DC-DC Converter Market - By Form Factor (SIP, DIP, DIN Rail, Box, Chassis Mount, Discrete, Brick), By Input Voltage, By Output Voltage, By Output Power, By Output Number, By Product Type, By Isolation Working Voltage, By End Use & Forecast, 2023 – 2032

DC-DC Converter Market Size

DC-DC Converter Market was valued at over USD 7 billion in 2022 and is anticipated to grow at a CAGR of over 4.5% between 2023 and 2032. The increasing demand for industrial robots in both manufacturing and service sectors is a significant factor driving the industry growth.
 

Industrial robots rely on DC-DC converters to efficiently manage and distribute power within their systems. These converters play a pivotal role in ensuring a stable, regulated power supply, vital for the precision and reliability demanded in robot operations. Moreover, as automation gains momentum, the demand for industrial robots will continue to surge, further fueling the need for DC-DC converters. Their role extends beyond just robots; they are essential in a wide range of electronic devices and systems used across industries, including healthcare, telecommunications, and renewable energy. For instance, in March 2022, TDK Corporation lunched FS1412 microPOL power module. At 5.8 x 4.9 x 1.6 mm, the FS1412 is part of a new series of μPOL DC-DC converters with increased performance, smallest available size, ease of use, and simplified integration for applications such as big data, machine learning, artificial intelligence (AI), 5G cells, IoT networking, telecommunication, and computing enterprise.
 

However, in the service sector, applications, such as healthcare and logistics, are increasingly relying on robots for tasks such as patient care and package handling. DC-DC converters enable the power management necessary for these autonomous systems.
 

The functionality of DC-DC converters in low-power mode poses a significant market challenge due to their impact on overall efficiency and performance. Inadequate performance in low-power situations can lead to energy wastage and reduced battery life, diminishing the appeal of these converters in applications requiring energy-efficient solutions. As energy conservation and extended battery life become increasingly vital across various industries, addressing this pitfall is crucial to maintaining competitiveness in the DC-DC converter industry.
 

COVID-19 Impact

The COVID-19 pandemic significantly disrupted the DC-DC converter market as demand fluctuated, affecting the revenue. Supply chain disruptions caused component shortages, leading to delayed production and increased costs. Work-from-home trends reduced the need for portable devices, affecting specific converter segments. Moreover, travel restrictions hindered market expansion, limiting global reach. The pandemic also highlighted the importance of resilient supply chains and accelerated the adoption of digital technologies. Remote work reduced office energy consumption, impacting data center applications. The DC-DC converter industry, consequently, faced challenges in demand, supply chain management, and adapting to a changing landscape.
 

DC-DC Converter Market Trends

Miniaturization and achieving high power density are key trends in the market. As electronic devices become smaller and more portable, there is a growing demand for compact & lightweight DC-DC converters. These smaller converters are essential for applications such as mobile devices, IoT gadgets, and wearables. They enable manufacturers to create more space-efficient and sleek designs while maintaining or improving power conversion efficiency. This trend aligns with the consumer preference for smaller, more portable, and aesthetically pleasing electronic products.
 

The increasing adoption of remote sensing and monitoring solutions by various industries, such as pharmaceuticals, petrochemicals, wastewater treatment & others, for real-time process control, monitoring, and data collection is driving the industry growth. In the petrochemicals sector, DC-DC converters are utilized for real-time remote monitoring and optimization of carbon & other harmful gas emissions to meet strict environmental regulations. Moreover, the integration of artificial intelligence in manufacturing processes is also enhancing the demand for DC-DC converters as they can constantly monitor chemical & other liquid composition, temperature, pressure, and other details. Such real-time and precise data reduces waste, increases throughput and improves resource allocation.
 

DC-DC Converter Market Analysis

Based on end use, the market is segmented into telecommunication, automotive, consumer electronics, energy & power, aerospace & defense, healthcare, and others. The telecommunication is expected to be the fastest growing segment during forecast period with CAGR of over 6.5% through 2032.
 

• The telecommunication segment growth is attributed to the surging demand for enhanced network infrastructure and the proliferation of mobile & data-driven services.
   
