DC DC Converter Market Analysis

Global DC-DC Converter Market Overview

DC-DC Converter Market Size was valued at USD 6481.2 million in 2022. The DC-DC Converter Market industry is projected to grow from USD 6857.1 Million in 2023 to USD 12394.6 million by 2032, exhibiting a compound annual growth rate (CAGR) of 6.8% during the forecast period (2024 - 2032).  An electrical or electromechanical circuit is a DC-DC converter. This device is used for changing the voltage level of a direct current (DC) source from one level to another. In addition to diodes and LC circuits, DC-DC converters employ semiconductors such as thyristors, insulated gate bipolar transistors (IGBTs), power metal-oxide-semiconductor field effect transistors (MOSFETs), and other power-controlled semiconductor devices. A growing number of portable electronic gadgets, including laptops, computers, and cell phones, employ DC-DC converters. The demand for these portable devices is increasing, which is predicted to fuel expansion in the DC-DC Converter Market.

FIGURE 1: DC-DC CONVERTER MARKET SIZE 2019-2032 (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

DC-DC Converter Market Trends

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  INCREASING IOT APPLICATION IN VARIOUS INDUSTRIES

  
  

The rise of the Internet of Things (IoT) has sparked a paradigm shift across industries, fostering a hyperconnected ecosystem where devices and applications converge to drive unprecedented levels of efficiency and innovation. As IoT technologies continue to proliferate, the demand for flexible power solutions and stable voltages has become increasingly pronounced. DC-DC converters have emerged as pivotal components, adept at meeting the dynamic power requirements of IoT applications while extending battery life and enhancing device integration. Their role in ensuring seamless operation and reliability within the IoT ecosystem underscores their significance in powering the future of connected devices and systems.

Across diverse sectors, from healthcare to manufacturing, agriculture, transportation, and retail, the impact of IoT is palpable. In healthcare, IoT devices like wearables and remote monitoring systems are empowering healthcare providers to deliver personalized and proactive care, driven by real-time data insights. Similarly, in manufacturing, IoT-driven predictive analytics and smart sensors are revolutionizing operational processes, enabling preemptive equipment maintenance and optimizing supply chain operations. The transformative potential of IoT extends to agriculture, transportation, and retail, where IoT solutions are enhancing productivity, safety, and customer experiences.

In this dynamic landscape, the reliability and efficiency of power management solutions, such as DC-DC converters, are paramount.  As IoT applications become increasingly sophisticated and pervasive, the need for resilient power infrastructure becomes more pronounced. DC-DC converters play a pivotal role in meeting these demands, ensuring consistent power delivery, optimizing energy consumption, and enhancing overall system performance. Their ability to adapt to evolving power requirements and integration challenges makes them indispensable components in the IoT value chain.

Looking ahead, the symbiotic relationship between IoT and DC-DC converters is poised to drive continued innovation and growth across industries. As IoT technologies evolve and expand into new frontiers, the demand for efficient and reliable power solutions will only intensify. DC-DC converters, with their versatility and adaptability, are well-positioned to meet these evolving demands, powering.  the next wave of IoT-enabled devices, applications, and ecosystems. By embracing the opportunities presented by IoT and leveraging the capabilities of DC-DC converters, businesses can unlock new levels of efficiency, productivity, and connectivity in an increasingly interconnected world.

DC-DC Converter Market Segment Insights:

DC-DC Converter Vertical Insights

Based on vertical, the DC-DC Converter Market has been segmented into Telecommunication, eMobility, Industrial Robots, Service Robots, Aerospace and Defense, Medical, Railway, Server, Storage and Network, Consumer Electronics, Energy and Power and Marine. Energy and Power would be the majority shareholder in 2022, contributing around 17.0 % to the market revenue. DC-DC converters play a crucial role in renewable energy systems, electric vehicles, telecommunications, and many other electronic devices where different voltage levels are required for optimal operation. One of the key market drivers for DC-DC converters is the increasing demand for energy-efficient solutions in various industries. As the focus on sustainability and energy conservation grows, there is a rising need for power conversion technologies that can minimize energy losses and improve overall efficiency.

