The global DC-DC converter market is projected to grow at a CAGR of 5.54% over the forecast period, increasing from USD 5.855 billion in 2025 to reach USD 7.665 billion by 2030.
A DC-DC converter is an electronic circuit that converts one DC voltage level to another. It is widely used to provide a stable and regulated output voltage, even when the input voltage changes. A DC-DC converter is efficient, compact, and lightweight, which makes them ideal for many applications like automotive, utilities, medical & healthcare, and electrical & electronics. The DC-DC converter has low and high-power options, which can be linear or switched.
The surging demand for electric vehicles, data devices, and technological advancements is pushing the market for DC-DC converter growth. Converters are increasingly used in portable electronic devices such as cell phones, laptops, and computers. The high demand for these portable devices will boost the DC-DC converter market growth. Several manufacturers are developing the DC-DC converter market for various industry applications such as aerospace & defense, automotive, and manufacturing.
This demand for the global DC-DC converter is in line with the production of consumer electronic equipment. According to the Ministry of Economy, Trade and Industry, Japan (METI), the production of consumer electronic equipment was 418,200 (million yen) in December 2023, a total to date, which was 368,816 (million yen), in December 2022. During the same period.
DC-DC converters play a critical role in portable electronic devices, such as smartphones, tablets, and laptops, that require efficient power management solutions by converting the battery voltage to the voltage level needed for the various components, such as the display, processor, and memory. Portable electronic devices are becoming smaller and lighter, which requires compact and lightweight power management solutions that DC-DC converters can provide. The global DC-DC converter market in the electronics industry is expected to be driven by the increasing demand for portable electronic devices and the trend toward miniaturization and lightweight design.
According to the Indian Brand Equity Foundation (IBEF), shipments of 5G smartphone devices in India are anticipated to rise from 28 million in CY 2021 to around 64 million in CY 2022, a 129% YoY increase. Per the Consumer Technology Association (CTA), in 2021, the total sales revenue for laptops and tablets in the United States alone was $47 billion, representing a 7% increase from the previous year. The global tablet market is expected to reach 160 million units by 2024, with most of the growth coming from emerging markets. DC-DC converters are widely used in medical equipment and devices like CT scanners, MRI machines, and X-ray machines to convert power from one voltage level to another, as these devices need a stable and reliable power supply to operate effectively. DC-DC converters are also used in portable medical devices such as glucose meters, blood pressure monitors, and respiratory devices to function reliably and efficiently by converting power from the battery to the required voltage.
According to the Indian Brand Equity Foundation (IBEF), in FY2021, India's exports of medical devices totaled $2.53 billion; by 2025, this is anticipated to reach $10 billion. According to the International Electrotechnical Commission (IEC), the global market for medical electrical equipment was valued at $35.5 billion in 2019 and is expected to grow up to 6.2% from 2020 to 2025 due to an increase in the prevalence of chronic diseases, rising healthcare expenditure, and technological advancements in medical devices. This demonstrates that the DC-DC converter holds significant growth potential.
Electric vehicle consumption has been increasing due to multiple factors related to environmental concerns, government policy initiatives, improved battery technology, growing charging infrastructure, and changes in the consumer perspective. The electric vehicle sales in China have increased from 6 million in 2022 to 8.1 million in 2023, and will likely reach 10.1 million in 2024. The sales number in Europe was 2.7 million in 2022, 3.2 million in 2023, and is expected to be 3.4 million in 2024. The growing demand for electric vehicles caused an upsurge in the demand for DC-DC converters.
The automobile converters must be light, small, reliable, effective, and produce low electromagnetic interference. A DC-DC converter is an electromechanical device or circuitry used to convert a DC voltage from one level to another based on circuit requirements in an electric vehicle. DC-DC converters are used for interfacing components in electrical powertrains.
The increasing adoption of DC-DC converters in various end-user industries such as automotive production, medical & healthcare, and consumer electronics in countries such as China, Japan, and India is expected to boost the demand for DC-DC converters in the Asia-Pacific region. The Chinese government has been providing support for domestic companies in 2020 the portable electronics industry through policies such as tax incentives and subsidies to increase the production of electronics, and in parallel, this increases the need for DC-DC converters as they convert the battery voltage to the required voltage level in electronics.
In 2020, the Japanese government provided funding to a project called "Development of a Wearable Vital Signs Monitor System," which aims to develop a portable device that can monitor a patient's vital signs, such as blood pressure and heart rate in real-time and this development will boost the demand for DC-DC converters in devices as they are required to convert power from the battery to the required voltage. The Ministry of Electronics and Information Technology of India has been granted Rs. 16,549 crores (US$ 2 billion) in the Union Budget 2023–24, which is an increase of about 40% from the previous year for the growth of the electronic industry in India and demand for DC-DC converters in electronic devices increases parallelly as it is required to convert the battery voltage to the desired voltage level. These factors all add to the DC-DC converter market growth in the Asia Pacific region.
The market leaders for the Global DC-DC converter market are ABB Ltd., General Electric, Infineon Technologies, Murata Manufacturing Co., Ltd., RECOM Power GmbH, TDK Corporation, Texas Instruments Incorporated, Traco Electronic AG, Vicor Corporation, XP Power, Advanced Energy, PICO Electronics, Inc., and ROHM Group. The key players in the market implement growth strategies such as product launches, mergers, acquisitions, etc., to gain a competitive advantage over their competitors. For Instance.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| DC-DC Converter Market Size in 2025 | USD 5.855 billion |
| DC-DC Converter Market Size in 2030 | USD 7.665 billion |
| Growth Rate | CAGR of 5.54% |
| Study Period | 2020 to 2030 |
| Historical Data | 2020 to 2023 |
| Base Year | 2024 |
| Forecast Period | 2025 – 2030 |
| Forecast Unit (Value) | USD Billion |
| Segmentation |
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| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in DC-DC Converter Market | |
| Customization Scope | Free report customization with purchase |