According to Future Market Insights (FMI), the global automotive DC-DC converter market is expected to reach a valuation of USD 21,996 million in 2023, with sales anticipated to grow at an impressive compound annual growth rate (CAGR) of 30.1% from 2023 to 2033. By 2033, the market is projected to achieve a substantial size of USD 289,542 million.
In 2023, isolated DC-DC converters dominate the market, comprising about 86.1% of the total share. Among vehicle types, Battery Electric Vehicles (BEVs) represent a significant portion of the automotive DC-DC converter market.
The rapid growth in the automotive DC-DC converter market is primarily fueled by the expanding electric vehicle (EV) industry. Growing environmental concerns and rising fuel costs have made electric vehicles increasingly popular, with governments worldwide supporting their adoption. This surge in EV emphasis is anticipated to drive demand for automotive DC-DC converters.
DC-DC converters are essential for EVs, providing critical management and control over various electrical systems and components. The need for these converters is crucial for the efficient operation of EVs.
Manufacturers are advancing the design and material quality of automotive DC-DC converters to address the rising demand for higher efficiency across various types of electric vehicles. Key manufacturers are focusing on partnerships and acquisitions with regional businesses to strengthen their market position. They are also expanding their customer base by offering solutions that meet diverse power and voltage requirements in electric vehicles.
Detailed Market Study: Full Report and Analysis
Key Highlights of the Global Automotive DC-DC Converter Market Report:
- The global automotive DC-DC converter market is expected to reach USD 289,542 million by 2033.
- The >1000W power output segment holds an approximate share of 0% in the global market.
- The insulated DC-DC converter product type accounts for roughly 1% of the market share.
- The Chinese automotive DC-DC converter market is projected to attain a valuation of USD 26,972.8 million by 2033.
- Demand in Japan is projected to grow at a CAGR of 7% over the next decade.
- The United States automotive DC-DC converter market is forecasted to grow at a CAGR of 8% 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 Future Market Insights (FMI) analyst
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 USD 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.
Find More Valuable Insights:
The research report analyzes the market demand trends of the global automotive DC-DC converter market. The market estimation and growth projection are based on factors such as end-use industries development, COVID-19 crisis impact, replacement ratio, and rate of urbanization.
As per Future Market Insights’ (FMI) research scope, the automotive DC-DC converter market has been studied and segmented based on vehicle type, voltage, output power, sales channel, product type, form factor, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the supply and demand sides of the market.
Global Automotive DC-DC Converter 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
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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