The global DC-DC converter market demand is likely to be valued at USD 10,934.0 million in 2023 and is forecasted to value at USD 22,395.4 million capturing a CAGR of 7.4% from 2023 to 2033. From 2018 to 2022, a CAGR of 5.3% was registered for the DC-DC converter market.
A DC-DC converter is an electromechanical device that changes the direct current (DC) source from one voltage level to another. In many appliances where a constant voltage is required, a DC power supply is used. DC-DC power converters are used in a vast variety of applications such as:
Generally, there are two types of DC-DC converters - DC to DC converters with isolation and DC to DC converters without isolation. Some of the commonly used DC to DC converters with isolation include CUK converters, fly-back converters, forward converters, full-bridge converters, half-bridge converters, and push-pull converters. Some of the commonly used DC to DC converters without isolation include buck converters, boost converters, and buck-boost converters.
| Attributes | Key Statistics |
|---|---|
| Growth Rate (2018 to 2022) | 5.3% CAGR |
| Projected Growth Rate (2023 to 2033) | 7.4% CAGR |
| Expected Market Value (2023) | USD 10,934.0 million |
| Anticipated Forecast Value (2033) | USD 22,395.4 million |
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Increasing Use of Electronic Vehicles to Drive the Growth of the Market
DC-DC converters are the critical components of the power supply chain in data centers and telecommunication facilities, expanding the information technology and telecommunication sector across regions globally. It is the prominent factor that drives the growth of the global DC-DC converter market.
The increasing number of vehicles, rising focus on battery-powered special-purpose vehicles, and increasing investment in developing battery-powered cars & bikes accelerate the growth of the global DC-DC converter market.
The increasing sensitivity of various governments toward a clean environment has increased the demand for zero-emission vehicles. Developed nations are promoting the use of electric vehicles to reduce emissions.
The increase in the adoption of electric buses has contributed to the growth of the electric commercial automobile industry. This might drive down the demand for DC-DC converters in the automotive industry during the forecast period. Expanding the number of dc powered applications in manufacturing, healthcare, and defense applications accelerates the growth of the global DC-DC converter market.
Numerous obstacles are likely to pose a challenge to market growth although the DC-DC converter market has numerous end-uses. The cost and complexities related to the development of the product might hinder the growth of the market in the forecasting period.
Lack of technical expertise awareness in developing and underdeveloped economies may impede the growth of the DC-DC converter market. Also, challenges related to reducing power consumption during minimal load are identified as key technological challenges of the global DC-DC converter market.
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The Growing Implementation of IoT in the Region Boosts the Growth of the Market
DC-DC converter market in North America is expected to dominate the market, due to increasing data storage and expanding IoT solutions. North America accounts for a 7.4% share of the total market share of the global DC-DC converter market.
Increasing implementation of the Internet of Things or IoT technology and improvements made in surgical devices for digital power management and control is projected to boost the expansion of the global DC-DC converters market.
North America has the dominant share in the global DC-DC converter market due to the extensive adoption of and demand for DC-DC converters from nearly all key industry verticals.
North America is going to lead the market due to the presence of resources required for the implementation of DC-DC converters in the region. In addition, the increasing use of devices such as computers, laptops, cellular phones, spacecraft power systems, buses, and lighting systems boosts the growth of the market in the region.
The Growing Defence and Aerospace Industry in the Region Drives the Growth of the Market
Europe accounts for a 21.1% market share of the DC-DC converter market. Europe holds the second-largest market share with countries like Spain, Germany, and France.
In the defense & aerospace industry, the design of DC-DC converters has transformed due to several silent technology drivers over the last decade. New military and aerospace programs, airborne drones, homeland security, and future warrior technologies are all striving for lightweight, low-cost, and highly reliable electronic packages that are offered by DC-DC converters.
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The Growing Telecommunication Sector in the Region Boosts the DC-DC Converter Market in the Coming Years.
The Asia Pacific is anticipated to exhibit a significant growth rate in the DC-DC converter market over the forecast period. Asia-Pacific is projected to be the significantly growing DC-DC converter market, due to expanding telecommunication and transportation sectors.
The telecom industry in Asia Pacific countries such as China, Japan South Korea, and Singapore are focusing on upgrading their network infrastructure to boost 5G infrastructure which might ultimately boost the demand for 5G-enabled devices and drive the market.
Increasing use of cellular phones, tablets, and the upcoming 5G spectrum, the telecommunication vertical for the DC-DC converter is projected to grow during the forecast period. For instance,
The new entrants in the Dc-DC converter market are continually indulging in several collaborations and highly investing in research and development activities to provide convenient solutions to the end-users in different industry verticals. Some of the leading start-ups that are leading the development of the market are - MORNSUN, Powertron India Pvt.Ltd, Sairush Electronics system, Monolithic Power system, and Sinpro.
Some of the key participants present in the global DC-DC converter market include General Electric, Texas Instruments, Eaton, FDK Corporation, Cosel Co., Ltd., Ericsson, STMicroelectronics, TDK-Lambda Corporation, and Bel Fuse, Inc. Rectifier Technologies Pacific among others.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as General Electric, Texas Instruments, Eaton, FDK Corporation, Cosel Co., Ltd., Ericsson, and STMicroelectronics account for considerable market size, several regional-level players are also operating across key growth regions, particularly in the Asia Pacific
| Attributes | Details |
|---|---|
| Growth Rate | CAGR of 7.4% from 2023 to 2033 |
| Expected Market Value (2023) | USD 10,934.0 million |
| Anticipated Forecast Value (2033) | USD 22,395.4 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product Type, Number of Output, Application, Region |
| Regions Covered | North America; Europe; Asia Pacific; Japan; The Middle East and Africa |
| Key Countries Profiled | The United States, Canada, Mexico, Brazil, Germany, Italy, France, The United Kingdom, Spain, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | General Electric; Texas Instruments; Eaton; FDK Corporation; Cosel Ltd.; Ericsson; STMicroelectronics; TDK-Lambda Corporation; Bel Fuse, Inc.; Rectifier Technologies Pacific; ABB Ltd.; Delta Electronics Inc.; Infineon Technologies AG |
| Customization | Available Upon Request |
The market is valued at USD 10,934.0 million in 2023.
General Electric, Texas Instruments, and Eaton are the key DC-DC converter industry players.
The cost and complexity of DC-DC converter development across various end-uses deter market growth.
The DC-DC converter market surged at a 5.3% CAGR between 2018 and 2022.
The DC-DC converter market is expected to reach USD 22,395.4 million by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Isolated 5.2. Non-isolated 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Number of Outputs 6.1. Single Output 6.2. Multiple Output 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Telecommunication 7.2. Server and Data Storage 7.3. Medical & Healthcare 7.4. Consumer Electronics 7.5. Aerospace & Defence 7.6. Manufacturing 7.7. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. General Electric 18.2. Texas Instruments 18.3. Eaton 18.4. FDK Corporation 18.5. Cosel Ltd. 18.6. Ericsson 18.7. STMicroelectronics 18.8. TDK-Lambda Corporation 18.9. Bel Fuse, Inc. 18.10. Rectifier Technologies Pacific 18.11. ABB Ltd. 18.12. Delta Electronics Inc. 18.13. Infineon Technologies AG 19. Assumptions & Acronyms Used 20. Research Methodology
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DC-DC Converter Market
