The global automotive DC-DC converter market is poised for significant growth, with sales projected to surge from US$ 21,996 million in 2023 to US$ 289,542 million by the end of 2033, representing a remarkable 30.1% compound annual growth rate over the next decade. Several factors drive this expansion. Firstly, the increasing adoption of electric and hybrid vehicles plays a pivotal role in boosting demand for automotive DC-DC converters, as these vehicles rely on efficient power management systems. Additionally, advancements in battery technology further support market expansion by enhancing the performance and range of electric vehicles, thereby increasing the need for reliable DC-DC converters.
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Moreover, rising government initiatives aimed at promoting sustainable transportation solutions contribute to the positive outlook for automotive DC-DC converter sales, as these converters play a crucial role in enabling the transition to cleaner and more energy-efficient vehicles. Furthermore, the growing adoption of advanced technologies such as advanced driver-assistance systems (ADAS) drives demand for automotive DC-DC converters, as these systems require sophisticated power management solutions. Lastly, the integration of DC-DC converters with other components within vehicles fosters market development by enhancing overall efficiency and functionality. Overall, these trends underscore the significant opportunities for growth and innovation within the automotive DC-DC converter market in the coming years.
Key Takeaways from this Market Study:
- The global automotive DC-DC converter industry is anticipated to reach a valuation of US$ 289,5432 million by 2033.
- Based on power output, the >1000W segment holds around 0% share of the global market.
- By product type, insulated DC-DC converter segment accounts for about 1% share of the market.
- China automotive DC-DC converter industry is likely to reach a valuation of US$ 26,972.8 million by 2033.
- Demand for automotive DC-DC converters in Japan is likely to rise at 7% CAGR over the next ten years.
- The United States automotive DC-DC converter industry is forecast to expand at 8% CAGR through 2033.
“’Range Anxiety’ represents a significant apprehension among electric vehicle owners, stemming from the fear of batteries depleting power before reaching their intended destinations or charging facilities. This concern is widely acknowledged within the electric vehicle community and is effectively addressed by the implementation of highly efficient DC-DC converters. As such, the perception of consumers towards Electric Vehicles remains a crucial factor in shaping the trajectory of the market’s development. Manufacturers have a strategic window of opportunity to proactively influence and capitalize on the promising prospects within the market,” – says a lead analyst at Future Market Insights (FMI).
Who is Winning?
Tier-1 Players account for around 40% to 45% of the overall market. These tier I players include Texas Instruments Inc., TDK Corporation, Murata Manufacturing Co. Ltd., STMicroelectronics, and Others.
Tier II and other players include manufacturers with a total annual revenue of less than US$ 250 million from the sales of automotive DC-DC converters. The manufacturers such as Infineon Technologies AG, Toshiba, Silver Atena, Fujitsu, Analog Devices (Maxim Integrated), Vicor Power, Semtech Corporation, Bel Fuse Corporation, and other regional and local players are expected to hold 55% to 60% of the market share.
Leading automotive DC-DC converter manufacturers are employing various strategies to increase their sales and expand their global footprints. This includes new product launches, acquisitions, partnerships, collaborations, mergers, facility expansions, and agreements. For instance,
- In March 2022, TDK Corporation introduced new ultra-low profile DC-DC converters for various applications.
Key Companies Profiled:
BEL FUSE INC, Texas Instruments, Infineon Technologies AG, STMicroelectronics, Murata Manufacturing Co. Ltd., BEL FUSE INC., Vicor Corporation, FUJITSU, TOSHIBA, Semtech Corporation, Analog Devices Inc., TDK Corp, Silver Atena GmbH.
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Market Segmentation:
By Vehicle Type:
- NEV (Neighborhood Electric Vehicle)
- BEV (Battery Electric Vehicle)
- HEV (Hybrid Electric Vehicle)
- PHEV (Plug-in Hybrid Electric Vehicle)
- FCEV (Fuel Cell Electric Vehicle)
By Voltage:
- 3V-14V
- 15V-36V
- 36V-75V
- >75 V
By Output Power:
- 0.25-250 W
- 250-500 W
- 500 -1000 W
- >1000W
By Sales Channel:
- First Fit
- Aftermarket
By Product Type:
- Isolated
- Non Isolated
By Form Factor:
- Full Brick
- Half Brick
- Quarter Brick
- Eight Brick
- Sixteen Brick
- Others
By Country:
- United States
- Canada
- Brazil
- Mexico
- Rest of Latin America
- Germany
- Italy
- France
- United Kingdom
- Spain
- BENELUX
- Russia
- Rest of Europe
- China
- Japan
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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