• Telecommunications rely on a robust and stable power supply to support the expanding network capacity. This factor necessitates efficient DC-DC converters to ensure consistent voltage levels, minimize power loss, and enhance the overall network performance. Moreover, the increasing deployment of 5G technology and the expansion of data centers to accommodate the growing data traffic further underscore the need for DC-DC converters to maintain reliable & uninterrupted power distribution, making them a vital component in the evolving telecommunication landscape.

Based on product type, the market is divided into isolated DC-DC converter and non-isolated DC-DC converter. The isolated DC-DC converter segment is dominating the market with over 50% market share.

• Isolation in DC-DC converters helps in reducing electromagnetic interference (EMI) and noise, especially in sensitive applications such as medical devices and communication systems. Isolated DC-DC converters excel at maintaining precise voltage regulation, ensuring a stable output voltage even in the presence of input voltage fluctuations.
   
• The benefits of isolation have led to increased adoption of isolated DC-DC converters in emerging applications, such as electric vehicles, renewable energy systems & IoT devices, where they ensure electrical protection and performance. As more industries focus on reliable and efficient power conversion, the global market demand for isolated DC-DC converters will continue to grow, leading to their increasing prevalence in various applications.

Asia Pacific dominated the global DC-DC converter market with the largest share of over 30% in 2022. The escalating demand for energy-efficient electronics, driven by both consumer and industrial applications, is fueling market growth. Increased investments in renewable energy projects and electric vehicles play a pivotal role, necessitating efficient power conversion. Manufacturers in the Asia Pacific region leverage cost-effective production capabilities, making it a hub for global supply chains. Additionally, technological advancements and government initiatives to bolster clean energy contribute significantly to market expansion. The ever-expanding telecommunications and IT sectors in the region will further propel the demand for DC-DC converters over the forecast period.
 

DC-DC Converter Market Share

Players operating in the DC-DC converter industry focus on implementing different growth strategies to strengthen their offerings and expand their market reach. The strategies involve new product development & launches, partnerships & collaborations, mergers & acquisitions, customer retentions, and others. These players are also heavily investing in research & development to introduce innovative and technologically advanced solutions. Some of the major players operating in the DC-DC converter industry are mentioned below:

• ABB
• Analog Devices Inc.
• Delta Electronics
• Flex Ltd.
• Infineon Technologies AG
• TDK Lambda Corporation
• Texas Instruments Incorporated

DC-DC Converter Industry News

• In December 2022, Advanced Energy Industries, Inc. launched two rugged DC/DC converters optimized for demanding railway and other mass transportation applications. The ERM100 and ERM150 series extended the company’s Artesyn product line with compact quarter-brick, fully encapsulated 100 W and 150 W options that have efficiency levels of up to 91.5%.
   
• In January 2021, Vicor Corporation launched its first radiation-fault-tolerant DC-DC converter power modules, housed in the new Vicor plated SM-ChiP package. Capable of powering low-voltage ASICs of up to 300 watts from a 100V nominal power source, the ChiPs were tested by Boeing to be resilient to 50krad of total ionizing dose and immune to single-event upsets.
   
• The DC-DC converter market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments:

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Market, By Form Factor

• SIP
• DIP
• DIN rail
• Box
• Chassis mount
• Discrete
• Brick

Market, By Input Voltage

• Up to 40V
• 40V to 100V
• 100V to 500V
• 500V to 1,000V

Market, By Output Voltage

• Up to 100V
• 100V to 500V
• 500V to 1,000V

Market, By Output Power

• 0.5 - 9W
• 10 - 29W
• 30 - 99W
• 100 - 250W
• 250 - 500W
• 500 - 1,000W
• >1,000W

Market, By Output Number

• Single
• Dual
• Triple
• Multiple

Market, By Product Type

• Isolated DC-DC converter
• Non-Isolated DC-DC Converter

Market, By Isolation Working Voltage

• 50 - 150V
• 150 - 250V
• 200 - 1,000V
• 1,000 - 2,500V
• >2,500V

Market, By End Use

• Telecommunication
• Automotive
• Consumer electronics
• Energy & power
• Aerospace & defense
• Healthcare
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Singapore
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA