Global Automotive DC-DC Converters Market - 2023-2030
Description
Global Automotive DC-DC Converters Market - 2023-2030
Global Automotive DC-DC Converters Market reached US$ 604.4 million in 2022 and is expected to reach US$ 6,159.0 million by 2030, growing with a CAGR of 33.7% during the forecast period 2023-2030.
The development of several DC-DC converters to convert a direct current (DC) source from one voltage level to another has been prompted by the market's need for higher power density. In the past three years, demand for greater power density, the adoption of smart grids, energy storage systems, and electric vehicles have all grown, driving up the usage of DC-DC converters. DC-DC converter demand is anticipated to increase as a result of the introduction and adoption of cutting-edge technology.
The passenger vehicles segment holds more than 2/3rd share in the market and the increasing demand for electric and hybrid vehicles in the passenger vehicle segment is a major driver for the automotive DC-DC converters market. These vehicles require DC-DC converters to convert and manage power flow between high-voltage batteries and low-voltage systems, such as lighting, infotainment, and HVAC. Growing concerns about climate change and air pollution have led to stricter emission standards for vehicles.
Market Dynamics
Strong Demand for Electric Vehicles Driving Factors for DC-DC Converter
Manufacturers of automobiles and regulators are intensifying their efforts to promote initiatives related to electric vehicles (EVs). In order to achieve environmental, socioeconomic, and health goals, EV technologies including full battery- and plug-in hybrid-electric vehicles are appealing possibilities. This necessitates the use of a DC-DC converter for voltage optimization from battery sources. In some of the main auto markets in the world, EV fleets are growing rapidly.
EVs and batteries are growing less expensive. One of the main reasons for the rising demand for DC-DC converters is the growing charging infrastructure. The switch to electric vehicles (EVs) accelerated globally in 2022. In 2021, a record 6.9 million electric vehicles (EVs) were sold globally. 18.6 million electric vehicles will have been sold globally by the end of 2022, an increase of 58% from the end of 2020.
Additionally, China has increased its position in the deployment of EVs in 2022. In China, EV sales topped 3.5 million in 2022. In 2022, China sold more than 3.4 million electric LDVs and 0.1 million electric HDVs, accounting for 50% and 92% of the global totals, respectively. Sales of EVs in China reached 9.4 million by the end of 2022, accounting for 50% of the worldwide supply.
Developments in the Materials Used in DC-DC Converters
The market for DC-DC converters has been completely transformed by developments in semiconductor technology, which provide very effective and small solutions. These innovative converters provide a lot of benefits. This includes decreased consumption of energy, less heat loss, and cheaper costs all around. High-power DC-DC converters have been made possible by the use of innovative semiconductor materials such as gallium nitride and silicon carbide, which have enabled improved efficiency and reliability.
Furthermore, DC-DC converters have become smarter and more complicated as a consequence of the integration of power electronic converters with microcontrollers. In addition to performing complex functions including voltage regulation and current sharing, these intelligent converters have the capacity to monitor and control the output voltage and current.
Additionally, the next-generation efficient and intelligent DC-DC converters are now possible thanks to the confluence of semiconductor developments, compact design, and intelligent control. Manufacturers will benefit financially from the development of these cutting-edge vehicle DC-DC converters.
High Price of Automotive DC-DC Converters Materials
The production of automotive DC-DC converters involves complex electronic components and sophisticated manufacturing processes. These factors contribute to higher manufacturing costs, which are often passed on to the end consumers. The higher prices of DC-DC converters can deter some consumers or vehicle manufacturers from incorporating them into their vehicles. Vehicle manufacturers regularly weigh the advantages of employing DC-DC converters against the cost, and if the cost surpasses the advantages, they may choose alternative power management options.
Additionally, the production of automotive DC-DC converters may not yet have reached the economies of scale enjoyed by more established components in the automotive industry. Higher production volumes can help reduce manufacturing costs through economies of scale, allowing for more competitive pricing. As the adoption of electric and hybrid vehicles increases, the demand for DC-DC converters may rise, leading to potential cost reductions.
COVID-19 Impact Analysis
The market for automobile DC-DC converters has been significantly impacted by COVID-19 since practically all nations have chosen to shut down all manufacturing facilities save for those involved in producing necessities. In order to stop the spread of COVID-19, the government has adopted several severe measures, including halting the manufacturing and sale of non-essential commodities and obstructing international commerce. Only the necessary services that are permitted to operate and open are conducting business in this pandemic circumstance.
Manufacturers are taking several strategic actions to recover from COVID-19. To advance the technology used in DC-DC converters, the players are engaged in a variety of research and development projects. The businesses will do this to advertise cutting-edge technologies. Government programs encouraging the use of electric vehicles have also contributed to the market's expansion.
