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Comprehensive 2025 Automotive DC-DC Converters Market Overview: Trends, Forecasts, and Growth Drivers
Automotive DC-DC Converters Market
What Is the Expected CAGR for the Automotive DC-DC Converters Market Through 2025?
There has been a significant expansion in the size of the automotive DC-DC converters market in the last couple of years. The market value, which was $0.87 billion in 2024, is predicted to increase to $1.19 billion in 2025, reflecting a compound annual growth rate (CAGR) of 37.8%. The remarkable growth observed during the historical period can be associated with factors such as the growth of the automotive industry, strict emission rules, escalating demand for electronics by consumers, and overall economic development.
What's the Projected Size of the Global Automotive DC-DC Converters Market by 2029?
The market size for automotive DC-DC converters is poised for a remarkable expansion in the forthcoming years. Its value is projected to reach $3.19 billion by the end of 2029, growing at a compound annual growth rate (CAGR) of 27.8%. Factors like increased vehicle manufacturing, uptake of electric vehicles, global urbanization, growing disposable income per capita, and government backing are expected to propel this growth in the forecasted period. Additionally, trends like wide-bandgap semiconductors, digital control and communication, vehicle-to-grid (v2g) integration, use of sustainable materials, as well as customization and integration are anticipated to shape the market during the forecast period.
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Top Growth Drivers in the Automotive DC-DC Converters Industry: What's Accelerating the Market?
The automotive DC-DC converter market has experienced growth due to the surge in the utilization of electric vehicles. Electric vehicle batteries produce hundreds of volts of power, but other components in the vehicle, such as the air-conditioning and in-built displays, require different, mostly lower voltage levels. The automotive DC-DC converter serves the purpose of converting high voltage to low or vice versa. In the Global EV Outlook 2022 report published in May 2022, it was shared that sales of electric vehicles had doubled from the previous year in 2021, achieving a new peak of 6.6 million. Moreover, the global sales of electric cars in 2021 rose from 2980000 units to 6600000 units. This surge in electric vehicle usage elevates the demand for automotive DC-DC converters, bolstering the growth of the automotive DC-DC converter market.
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What Trends Will Shape the Automotive DC-DC Converters Market Through 2029 and Beyond?
Key players in the automotive DC-DC converter industry are centering their efforts on unveiling new product lines such as DC-DC converters, in order to cater to the escalating demand. These converters are primarily intended for diesel-fueled commercial vehicles and aid in powering systems like lighting, heating, ventilation, air conditioning (HVAC), along with other auxiliary operations. To illustrate, Eaton Corporation, a power management enterprise based in the U.S., rolled out a fresh line of DC-DC converters in May 2022, catering to 48-volt commercial vehicle infrastructures. These converters are particularly engineered to satisfy the requirements of commercial vehicle electrical systems, offering effective power conversion and management solutions.
What Are the Main Segments in the Automotive DC-DC Converters Market?
The automotive dc-dc converters market covered in this report is segmented -
1) By Propulsion Type: Battery Electric Vehicle (BEV), Fuel Cell Electric Vehicle (FCEV), Plug-in Hybrid Vehicle (PHEV)
2) By Product-Type: Isolated, Non-Isolated
3) By Input Voltage: < 40V, 40-70V, >70V
4) By Output Power: 20kW
5) By Application: Passenger Vehicle, Commercial Vehicle
Subsegments:
1) By Battery Electric Vehicle (BEV): High-Voltage DC-DC Converters, Low-Voltage DC-DC Converters
2) By Fuel Cell Electric Vehicle (FCEV): DC-DC Converters for Fuel Cell Systems, Power Management Converters for FCEV
3) By Plug-in Hybrid Vehicle (PHEV): DC-DC Converters for Hybrid Systems, Auxiliary Power DC-DC Converters
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Which Top Companies are Driving Growth in the Automotive DC-DC Converters Market?
Major companies operating in the automotive dc-dc converters market include Continental AG, BorgWarner Inc, Denso Corporation, Valeo, Toyota Industries Corporation, Robert Bosch GmbH, Vicor Corporation, TDK-Lambda Corporation, Delta Electronics, HELLA GmbH & Co. KGaA, MOBIS INDIA LIMITED, Panasonic Corporation, Infineon technologies, Mornsun Guangzhou Science & Technology Co. Ltd., Alps Alpine Co, Mareli Corporation, LG Innotek Co. Ltd., Texas Instruments Incorporated, ZF Friedrichshafen AG, NAC Group Inc., SynQor Inc., Nanjing Pengtu Power Supply Co. Ltd., AEGIS Power Systems Inc., Murata Manufacturing Co. Ltd., Shindengen Electric Manufacturing Co. Ltd., Delta-Q Corporation, Robert Bosch GmbH, Skyworks Solutions Inc., Semiconductor Components Industries, Crane Aerospace and Electronics, VPT Power Inc., Microsemi Corporation, UTC Aerospace Systems, STMicroelectronics N.V., ON Semiconductor Corporation, Renesas Electronics Corporation, CUI Inc., Bel Fuse Inc., Eaton Corporation, Fujitsu Limited, Cosel Co. Ltd., Traco Electronic AG, XP Power
Which Regions Will Dominate the Automotive DC-DC Converters Market Through 2029?
Asia-Pacific was the largest region in the automotive DC-DC converter market in 2024. The regions covered in the automotive dc-dc converters market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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