Automotive DC-DC Converter Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Automotive DC-DC Converter Market is segmented by Vehicle Type (Passenger Vehicle and Commercial Vehicle) and Geography and Geography(North America, Europe, Asia-Pacific, and Rest of the World). The report offers market size and forecasts in value (USD billion) for all the above segments.

Market Snapshot

Automotive Dc Dc Converter Market Overview
Study Period: 2018-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >10 %
Automotive Dc Dc Converter Market Key Players

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Market Overview

The global automotive DC-DC converter market is valued at USD 9 Billion in 2020 and is expected to reach USD 17 Billion by 2026 registering a CAGR of over 10% during the forecast period 2021-2026.

The outbreak of COVID-19 caused several vehicles and component manufacturing facilities to shut down temporarily. This is hindering the growth of the automotive industry. However, with the gradual removal of lockdowns in several countries, the demand for vehicles has slightly increased which is expected to propel the market growth during the forecast period.

The growth of the market 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 electric vehicles, both battery-powered and hybrid, 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 safe and reliable operation of onboard electronic systems. The growth of the market 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.
  • The market is highly R&D-intensive and focused on the integration of DC-DC converters in larger vehicles. This 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 higher automotive production rate and annual sales in the region, particularly China.

Scope of the Report

A DC-DC converter comprises inductors, microcontroller units (MCUs), and magnetic core components that are encompassed in a block design for integration into vehicles. The DC-DC converter is connected to the ignition system of an automobile to effectively control the startup and shutdown of the engine to reduce emissions. Since the integrated infotainment system that is onboard an automobile requires a constant supply of electricity of around 12V, sourced from the powertrain, a DC-DC converter operates within a specified range of voltage to power a plethora of onboard electronic devices. 

The Automotive DC-DC Converter Market is segmented by Vehicle Type and Geography.

By Vehicle Type, the market is segmented as Passenger Cars and Commercial Vehicles.

and by Geography the market is segmented as North America, Europe, Asia-Pacific and Rest of the World). The report offers market size and forecasts in value (USD billion) 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
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
South America
Middle-East and Africa

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Key Market Trends

R&D Efforts to Integrate DC-DC Converters into Commercial Vehicles

The global adoption of stringent emission norms is driving the automotive OEMs to integrate advanced technologies in their vehicle offerings to enhance their fuel efficiency. This has resulted in the development of electric drivetrain for medium and heavy commercial vehicles (M&HCVs). The electric drivetrain mandates the integration of a DC-DC converter to ensure higher efficiency.

The increase in sales of commercial vehicles has driven component manufacturers to upgrade their product offerings. On this note, recently, Prodrive launched a 48V to 12V DC-DC converter that is compliant to the ISO/DIS 21780 standard for 48V automotive systems. The converter can be configured to suit automotive networks, including CAN and FlexRay, and is available in multiple power options, ranging from 400W to 2.2kW. Similarly, in October 2016, Ricoh Europe (Netherlands) BV introduced the R1273L synchronous buck DC/DC converter, that can function efficiently over a wide input voltage range up to 34V to deliver a maximum output of 14A.

Automotive Dc Dc Converter Market Key Trends

Increasing Sales of Electric Vehicles in Asia-Pacific

In 2020, the sales of electric vehicles in China reached 1.3 million units. Also, the Government of China had lifted taxes or has given a considerable amount of tax exemption on the purchase of EVs. These initiatives by the government have attracted a lot of customers to purchase EVs in this country. For instance,

  • In April 2020, the China government introduced a 10% service tax waiver for electric vehicles to boost the demand in the market.

Some non-automotive companies, like Alibaba, are also entering the rapidly growing EV market in the country. For instance, 

  • In January 2021, Alibaba Group introduced two electric models in the country, under the IM label (Intelligence in Motion), in partnership with SAIC Motor. Battery cells for these vehicles are supplied by CATL

Of the two models launched, one is an electric sedan, and the other is an electric SUV. The sedan is expected to be launched first, with the presale starting at the Auto China 2021 in April, and the SUV may hit the market in 2022. The company has informed that the vehicles may be offered with a 93 kWh battery, while a 115 kWh battery will be available as an option. Hence, the sedan may provide a range of up to 874 km in the NEDC cycle.

In December 2020, Hyundai Motor Group announced its plans to introduce an only-electric platform in 2021, using its own battery technology to cut production time and cost. In September 2020, Tesla Inc. announced that it was working on reducing the cost of its EV batteries and increasing production. It aims to reduce the price of its car to USD 25,000.

With most of the electric vehicles and components being manufactured locally and with the government's key national strategies and plans, it is expected that the country’s market will have a high growth rate during the forecast period.

Automotive Dc Dc Converter Market Growth Rate

Competitive Landscape

The market is highly fragmented and marked by the presence of several key players. The market is highly competitive with the active vendors competing for an enhanced market share based on product innovation. The vendors with sales directed prominently to mature markets are required to effectively innovate their product offerings to ensure low environmental impact and well-designed digital features. Besides, the business operation models and product concepts of these vendors must also align with the specific requirements of emerging economies to encourage sustainability in high-growth, low-cost markets.

In 2020, Denso Corporation accounted for the largest share of the total market and was closely followed by Continental AG and Toyota Industries Corporation. Other prominent vendors in the market include Hella GmbH & Co. KGaA and Robert Bosch GmbH.

Recent Developments

  • In March 2021, Bosch announced that silicon wafers are passing through the fully automated fabrication process for the first time at the new Bosch semiconductor fab in Dresden. From these, the company will make power semiconductors for use in applications such as DC-DC converters in electric vehicles (EVs) and hybrid vehicles (HVs). 
  • In March 2021, Infineon Technologies AG (Infineon) announced that it has launched the 650 V CoolSiC Hybrid Discrete for automotive. The device contains a 50 A TRENCHSTOP 5 fast-switching IGBT and a CoolSiC Schottky diode to enable a cost-efficient performance boost as well as high reliability. This combination builds a perfect cost-performance trade-off for hard-switching topologies and supports high system integrity in addition to bi-directional charging. This makes the device ideal for fast switching automotive applications such as on-board chargers (OBC), power factor correction (PFC), DC-DC and DC-AC converters.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Vehicle Type

      1. 5.1.1 Commercial Vehicle

      2. 5.1.2 Passenger Vehicle

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States

        2. 5.2.1.2 Canada

        3. 5.2.1.3 Rest of North America

      2. 5.2.2 Europe

        1. 5.2.2.1 Germany

        2. 5.2.2.2 United Kingdom

        3. 5.2.2.3 France

        4. 5.2.2.4 Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. 5.2.3.1 China

        2. 5.2.3.2 Japan

        3. 5.2.3.3 India

        4. 5.2.3.4 Rest of Asia-Pacific

      4. 5.2.4 Rest of the World

        1. 5.2.4.1 South America

        2. 5.2.4.2 Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Toyota Industries Corporation

      2. 6.2.2 TDK Corporation

      3. 6.2.3 Continental AG

      4. 6.2.4 Robert Bosch GmbH

      5. 6.2.5 Denso Corporation

      6. 6.2.6 Panasonic Corporation

      7. 6.2.7 Infineon Technologies AG

      8. 6.2.8 Hella GmbH & Co. KGaA

      9. 6.2.9 Aptiv

      10. 6.2.10 Alps Alpine Co. Ltd

      11. 6.2.11 Marelli Corporation

      12. 6.2.12 Valeo Group

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Automotive Dc Dc Converter Market market is studied from 2018 - 2026.

The Automotive Dc Dc Converter Market is growing at a CAGR of >10% over the next 5 years.

The Automotive Dc Dc Converter Market is valued at 9 Billion USD in 2018.

The Automotive Dc Dc Converter Market is valued at 17 Billion USD in 2026.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Denso Corporation, Toyota Industries Corporation, Robert Bosch GmbH, Continental AG, Hella GmbH & Co. KGaA are the major companies operating in Automotive Dc Dc Converter Market.

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