DC-DC Converter Market

Global DC-DC Converter Market Size (2023 to 2028)

The global DC-DC converter market size is expected to be worth 12.44 Billion USD in 2023. It is expected to grow at a CAGR of 12.1% during the forecast period and reach a value of 22.03 Billion USD by 2028.

Portable electronic gadgets such as cellular phones, laptops, and desktops are increasingly using DC-DC converters. The global DC-DC converter market is predicted to expand as the demand for these portable devices grows. Computers, laptops, cellular phones, spacecraft power systems, buses, and lighting systems all require DC-DC converters, which are then used in consumer electronics, IT & telecommunication, energy & power, and automotive applications.

Global DC-DC Converter Market Drivers:

In the anticipated year, the expanding power sector will be the primary driver of the DC-DC converter market. The need for energy has risen dramatically in both developed and developing countries. As a result of many countries' inability to meet the rising energy demand, projects in the alternate power and energy sector are gaining traction to meet the rising energy demand. Industries all across the world are looking for alternative energy sources that could be safer and more reliable. As a result, the DC-DC converter industry has seen fast growth.

Across numerous regions, the aerospace industry is proving to be one of the fastest-growing industries. These can be linked to the growing need for satellite services for GPS and telecommunications, as well as the operation of unmanned aerial vehicles (UAVs). The commercial and military industry is likely to increase across several areas as operations involving unmanned aerial vehicles become more common.

Global DC-DC Converter Market Restraints:

Designing a DC-DC converter is one of the most difficult steps in the manufacturing process. This procedure entails selecting several components that are a vital aspect of a DC-DC converter as well as accounting for its size. As a result, selecting these components and making a product that is compact, efficient, and produces precise output is a big difficulty for DC-DC converter producers. Smaller DC-DC converters are more likely to have a poor heat sink. As a result, product producers face a challenge in delivering a small DC-DC converter with adequate heat efficiency to improve efficiency.

Impact of COVID-19 on the DC-DC Converter Market:

The COVID-19 outbreak has had a substantial influence on the global DC-DC Converter industry. Due to the slowdown and unavailability of workers around the world, the DC-DC Converter's production facilities have been shut down. The COVID-19 outbreak has resulted in a major and long-term decline in production usage, as well as travel prohibitions and facility closures, which may cause the DC-DC Converter market to slow down in 2020.

REPORT COVERAGE:

This research report on the global DC-DC converter market has been segmented and sub-segmented into the following categories.

DC-DC Converter Market – By Type:

• Isolated DC-DC Converters
• Non-isolated DC-DC Converters

By value, isolated DC-DC converters are predicted to grow the most. An isolated DC-DC converter eliminates the input supply channel from the output supply with the use of a transformer. During the anticipated year, the market for isolated DC-DC converters will grow in tandem with the growing demand for consumer electronics. In terms of safety, it is advised that an electronic system's input and output be isolated because converters that operate at a high and potentially dangerous voltage should be separated from outputs that require a lower voltage.

DC-DC Converter Market – By Industry:

• Telecommunication
• Automotive
• Industrial Robots
• Service Robots
• Aerospace & Defense
• Medical
• Railway
• Server
• Storage & Network
• Consumer Electronics
• Energy and Power
• Marine

In numerous countries throughout various areas, the industrial sector is growing in terms of production automation. This marks a turning point in the manufacturing industry's overall control of the industrial value chain. With the growing need for high-quality products among clients, the demand for industrial robots in the manufacturing industry is also rising, as they are said to deliver more efficiency and lower the risk of error. As a result, the growing use of industrial robots in the manufacturing sector will boost demand for DC-DC converters in the coming year.

The telecommunications industry is expanding in many countries around the world. As a result, the communications vertical for the DC-DC converter is expected to develop over the projection period, with a large increase in the cellular phone market each year and the approaching 5G spectrum.

DC-DC Converter Market – By Output Power:

• 0.5-9W
• 10-29W
• 30-99W
• 100-250W
• 250-500W
• 500-1000W
• >1000W

During the forecast period, the DC-DC converter market is expected to develop at the fastest CAGR in the >1000W output power sector. These feature a wide input voltage range, allowing them to work in a variety of industrial applications. They can also perform at greater temperatures, making them one of the best converters for delivering correct output voltage under a variety of input voltages.

DC-DC Converter Market – By Output Voltage:

• <2v
• 3.3v
• 5v
• 12v
• 15v
• 24v
• >24v

During the forecast period, the 2v output voltage segment is expected to grow at the fastest CAGR in the DC-DC converter market. When compared to converters with other output voltages, power converters with such low voltage output are known as step-down DC-DC converters and have higher efficiency. During the forecasted period, demand for DC-DC converters with output voltages of less than 2 volts would rise due to the rising demand for low-power consumer gadgets.

DC-DC Converter Market – By Output Number:

• Single
• Dual
• Triple
• Multiple

During the forecast period, multiple-output DC-DC converters are expected to grow at the fastest CAGR in the DC-DC converter market. The demand for DC-DC converters is rising in tandem with the growing demand for power application products across the sector. To function properly, electrical devices must operate in a regulated environment with varying input voltage. As a result, DC-DC converters with multiple outputs have a wide range of input voltage levels and are capable of producing precise multiple outputs.

DC-DC Converter Market – By Form Factor:

• SIP
• DIP
• DIN Rail
• Box
• Chassis Mount
• Discrete
• Brick

During the forecast period, the DIN Rail DC-DC converter is expected to grow at the fastest CAGR in the DC-DC converter market. DIN rail is a standard metal rail that is widely used for attaching circuit breakers and industrial control equipment. These DC-DC converters can handle a wide range of input voltages, and their flexible specifications make it easy to integrate devices with incompatible voltages into industrial systems.

DC-DC Converter Market – By Region:

•  North America
•  Europe
•  Asia Pacific
•  Latin America 
•  Middle East & Africa

During the forecast period, Asia Pacific is expected to hold the highest regional share of the worldwide DC-DC converter market. The rapid expansion of technologically superior power converters in the Asia Pacific is the main reason for the region's dominance in the worldwide DC-DC converter industry. Manufacturers of DC-DC converters in the Asia Pacific are being encouraged to introduce technologically innovative and efficient goods across a variety of product types by the rise in manufacturing industries and the rising aerospace and military industries.

The North American DC-DC converter market is expected to dominate the worldwide DC-DC converter market due to strong acceptance and demand for DC-DC converters from almost all major industrial verticals, as well as the presence of resources required for DC-DC converter implementation in the area.

Germany and the United Kingdom are actively pushing the use of electric vehicles as a means of reducing pollution increasing electric vehicle sales. The growing market trend of replacing fossil fuel-powered public vehicles with electric buses will stimulate demand for DC-DC converters in Europe's automotive industry.

LEADING COMPANY:

Japanese company TDK-Lambda is the largest manufacturer of DC-DC converters in the world.

KEY MARKET PLAYERS:

Texas Instruments (US), General Electric (US), Vicor Corp (US), Ericcson (Sweden), Murata Manufacturing (Japan), Delta Electronics (Taiwan), Mornsun (China), RECOM Power (Austria), Traco Power (Switzerland), Infineon (Germany)

RECENT HAPPENINGS IN THE MARKET:

• Ericsson, a mobile telecoms equipment manufacturer, has agreed to pay $6.2 billion for Vonage, a cloud communications firm. Ericsson's declared ambition to develop globally in the wireless enterprise, offering existing clients a larger portion of a $700 billion market by 2030, is strengthened by this agreement.  (Source: https://www.businesstoday.in/latest/corporate/story/ericsson-to-acquire-cloud-firm-vonage-for-62-bn-312938-2021-11-22 )
• Texas Instruments Incorporated plans to invest $30 billion in Sherman, Texas, to build 300-mm semiconductor wafer production factories. The entire investment potential at the Sherman site is estimated to be around $30 billion, with 3,000 direct employees expected to be created over time. (Source: https://tylerpaper.com/news/texas/dallas-based-texas-instruments-set-to-invest-30-billion-in-sherman/article_78982d21-d7f8-5e45-ac44-ec2b306de82e.html )
• General Electric, a multinational company, has stated that it will break into three distinct firms, each with its stock exchange listing, specializing in aviation, healthcare, and energy. (Source: https://www.ndtv.com/business/general-electric-to-split-into-3-companies-2604642 )
• Delta Electronics Inc. plans to supply three energy storage devices the size of shipping containers to clients interested in participating in Taiwan Power Co's new energy trading platform. The platform, launched in early 2021, aims to make it easier for private owners of electrical equipment, such as generators or power storage units, to sell their energy resources to Taipower, allowing the state-run utility to be more flexible and the national grid to be more stable. (Source:https://www.taipeitimes.com/News/biz/archives/2021/11/25/2003768442 )