DC-DC Converter Market

Market Overview:

The global DC-DC converter market size reached US$ 11.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 20.8 Billion by 2032, exhibiting a growth rate (CAGR) of 6.7% during 2024-2032. The growing consumer demand for various electronic devices, rising focus on renewable energy to maintain sustainability and reduce carbon footprint, and increasing popularity of miniaturization of devices are some of the major factors propelling the market.

A DC-DC converter, also known as a voltage regulator, is an electronic device that is used to convert one direct current voltage level into another while maintaining a consistent and stable output voltage. It is designed to efficiently manage power distribution that allows devices and systems to operate with the appropriate voltage levels they require. It is crucial in maintaining the integrity and reliability of electronic equipment. As it aids in ensuring that voltage fluctuations or disparities do not negatively impact the performance of a product, the demand for DC-DC converters is rising across the globe.

At present, the growing demand for energy efficiency and precise voltage control is influencing the market positively. Moreover, the rising adoption of electronic devices that enable a reliable supply of power to sensitive electronic components while preventing potential damage is strengthening the growth of the market. Apart from this, the growing demand for DC-DC converters, as they assist in minimizing energy wastage, is offering a favorable market outlook. Additionally, the rising development of data centers that require efficient power conversion to support the increased load is offering lucrative growth opportunities to industry investors. Besides this, the increasing utilization of DC-DC converters to provide regulated power to sensors, actuators, and control systems is impelling the growth of the market. In addition, the rising demand for efficient power management and longer battery life of various electronic components is contributing to the growth of the market.

DC-DC Converter Market Trends/Drivers:

Rising consumer demand for electronic devices

The rising adoption of various electronic products, such as smartphones, laptops, personal computers (PCs), and wearables devices among the masses across the globe is bolstering the growth of the market. Additionally, these converters assist in enhancing the functionality and reducing the wastage of these electronic components. Apart from this, they play an essential role in meeting the power requirements of these devices while maintaining portability. In line with this, the rising adoption of numerous electronic devices in the healthcare sector is contributing to the growth of the market. Furthermore, there is an increase in the demand for compact and energy-efficient DC-DC converters to minimize energy consumption.

Increasing focus on renewable energy to maintain sustainability

The rising focus on renewable energy to maintain sustainability and reduce carbon emissions in the environment is supporting the growth of the market. In line with this, there is an increase in the focus on producing solar and wind energy to provide a cleaner environment across the globe. Consumers are also becoming aware of the harmful impact of pollution and preferring sustainable energy sources for performing daily activities. Moreover, they are increasingly adopting electric vehicles (EVs) as compared to conventional vehicles. DC-DC converters play an essential role in EV charging infrastructure to ensure seamless power conversion between various voltage levels in EV batteries and charging stations. They are also utilized in solar panels to ensure that the energy harvested is efficiently converted and stored in batteries or connected to the grid.

Growing popularity of miniaturization of devices

The increasing popularity of miniaturization of devices among individuals is contributing to the growth of the market. In line with this, the rising preference for compact and lightweight devices, such as medical equipment, drones, or portable electronic gadgets, is impelling the growth of the market. These converters are designed to offer high power density that enables them to fit within the constrained spaces of modern devices without sacrificing efficiency. The miniaturization of these devices assists in extended battery life in portable devices, which makes them a crucial component in the technology landscape. In addition, miniaturization can lead to cost savings in terms of materials and manufacturing, as smaller components are often less expensive to produce.

DC-DC Converter Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global DC-DC converter market report, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on mounting style, input voltage, output voltage, and application.

Breakup by Mounting Style:

• Surface Mount
• Through Hole
   

Through hole represents the largest market segment

The report has provided a detailed breakup and analysis of the market based on the mounting style. This includes surface mount and through hole. According to the report, through hole represented the largest segment. Through hole is a traditional and widely used method for attaching these converters to circuit boards. In this approach, the leads or pins of the converters are inserted through holes in the printed circuit board (PCB) and soldered on the other side. This method provides enhanced mechanical support and reliable electrical connections, which makes it suitable for applications where durability and stability are required. It is suitable for various industries, such as aerospace, automotive, and industrial automation, where environmental factors, such as vibration and shock resistance, are critical.

