The Automotive DC-DC Converters Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Automotive DC-DC Converters Global Market Report 2024, The automotive dc-dc converters market size has grown exponentially in recent years. It will grow from $0.63 billion in 2023 to $0.88 billion in 2024 at a compound annual growth rate (CAGR) of 38.6%. The growth in the historic period can be attributed to growth in automotive industry, stringent emission regulations, rising consumer demand for electronics, economic growth.
The automotive dc-dc converters market size is expected to see exponential growth in the next few years. It will grow to $2.61 billion in 2028 at a compound annual growth rate (CAGR) of 31.3%. The growth in the forecast period can be attributed to rising vehicle production, electric vehicle adoption, rising global urbanization, growing per capita disposable income, government support. Major trends in the forecast period include wide-bandgap semiconductors, digital control and communication, vehicle-to-grid (v2g) integration, sustainable materials, customization and integration.
The increase in the adoption of electric vehicles contributed to the growth of the automotive DC-DC converter market. The output of the batteries in an electric vehicle is several hundred of volts but the components inside the vehicles require different voltages and most of the components run on lower voltage such as air-conditioning and in-built displays. The automotive DC-DC converter turns the high voltage into low voltage or low voltage to high. For instance, according to May 2022 published, Global EV Outlook 2022 report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. The increase in the adoption of electric vehicles increases the demand for automotive DC-DC converters, driving the growth of the automotive DC-DC converter market.
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The automotive dc-dc converters market covered in this report is segmented –
1) By Propulsion Type: Battery Electric Vehicle (BEV), Fuel Cell Electric Vehicle (FCEV), Plug-in Hybird 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
Major companies operating in the automotive DC-DC converter market are focusing on product launches such as new lines of DC-DC converters to meet growing demand. The converters are designed to be used in diesel-powered commercial vehicles, supporting the power needs of systems such as lighting, heating, ventilation, air conditioning (HVAC), and other auxiliary functions. For instance, in May 2022, Eaton Corporation, a US-based power management company, introduced a new line of DC-DC converters designed for 48-volt commercial vehicle architectures. The converters are specifically developed to meet the demands of commercial vehicle electrical systems, providing efficient power conversion and management solutions.
The automotive dc-dc converters market report table of contents includes:
1. Executive Summary
2. Automotive DC-DC Converters Market Characteristics
3. Automotive DC-DC Converters Market Trends And Strategies
4. Automotive DC-DC Converters Market – Macro Economic Scenario
5. Global Automotive DC-DC Converters Market Size and Growth
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26. South America Automotive DC-DC Converters Market
27. Brazil Automotive DC-DC Converters Market
28. Middle East Automotive DC-DC Converters Market
29. Africa Automotive DC-DC Converters Market
30. Automotive DC-DC Converters Market Competitive Landscape And Company Profiles
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