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Automotive DC-DC Converters Market worth $1,432 million by 2025

 



(Publishing-NewsWire.com, November 18, 2020 ) The Automotive DC-DC Converters Market report provides an analysis of the market from 2020 to 2025. It discusses the industry and technology trends that are currently prevailing in the Automotive DC-DC Converters Market, along with the drivers, restraints, challenges, and opportunities. The automotive DC-DC converters market 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. These converters are designed to operate at high switching frequencies to reduce the size of output capacitors and inductors to save the onboard space of power equipment. The continuous research & development in topologies of DC-DC converters are leading to the miniaturization of DC-DC converters to cater to the demand for compact electronic components.



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Additionally, developments in the materials of DC-DC converters and the increasing use of SiC and GaN products in vehicle applications to increase efficiency are contributing to growth opportunities for DC-DC converters. The growing adoption of electric vehicles across various nations, requirement of improved safety, fuel efficiency, and advanced driver assistance systems; and the growing demand for safety and connectivity features in passenger vehicles are driving the demand for DC-DC converters across the automotive industry.



Based on vehicle type, the passenger vehicle segment of the automotive DC-DC converters market is accounted for the largest share during the forecast period. International regulatory pressure is prompting automotive manufacturers to develop vehicles that have a reduced carbon footprint and are environment-friendly. As such, several leading automakers such as Tesla Inc. (US), Volkswagen AG (Germany), Nissan Motor Co. Ltd. (Japan), Toyota Motor Corporation (Japan), and Honda Motor Company Ltd. (Japan) have gradually shifted their focus toward the manufacturing of passenger electric vehicles, which require DC-DC converters to convert high voltage DC from batteries to low voltage DC required by different systems installed in these vehicles.



Based on propulsion type, battery electric vehicle segment of the automotive DC-DC converters market is accounted for the largest share during the forecast period. The growth of this segment of the market can be attributed to the rise in the electrification of vehicles in the automotive industry. The reduced prices of batteries have significantly lowered the cost of battery electric vehicles, thereby leading to their increased adoption across the globe.



Based on input voltage, the 40-70V segment of the automotive DC-DC converters market is accounted for the largest share during the forecast period. These DC-DC converters are designed for rugged automotive applications that require high input voltages and wide DC-input ranges. For instance, Analog Devices, Inc.’s high input voltage buck converter family is more specialized for higher input voltage applications that range from 30V to 100V. This range simplifies design requirements in demanding automotive and industrial applications where large voltage transients can occur.



Based on output voltage, the 12V segment is estimated to account for the largest share of the automotive DC-DC converters market in 2020 and is projected to continue to lead during the forecast period. 12V output is required throughout the vehicle. Many electric vehicles have an auxiliary battery with a 12V rating that require DC-DC converters to recharge.



Based on output power, the 10-20kW segment of the automotive DC-DC converters market is expected to grow at the highest CAGR during the forecast period. The gradual adoption of electrification of commercial vehicles by various car manufacturers will lead to increasing demand for high output power, thus leading to the growth of the segment. In addition, the increasing demand for high efficiency, performance output, range, and reliability from electric vehicles will increase the demand for 10-20kW high output power.



Based on product type, the isolated converters segment of the automotive DC-DC converters market is accounted for the largest share during the forecast period. 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. This barrier can withstand any voltage, from a few hundred volts to several thousand volts, which improves the efficiency of the integrated circuit.



The Asia Pacific region is projected to lead the market during the forecast period. Rapid growth in the automotive industry and communications systems and the subsequent rise in demand for communication devices and automotive parts & equipment are driving the market for automotive DC-DC converters. Also the significant rise in the electrification of automotive vehicles by leading car manufacturers such as Toyota, Honda, Nissan, Kia Motors, and Hyundai Motor Company is contributing to the demand for DC-DC converters. The region is home to some of the fastest-developing economies of the world, such as China and India. The governments of these developing economies have recognized the growth potential of the electric vehicle market and, hence, have taken different initiatives to attract major OEMs to manufacture electric vehicles in their domestic markets.



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About MarketsandMarkets™



MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.



MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.



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Source: EmailWire.Com

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