Global DC-DC LLC Resonant Converters Market - 2023-2030

Overview

Global DC-DC LLC Resonant Converters Market reached US$ 10.0 billion in 2022 and is expected to reach US$ 22.1 billion by 2030, growing with a CAGR of 11.8% during the forecast period 2023-2030.

The rapid growth of the electric vehicle market is playing a major role in increasing the demand for DC-DC LLC resonant converters. According to IEA, with global EV sales surpassing 10 million in 2022, the momentum behind this shift is remarkable. Countries such as China, Europe and United States have seen major increases in EV sales, with China alone contributing to around 60% of global electric car sales. As the EV market continues to grow, the need for efficient power supply solutions like DC-DC LLC resonant converters has become more focused.

The surge in EV sales is expected to persist in the coming years, with predictions of around 14 million electric cars sold by the end of 2023. It remarkable growth has significant implications for energy markets and climate goals. As EVs gain traction, there is a corresponding demand for advanced power electronics technology like DC-DC LLC resonant converters. The converters, with their capability for high efficiency and soft switching, perfectly align with the energy-efficient nature of EVs, enabling better utilization of battery power and enhancing overall system performance.

Asia-Pacific is the largest market in the DC-DC LLC resonant converter market, driven by the rapid expansion of the energy sector across countries such as China, India and Southeast Asia. The International Energy Agency's report underscores that a significant portion, exceeding 70%, of the global electricity demand growth is anticipated to emanate from these very regions - China, India and Southeast Asia - within the upcoming three years, subsequently driving the DC-DC LLC resonant converters market in maintaining a stable and efficient energy landscape.

Dynamics

Rising EV Sales

The DC-DC LLC resonant converter demand is expected to be driven by growing EV sales globally as these converters, with their capability for high efficiency and soft switching, perfectly align with the energy-efficient nature of EVs, enabling better utilization of battery power and enhancing overall system performance. According to IEA, the surge in EV sales is expected to persist in the coming years, with predictions of around 14 million electric cars sold by the end of 2023. It remarkable growth has significant implications for energy markets and climate goals.

Furthermore, as EVs gain traction, there is a corresponding demand for advanced power electronics technology like DC-DC LLC resonant converters. The EV market's influence extends beyond passenger cars, encompassing two-wheelers, commercial vehicles and buses. The electrification of these segments underscores the broader need for energy-efficient power conversion technologies. Battery manufacturing, a crucial aspect of the EV ecosystem, has also experienced expansion, further driving the demand for DC-DC LLC resonant converters.

Solar Power Surge

The DC-DC LLC resonant converter demand is expected to be driven with the growth in solar power energy adoption as renewable energy. As the world increasingly transitions towards cleaner and more sustainable energy sources, solar power stands out as a major contributor to this shift. The growth of solar energy installations is expected to have a direct impact on the demand for DC-DC LLC resonant converters due to their critical role in efficiently converting and managing the power generated by solar PV systems.

According to the International Energy Agency, solar PV capacity is projected to nearly triple, reaching approximately 1,500 gigawatts over the forecast period. It substantial expansion of solar capacity translates to a massive increase in solar electricity generation. DC-DC LLC resonant converter are essential components within solar PV systems, serving as integral units for converting the DC voltage produced by solar panels into usable AC voltage or other desired output voltages for grid integration or local consumption.

Complex Design Challenges

The DC-DC LLC resonant converter demand is expected to be impacted by its complex design. The complex nature of designing DC-DC LLC resonant converters requires specialized expertise and resources. Engineers and designers need to possess a deep understanding of resonant converter theory, control algorithms and high-frequency circuit design. Companies seeking to develop and manufacture these converters must invest in skilled personnel and provide ongoing training to keep up with the latest advancements.

The intricate design requirements can act as barriers to entry for new entrants into the market. Companies with limited expertise and resources may find it challenging to develop reliable and efficient DC-DC LLC resonant converters. It can contribute to market concentration and limit innovation. Customizing DC-DC LLC resonant converters to meet these diverse needs can be complex and time-consuming, further influencing the market's growth.

Segment Analysis

The global DC-DC LLC resonant converters market is segmented based on type, application and region.

Significant Role of DC-DC LLC Resonant Converters in EV Battery Charging

The EV battery charging application holds the largest share in the DC-DC LLC resonant converter market due to its numerous advantages. The improvement in battery technology for EVs has led to the need for efficient and high-power-density battery chargers. EV battery chargers typically consist of an electromagnetic interference filter, an AC/DC converter and a DC/DC converter. The AC/DC converter, often using a boost topology for power factor correction, supplies an output DC link voltage of 400V. The DC/DC converter at the end stage transforms this voltage to charge the EV battery.

Furthermore, its ability to handle high power levels, while maintaining high efficiency, is crucial for fast-charging capabilities, reducing charging times and improving the overall convenience of EV owners. The LLC DC-DC primary side can utilize the CFD series CoolMOS MOSFET. On the secondary side, either 650 V Rapid Si diodes or 650 V Infineon CoolSiC diodes can be employed. It configuration is particularly relevant in the context of Electric Vehicle applications. Given the wide output DC voltage range, typically spanning from 200 V to 1000 VDC, relays are often employed to connect full-bridge rectifiers, which can be arranged either in series or in parallel.