DC-DC Converter Form Factor Insights

Based on form factor, the DC-DC Converter Market has segmented into Chassis, Chassis Mount, DIN Rail, PCB Mount, Rack, SMD/SMT and Through Hole. The Through Hole based held the largest market share in 2022. A Through Hole DC-DC Converter is a type of electronic device that converts direct current (DC) voltage from one level to another through a printed circuit board (PCB) using through-hole technology. Through-hole technology refers to the method of mounting electronic components onto a PCB by inserting leads or pins into drilled holes on the board and soldering them onto pads. These converters are widely used in various industries, such as telecommunications, automotive electronics, industrial automation, and renewable energy. They are particularly useful for power supply applications where efficient and isolated voltage conversion is required.

DC-DC Converter Input Voltage Insights

Based on input voltage, the DC-DC Converter Market is segmented into <12v, 9-36v, 18-75v, 40-160v and >200v. A <12V category held the majority share in 2022. A <12V input voltage DC-DC converter is a device that takes a DC input voltage of less than 12 volts and converts it to a different DC output voltage level. These converters are commonly used in various electronic devices like mobile phones, laptops, automotive systems, and renewable energy applications where the input voltage needs to be stepped up or down to match the requirements of the system. The market driver for <12V input voltage DC-DC converters is the increasing demand for portable electronic devices with varying power requirements. With the trend towards smaller, more energy-efficient devices, the need for efficient voltage conversion solutions has grown. This drives the development and adoption of DC-DC converters that can efficiently and reliably regulate voltages compactly and reliably, catering to the evolving needs of the electronics market.

FIGURE 2: DC-DC CONVERTER MARKET, BY INPUT VOLTAGE, 2022 VS 2032 (USD MILLION)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

DC-DC Converter Output Voltage Insights

Based on output voltage, the DC-DC Converter Market has been segmented into <2v, 3.3v, 5v, 12v, 15v, 24v and >24v. A 5V output voltage held the largest market share in 2022 as these converts a higher voltage input to a stable 5V output voltage, commonly used in various electronic devices like smartphones, tablets, and IoT devices. This type of converter is crucial in providing a consistent power supply to sensitive components that require a 5V input. The market driver for 5V output DC-DC converters is the increasing demand for portable electronic devices with efficient power management. As technology advances, there is a growing need for smaller, more energy-efficient devices that can operate at lower voltages like 5V. This demand is being fueled by trends such as the Internet of Things (IoT), wearable technology, and mobile computing, where compact and reliable power solutions are essential. Manufacturers are developing innovative 5V output DC-DC converters to meet these market demands and enhance the performance of modern electronic devices.

DC-DC Converter Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East and Africa and South America. The Asia-Pacific DC-DC converter market is expected to experience significant growth in the coming years, driven by a range of factors.  One of the key drivers is the increasing demand for DC-DC converters in the automotive sector, where they are used in electric and hybrid vehicles. The region is also experiencing rapid growth in the telecommunications sector, which is expected to contribute to the development of the market as DC-DC converters are used in 5G networks and other communication devices. Additionally, the growth of renewable energy systems is expected to boost the demand for DC-DC converters in the region. However, the market is also facing challenges, such as intense competition and the presence of low-cost manufacturers in some countries. Despite these challenges, the Asia-Pacific DC-DC converter market is poised for growth in the coming years as companies continue to invest in new technologies and expand their product offerings to meet the changing needs of customers.

The North American is the second largest rapidly growing market in DC-DC converter market is a that is driven by the increasing demand for energy-efficient and high-performance electronic devices. DC-DC converters are electronic devices that convert a high-voltage DC input into a lower voltage DC output for powering electronic devices. They are used in a wide range of applications, including data centres, industrial equipment, consumer electronics, and automotive systems. The market for DC-DC converters in North America is driven by several factors, including the increasing adoption of renewable energy sources, the growing demand for electric and hybrid vehicles, and the need for high-performance computing solutions. In addition, the increasing focus on energy efficiency and sustainability is driving demand for DC-DC converters that can provide high efficiency, low heat dissipation, and reliable power delivery.

The Europe DC-DC converter market is expected to experience significant growth in the coming years, driven by a range of factors. One of the key drivers is the increasing demand for DC-DC converters in the automotive sector, where they are used in electric and hybrid vehicles. The growth of renewable energy systems is also expected to contribute to the development of the market, as DC-DC converters are used in solar and wind power systems.

FIGURE 3: DC-DC CONVERTER MARKET SIZE BY REGION 2022 VS 2032

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Further, the major countries studied in the market report are the U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, China, Japan, India, Brazil, Argentina, GCC countries, South Africa, and Others.

