Voltage Converters Market: Introduction
A voltage converter is a device which converts voltage from one to another, without changing its frequency. A voltage converter may change the voltage either to a higher level -- which is referred to as the step up -- or switch it to a lower level, which is also known as step down. A basic voltage converter essentially works by capturing the current and making it pass through a switching element. The switching element converts the DC signal to an AC signal, which is afterwards passed through a different filter, which again converts it back into DC signal of necessary voltage level.
Voltage converters are categorized on the basis of power supply. Based on this categorization, there are two different kinds of voltage converters -- DC voltage converters and AC voltage converters. Ac voltage converters are more commonly used and are also known as transformers. These voltage converters are commonly used for interfacing sensors with a microcontroller, in which a voltage of 3.3 V must be converted to a voltage of 5 V and vice versa.
There are numerous advantages of using voltage converters. For instance, using a voltage converter, the battery storage can be reduced by decreasing the input voltage or increased by raising the input voltage and any device can be driven by converting and controlling the available input voltage. These advantages can prevent any device from getting damaged.
Voltage Converters Market: Market Dynamics
Growing demand for consumer goods, such as cellular phones, television, laptops/monitors, etc. due to growing population and rising demand for power sources and charge pumps owing to industrialization can be considered as drivers for the market of Voltage Converters. Additionally, easy replacement of aging components and increasing technological developments in products are also likely to drive the market of Voltage Converters over the forecast period. Nevertheless, the pressure of pricing on manufacturing firms and industries coupled with inconsistent and fluctuating raw material prices is anticipated to restrain the growth of the market. Additionally, continuous developments in products, such as compact size, high speed, increasing use of portable chargers, etc. in various applications is also projected to provide conspicuous opportunities for the growth of the industry.
Voltage Converters Market: Segmentation
Voltage Converters Market: Regional Outlook
Asia Pacific will be a prosperous market for Voltage Converters during the forecast period. The Asia Pacific Voltage Converters market accounted for around 30% of the global revenue share in 2013 and is forecast to witness significant gains over the next decade owing to rapid rise in need for reliable and uninterrupted electronics gadgets, such as cellular phones, television, laptops/monitors, portable chargers, etc. owing to increasing population in the region. North America and Europe will rise at a comparatively sluggish rate of growth attributable to the mature markets in this region. Replacement of aging products with more technologically developed products in North America and Europe is anticipated to raise volume sales in these regions. North America is estimated to grow as a potential and emerging market owing to the increasing industrialization and modernization in the region. Latin America will witness high growth rate in the region and the Middle East and Africa region is expected to follow same growth trends.
Voltage Converters Market: Market Participants
Examples of some of the market participants identified across the value chain of the Voltage Converters market are Siemens, Grainger, PowerBright, KRIËGER Electric, CE Compass, Goldsource, Bestek, Ceptics, Key Power, Seven Star, LiteFuze, etc.