Segment Analysis
The global automotive DC-DC converters market is segmented based on product, propulsion, input voltage, output voltage, output power, vehicle, application and region.
Rising Demand for Battery Electric Vehicles (BEVs) for DC-DC Converters
The Inductive Power Transfer (IPT) segment holds more than 49.9% share of the global automotive DC-DC converters market. The demand for DC-DC converters has increased as battery-electric vehicles are being adopted at an increasing rate. These converters are essential for converting a 24V or 48V power source into a 12V power supply to guarantee the security of onboard electronic equipment.
Several manufacturers’ initiatives to participate in innovation to attain cleaner transportation utilizing renewable sources may also be credited with the rise of this market sector. Additionally, the market is expanding as a consequence of the DC-DC converter manufacturers' increased cooperation with the automobile industry. A commercial heavy-duty battery electric vehicle (BEV) will use a 24-to-12-volt DC-DC converter that Eaton will supply in 2021. This converter will be used to power accessories like antilock brakes and lights.
Furthermore, as the automotive industry continues to embrace electrification, the demand for specialized DC-DC converters for electric and hybrid vehicles is expected to increase. These converters need to meet the unique challenges posed by high-voltage systems, power management, and thermal considerations.
Geographical Analysis
Asia-Pacific Growing Sales of Electric Vehicles
The demand for luxurious electric vehicles has driven the automotive industry to increase significantly over time. Increasing consumer demand for high-performance, low-emission vehicles and government regulations limiting vehicle emissions are two factors impacting the sales of electric vehicles. According to the (International Energy Agency), consumer spending on electric car purchases reached US$ 120 billion in 2020, up 50% from 2019 and translating to a 41% rise in sales of electric vehicles.
The majority of electric vehicles and their components are produced domestically, and the government's major national objectives and plans will contribute to the market's anticipated rapid expansion. DC-DC converters also play a crucial part. They are also employed in a variety of applications, such as hybrid electric vehicles (HEVs), and therefore the market demand for these converters is anticipated to increase as a result of their increasing usage and major manufacturer launches.
For instance, in November 2021, EPC unveiled a 2 kW, 48 V/12 V DC-DC Demonstration Board for More Efficient, Smaller, Faster, Bidirectional Converters for Cars. When compared to silicon MOSFET options, the DC-DC converter is three times quicker, more than 35% smaller and lighter, delivers more than 1.5% better efficiency, and has lower total system costs.
Competitive Landscape
The major global players include Infineon Technologies AG, Texas Instruments Incorporated, ROHM Semiconductor, STMicroelectronics, Mitsubishi Electric Corporation, Toshiba Electronic Devices & Storage Corporation, Panasonic Corporation, Renesas Electronics Corporation, Delta Electronics, Inc. and Vicor Corporation.
Why Purchase the Report?
• To visualize the global automotive DC-DC converters market segmentation based on product, propulsion, input voltage, output voltage, output power, vehicle, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of automotive DC-DC converters market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The global automotive DC-DC converters market report would provide approximately 94 tables, 100 figures and 181 pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies
Table of Contents
181 Pages
- 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Definition and Overview
- 3. Executive Summary
- 3.1. Snippet by Product
- 3.2. Snippet by Propulsion
- 3.3. Snippet by Input Voltage
- 3.4. Snippet by Output Voltage
- 3.5. Snippet by Output power
- 3.6. Snippet by Vehicle
- 3.7. Snippet by Application
- 3.8. Snippet by Region
- 4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. Increasing R&D Investments to Include Dc-Dc Converters in Commercial Vehicles
- 4.1.1.2. Strong Demand For Electric Vehicles Driving Factors For DC-DC Converter
- 4.1.1.3. Increasing Consumption of Energy-Efficient Electric Vehicles
- 4.1.2. Restraints
- 4.1.2.1. Regulation Adhesion and Safety Demands For DC-DC Converters
- 4.1.2.2. High Price of Automotive DC-DC Converters Materials
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
- 5. Industry Analysis
- 5.1. Porter's Five Force Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
- 6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Scenario Before COVID
- 6.1.2. Scenario During COVID
- 6.1.3. Scenario Post COVID
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
- 7. By Product
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 7.1.2. Market Attractiveness Index, By Product
- 7.2. Isolated DC-DC Converters*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Non-Isolated DC-DC Converters
- 8. By Propulsion
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Propulsion
- 8.1.2. Market Attractiveness Index, By Propulsion
- 8.2. Battery Electric Vehicles (BEVs)
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Fuel Cell Electric Vehicles (FCEVs)
- 8.4. Plug-in Hybrid Vehicles (PHEVs)
- 9. By Input Voltage
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Input Voltage
- 9.1.2. Market Attractiveness Index, By Input Voltage
