The new report by Expert Market Research titled, ‘Global DC-DC Converter Market Growth, Size, Share, Trend, Report and Forecast 2023-2028’, gives an in-depth analysis of the global DC-DC converter market, assessing the market based on its segments like input voltage, output voltage, major mounting styles, applications and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 9.73 billion
- Forecast CAGR (2021-2026): 1%
The thriving smartphone segment is driving the DC-DC converter market. The rising disposable and discretionary middle-class income, especially in highly populated developing countries like China and India, can be attributed to the increased demand for smartphones. Furthermore, the rising integration of technologies like near-field communication (NFC) in smartphones necessitates the employment of DC-DC converters to improve device efficiency by enhancing the voltage level.
This also gives users a hassle-free and simple experience, aiding the market growth for DC-DC converters. The prevalence of digitilisation and the shift to work from home amid the pandemic is surging the demand for smartphones and computers. Therefore DC-DC is becoming necessary in the modern-day world. Meanwhile, the rising application of the product for medical equipment and railways is likely to provide an impetus to the market. The rising investments from key players towards enhancing the DC-DC converter technology are expected to aid the market growth in the forecast period.
Industry Definition and Major Segments
A direct current (DC) to direct current (DC) converter is an electronic circuit or electromechanical device that converts a direct current (DC) source from one voltage level to another. These devicesare normally found in portable electronic devices like smartphones and laptops, powered mostly by batteries. These electrical devices frequently include multiple sub-circuits, each with its voltage level requirement that differs from that supplied by the battery or an external supply.
The DC-DC Converter market, on the basis of input voltage, can be segmented into:
- 75V and above
On the basis of output voltage, the market can be categorised into:
- 15V and above
On the basis of major mounting styles, the market can be categorised into:
- Surface Mount
- Through Hole
On the basis of application, the market can be categorised into:
- Servers PCs
- EV Battery
- Medical Equipment
The regional markets for DC-DC Converter include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Among these, Asia Pacific is projected to account for a significant share of the DC-DC market in the forecast period.
The prevalence of electric vehicles (EV) across the globe is likely to aid the market as the product utilises DC-DC converters for power supply. Furthermore, the rising environmental concerns because of high carbon emissions from traditional gas-powered vehicles are expected to enhance the product demand further.
The increasing efforts by the governments of various nations to promote electric vehicles (EV) through favourable initiatives are likely to be another key trend bolstering the market growth in the forecast period. The rapid technological advancements and increasing investments by key players to develop innovative solutions with the latest features are anticipated to contribute to the market growth significantly.
Key Market Players
The major players in the market are Texas Instruments Inc., Murata Manufacturing Co., Ltd., General Electric Company, RECOM Power Gmbh among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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