DC-DC converter Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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The market for DC-DC converters has displayed significant growth in recent years. The market which was previously valued from $11.6 billion in 2023 is expected to reach $12.99 billion in 2024, exhibiting a compound annual growth rate CAGR of 12.0% to $20.26 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The expansion in the historic period can be attributed to factors such as electronics miniaturization, power efficiency demands, mobile and consumer electronics, increased renewable energy systems, and growth of automotive electrification.

What is Driving the Growth of the DC-DC Converter Market?

One of the key growth drivers for the DC-DC converter market is the increasing power consumption. Power plays an integral role in digital systems, defining the quantity of energy utilized per unit of time. DC-DC converters are essentially used to swiftly regulate the supply voltage of the output stage to a specified value that is high enough to supply the load with stimulating current without saturation. As an indication of this rising trend, according to the U.S. Energy Information Administration, a US-based principal agency of the U.S. Federal Statistical System, total U.S. electricity consumption in 2021 was about 3.93 trillion kWh; with around 3.79 trillion kWh of power sold at retail the same year, accounting for 97% of all electricity usage. This increased power consumption has, therefore, been driving the demand for the DC-DC converter market.

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Who Are The Key Players in the DC-DC Converter Market?

Major companies operating in the DC-DC converter market encompass renowned organizations such as Texas Instruments Incorporated, Telefonaktiebolaget LM Ericsson, Murata Manufacturing Co. Ltd., General Electric Company, Delta Electronics Inc., Vicor Corporation, TDK-Lambda Corporation, Infineon Technologies AG, MEAN WELL Enterprises Co. Ltd., Cincon Electronics Co. Ltd., RECOM Power GmbH, Würth Elektronik eiSos GmbH & Co. KG, Traco Electronic AG, Mornsun Guangzhou Science & Technology Co. Ltd., Lambda Corporation, Flex Ltd., CET Technology, Karl Kruse GmbH & Co. KG, Epic Power, Tri-Mag LLC, Yuan Dean Scientific Co. Ltd., XP Power Ltd., Bel Fuse Inc., CUI Inc., and Ericsson Power Modules AB.

What are the Emerging Trends in the DC-DC Converter Market?

Technological advancements have come up as a prominent trend in the DC-DC converter market. Key companies are consistently creating innovative products to consolidate their competitive position in the market. A case in point is obtained from September 2022, with Rohm Semiconductor, a Japan-based electronic parts manufacturer unveiling BD9S402MUF-C. This newly introduced buck DC/DC converter IC with integrated MOSFET is designed for use in ADAS Advanced Driver Assistance Systems and sensor-rich entertainment systems in cars. The inclusion of patent-holder QuiCurTM high-speed load response technology facilitates steady operation at a market-leading 30mV and translates to a 25% decrease in output voltage fluctuation compared to products with equivalent functionality.

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How Is the DC-DC Converter Market Segmented?

The DC-DC converter market covered in this report is segmented as follows –

1 By Product Type: Isolated DC-DC Converters, Nonisolated DC-DC Converters
2 By Input Voltage: 3V-14V, 15V-35V, 36V-75V, >75V
3 By Output Power: 0.25W-250W, 250W-500W, 500W-1000W, >1000W
4 By Industry: Consumer Electronics, Healthcare, Automotive, IT and Telecommunication, Aerospace and Defense, Railways, Energy and Power, Other Industries

Regionally, Where Does the DC-DC Converter Market Stand?

In 2023, North America was the largest region in the DC-DC converter market. The report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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