Automotive DC-DC Converter Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

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 the Rest of the World). The report offers market size and forecast values (USD billion) for all the above segments.

Automotive DC-DC Converter Market Size

Automotive DC-DC Converter Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: > 10 %

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 was valued at USD 9.9 Billion in 2021 and is expected to reach USD 18.7 Billion by 2027, registering a CAGR of over 10% during the forecast period 2022-2027.

The COVID-19 pandemic caused several vehicles and component manufacturing facilities to shut down temporarily. This factor 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 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 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 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 billion) for all the above segments.

Vehicle Type
Commercial Vehicle
Passenger Vehicle
North America
United States
Rest of North America
United Kingdom
Rest of Europe
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 Trends

This section covers the major market trends shaping the Automotive DC-DC Converter Market according to our research experts:

Rising R&D Activities to Integrate DC-DC Converters into Commercial Vehicles

The growing adoption of stringent emission norms is driving automotive OEMs to integrate advanced technologies in their vehicle offerings to enhance fuel efficiency. This trend has resulted in the development of electric drivetrains 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, Prodrive recently launched a 48V to 12V DC-DC converter compliant with 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, 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.

With increasing freight and logistics activities, the demand for pickup trucks has seen significant demand from the logistics and municipal sectors. Recently, a significant demand for electric pickup trucks for personal applications has been observed, especially in European and North America. In context, automakers such as Ford, General Motors, and Volkswagen have sharpened their focus on electrified production vehicles. Several new companies/startups have announced plans to manufacture hybrid or fully electric pickup truck models in the coming years. For instance-

· Ford has announced that it is working on developing a fully electric pickup truck, which is expected to have a 300 miles range. Although Ford initially planned to develop a hybrid powertrain, the company has changed its plan from a hybrid to a fully electric truck. The F-150 electric is expected to be launched in 2022.

· Rivian, the American vehicle manufacturer and automotive technology company, has developed a fully electric pickup truck, the RT1. This vehicle is expected to have a range of 450 miles and has level-3 autonomous features. The RT1 will be delivered to the customer by September 2022.

· In April 2022, G-Pulse, a leading automotive ECU solution and mobility service provider, came under a constructive alliance with Silicon Mobility to design a high voltage multiphase DC-DC converter for upcoming new energy vehicles in the market. The high voltage DC-DC converter shall be compatible with FCEV, BEV, HEV, and PHEV.

Various agreements, partnerships, and ventures between the component manufacturers will benefit the electric vehicle high-voltage DC-DC converter market shortly. For instance,

· In May 2020, ZF Friedrichshafen AG partnered with VisIC, an Israel technology company. The main focus of the joint effort is to produce inverters and high voltage DC converter systems for electric vehicles.

Due to the increased adoption of DC-DC converters in commercial vehicles, the market is poise to register moderate growth during the forecast period.

Automotive DC-DC Converter Market : Revenue Share (%), by Vehicle Type, 2021

Asia Pacific Region to Play Prominent Role in the Market During the Forecast period

The Asia-Pacific region is expected to hold a dominant share in the market during the forecast period in the wake of rising vehicle production and the growing focus of major countries on the electrification of vehicles. Further, some notable 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. CATL supplies battery cells for these vehicles

The Asia-Pacific electric passenger car market is also one of the largest worldwide and has been growing rapidly over the last few years. It is expected to grow higher in the forecast period, which will also positively impact the demand for high voltage DC-DC Converter Market. Several key players in the market are partnering with other players to develop power electronics components. For instance,

· In November 2021, G-Pulse and Silicon Mobility announced a partnership to develop a high voltage multiphase interleaving bidirectional DC-DC converter platform for new energy vehicles (NEVs), such as fuel cell electric vehicles (FCEVs), battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs) (PHEV).

· In May 2021, TDK Corporation (TDK) announced it entered a partnership with Contemporary AmperexTechnology Co., Limited (CATL) to strengthen its businesses, such as electric components for electric vehicles and DC-DC converters. TDK will supply automotive electrical and power supply products to CATL for automotive power units.

· Hyundai Motors plans to invest USD 16 billion to increase its market share in the world by 2023. With the increase in the manufacturing and launching of new products, the demand for DC-DC converters is bound to increase in the upcoming years.

