Automotive DC-DC Converters Market worth $1,432 million by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 16, 2020 /PRNewswire/ -- According to the new market research report "Automotive DC-DC Converters Market by Vehicle Type (Commercial, Passenger), Propulsion Type (BEV, FCEV, PHEV), Product Type (Isolated, Non-Isolated), Input Voltage, Output Voltage, Output Power, Region - Global Forecast to 2025", published by MarketsandMarkets™, the market size is projected to grow from an estimated USD 339 million in 2020 to USD 1,432 million by 2025, at a CAGR of 33.4% during the forecast period. Power supply systems and units have undergone significant advancements in terms of the development of multiple power output and the incorporation of wireless technology in them in the past few years to make these systems and units highly reliable, efficient, and compact. This has also led to the development of technologically advanced DC-DC converters to cater to the power supply requirements of various automotive vehicles such as battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles, among others. The growing adoption of energy-efficient electric vehicles to curb GHG emissions from the automotive industry; and the increasing demand for safety and connectivity features in passenger vehicles are driving the demand for DC-DC converters across the automotive industry.
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"Based on vehicle type, a passenger vehicle is expected to account the largest share in the automotive DC-DC converters market in 2020"
By vehicle type, the automotive DC-DC converters market has been segmented into a commercial vehicle and passenger vehicle. The passenger vehicle segment is estimated to account for the largest share during the forecast period. The passenger vehicle consists of electric vehicles, namely SUV, MUV, sedan, and hatchback. The increasing demand for zero-emission vehicles is expected to provide growth opportunities for electrification in passenger vehicles and, in turn, drive the demand for DC-DC converters. The rise in the electrification and technological advancements in power electronics to cater to the demand for infotainment systems, lighting systems, audio systems, active chassis systems, regenerative braking, and start-stop systems is contributing to the growth of the DC-DC converters market for use in passenger vehicles of the automotive sector.
"Based on the propulsion type, the battery electric vehicle segment is projected to lead the automotive DC-DC converters market during the forecast period."
By propulsion type, the automotive DC-DC converters market is segmented into battery electric vehicle (BEV), fuel cell electric vehicle (FCEV), plug-in hybrid electric vehicle (PHEV). Battery electric vehicle (BEV) is projected to lead the automotive DC-DC converters market during the forecast period. This growth can be attributed to the rise in demand for electrification in the automobile sector. Moreover, increasing environmental awareness, government subsidies, and tax exemptions are expected to lead to a surge in demand for DC-DC converters in this segment. The demand for battery electric vehicles has grown rapidly due to the advantages they offer: high efficiency and low pollution. These vehicles are preferred globally as they are zero-emission.
"Based on input voltage, the 40-70V segment is projected to lead the automotive DC-DC converters market during the forecast period"
Based on input voltage, the automotive DC-DC converters market is segmented into <40V, 40-70V, and >70V. The 40-70V segment is projected to lead the automotive DC-DC converters market during the forecast period. These converters are insulated, short-circuit proof, and protected against overload, overvoltage, and high temperatures. The wide input range of 40 to 70V converters makes them suitable for various automotive electronics applications that must withstand both, load dump and cold crank conditions.
"Based on product type, the isolated segment of the automotive DC-DC converters market is projected to grow at the highest CAGR during the forecast period"
Based on product type, the automotive DC-DC converters market is segmented into isolated and non-isolated. The isolated segment is projected to grow at the highest CAGR during the forecast period. Due to the increasing demand for safe and efficient renewable energy systems, isolated DC-DC converters are widely used in this field as essential power conversion blocks. The isolated DC-DC converters market is majorly driven by key propulsion systems of electric and hybrid vehicles, as these require high-frequency transformers that provide a barrier to high-frequency voltage.
Browse in-depth TOC on "Automotive DC-DC Converters Market"
112 – Tables
59 – Figures
238 – Pages
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"Europe is projected to grow at the highest CAGR during the forecast period"
Europe is projected to grow at the highest CAGR during the forecast period. The UK, France, Germany, Norway, Sweden, the Netherlands, and Switzerland are the key countries in the automotive DC-DC converters market. The European market is estimated to exhibit growth in the coming years, resulting from an increase in demand for electric vehicles. It is home to major automobile manufacturers such as Volkswagen AG, BMW AG, and Daimler AG. To promote electric vehicles in this region, many strategies such as tax exemption and special discounts are being implemented by local governments. In addition to government support, OEMs and Tier 1 players are implementing different electric components like start-stop, electric pumps, ISG, and others. In Europe, almost all vehicles are equipped with EPS and start-stop systems. The rise in electrification of these components contributes to significant demand for electrical and electronic components, including DC-DC converters.
Major players operating in the automotive DC-DC converters market include BorgWarner Inc. (US), Denso Corporation (Japan), Valeo (France), Vicor Corporation (US), TDK-Lambda Corporation (Japan), Delta Electronics (Taiwan), Continental AG (Germany), Toyota Industries Corporation (Japan), Hyundai Mobis (South Korea), and Robert Bosch GmbH (Germany), among others. These key players offer various products and services in order to cater the increasing demand of electrification of vehicles in automotive industry.
Related Reports:
DC-DC Converter Market for Space by Application (Surveillance, Communication, Navigation, Scientific Research, Remote Sensing), Output Voltage (<3.3, 5, 12, 15 VDC), Output Power (<20, 20-40, 40-100, >100 W), and Geography - Global Forecast to 2020
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