Automotive Dc-Dc Converter Market Size (2024 - 2029)

The automotive DC-DC converter market is projected to experience significant growth, driven by the increasing demand for electronic systems and the adoption of battery-powered and hybrid electric vehicles. The market's expansion is supported by investments in research and development for advanced converters, particularly in prominent economies. Despite potential challenges such as fluctuations in global automotive production, the integration of DC-DC converters in larger vehicles and the focus on advanced driver-assistance systems are key trends propelling the market. The Asia-Pacific region is expected to lead the market due to its high automotive production and sales, particularly in China.

Market Size of Automotive Dc-Dc Converter Industry

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Automotive Dc-Dc Converter Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 12.77 Billion
Market Size (2029) USD 20.57 Billion
CAGR (2024 - 2029) 10.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Automotive Dc-Dc Converter Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Automotive DC-DC Converter Market Analysis

The Automotive Dc-Dc Converter Market size is estimated at USD 12.77 billion in 2024, and is expected to reach USD 20.57 billion by 2029, growing at a CAGR of 10% during the forecast period (2024-2029).

  • The COVID-19 pandemic caused several vehicles and component manufacturing facilities to shut down temporarily. This factor hindered the growth of the automotive industry. However, with the gradual removal of lockdowns in several countries, the demand for vehicles slightly increased, which was expected to propel the market growth during the forecast period.
  • The market's growth is fueled by the demand for electronic systems, such as infotainment and enhanced safety, through the integration of ADAS in modern automobiles. The increasing adoption of both battery-powered and hybrid electric vehicles has enhanced the demand for DC-DC converters, as a DC-DC converter is vital for converting a 24V or 48V power supply into a 12V power supply to ensure the safe and reliable operation of onboard electronic systems.
  • Prominent economies and vehicle manufacturing companies are investing in the research and development of 200-450V converters with features including fast circuit breaker control to comply with automotive safety. However, the market's growth may be limited by factors, such as fluctuations in global automotive production, resulting in an oversupply condition that could hamper the financial position of the market players.
  • Market players are trying to integrate the DC converter and inverter units as a single unit. Further, the market is highly R&D-intensive and focused on integrating DC-DC converters in larger vehicles. This trend has encouraged manufacturers of DC-DC converters to launch new product offerings to facilitate integration into commercial vehicles.
  • Asia-Pacific is anticipated to dominate the market, owing to the region's higher automotive production rate and annual sales, particularly in China. Moreover, The proliferation of advanced driver-assistance systems (ADAS) and in-cabin infotainment has turned vehicles into complex electronic systems on wheels that require multi-level, noise-free DC-DC converters to fuel market growth.

Automotive DC-DC Converter Industry Segmentation

A DC-DC converter comprises inductors, microcontroller units (MCUs), and magnetic core components encompassed in a block design for integration into vehicles. The DC-DC converter is connected to an automobile's ignition system to effectively control the startup and shutdown of the engine to reduce emissions.

The scope of the report covers segmentation based on vehicle type and geography. By vehicle type, the market is segmented as passenger cars and commercial vehicles. By geography, the market is segmented as North America, Europe, Asia-Pacific, and the rest of the World. 

For each segment, market sizing and forecast have been done based on value (USD) for all the above segments.

Vehicle Type
Commercial Vehicle
Passenger Vehicle
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Rest of the World
South America
Middle-East and Africa
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Automotive Dc-Dc Converter Market Size Summary

The automotive DC-DC converter market is poised for significant growth over the forecast period, driven by the increasing demand for electronic systems in modern vehicles, such as infotainment and advanced driver-assistance systems (ADAS). The shift towards battery-powered and hybrid electric vehicles has further fueled the need for DC-DC converters, which are essential for converting power supplies to ensure the reliable operation of onboard electronics. The market is characterized by substantial investments in research and development, particularly in the development of high-voltage converters to meet automotive safety standards. However, the market's expansion may face challenges due to fluctuations in global automotive production, which could lead to oversupply conditions.

The Asia-Pacific region is expected to dominate the market, supported by high automotive production rates and a growing focus on vehicle electrification. The region's market growth is further bolstered by the proliferation of electric vehicles and the entry of non-automotive companies into the EV market. Key players in the industry are actively engaging in partnerships and collaborations to enhance product offerings and integrate DC-DC converters into larger vehicles. The market is moderately consolidated, with vendors competing through product innovation to meet the demands of mature markets and emerging economies. As the demand for electric and hybrid vehicles continues to rise, the automotive DC-DC converter market is set to experience robust growth, with significant advancements in technology and product development.

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Automotive Dc-Dc Converter Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size in Value USD Billion)

    1. 2.1 Vehicle Type

      1. 2.1.1 Commercial Vehicle

      2. 2.1.2 Passenger Vehicle

    2. 2.2 Geography

      1. 2.2.1 North America

        1. 2.2.1.1 United States

        2. 2.2.1.2 Canada

        3. 2.2.1.3 Rest of North America

      2. 2.2.2 Europe

        1. 2.2.2.1 Germany

        2. 2.2.2.2 United Kingdom

        3. 2.2.2.3 France

        4. 2.2.2.4 Italy

        5. 2.2.2.5 Rest of Europe

      3. 2.2.3 Asia-Pacific

        1. 2.2.3.1 China

        2. 2.2.3.2 Japan

        3. 2.2.3.3 India

        4. 2.2.3.4 South Korea

        5. 2.2.3.5 Rest of Asia-Pacific

      4. 2.2.4 Rest of the World

        1. 2.2.4.1 South America

        2. 2.2.4.2 Middle-East and Africa

Automotive Dc-Dc Converter Market Size FAQs

The Automotive Dc-Dc Converter Market size is expected to reach USD 12.77 billion in 2024 and grow at a CAGR of 10% to reach USD 20.57 billion by 2029.

In 2024, the Automotive Dc-Dc Converter Market size is expected to reach USD 12.77 billion.

Automotive DC-DC Converter Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)