Automotive DC-DC Converter Market - Forecast(2024 - 2030)

Automotive DC-DC Converter Market Overview

Automotive DC-DC Converter Market size is estimated to reach $1.8 billion by 2026, growing at a CAGR of 32.2% during the forecast period 2021-2026. Automotive DC-to-DC converter is an electronic circuit or electric power converter device that converts a source of direct current from one voltage level to another. In addition, DC-DC converter with ultra-low quiescent current is used for powering sensors, MCUs, wireless devices, and other system components in automotive industry with the help of power optimizer. Moreover rising acceptance of energy-efficient electric vehicles to limit GHG emissions from the automotive industry, the necessity of better safety, fuel efficiency, and innovative driver assistance systems are propelling the demand for Automotive DC-DC converter industry. On the other hand, the regulations and safety standards are likely to obstruct the profit boundaries. In addition, the rising number of data centers across the globe and the growing power requirements of networking infrastructure will further boost the automotive DC-DC converter market share.

Report Coverage

The report: “Automotive DC-DC Converter Market Report– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Automotive DC-DC Converter Market

By Product Type: Isolated DC-DC Converters, Non-isolated DC-DC Converters

By Propulsion Type: Battery Electric Vehicles (BEVs), Fuel Cell Electric Vehicles (FCEVs), and Plug-in Hybrid Vehicles (PHEVs)

By Input Voltage: <40V, 40–70V, >70V

By Output Voltage: 3.3V, 5V, 12V, 15V, 24V and Above

By Output Power: <1kW, 1–10kW, 10–20kW, >20kW

By Vehicle Type: Commercial Vehicle, Passenger Vehicle

By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC (Japan, China, India, South Korea, Australia and Others), South America (Brazil, Argentina and others) and RoW (Middle east and Africa)

Key Takeaways

• In Automotive DC-DC Converter Market Research, the isolated segment of the automotive DC-DC converters market accounts for the largest share. It is also expected to grow at the highest CAGR of 34.3% during the forecast period, due to the increasing demand for safe and efficient renewable energy systems.
• The battery-electric vehicle segment of the automotive DC-DC converters market is growing at the highest CAGR of 34.5% during the forecast period. The increasing adoption of battery electric vehicles has enhanced the demand for DC-DC converters in this segment.
• The electric car market in Europe has witnessed rapid evolution with ongoing developments in the automotive sector and favorable government policies and support in terms of subsidies, grants, and tax rebates.
• Automotive DC-DC Converter companies are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers.

Automotive DC-DC Converter Market Value Share, by Geography, 2020 (%)

In Automotive DC-DC Converter Market, the isolated segment of the automotive DC-DC converters market accounts for the largest share. It is also expected to grow at the highest CAGR of 34.3% 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 also 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. In 2020, Calex launched Ruggedized 3kW Bi-directional DC-DC Converter for Automotive, E-mobility, and Battery Applications. Similarly, in 2019, Artesyn launched a 10 Watt Isolated DC-DC Converter for several applications, including automotive. Hence these factors are analysed to drive the Automotive DC-DC Converter industry outlook in the forecast period 2021-2026.

Automotive DC-DC Converter Market Segment Analysis - By End-User Industry

The battery-electric vehicle segment of the automotive DC-DC converters market is growing at the highest CAGR of 34.5% during the forecast period. The increasing adoption of battery electric vehicles has enhanced the demand for DC-DC converters. These converters are vital for converting a 24V or 48V power supply into a 12V power supply to ensure safe and reliable operation on-board electronic systems. In addition, the growth of this segment can be attributed to initiatives from several manufacturers to engage in innovation to achieve greener transportation using renewable sources. Further growing collaboration between DC-DC converter manufacturers to automotive companies is also driving the market growth. In 2021, Eaton has been awarded a contract to supply a 24-to-12-volt DC-DC converter for use in a commercial heavy-duty battery electric vehicle (BEV) that will power accessories, such as antilock brakes and lighting. Hence these factors are analyzed to drive the market growth in the forecast period 2021-2026.

