltage battery. DC-DC is an essential part of the vehicle, converting voltages to power various onboard systems, increasingly sophisticated infotainment, and enhanced safety features using Advanced Driver Assistance Systems (ADAS).


Rising focus on the environment and renewable and clean energy solutions may boost the demand for electric vehicles and hybrid electric vehicles globally. An increase in sales of E.V. led to an increase in demand for converters.



  • Sales of electric vehicles (including fully electric and plug-in hybrids) have doubled in 2021 to reach a new record of 6.6 million.

  • As of June 2022, there are 3.9 million charging piles deployed across China, up 101.2% from the same period of last year, as claimed by the China Electric Vehicle Charging Infrastructure Promotion Alliance (EVCIPA).


RESTRAINING FACTORS


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


Switching transformers are prone to noise. The core parts of DC-DC converter power inductors can often vibrate when AC switches and frequency pulse waves travel in the audible range, causing acoustic noise. This noise occurs when the input voltage is greater than, less than, or equal to the output voltage. A transformer is required for both step-up and step-down operations. Converters find their applications in many fields but are expensive. The cost factor may limit the demand for transformers.


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


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


DC-DC Converter Market Segmentation Analysis


By Type Analysis


Isolated Segment Commanded the Market Owing to Increasing Acceptance of Power Electronics


By type, the market is bifurcated into isolated and non-isolated. The isolated segment dominated the market in 2023. An isolated DC-DC converter uses a transformer to eliminate the DC path between input and output. The increased demand for power electronics for application spaces such as factory automation, building automation, medical, aerospace, and automotive has led to the segment's dominance in the market globally.


The non-isolated converter has a DC path between the input and the output. These power converters generally use special integrated circuits and are used specifically for industrial applications where high output power is required. Thus, the demand in the industrial sector will fuel the growth of non-isolated converters in the near future.


By Input Voltage Analysis


100-500V Segment to Grow at Highest CAGR Due to Increased Demand from the Automotive and Telecommunications Sectors


Based on input voltage, the market is segmented into upto 40V, 40V-100V, 100V-500V, and 500-1000V. 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 remarkable growth over the forecast period. Converters with a rated input voltage of 40-100V are expected to experience higher growth due to their adoption in the aerospace industry. Additionally, the advent of more electric aircraft and the development of electric motors will drive segmental growth.


By Output Voltage Analysis


100-500V Output Voltage Segment to Witness Highest CAGR Due to Increased Adoption of Electric Vehicles (EV) 


Based on output voltage, the market is segmented into voltage ranges of upto 100V, 100V-500V, and 500V-1000V. The 100-500V output voltage segment will witness the highest CAGR thanks to the growing adoption of Electric Vehicles (EVs) and Hybrid Electric Vehicles (HEVs) for commercial transport. Additionally, 100 voltage output power converters are used to customize LED lights and display batteries on a vehicle engaged in commercial and military sectors. 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 End-user Analysis


To know how our report can help streamline your business, Speak to Analyst


Due to High Demand, Energy & Power Segment Held Highest Market Share in the Base Year


Based on end-user, the market is segmented into telecommunication, automotive, consumer electronics, energy & power, aerospace & defense, healthcare, and others. In the market share, energy & power held a major part in 2023 due to high adoption in emerging countries. In addition, the energy & power segment is witnessing developments on a daily basis and will dominate the segment in Asia. For example, India, with an installed capacity of 401.01 GW (as of April 2022), according to the India Brand Equity Foundation (IBEF), India is the third largest producer and consumer of electricity in the world. The automotive segment will witness significant growth due to high electric vehicles adoption, including cars, buses, and other road transport vehicles. Hence, higher revenue growth is expected during the forecast period.


REGIONAL INSIGHTS


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


Asia Pacific DC-DC Converter Market Size, 2023 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


The Asia Pacific market was valued at USD 5.97 billion in 2023 and is anticipated to be the fastest growing region during the forecast period Asia Pacific is expected to dominate the global market due to the expansion of the telecommunications and transport sectors. The telecommunications industry in Pacific Asia countries, such as China, South Korea, Singapore, and Japan, focuses on updating their network infrastructures to stimulate 5G infrastructure, which will eventually stimulate the demand for qualified devices for 5G and will stimulate the market. By increasing the use of cell phones, tablets, and the next 5G spectrum, vertical telecommunication for the converter should grow during the forecast period.



  • For example, by the end of 2022, China wants to install over two million basic 5G stations to expand the application of Information & Communication Technology (ICT) that brings convenience to people's lives.