Breakup by Input Voltage:

• 5-36V
• 36-75V
• 75V and Above
   

5-36V accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the input voltage. This includes 5-36V, 36-75V, and 75V and above. According to the report, 5-36V represented the largest segment. 5-36V input voltage range is versatile and adaptable to a wide range of applications. This range covers a broad spectrum of voltage levels commonly encountered in various industries, which makes these converters highly flexible. They can efficiently convert input voltages ranging from as low as 5 volts, often found in battery-powered devices and low-power electronics, up to 36 volts, which is typical in industrial and automotive systems. In addition, this input voltage can be utilized in various applications, such as automotive electronics, solar power systems, robotics, and industrial automation. Their ability to handle a diverse range of input voltages makes them suitable for powering devices in environments with fluctuating power supplies or those requiring compatibility with multiple power sources.

Breakup by Output Voltage:

• 3.3V
• 5V
• 12V
• 15V and Above
   

5V holds the biggest market share

The report has provided a detailed breakup and analysis of the market based on the output voltage. This includes 3.3V, 5V, 12V, and 15V and above. According to the report, 5V represented the largest segment. 5V output voltage is an essential component in a multitude of electronic devices and systems. This output voltage level is widely used in applications ranging from consumer electronics like smartphones, tablets, and universal serial bus (USB) chargers to industrial automation, embedded systems, and microcontroller-based projects. The 5V output voltage is especially popular because it aligns with the standard USB voltage specification. Additionally, many microcontrollers, sensors, and peripheral components operate optimally at 5V, which makes these converters a popular choice in various electronic designs.

Breakup by Application:

• Smartphone
• Servers PCs
• EV Battery
• Railway
• Others
   

Smartphone dominates the market segment

The report has provided a detailed breakup and analysis of the market based on the application. This includes smartphone, servers PCs, EV battery, railway, and others. According to the report, smartphone represented the largest segment. These converters play a vital role in the functionality of modern smartphones. These devices require a stable and efficient power supply to operate seamlessly. Additionally, these converters are critical in delivering a superior user experience by enabling longer battery life, faster processing speeds, and vibrant displays. Apart from this, they contribute to the overall compactness of smartphones by allowing for a smaller battery size while maintaining high performance. Furthermore, these converters ensure that each component receives the precise voltage it requires for optimal performance.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific exhibits a clear dominance, accounting for the largest DC-DC converter market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share.

Asia Pacific held the biggest market share due to the increasing preference for electric vehicles (EVs) among the masses. In line with this, the rising demand for advanced electronic systems among individuals is bolstering the growth of the market in the Asia Pacific region. Moreover, the increasing need for efficient power conversion solutions to support automation and manufacturing processes is supporting the growth of the market. Apart from this, the rising popularity of solar power generation is contributing to the growth of the market in the region.

Competitive Landscape:

Several companies in the market are investing in research and development (R&D) activities to develop advanced converter technologies. This includes improving efficiency, reducing form factors, enhancing thermal management, and increasing power density. They are also focusing on innovating materials and manufacturing processes to make converters more reliable and cost-effective. In addition, manufacturers are working on creating converters with higher efficiency ratings, which not only reduce power consumption but also help in reducing heat generation and extending the lifespan of electronic devices. Furthermore, key players are offering customization services that allow customers to tailor these converters to their specific requirements. This is particularly valuable in industries with unique needs, such as aerospace and healthcare.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• ABB Ltd
• Bel Fuse Inc.
• Delta Electronics Inc.
• Fujitsu Limited
• General Electric Company
• Infineon Technologies AG
• Meggitt plc
• Murata Manufacturing Co. Ltd.
• RECOM Power GmbH
• STMicroelectronics
• TDK Corporation
• Vicor Corporation

Recent Developments:

• In 2023, ABB Power Conversion expanded its already strong line of DC-DC bus converters with multiple new modules, such as a 1500-watt (W) converter, which is among the highest-powered quarter-brick DC-DC converters.
• In 2023, TDK Corporation introduced the 250W rated TDK-Lambda RGA series of ruggedized non-isolated DC-DC converters that are capable of operating from an input voltage of 9 to 40V or 9 to 53V.
• In 2021, Murata introduced several new non-isolated DC-DC converter lines, such as UltraBK™, MonoBK™, and PicoBK™ for distributed power architecture applications. They are developed to provide small size, high efficiency, decreased noise, low EMI, and take up less board space.

DC-DC Converter Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the DC-DC converter market from 2018-2032.
• The research report study provides the latest information on the market drivers, challenges, and opportunities in the global DC-DC converter market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the DC-DC converter industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.