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DC-DC converter Market Analysis, Industry Size, Share, Key Players And Forecast To 2033
DC-DC converter Market Analysis
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According to The Business Research Company's, The dc-dc converter market size has grown rapidly in recent years. It will grow from $11.6 billion in 2023 to $12.99 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to electronics miniaturization, power efficiency demands, mobile and consumer electronics, increased renewable energy systems, and growth of automotive electrification.
The dc-dc converter market size is expected to see rapid growth in the next few years. It will grow to $20.26 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to aerospace and defense needs, energy efficiency standards, data centers and cloud computing, medical devices and healthcare electronics, and e-mobility and clean transportation. Major trends in the forecast period include 5g network deployment, iot and edge computing, technological advancements, adoption of ai and ml, and product innovations.
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Market Drivers and Trends:
Increasing power consumption is expected to propel the growth of the DC-DC converter market going forward. The quantity of energy utilized per unit of time is known as power consumption. Power use is a significant factor in digital systems. DC-DC converters are typically used to quickly control the supply voltage of the output stage to a predetermined value. It simply needs to be maintained high enough to supply the load with a stimulating current without saturating. For instance, according to the U.S. Energy Information Administration, a US-based principal agency of the U.S. Federal Statistical System, total U.S. electricity consumption in 2021 was about 3.93 trillion kWh, with around 3.79 trillion kWh of power sold at retail in 2021, accounting for 97% of all electricity use. Therefore, increasing power consumption is driving the demand for the DC-DC converter market.
Technological advancements have emerged as the key trend gaining popularity in the DC-DC converter market. Major companies operating in the DC-DC converter market are developing innovative products to reinforce their position. For instance, in September 2022, Rohm Semiconductor, a Japan-based electronic parts manufacturer introduced the BD9S402MUF-C, a new buck DC/DC converter IC with integrated MOSFET (switching regulator) for use in ADAS (Advanced Driver Assistance Systems) and entertainment systems in cars, which incorporate more sophisticated onboard sensors and cameras. The new BD9S402MUF-C is incorporated with patented QuiCurTM high-speed load response technology, enabling steady operation at a market-leading 30mV (measured conditions: 5V input voltage, 1.2V output voltage, 44F output capacitance, load current variation 0 to 2A/2s) and translates to a 25% decrease in output voltage fluctuation compared to industry-leading standard products with equivalent functionality, which makes it perfect for use in the newest ADAS with challenging power supply requirements that demand stable operation within 5% even with low voltage output.
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Major Key Players of the Market:
Texas Instruments Incorporated, Telefonaktiebolaget LM Ericsson, Murata Manufacturing Co. Ltd., General Electric Company, Delta Electronics Inc., Vicor Corporation, TDK-Lambda Corporation, Infineon Technologies AG, MEAN WELL Enterprises Co. Ltd., Cincon Electronics Co. Ltd., RECOM Power GmbH, Würth Elektronik eiSos GmbH & Co. KG, Traco Electronic AG, Mornsun Guangzhou Science & Technology Co. Ltd., Lambda Corporation, Flex Ltd., CET Technology, Karl Kruse GmbH & Co. KG, Epic Power, Tri-Mag LLC, Yuan Dean Scientific Co. Ltd., XP Power Ltd., Bel Fuse Inc., CUI Inc., Ericsson Power Modules AB
DC-DC converter Market 2024 Key Insights:
• The dc-dc converter market size is expected to see rapid growth in the next few years. It will grow to $20.26 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%.
• Rising Power Consumption Fuels Demand In The Dc-Dc Converter Market
• Technological Advancements Drive Innovation In The Dc-Dc Converter Market
• North America was the largest region in the DC-DC converter market in 2023
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