According to Future Market Insights (FMI), the global automotive DC-DC converter market is projected to reach a valuation of USD 21,996 million in 2023. Sales of automotive DC-DC converters are expected to grow at a robust compound annual growth rate (CAGR) of 30.1% from 2023 to 2033, with the market size forecast to reach USD 289,542 million by 2033.
In 2023, isolated DC-DC converters lead the global market, commanding approximately 86.1% of the share. Among vehicle types, Battery Electric Vehicles (BEVs) hold a significant portion of the automotive DC-DC converter market.
The rapid expansion of the automotive DC-DC converter market is largely driven by the booming electric vehicle (EV) sector. With increasing environmental concerns and rising fuel costs, electric vehicles are gaining popularity, and governments around the world are promoting their adoption. This growing emphasis on electric vehicles is expected to boost the demand for automotive DC-DC converters.
DC-DC converters are crucial for electric vehicles as they manage and control various electrical systems and components. The demand for these converters is integral to the proper functioning of EVs.
Manufacturers are enhancing the material quality and design of automotive DC-DC converters to meet the rising demand for more efficient solutions across different types of electric vehicles. To expand their market presence, key manufacturers are actively pursuing joint ventures and acquisitions with local businesses. They are also focusing on broadening their customer base by developing and offering solutions that cater to varying power ranges and voltage requirements in electric vehicles.
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Key Takeaways of Global Automotive DC-DC Converter Market Study:
- The global automotive DC-DC converter industry is anticipated to reach a valuation of USD 289,5432 million by 2033.
- Based on power output, the >1000W segment holds around 0% share of the global market.
- By product type, insulated DC-DC converter segment accounts for about 1% share of the market.
- China automotive DC-DC converter industry is likely to reach a valuation of USD 26,972.8 million by 2033.
- Demand for automotive DC-DC converters in Japan is likely to rise at 7% CAGR over the next ten years.
- The United States automotive DC-DC converter industry is forecast to expand at 8% CAGR through 2033.
“‘Range Anxiety’ represents a significant apprehension among electric vehicle owners, stemming from the fear of batteries depleting power before reaching their intended destinations or charging facilities. This concern is widely acknowledged within the electric vehicle community and is effectively addressed by the implementation of highly efficient DC-DC converters. As such, the perception of consumers towards Electric Vehicles remains a crucial factor in shaping the trajectory of the market’s development. Manufacturers have a strategic window of opportunity to proactively influence and capitalize on the promising prospects within the market.” says a lead Future Market Insights (FMI) analyst
Who is Winning?
Tier-1 Players account for around 40% to 45% of the overall market. These tier I players include Texas Instruments Inc., TDK Corporation, Murata Manufacturing Co. Ltd., STMicroelectronics, and Others.
Tier II and other players include manufacturers with a total annual revenue of less than US$ 250 million from the sales of automotive DC-DC converters. The manufacturers such as Infineon Technologies AG, Toshiba, Silver Atena, Fujitsu, Analog Devices (Maxim Integrated), Vicor Power, Semtech Corporation, Bel Fuse Corporation, and other regional and local players are expected to hold 55% to 60% of the market share.
Leading automotive DC-DC converter manufacturers are employing various strategies to increase their sales and expand their global footprints. This includes new product launches, acquisitions, partnerships, collaborations, mergers, facility expansions, and agreements. For instance,
- In March 2022, TDK Corporation introduced new ultra-low profile DC-DC converters for various applications.
Find More Valuable Insights:
The research report analyzes the market demand trends of the global automotive DC-DC converter market. The market estimation and growth projection are based on factors such as end-use industries development, COVID-19 crisis impact, replacement ratio, and rate of urbanization.
As per Future Market Insights’ (FMI) research scope, the automotive DC-DC converter market has been studied and segmented based on vehicle type, voltage, output power, sales channel, product type, form factor, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the supply and demand sides of the market.
Extensive Market Research: Complete Report and Findings
Global Automotive DC-DC Converter Market Segmentation
By Vehicle Type:
- NEV (Neighborhood Electric Vehicle)
- BEV (Battery Electric Vehicle)
- HEV (Hybrid Electric Vehicle)
- PHEV (Plug-in Hybrid Electric Vehicle)
- FCEV (Fuel Cell Electric Vehicle)
By Voltage:
- 3V-14V
- 15V-36V
- 36V-75V
- >75 V
By Output Power:
- 0.25-250 W
- 250-500 W
- 500 -1000 W
- >1000W
By Sales Channel:
- First Fit
- Aftermarket
By Product Type:
- Isolated
- Non Isolated
By Form Factor:
- Full Brick
- Half Brick
- Quarter Brick
- Eight Brick
- Sixteen Brick
- Others
By Country:
- United States
- Canada
- Brazil
- Mexico
- Rest of Latin America
- Germany
- Italy
- France
- United Kingdom
- Spain
- BENELUX
- Russia
- Rest of Europe
- China
- Japan
- South Korea
- India
- ASEAN
- Australia and New Zealand
- Rest of South Asia & Pacific
- GCC Countries
- Türkiye
- Northern Africa
- South Africa Rest of Middle East and Africa
