Global DC-DC Converter Market Size, Share, Opportunities, And Trends By Type (Linear, Switched), By Power (Low, High), By End-User (Automotive, Medical & Healthcare, Electrical & Electronics, Utilities, Others), And By Geography - Forecasts From 2025 To 2030
- Published : Dec 2024
- Report Code : KSI061615158
- Pages : 142
DC-DC Converter Market Size:
The global DC-DC converter market is projected to grow at a CAGR of 5.54% over the forecast period, increasing from US$5.855 billion in 2025 to reach US$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.
DC-DC Converter Market Trends:
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 total to date, which was 368,816 (million yen), in December 2022. during the same period.
What are the drivers of the DC-DC Converter Market?
- The increasing use of electronic devices and medical equipment will boost the growth of the global DC-DC converter market.
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, which 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.
- Rising demand for electric vehicles
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 would likely reach 10.1 million in 2024. The sales number in Europe was 2.7 million in 2022, 3.2 million in 2023, and 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.
What are the key geographical trends shaping the DC-DC Converter Market?
- By geography, the DC-DC converter market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific.
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 in the portable electronics industry through policies such as tax incentives and subsidies to increase the production of electronics, and parallelly this increases the need for DC-DC converters as it converts 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.
Key developments in the DC-DC Converter Market:
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 Instrument 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.
- In May 2024, Intelligent power management company Eaton announced its new offering for the higher power version of its low-voltage 48-volt DC/DC converter for commercial and off-highway vehicles. These converters are applied to harsh environments during vehicle operation.
- In April 2023, TDK Corporation announced the launch of the 300W-rated TDK-Lambda RGC series of ruggedized, non-isolated DC-DC converters. These converters can be used from 9.6 to 48V or 5 to 28V and have output currents of up to 12.5A. They are designed for applications in robotics, AGVs (Automated Guided Vehicles), communications, COTS, and industrial and portable battery-powered equipment.
- In August 2022, The "Promotion of Medical Devices Parks" plan was approved by the Department of Pharmaceuticals with a total financial investment of Rs. 400 crores (US$ 48.97 million) and a maximum support under the program of US$ 12.24 million for each Medical Device Park from FY21 to FY25.
DC-DC Converter Market Scope:
| Report Metric | Details |
| DC-DC Converter Market Size in 2025 | US$5.855 billion |
| DC-DC Converter Market Size in 2030 | US$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 |
|
| 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 |
Global DC-DC Converter Market is analyzed into the following segments:
- By Type
- Linear
- Switched
- By Power
- Low
- High
- By End-user
- Automotive
- Utilities
- Medical & Healthcare
- Electrical & Electronics
- Others
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Rest of South America
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Middle East and Africa
- Saudi Arabia
- UAE
- Rest of the Middle East and Africa
- Asia Pacific
- China
- India
- Japan
- South Korea
- Taiwan
- Thailand
- Indonesia
- Rest of Asia-Pacific
- North America
Frequently Asked Questions (FAQs)
DC-DC Converter Market was valued at US$5.855 billion in 2025.
The global DC-DC converter market is projected to reach a market size of US$7.665 billion by 2030.
The DC-DC converter market is projected to grow at a CAGR of 5.54% during the forecast period.
The surging demand for electric vehicles, data devices, and technological advancements is pushing the market for DC-DC converter growth.
The Asia Pacific region is expected to hold a significant share of the DC-DC converter market.
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base and Forecast Years Timeline
1.8. Key benefits for the stakeholders
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Research Process
2.3. Data Validation
3. EXECUTIVE SUMMARY
3.1. Key Findings
3.2. Analyst View
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Supplier
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL DC-DC CONVERTER MARKET BY TYPE
5.1. Introduction
5.2. Linear
5.3. Switched
6. GLOBAL DC-DC CONVERTER MARKET BY POWER
6.1. Introduction
6.2. Low
6.3. High
7. GLOBAL DC-DC CONVERTER MARKET BY END-USER
7.1. Introduction
7.2. Automotive
7.3. Utilities
7.4. Medical & Healthcare
7.5. Electrical & Electronics
7.6. Others
8. GLOBAL DC-DC CONVERTER MARKET BY GEOGRAPHY
8.1. Global Overview
8.2. North America
8.2.1. By Type
8.2.2. By Power
8.2.3. By End-user
8.2.4. By Country
8.2.4.1. United States
8.2.4.2. Canada
8.2.4.3. Mexico
8.3. South America
8.3.1. By Type
8.3.2. By Power
8.3.3. By End-user
8.3.4. By Country
8.3.4.1. Brazil
8.3.4.2. Argentina
8.3.4.3. Rest of South America
8.4. Europe
8.4.1. By Type
8.4.2. By Power
8.4.3. By End-user
8.4.4. By Country
8.4.4.1. United Kingdom
8.4.4.2. Germany
8.4.4.3. France
8.4.4.4. Italy
8.4.4.5. Spain
8.4.4.6. Rest of Europe
8.5. Middle East and Africa
8.5.1. By Type
8.5.2. By Power
8.5.3. By End-user
8.5.4. By Country
8.5.4.1. Saudi Arabia
8.5.4.2. United Arab Emirates
8.5.4.3. Rest of Middle East and Africa
8.6. Asia-Pacific
8.6.1. By Type
8.6.2. By Power
8.6.3. By End-user
8.6.4. By Country
8.6.4.1. China
8.6.4.2. India
8.6.4.3. Japan
8.6.4.4. South Korea
8.6.4.5. Taiwan
8.6.4.6. Thailand
8.6.4.7. Indonesia
8.6.4.8. Rest of Asia-Pacific
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Competitive Dashboard
10. COMPANY PROFILES
10.1. ABB Ltd.
10.2. General Electric
10.3. Infineon Technologies
10.4. Murata Manufacturing Co., Ltd.
10.5. RECOM Power GmbH
10.6. TDK Corporation
10.7. Texas Instrument Incorporated
10.8. Traco Electronic AG
10.9. Vicor Corporation
10.10. XP Power
10.11. Advanced Energy
10.12. PICO Electronics, Inc.
10.13. ROHM Group
ABB Ltd.
General Electric
Infineon Technologies
Murata Manufacturing Co., Ltd.
RECOM Power GmbH
TDK Corporation
Texas Instrument Incorporated
Vicor Corporation
XP Power
Advanced Energy
PICO Electronics, Inc.
ROHM Group
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