According to Future Market Insights (FMI), the global automotive DC-DC converter market is estimated to reach a valuation of US$ 21,996 million in 2023. From 2023 to 2033, global sales of automotive DC-DC converters are projected to soar at 30.1% CAGR. By 2033, total market size is forecast to reach US$ 289,542 million.
The automotive DC-DC converter market is experiencing rapid growth due to the increasing adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs). DC-DC converters are crucial components in these vehicles, as they manage the power flow between different voltage levels within the vehicle’s electrical system. For instance, they convert high-voltage power from the main battery to lower voltages needed for auxiliary systems like lighting, infotainment, and control units. As the automotive industry shifts towards electrification to reduce carbon emissions and improve fuel efficiency, the demand for efficient and reliable DC-DC converters is rising.
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Technological advancements are significantly enhancing the performance and efficiency of DC-DC converters. Modern converters are designed to be more compact, lightweight, and efficient, addressing the space and weight constraints typical of EVs and HEVs. Innovations in semiconductor technologies, such as the use of silicon carbide (SiC) and gallium nitride (GaN), are enabling higher efficiency and power density in these converters. These materials allow converters to operate at higher temperatures and voltages, reducing energy losses and improving overall vehicle performance. As a result, next-generation DC-DC converters are becoming key enablers of advanced electric powertrains, contributing to longer driving ranges and faster charging times for electric vehicles.
The market is also influenced by regulatory and consumer trends towards greener and more energy-efficient vehicles. Governments worldwide are implementing stringent emission regulations and providing incentives for the adoption of EVs, driving automakers to invest in advanced power electronics. Consumers are increasingly prioritizing sustainability and energy efficiency in their vehicle choices, further fueling the demand for high-performance DC-DC converters. Additionally, the rise of autonomous vehicles and connected car technologies is increasing the complexity of automotive electrical systems, creating new opportunities for DC-DC converter applications. As the automotive landscape continues to evolve, the DC-DC converter market is poised for sustained growth, driven by technological innovation and the global push towards electrification and sustainability.
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
- South Korea
- India
- ASEAN
- Australia and New Zealand
- Rest of South Asia & Pacific
- GCC Countries
- Türkiye
- Northern Africa
- South Africa Rest of Middle East and Africa
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.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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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