Market Research Report
Automotive DC-DC Converter Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||925239|
|Published||Content info||70 Pages
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|Automotive DC-DC Converter Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: February 1, 2020||Content info: 70 Pages||
The global automotive DC-DC converter market is expected to grow at a CAGR of over 10% during the forecast period 2020-2025.
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.
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 & 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) B.V. 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.
Increasing Sales of Electric Vehicles in APAC
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 2019, 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.