Geographical Penetration

Asia-Pacific Drives DC-DC LLC Resonant Converter Market Growth in Energy Sector Expansion

Asia-Pacific is the largest market in the DC-DC LLC resonant converter market, driven by the rapid expansion of the energy sector in the region. According to IEA, China maintains its stronghold in the energy domain, once again emerging as a frontrunner by contributing to approximately 60% of globally electric car sales. With more than half of the total electric vehicles in operation globally located within its borders, China has even surpassed its own ambitious 2025 target for new energy vehicle sales.

Furthermore, this continuous momentum positions China to maintain its dominance in the electric car market, with projections indicating that it will account for 40% of total electric car sales by 2030. It surge in EV adoption creates a ripple effect that directly impacts the demand for DC-DC LLC resonant converters. The need for fast-charging solutions to reduce charging times and enhance the convenience of EV owners has fueled the demand for advanced resonant converter technologies in charging stations. As a result, the Asia-Pacific, being a key player in the EV market, witnesses an increased deployment of DC-DC LLC resonant converters in its charging infrastructure.

Competitive Landscape

The major global players in the market include: Power Integrations, Inc., Infineon Technologies AG, Texas Instruments Incorporated, STMicroelectronics International N.V., Semiconductor Components Industries, LLC, ROHM Co. Ltd., Delta Electronics, Inc., Vicor Corporation, TDK Corporation and Murata Manufacturing Co., Ltd.

COVID-19 Impact Analysis

The COVID-19 pandemic disrupted the DC-DC LLC resonant converter market by causing supply chain disruptions, factory shutdowns and reduced demand in various industries. Travel restrictions and lockdowns led to logistical challenges, affecting the production and delivery of components and impacting the market's growth and stability during the pandemic.

Amidst the pandemic's challenges, the electronics industry emerged as one of the winners, experiencing substantial growth in demand for gadgets and electronics. Notably, consumer electronics, which utilize components like DC-DC LLC resonant converters, played a significant role in driving this growth.

Russia-Ukraine War Impact

The Russia-Ukraine war impact on the DC-DC LLC resonant converter market is indirect but significant. Electronic warfare's role highlighted the growing importance of advanced electronics and components in modern warfare. As both sides utilized and countered electronic warfare tactics, the demand for robust and efficient electronic components, including those used in power conversion systems like DC-DC LLC resonant converters, likely experienced increased attention.

Electronic warfare, targeting communication, navigation and guidance systems to locate, blind and deceive enemies, played a crucial but concealed role in the conflict. While electronic warfare had been considered an advantage for Russia, its initial deployment in the war's early stages was limited, possibly due to concerns about revealing capabilities or technical difficulties. The war's emphasis on technology-driven strategies may have prompted a heightened focus on enhancing and innovating various electronic components, indirectly impacting the DC-DC LLC resonant converter market and other related sectors.

By Type

• Full-Bridge LLC Resonant Converter
• Half-Bridge LLC Resonant Converter
• Push-Pull LLC Resonant Converter
• Bridgeless LLC Resonant Converter
• Others

By Application

• Power Supplies
• Renewable Energy Systems
• Electric Vehicles
• Battery Charging
• DC-DC Converters
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico

• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe

• South America
  • Brazil
  • Argentina
  • Rest of South America

• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific

• Middle East and Africa

Key Developments

• On August 17, 2023, VPT, Inc. introduced its SVLFL5000 Series of space-qualified DC-DC converters. It series of converters is designed to operate in challenging radiation environments and is characterized by Total Ionizing Dose performance, including Enhanced Low Dose Rate Sensitivity, up to 60 krad. The converters are capable of operating over the full military temperature range of -55 °C to +125 °C without power derating.
• In September 2022, Cambridge-based start-up Pulsiv introduced a novel topology aiming to replace LLC (inductor-inductor-capacitor) power factor correction circuits in AC-DC power supplies and charging applications. The company's proprietary design offers an alternative to higher-cost LLC solutions and can be combined with commodity fly-back DC-DC converters.
• In January 2022, P-Duke Technology introduced its MPS and MPH series of medical DC/DC converters. The converters are designed for medical applications and adhere to Medical EN60601-1 and I.T.E. EN 62368-1 certifications, ensuring their suitability for medical equipment. The MPS and MPH series offer output power options of 2W and 3.5W, a 2:1 input range and regulated output voltages including 5, 9, 12, 15, 24, ±12 and ±15 VDC. The converters are available in both DIP16 and SMD16 package options.

Why Purchase the Report?

• To visualize the global DC-DC LLC resonant converters market segmentation based on type, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of cement market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global DC-DC LLC resonant converters market report would provide approximately 61 tables, 58 figures and 196 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies