Pune, India, Dec. 15, 2022 (GLOBE NEWSWIRE) — The global DC-DC converter market size reached USD 9.17 billion in 2021. The market is expected to grow from USD 10.04 billion in 2022 to USD 21.92 billion by 2029, exhibiting a CAGR of 11.79% during the forecast period. Strong demand for electronics and electric vehicles is expected to propel industry growth. Fortune Business Insights™ presents this information in its report titled “DC-DC Converter Market, 2022-2029.“
Reduced Production of Electronics Hampered Industry Growth During the Pandemic
This market was negatively affected during the COVID-19 pandemic due to reduced electronics production. The alarming spike in COVID-19 infections led to the closure of manufacturing facilities. This factor disrupted the supply chain and hindered the industry’s growth prospects. Furthermore, travel and transport restrictions resulted in a lack of raw materials. However, the resumption of activities after the post-COVID-19 pandemic empowered manufacturers to boost their businesses and enhance their market growth during the pandemic.
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List of Key Players Profiled in the Report
- Advanced Energy Industries, Inc. (U.S.)
- Analog Devices, Inc. (U.S.)
- ABB (Switzerland)
- Crane Holdings, Co. (U.S.)
- Delta Electronics, Inc. (Taiwan)
- Flex Ltd (Singapore)
- Infineon Technologies AG (Germany)
- Murata Manufacturing Co., Ltd. (Japan)
- NXP Semiconductor (Netherlands)
- Renesas Electronics Corporation (Japan)
- Skyworks Solutions, Inc. (U.S.)
- STMicroelectronics (Switzerland)
- TDK Corporation (Japan)
- Texas Instruments Incorporated (U.S.)
- Vicor Corporation (U.S.)
|Market Size in 2022||USD 10.04 Billion|
|2029 Value Projection||USD 21.92 Billion|
|Growth Rate||CAGR 11.79% 2022-2029|
|Historical Data for||2018 – 2020|
|Forecast Period||2022 – 2029|
|Segments Covered||By Input Voltage, By Type, and End-user|
|Growth Driver||Robust Adoption of Portable Electronic Gadgets to Facilitate Market Growth|
Quick Buy: DC-DC Converter Market Report 2022 – 2029
Isolated Segment Dominated the Market Attributable to Rising Power Electronics Adoption
By type, the market is segmented into isolated and non-isolated. The isolated segment dominated the market due to increasing power electronics adoption.
100-500V Segment to Lead Owing to Robust Adoption from the Automotive and Telecommunications Industries
As per input voltage, the market is classified into upto 40V, 40V-100V, 100V-500V, and 500-1000V. The 100-500V segment dominated the market due to strong adoption from the automotive and telecommunications industries.
100-500V Segment to Rising Electronic Vehicle (EV) Adoption
According to output voltage, the market is classified into 100V, 100V-500V, and 500V-1000V. The 100-500V segment is expected to lead due to rising Electronic Vehicle (EV) adoption.
Energy & Power Segment to Hold Dominant Market Share Owing to Robust Adoption from Developing Countries
Based on end-user, the market is categorized into telecommunications, automotive, consumer electronics, energy & power, aerospace & defense, healthcare, and others. The energy & power segment is expected to lead due to the strong adoption of developing countries.
Regionally, the market is clubbed into North America, Europe, Asia Pacific, and the Rest of the World.
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The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
Drivers and Restraints
Robust Adoption of Portable Electronic Gadgets to Facilitate Market Growth
DC-DC converters are utilized in numerous electronic devices such as computers, laptops, and cell phones. The robust adoption of portable electronic gadgets is expected to fuel the demand for converters. Furthermore, the increasing adoption of power electronics is likely to bolster sales. Moreover, the increasing demand for high-performance and 5G-powered devices is likely to enhance the demand for high-performance semiconductors. Also, the rising demand for storage capacity and computing power is expected to propel the demand for converters. In addition, the robust demand for electronic vehicles is likely to drive the DC-DC converter market growth.
However, high-frequency noise associated with power converters may hinder market progress.
Rapid Expansion of the Telecommunications Sector to Propel Market Growth in Asia Pacific
Asia Pacific is projected to dominate the DC-DC converter market share as rapid expansion of the transport and telecommunications industries is expected to foster the product adoption. The market in Asia Pacific stood at USD 4.83 billion in 2021 and is expected to gain a huge portion of the global market share in the coming years. In addition, the increasing demand for 5G-powered devices is expected to enhance market progress.
North America grew at a significant rate in terms of the market share in 2021. due to increasing adoption of the Internet of Things (IoT) for developing surgical devices. Further, the robust demand for DC-DC converters for producing portable electronics may propel the market progress.
In Europe, the rapid transformation of converters from the aerospace and defense industries is expected to boost DC-DC converter adoption. Moreover, the rising demand for extremely reliable, affordable, and lightweight electronic packages by national security, airborne drones, and military and space programs may fuel market progress in the region.
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Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Air and Liquid Cooled DC-DC Converter
- High-Capacity Applications (15 KW and above)
- Bi-Directional DC-DC Converters Analysis
- Semiconductors Used in DC-DC Converters Analysis
- Product Scalability Analysis
- Quantitative Insights-Impact of Covid-19 on Global DC-DC Converter Market
- Impact of COVID-19 Pandemic on the Global DC-DC Converter Market
- Steps Taken by the Industry/Companies/Government to Overcome the Impact
- Key Development in the Industry in Response to COVID-19 Impact
- Global DC-DC Converter Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Definitions
- Market Analysis, Insights and Forecast – By Type
- Market Analysis, Insights and Forecast – By Input Voltage
- Upto 40V
- 40V to 100V
- 100V to 500V
- 500V to 1000V
- Market Analysis, Insights and Forecast – By Output Voltage
- Upto 100V
- 100V to 500V
- 500V to 1000V
- Market Analysis, Insights and Forecast – By End User
- Consumer Electronics
- Energy & Power
- Aerospace & Defence
- Market Analysis, Insights and Forecast – By Region
- North America
- Rest of the world
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Major Players Focus on Expansion Strategies to Enhance their Product Offerings
The prominent companies operating in the market focus on expansion strategies to enhance their product offerings. For example, ABB Power Conversion focused on expanding its DC/DC bus converters using multiple novel modules and a 1500-watt (W) converter. This range is considered to be among the highest-powered quarter-brick converters. This strategy may empower manufacturers to enhance their product offerings, attract sales, and enhance brand image. Further, several companies devise mergers, acquisitions, partnerships, research & development, innovations, and industrial automation to foster their market position globally.
Key Industry Development
- March 2022- Wide adoption and implementation of 5G technology enabled ABB Power Conversion to extend its DC-DC converter solution offerings by announcing its CC1600 high-voltage DC/DC converter and CC1600 rectifier alongside a line power downstream converter named QS200.
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