Automotive DC-DC Converters Global Market Report 2024

The automotive direct current (DC)-direct current (DC) converter is a device designed to convert high voltage to low voltage or vice versa, depending on its intended application.

There are two main types of automotive DC-DC converters such as isolated and non-isolated. Isolated converters eliminate the DC path between input and output, while non-isolated converters maintain a direct connection between input and output. Various propulsion types, such as battery electric vehicles (BEV), fuel cell electric vehicles (FCEV), and plug-in hybrid vehicles (PHEV), utilize these converters. Input voltage ranges from < 40V, 40-70V, to >70V, and output voltage ranges from < 1kW, 1-10kW, 10-20kW, to >20kW. These converters find applications in both passenger vehicles and commercial vehicles.

The automotive DC-DC converter market research report is one of a series of new reports that provides automotive DC-DC converter market statistics, including automotive DC-DC converter industry global market size, regional shares, competitors with a automotive DC-DC converter market share, detailed automotive DC-DC converter market segments, market trends and opportunities, and any further data you may need to thrive in the automotive DC-DC converter industry. This automotive DC-DC converter market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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 expansion witnessed during the historical period can be attributed to the growth of the automotive industry, the implementation of stringent emission regulations, increasing consumer demand for electronics, and overall 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 anticipated growth in the forecast period is driven by factors such as increasing vehicle production, the adoption of electric vehicles, rising global urbanization, growing per capita disposable income, and government support. Noteworthy trends expected during this period encompass the utilization of wide-bandgap semiconductors, advancements in digital control and communication, integration of vehicle-to-grid (V2G) technologies, the use of sustainable materials, and a focus on customization and integration.

The surge in the adoption of electric vehicles has significantly contributed to the expansion of the automotive DC-DC converter market. Electric vehicles typically operate with batteries outputting several hundred volts, while internal components necessitate varying voltages, often lower, for optimal performance. Components like air-conditioning and in-built displays operate on lower voltages. The automotive DC-DC converter plays a pivotal role in transforming high voltage to low or vice versa. A notable indicator is the Global EV Outlook 2022 report published in May 2022, which revealed that electric vehicle sales doubled in 2021, reaching a record-breaking 6.6 million. The upswing in electric vehicle adoption has heightened the demand for automotive DC-DC converters, thereby propelling the growth of this market.

Anticipated growth in the automotive DC-DC converter market is closely tied to the escalating production of vehicles. Vehicle production encompasses the comprehensive process of manufacturing, assembling, and constructing various types of vehicles, spanning automobiles, trucks, buses, motorcycles, and other motorized vehicles. Automotive DC-DC converters play a crucial role in regulating and converting electrical voltage within vehicles, ensuring compatibility among diverse systems and components while optimizing power management for enhanced energy utilization. Notably, in November 2022, the European Automobile Manufacturers Association reported a 15.1% year-on-year increase in car manufacturing in China, totaling 16.4 million cars from January to September. This surge in vehicle production is a key driver for the growth of the automotive DC-DC converter market.

Prominent companies in the automotive DC-DC converter market are strategically focusing on product launches to meet the surging demand. These launches often involve introducing new lines of DC-DC converters designed to cater to specific needs. For example, in May 2022, Eaton Corporation, a leading US-based power management company, unveiled a new line of DC-DC converters tailored for 48-volt commercial vehicle architectures. These converters are meticulously crafted to address the unique power requirements of commercial vehicle electrical systems, ensuring efficient power conversion and management solutions. This strategic emphasis on product innovation aligns with the growing demand for automotive DC-DC converters in the market.

Automotive DC-DC converter manufacturers are increasingly focusing on the production of synchronous buck DC-DC converters. These converters are designed to generate a regulated voltage lower than their input voltage, efficiently delivering high currents while minimizing power loss. A notable example is ROHM, which introduced a series of automotive synchronous buck DC-DC converters characterized by reliability and low power consumption in a compact form. These converters find applications in critical systems such as radars, cameras, and sensors utilized in assisted driving.

In January 2023, Micross Components, a US-based provider specializing in high-reliability microelectronic components and services, completed the acquisition of the high-reliability (HiRel) DC-DC converter business from Infineon Technologies AG. The financial details of the acquisition remain undisclosed. This strategic move is poised to enhance Micross Components' capabilities in HiRel DC-DC converter power management solutions. Infineon Technologies AG, a Germany-based semiconductor company, previously operated in the HiRel DC-DC converter business, complementing its portfolio with hybrid and custom board-based power products.

Major companies operating in the automotive dc-dc converters market 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. Ltd., 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

Asia-Pacific was the largest region in the automotive DC-DC converter market in 2023. The regions covered in the automotive DC-DC converter market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the automotive DC-DC converter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The automotive direct current (DC)-direct current (DC) converter market consists of sales of isolated direct current (DC)-direct current (DC) converters and non-isolated direct current (DC)-direct current (DC) converters. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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