DC-DC Converter Key Market Players & Competitive Insights

The DC-DC Converter market is distinguished by the presence of numerous DC-DC Converter and local players catering to the sachet packaging techniques that are evolving at a rapid pace. Furthermore, the Increasing popularity of cycling, rising demand for DC-DC Converter among the cyclists for the customization of bicycle, and Growing awareness of the health and environmental benefits of cycling is further driving the growth of DC-DC Converter Market during the forecast period.

The DC-DC Converter market is extremely competitive, with players competing, partnering, and investing heavily in research and development to gain a significant market share. The market is moderately fragmented with rising competition, increasing collaborative partnerships, and other strategic decisions to achieve operational efficiency.

During the study, MRFR has analyzed some of the major players in the DC-DC Converter market who have contributed to the market growth. These include Texas Instrument, Delta Electronics Inc., Vicor Corporation, Mouser Electronics, Murata Manufacturing Co, Ltd., General Electric, Traco Electronics AG, Analog Devices, Inc., STMicroelectronics NV, cui Inc., Cincon ElectronicsCo., Ltd., TDK-Lambda Corporation, and Infineon Technologies AG in DC-DC Converter market. These players focus on expanding and enhancing their product portfolio and services to remain competitive and increase their customer base. Additionally, these players are focusing on partnerships & collaborations to expand their business and customer base to enhance their market position.

Key Companies in the DC-DC Converter Market include.

• Texas Instrument


• Delta Electronics Inc.


• Vicor Corporation


• Mouser Electronics


• Murata Manufacturing Co, Ltd.


• General Electric


• Traco Electronics AG


• Analog Devices, Inc.


• STMicroelectronics NV


• CUI Inc.


• Cincon Electronics Co., Ltd.


• TDK-Lambda Corporation


• Infineon Technologies AG


• Others

DC-DC CONVERTER Industry Developments

• In June 2022, TDK Corporation announced the ruggedized non-isolated DC-DC converters of the 250W rated TDK-Lambda RGA series. The step-down converter operates between 9 and 40 volts or 9 and 53 volts as an input voltage, and it can provide output voltages that are 3.3 to 15 volts, 3.3 to 24 volts, or 3.3 to 40 volts with an output current of up to 20 amps.


• In November 2021, Cincon Electronics released the EC2SBW-H Series. Featured with a W 4: input ran e” x” C-DC converter, input ranges are 9-36VDC and 18-74VDC. This series is available in single outputs of 3.3, 5, 12, and 15 VDC and in dual outputs of ±12 and ±15 VDC. The remote on/off function is also provided. In addition, this series provides optional models of industrial M2 grade that could operate at -55°C.

DC-DC Converter Market Segmentation:

DC-DC Converter Vertical Outlook

• Telecommunication


• eMobility


• Industrial Robots


• Service Robots


• Aerospace and Defense


• Medical


• Railway


• Server, Storage and Network


• Consumer Electronics


• Energy and Power


• Marine

DC-DC Converter Form Factor Outlook

• Chassis


• Chassis Mount


• DIN Rail


• PCB Mount


• Rack


• SMD/SMT


• Through Hole

DC-DC Converter Input Voltage Outlook

• <12v


• 9-36v


• 18-75v


• 40-160v


• >200v

DC-DC Converter Output Voltage Outlook

• <2v


• 3v


• 5v


• 12v


• 15v


• 24v


• >24v

DC-DC Converter Output Power Outlook

• 0-100W


• 101-250W


• 251W-500W


• 500-1000W


• >1000W

DC-DC Converter Output Number Outlook

• Single


• Dual


• Triple


• Multiple

DC-DC Converter Product Type Outlook

• Isolated DC-DC Converter


• Non-Isolated DC-DC Converter

DC-DC Converter Isolation Working Voltage Outlook

• 50-150V


• 150-250V


• 200-1000V


• 1000-2500V


• >2500V

DC-DC CONVERTER Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Spain
  
  
  • Italy
  
  
  • Denmark
  
  
  • Austria
  
  
  • Netherlands
  
  
  • Poland
  
  
  • Sweden
  
  
  • Austria
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Middle East & Africa
  
  
  
  • Saudi Arabia
  
  
  • UAE
  
  
  • South Africa
  
  
  • Rest of Middle East & Africa
  
  
  
  


• South America
  
  
  
  • Brazil
  
  
  • Argentina
  
  
  • Rest of South America