How Significant is the Growth of Automotive DC-DC Converters Market Size?
The automotive DC-DC converters market has witnessed impressive growth in recent years, reflecting a steady rise from $0.87 billion in 2024 to an expected figure of $1.19 billion by 2025. This compound annual growth rate (CAGR) presents a steep climb of 37.8%. Factors such as sharp growth in the automotive industry, strict emission regulations, higher consumer demand for electronics, and economic growth can be attributed to this phenomenal track record.
Furthermore, the automotive DC-DC converters market is predicted to maintain this upward trend, reaching $3.19 billion by 2029. This is foreseen to follow a compound annual growth rate (CAGR) of 27.8%. The factors that will contribute to this progress include the surge in vehicle production, higher adoption of electric vehicles, rapid global urbanization, and a rise in per capita disposable income, topped with governmental support. The key trends featured in the forecast include the adoption of wide-bandgap semiconductors, digital control and communication, vehicle-to-grid (v2g) integration, use of sustainable materials, and customization and integration.
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What is Driving the Growth of the Automotive DC-DC Converter Market?
The rise in adoption rates of electric vehicles has significantly contributed to the growth of the automotive DC-DC converter market. The batteries in electric vehicles output hundreds of volts, but the vehicle’s internal components require varying voltages, and most operate on lower voltage like air-conditioning and in-built displays. This is where automotive DC-DC converters come into play, converting high voltage to low or vice versa. According to a May 2022 Global EV Outlook report, electric vehicle (EV) sales doubled in 2021 over the previous year, reaching a new high of 6.6 million from 2.98 million units. The rapid adoption of electric vehicles has therefore increased the demand for automotive DC-DC converters, driving the market’s growth.
What Are the Primary Segments in the Automotive DC-DC Converters Market?
1) By Propulsion Type: Battery Electric Vehicle (BEV), Fuel Cell Electric Vehicle (FCEV), Plug-in Hybrid Vehicle (PHEV)
2) By Product-Type: Isolated, Non-Isolated
3) By Input Voltage: < 40V, 40-70V, >70V
4) By Output Power: <1kW, 1-10kW, 10-20kW, >20kW
5) By Application: Passenger Vehicle, Commercial Vehicle
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Who are the Major Players in the Automotive DC-DC Converters Market?
Market leaders in the automotive DC-DC Converter sector include Continental AG, BorgWarner Inc, Denso Corporation, Valeo, Toyota Industries Corporation, Robert Bosch GmbH, Vicor Corporation, TDK-Lambda Corporation, Delta Electronics, HELLA GmbH & Co. KGaA, MOBIS INDIA LIMITED, Panasonic Corporation, Infineon technologies, Mornsun Guangzhou Science & Technology Co. Ltd., Alps Alpine Co, Mareli Corporation, LG Innotek Co. Ltd., Texas Instruments Incorporated, ZF Friedrichshafen AG, NAC Group Inc., SynQor Inc., Nanjing Pengtu Power Supply Co., AEGIS Power Systems Inc., Murata Manufacturing Co. Ltd., Shindengen Electric Manufacturing Co. Ltd., Delta-Q Corporation, Robert Bosch GmbH, Skyworks Solutions Inc., Semiconductor Components Industries, Crane Aerospace and Electronics, VPT Power Inc., Microsemi Corporation, UTC Aerospace Systems, STMicroelectronics N.V., ON Semiconductor Corporation, Renesas Electronics Corporation, CUI Inc., Bel Fuse Inc., Eaton Corporation, Fujitsu Limited, Cosel Co. Ltd., Traco Electronic AG, XP Power.
What Trends are Emerging in the Automotive DC-DC Converter Market?
Major market players in the automotive DC-DC converter market are launching new products to meet the rising demand. For instance, Eaton Corporation, a US-based power management company, unleashed a new line of DC-DC converters designed specifically for 48-volt commercial vehicle architectures in May 2022. These converters are crafted to cater to power needs like lighting, heating, ventilation, and air conditioning (HVAC), and other auxiliary functions in diesel-powered commercial vehicles.
Which Region has the Largest Share in the Automotive DC-DC Converter Market?
The Asia-Pacific region had the largest share in the automotive DC-DC converter market in 2024. The market report includes information about multiple regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Automotive DC-DC Converters Market Report 2025 Offer?
Automotive DC-DC Converters are electronic devices that convert direct current (DC) voltage from one level to another within vehicles. These are key for powering various automotive systems, including electric motors, infotainment, and battery management systems efficiently: The Automotive DC-DC Converters Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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