IMARC Group's report titled "DC-DC Converter Market Report by Mounting Style (Surface Mount, Through Hole), Input Voltage (5-36V, 36-75V, 75V and Above), Output Voltage (3.3V, 5V, 12V, 15V and Above), Application (Smartphone, Servers PCs, EV Battery, Railway, and Others), and Region 2024-2032". offers a comprehensive analysis of the industry, which comprises insights on the global dc-dc converter market share. The global market size reached US$ 11.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 20.8 Billion by 2032, exhibiting a growth rate (CAGR) of 6.7% during 2024-2032.
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Factors Affecting the Growth of the DC-DC Converter Industry:
- Increasing Demand for Energy Efficiency:
The demand for energy-efficient electronic devices and systems is leading to a focus on improving power conversion efficiency. DC-DC converters play a crucial role in this regard by efficiently converting one voltage level to another, minimizing energy losses in the process. Energy-efficient DC-DC converters help electronic devices and systems consume less power during operation. This is particularly important in battery-powered devices like smartphones and laptops, where energy efficiency directly impacts battery life and overall performance.
- Demand for Renewable Energy:
Renewable energy sources like solar and wind power generate variable DC voltages that depend on weather conditions and other factors. DC-DC converters play a crucial role in efficiently converting and regulating these variable voltages to provide a stable and usable power supply. Solar panels are widely used to harness solar energy for both residential and commercial applications. DC-DC converters are essential in solar power systems to convert the DC output from solar panels into the required voltage levels for feeding into the grid or charging batteries.
- Rising Adoption of Internet of Things (IoT) Devices:
Many Internet of Things (IoT) devices, such as sensors, smart meters, and remote monitoring devices, are battery-powered. DC-DC converters are essential components in these devices, efficiently converting and regulating voltage levels to extend battery life and ensure reliable operation. IoT devices are often small and portable, requiring compact and lightweight power solutions. DC-DC converters are well-suited for this purpose, as they offer high power density and a wide range of input and output voltage options while maintaining a small form factor.
Leading Companies Operating in the Global DC-DC Converter Industry:
- ABB Ltd
- Bel Fuse Inc.
- Delta Electronics Inc.
- Fujitsu Limited
- General Electric Company
- Infineon Technologies AG
- Meggitt plc
- Murata Manufacturing Co. Ltd.
- RECOM Power GmbH
- STMicroelectronics
- TDK Corporation
- Vicor Corporation
DC-DC Converter Market Report Segmentation:
By Mounting Style:
- Surface Mount
- Through Hole
Through hole represents the largest segment as it is a preferred choice for many industrial applications.
By Input Voltage:
- 5-36V
- 36-75V
- 75V and Above
5-36V accounts for the majority of the market share due to its rising applications in the automotive and industrial sectors.
By Output Voltage:
- 3.3V
- 5V
- 12V
- 15V and Above
5V exhibits a clear dominance in the market owing to the rising demand for standard voltage level for a wide range of electronic devices.
By Application:
- Smartphone
- Servers PCs
- EV Battery
- Railway
- Others
Smartphone holds the biggest market share driven by the widespread adoption of smartphones worldwide.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific enjoys the leading position in the DC-DC converter market on account of the thriving electronics industry.
Global DC-DC Converter Market Trends:
The expansion of telecommunications networks and the increasing demand for data centers are fueling the need for DC-DC converters to ensure reliable power supply, voltage regulation, and energy efficiency. As the Internet of Things (IoT) ecosystem is growing and edge computing is becoming more prevalent, there is a rising demand for compact and efficient DC-DC converters to power a wide range of connected devices and sensors.
There is a growing emphasis on smart manufacturing, automation, and robotics, driving the need for DC-DC converters for powering control systems, motor drives, and other industrial applications.
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