CHICAGO – According to the new market research report “DC-DC converter Market by Vertical, Form Factor (SIP, DIP, DIN Rail, Box, Chassis Mount, Discreter, Brick), Input Voltage, Output Voltage, Output Power, Output Number, Product Type, Isolation Working Voltage and Region – Forecast to 2026”, published by MarketsandMarkets, the market size is projected to grow from USD 9.9 billion in 2021 to USD 17.6 billion by 2026, at a CAGR of 12.1% from 2021 to 2026. The market is driven by various factors, such as rise in demand industrial robots, growing aerospace industry and rising energy and power industrial sector.
The DC-DC converter market includes major players TDK Lambda Corporation (Japan), Traco Electronics AG (Switzerland), Murata Manufacturing Co. Ltd. (Japan), Infineon Technologies AG (Germany), and Texas Instruments Incorporated (US). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 has affected DC-DC converter production and services globally in 2020.
Demand in aerospace and defense industry will drive the demand for DC-DC converters
With increasing investment in the defence sector across various countries spread across different region along with the rising demand of commercial aircraft will drive the demand for DC-DC converter market. Drones are turning out to be an integral part of the defense industry with countries such as US, China, Israel, Turkey and others are investing heavily in research and development related to drones. Whereas in the commercial aviation industry Boeing in its commercial outlook of 2020 reported that the demand for narrow body aircraft is rising in the growing economic country such as India, China and others. Hence, the defense and aerospace industrial growth will drive the demand for DC-DC converters during the forecast period.
The isolated DC-DC converter is projected to witness a higher CAGR during the forecast period
Based on the product type, the isolated type DC-DC converter are projected to grow at the highest CAGR rate for the DC-DC converter market during the forecast period. An insulated DC-DC converter works along with a transformer in order to discrete the path between the input and output power supply. This is useful in terms of safety regulation and also it eliminated the output of the electronic device from the fluctuating input voltage.
The multiple power output segment is projected to witness the highest CAGR during the forecast period
Based on the output number, the multiple output DC-DC converters are projected to grow at the highest CAGR rate for the DC-DC converter market during the forecast period. With the increasing demand for power application product throughout the industry, the demand for DC-DC converters is also increasing. The electrical devices are required to work in a regulated environment with varied input voltage in order to work properly. Hence, DC-DC converter with multiple output do have varied input voltage levels and are efficient to produce accurate multiple outputs as well.
The DIN Rail form factor is projected to witness the highest CAGR during the forecast period
Based on the form factor, the DIN Rail DC-DC converter is projected to grow at the highest CAGR for the DC-DC converter market during the forecast period. DIN rail is a standard metal rail, which is most commonly and widely used for circuit breaker mounting and industrial control equipment. These series of DC-DC converters have the capability of having a wider input voltage and their flexible specification allows devices with incompatible voltages to be easily integrated into industrial systems.
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Power 1000W output power DC-DC converter projected to witness highest CAGR during the forecast period
The >1000W output power segment is projected to grow at the highest CAGR rate for the DC-DC converter market during the forecast period. These have wide input voltage which allows them to be compatible under the various industrial application. They are also suitable to work under higher working temperatures making them one of the best converters to provide accurate output voltage under varied input supplies.
The <2V output voltage DC-DC converter projected to witness highest CAGR during forecast period
Based on output voltage, the <2v output voltage segment is projected to grow at the highest CAGR rate for the DC-DC converter market during the forecast period. Power converters with such low voltage output are also known as step soen DC-DC convertersn and have a greater efficiency when compared to converters with other output voltages. With rising demand for consumer electronics which require low power the demand for DC-DC converters with output voltage <2v will rise during the projected period.
The Asia Pacific market is projected to contribute the largest share from 2021 to 2026
Asia Pacific is projected to be the largest regional share of the global DC-DC converter market during the forecast period. The key factor responsible for Asia Pacific, leading the global DC-DC converter market owing to the rapid growth of the technologically advanced power converter in the region. In Asia Pacific, the rise in manufacturing industries and growing aerospace and defense industry is encouraging manufacturers of DC-DC converters to introduce technologically advanced and efficient products cross various product type. The increasing demand for DC-DC converters and the presence of some of the leading players operating in the market, such as TDK Lambda Corporation, Murata Manufacturing Co. Ltd, FDK Corporation, are expected to drive the global DC-DC converter market in Asia Pacific. These players are focusing on R&D to increase their product lines and using technologically advanced systems, subsystems, and other components for manufacturing DC-DC converters.