- 9.2. Below 40V*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. 40-70V
- 9.4. Above 70V
- 10. By Output Voltage
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Input Voltage
- 10.1.2. Market Attractiveness Index, By Input Voltage
- 10.2. 3.3V*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. 5V
- 10.4. 12V
- 10.5. 15V
- 10.6. 24V and Above
- 11. By Output Power
- 11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Output Power
- 11.1.2. Market Attractiveness Index, By Output Power
- 11.2. Below 1kW*
- 11.2.1. Introduction
- 11.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 11.3. 1-10kW
- 11.4. 10-20kW
- 11.5. Above 20kW
- 12. By Vehicle
- 12.1. Introduction
- 12.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 12.1.2. Market Attractiveness Index, By Vehicle
- 12.2. Commercial Vehicles*
- 12.2.1. Introduction
- 12.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 12.3. Passenger Vehicles
- 13. By Application
- 13.1. Introduction
- 13.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 13.1.2. Market Attractiveness Index, By Application
- 13.2. Power Electronics*
- 13.2.1. Introduction
- 13.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 13.3. Lighting Systems
- 13.4. Infotainment Systems
- 13.5. Electric Powertrain Systems
- 13.6. Safety Systems
- 13.7. Others
- 14. By Region
- 14.1. Introduction
- 14.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 14.1.2. Market Attractiveness Index, By Region
- 14.2. North America
- 14.2.1. Introduction
- 14.2.2. Key Region-Specific Dynamics
- 14.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 14.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Propulsion
- 14.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Input Voltage
- 14.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Output Voltage
- 14.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Output Power
- 14.2.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 14.2.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 14.2.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 14.2.10.1. U.S.
- 14.2.10.2. Canada
- 14.2.10.3. Mexico
- 14.3. Europe
- 14.3.1. Introduction
- 14.3.2. Key Region-Specific Dynamics
- 14.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 14.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Propulsion
- 14.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Input Voltage
- 14.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Output Voltage
- 14.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Output Power
- 14.3.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 14.3.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 14.3.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 14.3.10.1. Germany
- 14.3.10.2. UK
- 14.3.10.3. France
- 14.3.10.4. Italy
- 14.3.10.5. Russia
- 14.3.10.6. Rest of Europe
- 14.4. South America
- 14.4.1. Introduction
- 14.4.2. Key Region-Specific Dynamics
- 14.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 14.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Propulsion
- 14.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Input Voltage
- 14.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Output Voltage
- 14.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Output Power
- 14.4.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 14.4.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 14.4.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 14.4.10.1. Brazil
- 14.4.10.2. Argentina
- 14.4.10.3. Rest of South America
- 14.5. Asia-Pacific
- 14.5.1. Introduction
- 14.5.2. Key Region-Specific Dynamics
- 14.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 14.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Propulsion
- 14.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Input Voltage
- 14.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Output Voltage
- 14.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Output Power
- 14.5.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 14.5.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 14.5.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 14.5.10.1. China
- 14.5.10.2. India
- 14.5.10.3. Japan
- 14.5.10.4. Australia
- 14.5.10.5. Rest of Asia-Pacific
- 14.6. Middle East and Africa
- 14.6.1. Introduction
- 14.6.2. Key Region-Specific Dynamics
- 14.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
- 14.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Propulsion
- 14.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Input Voltage
- 14.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Output Voltage
- 14.6.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Output Power
- 14.6.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 14.6.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 15. Competitive Landscape
- 15.1. Competitive Scenario
- 15.2. Market Positioning/Share Analysis
- 15.3. Mergers and Acquisitions Analysis
- 16. Company Profiles
- 16.1. Infineon Technologies AG*
- 16.1.1. Company Overview
- 16.1.2. Technology Portfolio and Description
- 16.1.3. Financial Overview
- 16.1.4. Key Developments
- 16.2. Texas Instruments Incorporated
- 16.3. ROHM Semiconductor
- 16.4. STMicroelectronics
- 16.5. Mitsubishi Electric Corporation
- 16.6. Toshiba Electronic Devices & Storage Corporation
- 16.7. Panasonic Corporation
- 16.8. Renesas Electronics Corporation
- 16.9. Delta Electronics, Inc.
- 16.10. Vicor Corporation
- LIST NOT EXHAUSTIVE
- 17. Appendix
- 17.1. About Us and Services
- 17.2. Contact Us
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