Global DC-DC Converter Market Insights Forecasts to 2032

• The Global DC-DC Converter Market Size was valued at USD 11.28 billion in 2022.
• The market is growing at a CAGR of 10.2% from 2022 to 2032
• The Worldwide DC-DC Converter Market is expected to reach USD 29.86 billion by 2032
• North America is expected to grow the fastest during the forecast period

The Global DC-DC Converter Market Size is expected to reach USD 29.86 billion by 2032, at a CAGR of 10.2% during the forecast period 2022 to 2032.

DC-to-DC converters, often known as dc choppers, are power electronics components that convert one DC voltage source to another with varying values and, in certain instances, polarity. The DC-DC converters are most commonly used in applications such as telecoms power supply, electric power transmission, dc motor drive systems, correcting power factors, solar power production systems, and several other applications. DC-DC converters are designed with semiconductors such as insulated gate bipolar transistors (IGBTs), power metal-oxide-semiconductor field effect transistors (MOSFETs), thyristors, or other power-controlled semiconductor devices, and also diodes and LC circuits. For different electronic devices, DC-to-DC converters are utilized to convert high-voltage DC input to low-voltage DC output. These converters are also utilized for isolating some of the most highly sensitive parts in a circuit from the rest of the circuit to prevent harm.

These converters are rapidly being employed in handheld electronic gadgets such as mobile phones, desktop and laptop computers, and tablet computers. The global DC-DC converter market is projected to develop as consumer demand for such portable devices increases. The DC-DC converter is utilized in a variety of industries, including consumer electronics, IT & communications, energy & power, and automotive. It is also used in computers, laptops, mobile phones, spacecraft power systems, buses, and lighting systems.

The Global DC-DC Converter Market is extremely competitive, with several prominent competitors participating in the market. Some of the major players in the market include TDK Lambda Corporation, Texas Instruments Incorporated, Delta Electronics, Flex Ltd, and Infineon Technologies AG. These companies are investing in R&D to expand their offerings and acquire a distinct advantage in the market. For instance, in March 2023, The TDK Corporation announced the addition of new models to its TDK-Lambda brand CCG series of isolated DC-DC converters. The CCG6 and CCG10, rated at 6W and 10W output, are available in both through-hole and surface-mount packages, expanding the range from 1.5W to 10W. Data and telecommunications, test, measurement, process control, broadcast, and battery-powered equipment are some of the applications.

Driving Factors

The increasing trend in the popularity of electric vehicles, the rise in the utilization of DC-DC converters in railway applications, and an overall rise in demand for electrical components are the major drivers driving the expansion of the global DC-DC Converter market. DC-to-DC converters are used to connect all the components of an electric power train by increasing or decreasing the electrical voltage outputs. Furthermore, technological developments in DC-DC converters such as lightweight, compact volume, excellent efficiency, low electromagnetic distortion, and low current/voltage ripple have enhanced their demand in a variety of applications.

Furthermore, the market is being driven by a number of factors, including rising power consumption and increased industrial automation. The market for DC-DC converters is most likely to be driven by growing applications in the industrial sector and rising power consumption across a variety of industries. DC-DC converters are extremely efficient and can aid in the reduction of power usage in electrical and electronic devices. With a greater emphasis on conserving energy and sustainability, demand for power-efficient gadgets is projected to drive market expansion. In addition, DC-DC converters are employed in military vehicles for a variety of purposes including self-driving vehicle processing, emergency response equipment, and surveillance capabilities. Considering all these factors, demand for DC-DC converters is expected to rise in the coming years. As a result, given all of these considerations, demand for the DC-DC converter market is projected to expand over the forecast period.

Restraining Factors        

However, the expansion of the DC-DC Converter market is hampered by regulations and safety norms. As a result, manufacturing these components is a difficulty for product producers. These items must be constructed in accordance with regulatory and safety standards such as EN60950 and UL60950 for IT equipment, which serves as statutory requirements to avoid injury or damage caused by any potential hazards.

Market Segmentation

By Industry Verticals Insights

The IT & telecommunication segment accounted for the largest revenue share of more than 33.7% over the forecast period.

On the basis of industry verticals, the global DC-DC converter market is segmented into telecommunication, automotive, manufacturing, aerospace & defense, medical, transportation, information technology, consumer electronics, energy and power, and others. Among these, IT & telecommunication are dominating the market with the largest revenue share of 33.7% over the forecast period. This expansion is primarily driven by factors such as energy efficiency, voltage management, signal integrity, capacity savings, and many more. There is a rising demand for energy-efficient solutions that can assist eliminated operational expenses in the IT and telecommunications sectors. DC-DC converters are a common choice in this sector because they are highly efficient, with conversion rates surpassing 90%. DC-DC converters are built to deliver accurate and reliable voltage control, resulting in an excellent choice for numerous purposes in this sector of technology.

By Product Type Insights

The isolated segment is witnessing significant CAGR growth over the forecast period.

