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Emerging Trends to Reshape the Automotive DC-DC Converters Market: Players In The Automotive Dc-Dc Converter Market Launch New Product Lines as a Key Influencer
Automotive DC-DC Converters Market
Automotive DC-DC Converters Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market for automotive dc-dc converters has seen significant expansion in the past few years. The market size is expected to rise from $0.87 billion in 2024 and hit $1.18 billion in 2025, marking a compound annual growth rate (CAGR) of 36.1%. The historic surge can be linked to the development in the automotive sector, strict emission rules, increased consumer demand for electronics, and economic expansion.
Automotive DC-DC Converters Market Size Forecast: What's the Projected Valuation by 2029?
The market for automotive dc-dc converters is set to witness a potentially explosive expansion in the imminent years, reaching a valuation of $3.09 billion by 2029, driven by a compound annual growth rate (CAGR) of 27.2%. Key factors behind this anticipated surge in the stipulated period include escalating automobile production, accelerated adoption of electric vehicles, global urbanization, rising disposable income per person, and supportive governmental policies. Additionally, the forecast period is likely to see significant trends including the adoption of wide-bandgap semiconductors, the use of digital control and communication, increased vehicle-to-grid (v2g) integration, the usage of eco-friendly materials, as well as heightened customization and integration.
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What Are the Drivers Transforming the Automotive DC-DC Converters Market?
The surge in popularity of electric vehicles has fueled the expansion of the automotive DC-DC converter market. Electric vehicle batteries generate several hundred volts, while various components within these vehicles require differing voltages. Most components, including air conditioning and in-built display systems, operate at lower voltages. Automotive DC-DC converters are designed to adjust this high voltage to a lower one, or vice versa. A noteworthy example is the Global EV Outlook 2022 report published in May 2022, which highlighted that sales of electric vehicles (EVs) in 2021 doubled from the previous year, hitting a record high of 6.6 million. Furthermore, the global sale of electric cars in 2021 increased to 6600000 units from 2980000 units. This growing tendency to adopt electric vehicles is raising the demand for automotive DC-DC converters, catalyzing an upward trend in the development of the automotive DC-DC converter market.
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What Are the Key Trends Driving Automotive DC-DC Converters Market Growth?
Prominent corporations in the automotive DC-DC converter market are emphasizing on the introduction of new products such as novel DC-DC converter lines to cater to the escalating demand. These converters are specifically engineered for usage in diesel-run commercial vehicles, fulfilling the power requirements of systems like lighting, heating, ventilation, air conditioning (HVAC), and other auxiliary functions. For example, in May 2022, Eaton Corporation, a power management firm based in the US, debuted a fresh line of DC-DC converters tailored for 48-volt commercial vehicle infrastructures. These converters are uniquely designed to meet Commercial vehicle electrical systems' needs, offering efficient power conversion and management solutions.
Which Segments in the Automotive DC-DC Converters Market Offer the Most Profit Potential?
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 Firms Dominate the Automotive DC-DC Converters Market by Market Share and Revenue in 2025?
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 Offer the Highest Growth Potential in the Automotive DC-DC Converters Market?
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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