Increasing Use of Electric Vehicles fuels the growth of the global Dc-Dc Converter market at a CAGR of 6.8 % during the forecast period 2023 to 2032

Market Research Future (MRFR) has published on the “Global DC-DC Converter Market”.

The DC-DC Converter market is estimated to register a CAGR of 6.8 % during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global DC-DC CONVERTER market— Texas Instrument, Delta Electronics Inc., Vicor Corporation, Mouser Electronics, Murata Manufacturing Co, Ltd., General Electric, Traco Electronics AG, Analog Devices, Inc., STMicroelectronics NV, cui Inc., Cincon Electronics., Ltd., TDK-Lambda Corporation, and Infineon Technologies AG among others.

Market Highlights

The global DC-DC CONVERTER market is accounted for to register a CAGR of 6.8% during the forecast period and is estimated to reach USD 12394.6 million by 2032.

The demand for Advanced Driver-Assistance Systems (DC-DC CONVERTER) is rapidly growing due to the increasing awareness The increasing use of electric vehicles (EVs) and hybrid vehicles is significantly driving the demand for DC-DC converters in the automotive industry. As EV technology continues to evolve, the power needs of these vehicles have risen, necessitating higher battery voltages ranging from 300 volts to 800 volts. Despite the increase in battery voltages, the complexity of current flows and cables has remained manageable. However, not all electrical loads in electric or hybrid vehicles operate on these high voltages. This is where DC-DC converters play a critical role. Also known as auxiliary power modules (APMs), DC-DC converters are indispensable components found in virtually all electric or hybrid vehicles equipped with high-voltage batteries.

The growing adoption of electric vehicles worldwide underscores the increasing demand for DC-DC converters. In 2022, electric car sales surged, with 14% of all new cars sold being electric—an increase from approximately 9% in 2021 and less than 5% in 2020. China led global electric car sales, accounting for around 60% of the market share. Europe followed as the second-largest market, with electric car sales surpassing 15% of total car sales. Similarly, in the United States, electric car sales increased by 55% in 2022, capturing an 8% sales share.

The first quarter of 2023 witnessed a significant surge in electric car sales, with a 25% increase compared to the same period last year. It is projected that by the end of 2023, global electric car sales will reach approximately 14 million units, representing a 35% yearon-year increase. This upward trend is expected to continue, with electric cars potentially accounting for 18% of total car sales by the end of the year.

Government policies and incentives aimed at promoting electric vehicle adoption, coupled with fluctuations in oil prices, are expected to further drive the demand for electric vehicles and, consequently, the need for DC-DC converters in the automotive industry. As the electric vehicle market continues to expand, the role of DC-DC converters in facilitating efficient power management and voltage regulation will become increasingly vital.

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Segment Analysis

The global DC-DC Converter market has been segmented based on Form Factor, Input Voltage, Output Voltage, Output Power, Output Number, Product Type, Isolation Working Voltage, Vertical.

Based on vertical, the global DC-DC Converter Market has been segmented into Telecommunication, eMobility, Industrial Robots, Service Robots, Aerospace and Defense, Medical, Railway, Server, Storage and Network, Consumer Electronics, Energy and Power and Marine. Energy and Power would be the majority shareholder in 2022, contributing around 17.0 % to the market revenue.

Based on form factor, the global DC-DC Converter Market has segmented into Chassis, Chassis Mount, DIN Rail, PCB Mount, Rack, SMD/SMT and Through Hole. The Through Hole based held the largest market share in 2022.

Based on input voltage, the global DC-DC Converter Market is segmented into <12v, 9-36v, 18-75v, 40-160v and >200v. A <12V category held the majority share in 2022.

Based on output voltage, the global DC-DC Converter Market has been segmented into <2v, 3.3v, 5v, 12v, 15v, 24v and >24v. A 5V output voltage held the largest market share in 2022 as these converts a higher voltage input to a stable 5V output voltage, commonly used in various electronic devices like smartphones, tablets, and IoT devices.

Based on output voltage, the global DC-DC Converter Market has been segmented into <2v, 3.3v, 5v, 12v, 15v, 24v and >24v. A 5V output voltage held the largest market share in 2022 as these converts a higher voltage input to a stable 5V output voltage, commonly used in various electronic devices like smartphones, tablets, and IoT devices.

Based on output power, the global DC-DC Converter market has been segmented into 0-100W, 101-250W, 251W-500W, 500-1000W and >1000W. The 0-100W held the majority share in 2022. These converters are commonly used in various electronic devices such as mobile phones, portable electronic devices, and automotive applications to provide the required voltage levels for proper operation. The market driver for the increasing demand for such DC-DC converters lies in the growing trend towards portable and energy-efficient electronic devices.

Regional Analysis

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East and Africa and South America. The North American DC-DC converter market is a rapidly growing market that is driven by the increasing demand for energy-efficient and high-performance electronic devices. DC-DC converters are electronic devices that convert a high-voltage DC input into a lowervoltage DC output for powering electronic devices. They are used in a wide range of applications, including data centers, industrial equipment, consumer electronics, and automotive systems. The market for DC-DC converters in North America is driven by several factors, including the increasing adoption of renewable energy sources, the growing demand for electric and hybrid vehicles, and the need for high-performance computing solutions.

The Europe DC-DC CONVERTER market is witnessing significant growth e increasing adoption of IoT devices and 5G networks is expected to drive demand for DC-DC converters in the telecommunications sector. However, the market is also facing challenges such as intense competition and the high cost of manufacturing in some European countries. Despite these challenges, the European DC-DC  converter market is poised for growth in the coming years as companies continue to invest in new technologies and expand their product offerings to meet the changing needs of customers.

The Asia-Pacific DC-DC converter market is expected to experience significant growth in the coming years, driven by a range of factors. One of the key drivers is the increasing demand for DC-DC converters in the automotive sector, where they are used in electric and hybrid vehicles. The region is also experiencing rapid growth in the telecommunications sector, which is expected to contribute to the development of the market as DC-DC converters are used in 5G networks and other communication devices.

Key Findings of the Study

• The global DC-DC Converter market is expected to reach USD 12394.6 million by 2032, at a CAGR of 6.8 % during the forecast period.


• The Asia Pacific region accounted for the fastest-growing global market.


• Based on Vertical, the Energy and Power segment was attributed to holding the largest market in 2022.


• Texas Instrument, Delta Electronics Inc., Vicor Corporation, Mouser Electronics, Murata Manufacturing Co, Ltd., General Electric, Traco Electronics AG, Analog Devices, Inc., STMicroelectronics NV, cui Inc., Cincon Electronics., Ltd., TDK-Lambda Corporation, and Infineon Technologies AG among others among others among others are some of the players in the market.