On the basis of product type, the global DC-DC converter market is segmented into isolated and non-isolated. Among these, isolated is witnessing significant CAGR growth over the forecast period. The transformer is used for separating the power source channel from the output supply channel in an isolated DC-DC converter. The overall market for isolated DC-DC converters will rise throughout the forecast period due to increased consumer electronics demand for products. Furthermore, the rising need for energy-efficient electronics in application areas such as manufacturing machinery control, industrial automation, healthcare, aerospace, and automotive has resulted in the isolated DC-DC converter domination in the global market.

By Form Factor Insights

The DIN rail segment is dominating the market with the largest revenue share over the forecast period.

On the basis of form factor, the global DC-DC converter market is segmented into SIP, DIP, DIN Rail, Box, Chassis Mount, Discrete, and Brick. Among these, the DIN rail segment is dominating the market with the largest revenue share of 38.6% over the forecast period. A DIN rail is a type of standard metal rail that is commonly and extensively utilized for mounting electrical circuit breakers and industrial control systems. Because of the broad input voltage range and configurable parameters of these DC-DC converters, it is simple to integrate equipment with variable voltages into manufacturing processes.

Regional Insights

Asia Pacific dominates the market with the largest market share over the forecast period.

Asia Pacific is dominating the market with more than 35.28% market share over the forecast period. Asia Pacific is leading the global DC-DC converter market due to the rapid proliferation of technically advanced power converters in the region. The growth of the industrial industry and the development of the aerospace and military sectors in the Asia Pacific are encouraging producers of DC-DC converters to innovate and develop cutting-edge and efficient products across a wide range of market segments. Countries in the Asia-Pacific region such as South Korea, China, Singapore, India, and Japan are focusing on modernizing their communication infrastructures to promote the adoption of 5G, which would eventually boost demand for eligible 5G devices and the market. Furthermore, India has initiated considerable shifts toward electrification of the public transport industry, creating an increasing demand for economical and dependable charging facilities. DC-DC converters are critical components of electric car charging stations because they manage power transmission and transmission between the power source and the electric motor.

North America, on the contrary, is expected to grow the fastest during the forecast period. The increased implementation of Internet of Things (IoT) technology, as well as advancements in surgical equipment for automated energy management and control devices, are likely to fuel the DC-DC converter market growth. Because of the widespread usage and demand for converters across nearly every major business vertical, North America commands an overwhelming majority of the global market. Furthermore, the cost-effectiveness of energy has become a higher concern for consumers, corporations, and governments in the United States, and there is a growing need for power-efficient equipment that uses DC-DC converters.

List of Key Market Players

• Flex Ltd.
• ABB
• Infineon Technologies AG
• General Electric (GE)
• RECOM Power GmbH
• Delta Electronics
• Traco Electronic AG
• Murata Manufacturing Co. Ltd.
• TDK Lambda Corporation
• Ericsson
• Texas Instruments Incorporated
• Vicor Corporation
• Analog Devices, Inc.
• Crane Holdings, Co.
• NXP Semiconductor
• STMicroelectronics
• Renesas Electronics Corporation

Key Market Developments

• On April 2023, STMicroelectronics announced the release of a flexible isolated-buck IC for protected power conversion and the gate driving in IGBTs, SiC, and GaN transistors. The STMicroelectronics L6983i 10W isolated buck (iso-buck) converter offers great efficiency and a small footprint, as well as a low quiescent current and a 3.5V-38V input voltage range. The L6983i is appropriate for applications requiring an isolated DC-DC converter. Isolated gate drivers for IGBTs and silicon-carbide (SiC) or gallium-nitride (GaN) transistors, industrial automation, tiny traction systems, charging stations, and isolated safety devices can all be powered by it.

• On March 2023, Infineon Technologies AG, the world leader in automotive semiconductors, and Delta Electronics, Inc., a Taiwan-based power and energy management firm, is expanding their long-term collaboration from industrial to automotive applications. The contract covers a wide range of components, including high-voltage and low-voltage discrete modules, as well as microcontrollers for use in EV drivetrain applications such as traction inverters, DC-DC converters, and onboard chargers.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global DC-DC Converter Market based on the below-mentioned segments:

DC-DC Converter Market, Product Type Analysis

• Isolated
• Non-Isolated

DC-DC Converter Market, Output Type Analysis

• Single
• Dual
• Triple
• Multiple

DC-DC Converter Market, Output Power Analysis

• 0.5-9W
• 10-29W
• 30-99W
• 100-250W
• 250-500W
• 500-1000W
• >1000W

DC-DC Converter Market, By Form Factor

• SIP
• DIP
• DIN Rail
• Box
• Chassis Mount
• Discrete
• Brick

DC-DC Converter Market, Industry Verticals

• Telecommunication
• Automotive
• Manufacturing
• Aerospace and Defense
• Medical
• Transportation
• Information Technology
• Consumer Electronics
• Energy and Power
• Others

DC-DC Converter Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa