The global automotive DC-DC converter market is anticipated to grow at a considerable CAGR of 11.1% during the forecast period. The primary factor which is propelling the growth of the market includes growing demand for electric vehicles in the market which has also grown the demand for several other automotive systems including the automotive DC-DC converter market. In electric vehicles, DC-DC converter converts high voltage power supply to lower voltage power supply for safe electronic systems operations which is highly important since EVs supply very high-power voltage to run the vehicle.
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This has necessitated the use of DC-DC converters in the growing EV market. For instance, as per the data of the International Energy Agency (IEA) 2020, the sales of EV cars increased by more than 40% as compared to the sales of EV cars in 2019. The growth of EVs is also resulted owing to the government initiatives to electrify the automobile sector by offering subsidies to the consumers and installing the charging stations in the nations. For instance, in March 2022, Italy planned to subsidize new electric vehicles up to $6,570 of the purchase price as part of the plan to support the electrification of the vehicles. Moreover, in February 2022, as per the Indian budget document, Fast Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME) for fiscal 2023, the subsidies for EVs are projected at $378 million which is almost nine times higher than FY21.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global Automotive DC-DC Converter Market Report Segment
By Product Type
- Isolated DC-DC Converters
- Non-isolated DC-DC Converters
By Propulsion Type
- Hybrid Electric Vehicles (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Battery Electric Vehicle (BEV)
- Fuel Cell Electric Vehicle (FCEV)
By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
Global Automotive DC-DC Converter Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ 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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