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CHICAGO , Oct. 19, 2022 /PRNewswire/ -- DC-DC converter market size is projected to grow from USD 4.9 billion in 2022 to USD 6.4 billion by 2027, at a CAGR of 5.1% from 2022 to 2027 according to a new report by MarketsandMarkets™. The market is driven by various factors, such as rise in demand of electric vehicle, industrial robots, rising industrial automation, investments in alternative sources of energy, expanding telecommunications industry, and a growing healthcare sector. Hot Runner Temperature Controller
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Browse in-depth TOC on "DC-DC Converter Market" 220– Tables 58 – Figures 274 – Pages
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.
The sector with the biggest predicted value growth is isolated DC-DC converters. An isolated DC-DC converter employs a transformer to separate the input supply channel from the output supply. With rising consumer electronics demand, the market for isolated DC-DC converters will expand throughout the anticipated year. In terms of safety, it is advised that an electronic systems input and output be isolated because converters that operate at high and dangerous voltage should be separated from output that requires lower voltage.
Power 1000W output power DC-DC converter projected to witness highest CAGR during the forecast period.
During the forecast period, the >1000W output power category is expected to grow at the fastest CAGR in the DC-DC converter market. These feature a wide input voltage range, allowing them to be used in a variety of industrial applications. They are also suitable for functioning at greater temperatures, making them one of the finest converters for providing correct output voltage under varying input supply.
The <2V output voltage DC-DC converter projected to witness highest CAGR during forecast period
The DC-DC converter market is anticipated to expand at the greatest CAGR throughout the forecast period for the 2V output voltage category. When compared to converters with other output voltages, power converters with such a low voltage output are also known as step-soen DC-DC converters and have a higher efficiency. During the anticipated period, there will be an increase in demand for DC-DC converters with output voltages of 2v due to the increased popularity of consumer devices with low power requirements.
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The Asia Pacific market is projected to contribute the largest share from 2022 to 2027
The Asia Pacific DC-DC converter market is expected to be driven by rising industrial automation, investments in alternative sources of energy, expanding telecommunications industry, and a growing healthcare sector. The major countries considered under this region are China , Taiwan , India , Australia , Singapore , and Rest of Asia Pacific . China is expected to lead the Asia Pacific DC-DC converter market in 2022. The growth of the Chinese market is attributed to the presence of several major power electronics manufacturers such as TDK-Lambda Corporation, Murata Manufacturing Co. Ltd., Flex Ltd., and Cincon Electronics. These major market players have wide product portfolios that cover almost every industrial application related to power electronics. They also have a wide network of global supply chains, allowing them to engage with customers worldwide and understand their needs. These players regularly invest in R&D to develop new products in the DC-DC converter market.
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