The Global Automotive DC-DC Converter Market size is expected to reach $15.3 billion by 2030, rising at a market growth of 28.2% CAGR during the forecast period. In the year 2022, the market attained a volume of 2,231.9 thousand units, experiencing a growth of 10.4% (2019-2022).
Supportive government policies will drive market expansion in Europe in the upcoming years. Hence, Europe segment is anticipated to capture approximately 28% share of the market by 2030. Many European nations provide financial incentives and subsidies to lower the initial cost of buying electric vehicles. These incentives could take advantage of grants, tax reductions, or rebates. For instance, Germany gives "Umweltbonus," a purchasing subsidy that offers buyers of electric vehicles a financial benefit, due to which the market will grow in this region. Some of the factors impacting the market are rising electrification in vehicles, EVs are becoming more prevalent, and varying regional/national regulatory compliance and safety standards.
Automotive original equipment manufacturers (OEMs) are encouraged to incorporate cutting-edge technologies in their vehicle offerings to improve fuel efficiency due to the increasing adoption of strict emission requirements. Electric drivetrains have been developed for medium and heavy commercial vehicles (M&HCVs) due to this trend. As technology advances and infrastructure improves, electric vehicles are expected to play an increasingly prominent role in the automotive industry. Therefore, these developments will increase the demand for DC-DC converters, thereby propelling the growth of the market in the coming years. According to the International Energy Agency (IEA), in 2022, 14% of all new automobiles sold were electric, up from less than 5% in 2020 and roughly 9% in 2021. China led the way, representing around 60% of global sales of electric vehicles. China currently accounts for more than half of all-electric vehicles on the road, and the nation has already surpassed its goal for new energy vehicle sales by 2025. National incentives and programs will boost sales, and a return to last year's extraordinarily high oil prices could further entice potential customers. This market is projected to expand in conjunction with the rising demand for electric vehicles.
However, to prevent harm from occurring to people or property due to potential threats like electric shock, energy hazards, fire, mechanical and heat hazards, radiation hazards, and chemical hazards, several international and domestic regulations and standards have been developed for DC-DC converters. Manufacturers have to spend money on testing, certification, and research and development to ensure their converters fulfill these standards, which can be expensive to comply with. Such factors may hamper the growth of the market in the coming years.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, Infineon Technologies AG, Eaton Corporation PLC, BorgWarner Inc., Vicor Corporation, Toyota Industries Corporation, Skyworks Solutions, Inc., Texas Instruments, Inc., Continental AG, and HELLA GmbH & Co. KGaA
Supportive government policies will drive market expansion in Europe in the upcoming years. Hence, Europe segment is anticipated to capture approximately 28% share of the market by 2030. Many European nations provide financial incentives and subsidies to lower the initial cost of buying electric vehicles. These incentives could take advantage of grants, tax reductions, or rebates. For instance, Germany gives "Umweltbonus," a purchasing subsidy that offers buyers of electric vehicles a financial benefit, due to which the market will grow in this region. Some of the factors impacting the market are rising electrification in vehicles, EVs are becoming more prevalent, and varying regional/national regulatory compliance and safety standards.
Automotive original equipment manufacturers (OEMs) are encouraged to incorporate cutting-edge technologies in their vehicle offerings to improve fuel efficiency due to the increasing adoption of strict emission requirements. Electric drivetrains have been developed for medium and heavy commercial vehicles (M&HCVs) due to this trend. As technology advances and infrastructure improves, electric vehicles are expected to play an increasingly prominent role in the automotive industry. Therefore, these developments will increase the demand for DC-DC converters, thereby propelling the growth of the market in the coming years. According to the International Energy Agency (IEA), in 2022, 14% of all new automobiles sold were electric, up from less than 5% in 2020 and roughly 9% in 2021. China led the way, representing around 60% of global sales of electric vehicles. China currently accounts for more than half of all-electric vehicles on the road, and the nation has already surpassed its goal for new energy vehicle sales by 2025. National incentives and programs will boost sales, and a return to last year's extraordinarily high oil prices could further entice potential customers. This market is projected to expand in conjunction with the rising demand for electric vehicles.
However, to prevent harm from occurring to people or property due to potential threats like electric shock, energy hazards, fire, mechanical and heat hazards, radiation hazards, and chemical hazards, several international and domestic regulations and standards have been developed for DC-DC converters. Manufacturers have to spend money on testing, certification, and research and development to ensure their converters fulfill these standards, which can be expensive to comply with. Such factors may hamper the growth of the market in the coming years.
Type Outlook
On the basis of type, the market is segmented into isolated and non-isolated. In 2022, the isolated segment dominated the market with the maximum revenue share. To get the required output voltage level, isolated DC-DC converters can step up (boost), down (buck), or invert the input voltage. These are available in various topologies, such as flyback, forward, push-pull, and full-bridge, each with advantages and limitations. These converters usually include a control circuit that modifies the duty cycle of the converter's switching transistors to control the output voltage.Vehicle Type Outlook
By vehicle type, the market is classified into BEV and PHEV. The PHEV segment recorded a remarkable revenue share in the market in 2022. Plug-in hybrid electric vehicles (PHEVs) that combine gasoline and electricity have an internal combustion engine, a battery, an electric motor, and a gas tank. Gasoline and electricity are also possible fuel sources for PHEVs. PHEVs can operate on gasoline when the battery runs out since they have electric and internal combustion engines (ICEs). This increased range essentially eliminates concerns about battery life running out. PHEVs are better suited for drivers who frequently travel long distances or don't have access to charging infrastructure because they offer more flexibility for longer trips.
