Automotive DC-DC Converters Market

Automotive DC-DC Converters Market size reached USD 460 million in 2021 and is estimated to reach USD 4,113 million in 2029 and the market is estimated to grow at a very high CAGR of 31.5% from 2022-2029

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Market Dynamic

Key Drivers and Emerging Trends

The growing awareness towards GHG emissions coupled with the adoption of energy-efficient electric vehicles and the rising integration of advanced driver assistance systems (ADAS), in-car entertainment devices, seat heaters, and safety and connectivity features in vehicles is expected to drive the growth of the automotive DC-DC converters market size. In addition, the increasing numbers of control modules in the vehicle and the need to manage the power at the point of load are expected to propel the demand for DC-DC converters for voltage conversion in the automotive industry. Moreover, according to the International Energy Agency (IEA), the global electric car sales share rose 70% in 2020 and about 3 million new electric cars were registered in 2020. This is further expected to support the growth of the electric vehicles market, thereby contributing to the growing demand for automotive DC-DC converters over the forecast period.

Restraint in the Automotive DC-DC Converters Market

However, the disruption in the supply chain of automotive production due to the outbreak of COVID 19 is expected to hinder the market growth over the forecast period.

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Vehicle Type – Segment Analysis

Based on vehicles type, commercial vehicles are expected to hold a prominent market share over the forecast period. This is primarily due to the growing use of vehicles for fleet management, ridesharing, car rental services, and others. Moreover, the strict emission regulations across the world and the increasing installation of public EV charging infrastructure for commercial vehicles are further accelerating the market growth.

Propulsion Type – Segment Analysis

Based on the propulsion type, PHEV is expected to grow at a high CAGR over the forecast period owing to its fuel efficiency, lower emissions, and advantage of charging it by a power outlet. The presence of a large number of PHEVs including Toyota Prius Prime, Chevy Volt, Hyundai Sonata PHEV, Volvo XC90 AWD T8 PHEV, and others is expected to contribute to the market growth.

Output Power – Segment Analysis

Based on the output power, the 10-20kW is expected to hold a high share over the forecast period. This is primarily due to the increasing power output requirements of electric vehicles owing to more integration of electrical systems including the navigation system, music system, and security system into vehicles.

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Regional – Segment Analysis:

Asia Pacific is expected to grow at a notable CAGR during the forecast period owing to the presence of a massive market for automobile production and the rising demand for fuel-efficient vehicles. According to the International Energy Agency (IEA), China accounted for 47% of the global electric car sales in 2019. The presence of leading vendors including Hitachi, Ltd., Denso Corporation, and Toyota Industries Corporation is further expected to contribute to the growth of the market.

Top Market Players

Several leading Automotive DC-DC Converters companies operating in the market, include, Robert Bosch GmbH, Denso Corporation, Continental AG, BorgWarner Inc., Hitachi, Ltd., Eaton Corporation Plc, Renesas Electronics Corporation, Infineon Technologies AG, Toyota Industries Corporation, and Marelli Holdings Co., Ltd., among others.

Key Developments:

• • In 2020, BorgWarner Inc. has acquired Delphi Technologies. The combination of BorgWarner and Delphi Technologies is expected to strengthen BorgWarner’s power electronics products, automotive, and aftermarket businesses.

Segments covered in the Report:

The global Automotive DC-DC Converters market has been segmented on the basis of vehicle type, propulsion type, output power, and key regions. Based on the vehicle type, the market is segmented into commercial vehicle and passenger vehicle. Based on the propulsion type, the market is segmented into Battery Electric Vehicle (BEV), Fuel Cell Electric Vehicle (FCEV), and Plug-in Hybrid Vehicle (PHEV). Based on the output power, the market is segmented into <1kW, 1–10kW, 10–20kW, and >20kW

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Key questions answered in this research report:

• • At what pace is global Automotive DC-DC Converters market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Automotive DC-DC Converters Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Automotive DC-DC Converters Market?
  • Which vehicle type generated maximum revenues in 2021 and identify the most promising vehicle type during the forecast period?
  • What are the various propulsion type of global Automotive DC-DC Converters Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Automotive DC-DC Converters Market by Vehicle Type

• • Commercial Vehicle
  • Passenger Vehicle

Global Automotive DC-DC Converters Market by Propulsion Type

• • Battery Electric Vehicle (BEV)
  • Fuel Cell Electric Vehicle (FCEV)
  • Plug-in Hybrid Vehicle (PHEV)

Global Automotive DC-DC Converters Market by Output Power

• • <1kW
  • 1–10kW
  • 10–20kW
  • >20kW

Global Automotive DC-DC Converters Market by Region

• • North America Automotive DC-DC Converters Market (Option 1: As a part of the free 25% customization)
    • By Vehicle Type
    • By Propulsion Type
    • By Output Power
    • US Market All-Up
    • Canada Market All-Up
  • Europe Automotive DC-DC Converters Market (Option 2: As a part of the free 25% customization)
    • By Vehicle Type
    • By Propulsion Type
    • By Output Power
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Automotive DC-DC Converters Market (Option 3: As a part of the free 25% customization)
    • By Vehicle Type
    • By Propulsion Type
    • By Output Power
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Automotive DC-DC Converters Market (Option 4: As a part of the free 25% customization)
    • By Vehicle Type
    • By Propulsion Type
    • By Output Power
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Automotive DC-DC Converters Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Robert Bosch GmbH 
  • Denso Corporation
  • Continental AG
  • BorgWarner Inc.
  • Hitachi, Ltd.
  • Eaton Corporation Plc
  • Renesas Electronics Corporation
  • Infineon Technologies AG
  • Toyota Industries Corporation
  • Marelli Holdings Co., Ltd.