With most of the electric vehicles and components being manufactured locally and with the government's key national strategies and plans, the country's market is expected to have a high growth rate during the forecast period. In addition, DC-DC converters play a primary role. They are also used in different types of applications, such as hybrid electric vehicles (HEV, Hybrid Electric Vehicle), and hence growing adoption of these converters coupled with notable launches from manufacturers, expected to drive demand in the market. For instance,

· In November 2021, EPC Launched a 2 kW, 48 V/12 V DC-DC Demonstration Board for More Efficient, Smaller, Faster, Bidirectional Converters for Cars. The DC-DC converter is three times faster, greater than 35% smaller and lighter, and offers greater than 1.5% higher efficiency and lower overall system costs compared to silicon MOSFET solutions.

Therefore, such factors mentioned above and instances are likely to drive demand in the Asia-Pacific region during the forecast period.

Automotive DC-DC Converter Market : Growth Rate By Region, 2022-2027

Automotive DC-DC Converter Industry Overview

The market is moderately consolidated and actively highly competitive owing to several 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.

· In March 2021, Infineon Technologies AG (Infineon) announced that it had 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, enabling a cost-efficient performance boost and high reliability. It makes the device ideal for fast switching automotive applications such as onboard chargers (OBC), power factor correction (PFC), DC-DC, and DC-AC converters.

· In February 2021, Vitesco Technologies announced a new DC/DC converter, the heating discs of the electrically heated EMICAT catalyst can now also be supplied with electricity in high-voltage vehicles. The innovative e-catalyst enables the lowest emissions in real operation, which is becoming increasingly important considering forthcoming regulations such as Euro 7. The newly-developed DC/DC converter now generates the low voltage and power for the heating disc from the high voltage of the drive system.

Besides, these vendors' business operation models and product concepts must also align with the specific requirements of emerging economies to encourage sustainability in high-growth, low-cost markets.

Automotive DC-DC Converter Market Leaders

  1. Denso Corporation

  2. Toyota Industries Corporation

  3. Robert Bosch GmbH

  4. Continental AG

  5. Hella GmbH & Co. KGaA

*Disclaimer: Major Players sorted in no particular order

Automotive DC-DC Converter Market Concentration

Automotive DC-DC Converter Market News

· In April 2022, Toyota Industries Corporation developed a new compact and lightweight unit for battery electric vehicles (BEVs) that integrates an onboard charger and DC-DC converter. By integrating an onboard charger and DC-DC converter essential for BEV, the new unit is 23% smaller and 17% lighter in weight versus separately mounting the two devices. This improvement has also contributed to providing more interior space and lowering the center of gravity of the dedicated BEV platform adopted in the bZ series.

· In April 2022, DENSO Corporation announced it is providing key electrification components to Toyota and Subaru's all-new, all-electric bZ4X and SOLTERRA, scheduled to be released in mid-2022, respectively.

· In December 2021, Hella announced that its 48-volt DC/DC converters allow bi-directional energy transfer between 48-volt and 12-volt onboard networks and enable the recovery of energy recovered during braking made available to the 12-volt network again, thus enabling the energy to be used efficiently. Hella has received numerous other orders for the product from well-known German car manufacturers. This trend further strengthens the company's position among the top 3 suppliers in this sector.

· In March 2021, Bosch announced that silicon wafers were passing through the fully automated fabrication process for the first time at the new Bosch semiconductor fab in Dresden. The company will make power semiconductors for applications such as DC-DC converters in electric vehicles (EVs) and hybrid vehicles (HVs).

Automotive DC-DC Converter Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    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 (Market Size in Value USD Billion)

    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. United States

        2. Canada

        3. Rest of North America

      2. 5.2.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. South Korea

        5. Rest of Asia-Pacific

      4. 5.2.4 Rest of the World

        1. South America

        2. Middle-East and Africa


    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 PLC

      10. 6.2.10 Alps Alpine Co. Ltd

      11. 6.2.11 Marelli Corporation

      12. 6.2.12 Valeo Group

    3. *List Not Exhaustive

**Subject to Availability
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Automotive DC-DC Converter Market Research FAQs

The Automotive Dc Dc Converter Market is studied from 2018 - 2028.

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 10 Billion USD in 2018.

The Automotive Dc Dc Converter Market is valued at 18 Billion USD in 2028.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

Asia Pacific holds highest share in 2021.

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.

Automotive Dc Dc Converter Industry Report

Statistics for the 2023 Automotive Dc Dc Converter market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automotive Dc Dc Converter analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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