North America grew at a significant rate in terms of the global DC-DC converter market share in 2021. In addition, the growing adoption of the Internet of Things or IoT technology and advances in surgical devices for digital power management and controllers are expected to drive the expansion of the global market. North America holds the commanding share of the global market due to the wide adoption and demand for converters from nearly every major industry vertical. Market analysis of North America shows that it will lead due to the resources needed to deploy converters in the region. The rising use of devices, such as computers, laptops, cell phones, spacecraft power systems, buses, and lighting systems, is fostering the growth of the market in the region.


During the forecast period, the European market is predicted to grow fairly. Europe has the second largest market portion with countries such as the U.K., Germany, and France. In the defense and aerospace industries, the design of converters has transformed due to numerous silent technology drivers over the past decade. New military and space programs, airborne drones, national security, and future warrior technologies are all seeking lightweight, affordable, and highly reliable electronic packages offered by converters.


According to the rest of the world's regional analysis, the market is expected to experience slow growth in 2024-2032 due to limited investment in the power electronics and telecommunications sectors. However, increasing investments in aviation operations in the UAE and other neighboring countries are expected to create growth opportunities soon.


List of Key Companies in DC-DC Converter Market


Increasing Demand for Telecommunication to Drive Market Growth


The market's competitive landscape shows the dominance of select players such as Texas Instruments, General Electric (G.E.), and ABB LTD, among others. These companies focus on designing and developing advanced DC-DC power converters and integrated 5G network capabilities for applications such as consumer electronics, aerospace, and satellite to drive market growth. The constant investment in research and development, a strong focus on product innovation, and long-term contracts with the government and relevant authorities will support these companies in resisting their market position. Additionally, these companies are expanding their geographic reach into Asia Pacific in the coming years.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • July 2022 - Energy management company Eaton announced that it has accomplished the acquisition of 50% stake in the circuit breaker business of Jiangsu Huineng Electric Co., Ltd. (Huineng), which manufactures and markets low voltage circuit breakers in China.

  • June 2022 - ABB Power Conversion is focused on expanding its robust line of DC/DC bus converters with multiple new modules, including a 1500-watt (W) converter. These DC/DC converters are among the highest-powered quarter-brick DC/DC converters. The 1500W converters provide power densities of up to 810W per cubic inch and are available in both digital and analog versions. 

  • March 2022 - Analog Devices, Inc. and EPC collaborated to deliver up to 2 MHz switching frequency for the highest density DC-DC converters using GaN FETs. Both organizations introduced a new design using an analog controller with a fully optimized drive.

  • March 2022 - Owing to the wider implementation and adoption of 5G technology, ABB Power Conversion extended its solution offerings with its CC1600 rectifier, CC1600 high-voltage DC/DC converter, and a line power solution – its QS200 downstream converter.

  • September 2021 - Advanced Energy Industries Inc. introduced the Artesyn LGA110D, a 110 amp-rated, non-isolated digital point-of-load DC-DC converter. This new range of converters delivers 30% higher power conversion density rating than any converters in its class.


REPORT COVERAGE


An Infographic Representation of DC-DC Converter Market

To get information on various segments, share your queries with us



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


To gain extensive insights into the market, Request for Customization


Report Scope & Segmentation






















































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Growth Rate 



CAGR of 11.17% from 2024-2032



Unit



Value (USD Billion)



 


 


 


 


Segmentation


 


 


 


 



By Type



  • Isolated

  • Non-Isolated



By Input Voltage



  • Upto 40V

  • 40V to 100V

  • 100V to 500V

  • 500V to 1000V



By Output Voltage



  • Upto 100V

  • 100V to 500V

  • 500V to 1000V



By End-user



  • Telecommunication

  • Automotive

  • Consumer Electronics

  • Energy & Power

  • Aerospace & Defense

  • Healthcare

  • Others Segmentation



By Geography



  • North America (By Type, Input Voltage, Output Voltage, End-user, and Country)

    • U.S. (By End-user)

    • Canada (By End-user)



  • Europe (By Type, 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, 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, Input Voltage, Output Voltage, End-user, and Country)

    • Middle East & Africa (By End-user)

    • Latin America (By End-user)








Frequently Asked Questions

Fortune Business Insights stated that the global market size was USD 11.01 billion in 2023 and is projected to reach USD 28.46 billion by 2032.

The market will exhibit a CAGR of 11.17% during the forecast period (2024-2032)

The automotive segment is expected to dominate this market during the forecast period

Texas Instruments, Delta Electronics, and Analog Devices are the leading players in the global market

Asia Pacific topped the market in terms of market share in 2023.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • 2019-2032
  • 2023
  • 2019-2022
  • 187

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X