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DC-DC Converters Market by Product Type (Isolated DC-DC Converters and Non- isolated DC-DC Converters)
DC-DC Converters Market is anticipated to be worth around US$ 6,322.1 Million in 2022, with the market reaching over US$ 17,300.7 Million in 2033. It is also projected to be worth US$ 6,834.1 Million in 2023 and is estimated to grow at a CAGR of 9.7% from 2023 to 2033.
DC-DC converters are electronic devices that convert one voltage level of direct current (DC) power to another voltage level. They typically consist of a switching circuit that rapidly turns the input voltage on and off, and an energy storage element, such as an inductor or capacitor, to store and release energy during the switching cycles. By controlling the switching frequency and duty cycle, a DC-DC converter can efficiently convert a higher or lower input voltage to a desired output voltage level. The market for DC-DC converters accounts for 30.1% of the power electronics market.
DC-DC converters are commonly used in a variety of electronic devices, including power supplies for computers, mobile devices, and other electronic equipment, as well as in electric vehicles, solar power systems, and other applications that require power conversion from one voltage level to another. They are often preferred over traditional linear voltage regulators, which are less efficient and generate more heat, particularly when dealing with large voltage differentials.
Increasing demand for power-efficient devices together with increasing adoption of electric vehicles are the major factors influencing the growth of the DC-DC converters market. DC-DC converters are highly efficient and can help reduce power consumption in electronic devices. With the increasing focus on energy conservation and sustainability, the demand for power-efficient devices is expected to drive the market growth.
North America will account for 31.5% of the global market in 2022, according to geographical market projections. Consumption of these solutions in Europe is predicted to account for around 26.3% of the market in 2023.
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DC-DC Converters Market Size (2023) |
US$ 6,834.1 Million |
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Projected Market Value (2033) |
US$ 17,300.7 Million |
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Global Market Growth Rate (2023 to 2033) |
9.7% |
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Non-isolated segment Market Share (2022) |
56.3% |
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Indian Market Growth Rate (2023 to 2033) |
11.3% |
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IT and Telecommunication Segment Market Share (2022) |
21.3% |
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“Technical Complexity coupled with the Electromagnetic interference (EMI)”
DC-DC converters can be more complex to design and implement than linear voltage regulators, and require specialized knowledge of power electronics and control systems. This can be a barrier to adoption for some manufacturers and system designers.
The high-frequency switching used in them can create electromagnetic interference, which can interfere with other electronic devices and systems. This can be a challenge in certain applications, such as medical devices or aerospace systems, where EMI can be a safety or reliability concern.
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Get a Customized Version“Increasing use of Renewable Energy Sources Are Boosting the Growth of DC-DC Converters Market”
As the United States moves towards a cleaner, more sustainable energy mix, the adoption of renewable energy sources such as solar and wind is growing. DC-DC converters are essential for converting the DC power generated by these sources into the AC power that is used by most electrical devices.
Additionally, energy efficiency has become a greater priority for consumers, businesses, and governments in the United States, the demand for power-efficient devices that use DC-DC converters is increasing.
These aspects are aiding the acceptance of these technologies in the United States region, accounting to the region's considerable market share of 24.1% in 2022.
“Increasing Demand for Electric Vehicle Charging Ports Are Hastening the Adoption of DC-DC Converters”
India is taking significant steps towards electrifying its transportation sector, and as such, there is a growing need for efficient and reliable charging infrastructure. DC-DC converters play a key role in managing the power delivery and conversion between the battery and the motor in electric vehicles, and are therefore essential for electric vehicle charging stations.
For example, the Government of India has approved Phase-II of the FAME Programme (a government initiative for promoting electrical transport) with a budget of Rs. 10,000 crores (US$ 1,207.0 Mn) for a three-year period beginning in 2019. Around 86 percent of overall financial support has been given to generate demand by assisting 5 lakh e-3 Wheelers,7000 e-Buses, 55000 e-4 Wheeler Passenger Vehicles and 10 lakh e-2 Wheelers.
Additionally, India has set an ambitious target of achieving 175 gigawatt of renewable energy capacity by 2022, and this is driving demand for efficient power electronics devices, including DC-DC converters, which can efficiently convert DC power generated by renewable sources such as solar and wind into AC power that can be used by most electrical devices.
These factors enable India's market to grow at a CAGR of 11.3% during the predicted period.
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“Strong Industrial Base along with the Strong Distribution Network Are Facilitating the Adoption of DC-DC Converters Services”
Germany has a strong industrial base, with a large and well-developed manufacturing sector. This base provides German companies with the resources and expertise they need to produce high-quality DC-DC converters at a competitive cost.
Moreover, German companies have a strong global distribution network, which allows them to reach customers in key markets around the world. This network helps to increase the visibility and availability of German-made DC-DC converters and to further solidify their market share.
Such considerations are predicted to hasten the deployment of DC-DC converters services in Germany.
Why Non-isolated Segment Hold the Major Market Share for DC-DC Converters Market?
Non-isolated converters are a popular choice for many applications and hold a major market share in the market for several reasons like cost effectiveness, high efficiency and so on. These converters are typically less expensive than their isolated counterparts, which makes them an attractive option for many cost-sensitive applications.
Additionally, they have high efficiency levels, which means they waste less power and are able to convert more of the input power into output power. This high efficiency makes them a popular choice for battery-powered devices, as it helps to extend battery life.
These factors are influencing the major share of 56.3% of non-isolated segment in the market.
Why the Adoption of DC-DC Converters is maximum in IT & Telecommunication Sector?
The adoption of DC-DC converters (DOEs) is particularly high for IT & Telecommunication sector due to the following reasons like power efficiency, voltage regulation, and signal integrity, space-saving and so on. In the IT and telecommunication sector, there is a growing demand for energy-efficient solutions that can help reduce operating costs. DC-DC converters are highly efficient, with conversion efficiencies exceeding 90%, which makes them a popular choice in this industry.
In the IT and telecommunication sector, precise voltage regulation is crucial to ensure that electronic devices operate correctly. DC-DC converters are designed to provide accurate and stable voltage regulation, making them an ideal choice for many applications in this industry.
Thus, market share of DC-DC converters is maximum in IT & Telecommunication sector analysed to be 21.3% in 2022.
In addition to established players, the DC-DC converter market is witnessing the entry of new players, particularly in emerging markets. This trend is expected to intensify competition in the market further, as new entrants seek to gain a foothold in the industry and established players work to maintain their market positions.
Recent developments related to key players providing DC-DC converters market solutions have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.
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Attribute |
Details |
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Forecast Period |
2023 to 2033 |
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Historical Data Available for |
2018 to 2022 |
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Market Analysis |
US$ Million for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
By Product Type:
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In 2023, the market value of refractive optical element was US$ 6,834.2 Mn.
The global refractive optical element market is estimated to advance at a 9.7% CAGR through 2033.
The market for refractive optical element is forecasted to climb to US$ 17,300.7 Mn by 2033 end.
Demand for refractive optical element market in India is projected to rise at a CAGR of 11.3% for 2023-2033.
In 2022, the North America refractive optical element market held a dominant market share of 31.5%.
