Automotive DC-DC Converter Market to see Huge Growth by 2029
The global automotive DC-DC converter market is anticipated to grow at a significant CAGR of 11.1% during the forecast period. One of the primary factors that is fueling the market include the necessity of the automotive DC-DC converter in electric vehicles. The converter is solely used to convert dc power from an on-board 200-800V high voltage battery into lower dc voltages (48V or 12V) to power fans, headlights, wiper and window motors, interior lights, pumps, and many other systems within hybrid electric vehicles (HEV) and electric vehicles (EV). This has necessitated the use of the DC-DC converter in EVs which is reflected in the growing demand for the product in the market.
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COVID-19 pandemic had impacted most the industries including the global automotive industry significantly owning to the lockdown in most the nations to control the spread of the virus. It affected the overall demand for vehicles in the market. However, the electric vehicle market showed significant growth. As per the data of the International Energy Agency (IEA) 2020, electric car sales reached 2,977,058 vehicle units globally which is 40.8% more than the sales of electric cars in 2019.
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· Market Coverage
· Market number available for – 2023-2029
· Base year- 2022
· Forecast period- 2023-2029
· Segment Covered- By Source, By Product Type, By Applications
· Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
· Inc., and others
Global Automotive DC-DC Converter Market Report Segment
By Product Type
- Isolated DC-DC Converters
- Non-isolated DC-DC Converters
By Propulsion Type
- Hybrid Electric Vehicles (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Battery Electric Vehicle (BEV)
- Fuel Cell Electric Vehicle (FCEV)
By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
Global Automotive DC-DC Converter Market Report Segment by Region
North America
• US
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automotive DC-DC converter market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market
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