Automotive DC-DC Converter Market Segment Analysis - By Geography

Europe dominated the Automotive DC-DC Converter market size in 2020 with a share of 33%. The electric car market in Europe has witnessed rapid evolution with ongoing developments in the automotive sector and favorable government policies and support in terms of subsidies, grants, and tax rebates. The government of European countries is investing heavily in R&D activities. In 2019 German government has committed to invest more than $3 billion to expand electric car market growth in the region. In 2021, Spain has committed to invest around $5.1 billion to kick-start the production of electric vehicles and batteries as part of a significant national spending program financed mainly through European Union recovery funds. Similarly, in 2021, Nissan has announced to spend $450 million on an all-electric vehicle. Further 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, in the forecast period 2021-2026.

Automotive DC-DC Converter Market Drivers

• The growing adoption of energy-efficient electric vehicles is analysed to drive the DC-DC Converter market in the forecast period:

The demand for electric vehicles is growing significantly, owing to the plans and initiatives of governments of different countries such as India, China, France, Germany, U.S, and others which reduce emissions from vehicles by promoting the use of eco-friendly vehicles, and help in developing infrastructure for these vehicles as well. For instance, the government of France has introduced an environmental bonus to promote low CO2 emission models; the German government gives a grant of $2,370 for BEVs & FCEVs and $1,780 for PHEVs and the Chinese government provides subsidies for the electrification of vehicles. As DC-DC converters in electric vehicles are used to increase or decrease voltage levels from attached batteries based on the power requirements of different systems used in vehicles. Hence this support is analyzed to drive the market growth in the forecast period 2021-2026.

• Shifts towards Autonomous Vehicles is driving the growth of the DC-DC Converter market:

The proliferation of advanced driver-assistance systems (ADAS) and in-cabin infotainment has turned vehicles into complex electronic systems on wheels that require multi-level, and noise-free DC-DC converters. As automotive electronics continue to make advancements, there is an increasing demand for powering electronic components. For instance, Sevcon, a leading company in providing electrification technologies, offers Gen5 High Voltage (HV) DC-DC converters that are suitable for all electric powered vehicles and are designed to be fitted on-board and to be connected permanently to the battery. Moreover, in November 2020, ROHM, a Japan-based electronic parts manufacturer, developed a BD9P series automotive primary DC-DC converters. The BD9P series is optimized for ADAS sensors, cameras, and radars, along with car infotainment, and instrument clusters. In April 2020, US-based Calex Manufacturing Co., Inc., a subsidiary of Murata Power Solutions, Inc. introduced a 3000W BCA bi-directional non-isolated DC-DC converter for automotive and battery applications. Hence these kinds of advancements is analyzed to drive the market growth in the forecast period 2021-2026.

Automotive DC-DC Converter Market Challenges

• Regulatory compliance and safety standards for DC-DC converters hamper the growth of the market.

A number of international and domestic regulations and standards have been formulated for DC-DC converters to prevent injury or damage to people and property due to potential dangers such as electric shock, energy hazards, fire, mechanical & heat hazards, radiation hazards, and chemical hazards. Manufacturers of DC-DC converters must adhere to these regulations and standards, including various insulation categories such as functional, primary, supplementary, double, and reinforced insulation. As these standards vary from country to country, adherence to them acts as a restraint for manufacturers. These standards are, on occasion, technically complex and hence, require experts to interpret them. With continuous evolution and amendments in these standards, it becomes challenging for DC-DC converters to adhere to them.

Automotive DC-DC Converter Market Landscape

Technology launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Automotive DC-DC Converter Market. In 2020, the market of Automotive DC-DC Converter industry outlook has been fragmented by several companies.  Automotive DC-DC Converter top 10 companies include:

• Delphi Plc
•  Valeo
• Toyota Industries
• LG Innotek
• Continental AG
• Denso Corporation
• HELLA GmbH & Co. KGaA
• Hyundai Mobis
• BorgWarner Inc.
• TDK-Lambda Corporation

Acquisitions/Technology Launches

• In October 2020, BorgWarner Inc. completed the acquisition of Delphi Technologies. This acquisition is expected to strengthen BorgWarner’s electronics and power electronics products, capabilities, and scale.
• In March 2019, TDK-Lambda Corporation introduced its smallest DC-DC converter µPOL power solutions with a dimension of 3.3*3.3*1.5mm. It is a compact and highest power density point of load solution for various applications.

Relevant Report Title:

Report Code: ESR 0703

Switching Power Supply Market – Forecast (2021 - 2026)

Report Code: ESR 0321

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