Application Outlook
Based on application, the market is fragmented into passenger cars and commercial vehicles. In 2022, the passenger cars segment held the highest revenue share in the market. Increased middle-class income and growing consumer interest in environmentally friendly products will drive future passenger car growth. Many nations are trying to lower greenhouse gas emissions and convert to a more environmentally friendly transportation system. Owning an electric vehicle can be considered a sign of an innovative thinking, environmentally conscious mindset that adds to its desirability. To reduce GHG emissions from the automobile sector, car companies, including Tesla, Honda, Hyundai, and Ford, are producing passenger electric vehicles.Regional Outlook
Region-wise, the market is analyzed into North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region witnessed the largest revenue share in the market. Due to supportive government policies, expanding charging infrastructure, and technology improvements, the value of the regional market will probably increase. A significant and rapidly expanding middle class with increased purchasing power exists in the Asia Pacific. More consumers consider electric vehicles a feasible alternative as their prices continue to drop and become more competitive with those of internal combustion engine vehicles. There is an increasing interest in cleaner and more sustainable transportation solutions as major cities in developing nations, including China and India, deal with considerable air pollution problems.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, Infineon Technologies AG, Eaton Corporation PLC, BorgWarner Inc., Vicor Corporation, Toyota Industries Corporation, Skyworks Solutions, Inc., Texas Instruments, Inc., Continental AG, and HELLA GmbH & Co. KGaA
Strategies Deployed in the Market
- Aug-2023: Infineon Technologies AG unveiled IAUTN06S5N008, IAUTN06S5N008G, IAUTN06S5N008T, AUTN12S5N017, IAUTN12S5N018G, and IAUTN12S5N018T, in OptiMOS 5 offering of automotive MOSFETs in the 60 V and 120 V range with the new products in the high-power packages TOLG, TOLL, and TOLT. The launched product, 60V MOSFETs excellently suited for high-power 24 V delivered CAV applications or for HV-LV DCDC converters in xEVs.
- Jun-2023: BorgWarner Inc. signed an agreement to acquire Electric Hybrid Systems (EHS), a business segment of Eldor Corporation S.p. A., which designs and manufactures automobile products. This acquisition aims to strengthen BorgWarner’s potential in engineering compact and efficient 400V and 800V onboard chargers that would be compatible with the diversity of regional grid configurations founded worldwide while bringing innovative and economically high-frequency DC/DC converter technology to the offerings.
- May-2023: Infineon Technologies AG signed an agreement with Hon Hai Technology Group, an electronics manufacturing services provider. This agreement aims to develop modern electromobility with structured and intelligent features. Moreover, both companies would implement the SiC technology in automotive high-power applications such as traction inverters, DC-DC converters, and onboard chargers.
- Jan-2023: BorgWarner Inc. expanded its business to Bangalore, India with a 95,000 square foot electric propulsion engineering center. Following this expansion, the company's team would work on DC/DC converters, inverters, onboard chargers, battery management systems, integrated drive modules, and propulsion controllers.
- May-2022: Eaton Corporation PLC revealed a family of 48-volt DC-DC converters for diesel-powered commercial vehicles. The launched product could be utilized to power accessories like antilock brakes and lighting.
- Sep-2020: Texas Instruments, Inc. unveiled TPS63900, the industry’s first DC/DC buck-boost converter. The launched product would integrate programmable input current limit and integrated dynamic voltage scaling to expand battery life by at least 50%.
- Apr-2020: Vicor Corporation announced the launch of DCM5614, a new isolated DC-DC converter. The launched product would be created for efficient-critical applications such as shipboard, airborne, and UAV systems.
Scope of the Study
Market Segments Covered in the Report:
By Type(Volume, Thousand Units, USD Million, 2019-2030)
- Isolated
- Non-Isolated
By Vehicle Type(Volume, Thousand Units, USD Million, 2019-2030)
- BEV
- PHEV
By Application(Volume, Thousand Units, USD Million, 2019-2030)
- Passenger Cars
- Commercial Vehicles
By Geography(Volume, Thousand Units, USD Million, 2019-2030)
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Norway
- Netherlands
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Taiwan
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Robert Bosch GmbH
- Infineon Technologies AG
- Eaton Corporation PLC
- BorgWarner Inc.
- Vicor Corporation
- Toyota Industries Corporation
- Skyworks Solutions, Inc.
- Texas Instruments, Inc.
- Continental AG
- HELLA GmbH & Co. KGaA
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 5. Global Automotive DC-DC Converter Market by Type
Chapter 6. Global Automotive DC-DC Converter Market by Vehicle Type
Chapter 7. Global Automotive DC-DC Converter Market by Application
Chapter 8. Global Automotive DC-DC Converter Market by Region
Chapter 9. Company Profiles
Companies Mentioned
- Robert Bosch GmbH
- Infineon Technologies AG
- Eaton Corporation PLC
- BorgWarner Inc.
- Vicor Corporation
- Toyota Industries Corporation
- Skyworks Solutions, Inc.
- Texas Instruments, Inc.
- Continental AG
- HELLA GmbH & Co. KGaA
Methodology
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