The Business Research Company’s Automotive DC-DC Converters Global Market Report 2021: COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, March 17, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
The increase in the adoption of electric vehicles contributed to the growth of the automotive DC-DC converter market. The output of the batteries in an electric vehicle is several hundreds of volts but the components inside the vehicles require different voltages and most of the components run on lower voltage such as air-conditioning and in-built displays. The automotive DC-DC converter turns the high voltage into low voltage or low voltage to high. According to the Global EV Outlook report by IEA, in 2019, the number of electric vehicles across the world was around 7.1 million, and the sales of electric vehicles were around 2.1 million, which is a 6% increase from 2018. The global electric vehicle sales are expected to grow from 2.5 million in 2020 to 11.2 million in 2025 and would reach 31.1 million in 2030. The increase in the adoption of electric vehicles increases the demand for automotive DC-DC converters, driving the market.
The global automotive DC-DC converters market size is expected to grow from $241.42 million in 2020 to $326.88 million in 2021 at a compound annual growth rate (CAGR) of 35.40%. The DC-DC converter market growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1,215.38 million in 2025 at a CAGR of 38.86%.
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Major players covered in TBRC’s DC-DC converter market outlook report are Continental AG, BorgWarner Inc, Denso Corporation, Valeo, Toyota Industries Corporation, Bosch, Vicor Corporation, TDK-Lambda Corporation, Delta Electronics, HELLA GmbH & Co. KGaA, Hyundai Mobis, Panasonic Corporation, Infineon technologies, Mornsun, Alps Alpine Co, Mareli Corporation, LG Innotek, Texas Instruments Incorporated, ZF Friedrichshafen AG, NAC Group Inc., SynQor, Nanjing Pengtu Power Supply Co. Ltd., AEGIS Power Systems Inc., Murata Manufacturing Co. Ltd., Shindengen Electric Manufacturing Co. Ltd., and Delta-Q Corporation.
The global automotive DC-DC converters market is segmented by propulsion type into battery electric vehicle (BEV), fuel cell electric vehicle (FCEV), plug-in hybrid vehicle (PHEV), by product-type into isolated, non-isolated, by input voltage into < 40V, 40-70V, >70V, by output power into <1kW, 1-10kW, 10-20kW, >20kW, and by application into passenger vehicle, commercial vehicle.
Automotive DC-DC Converters Global Market Report 2021: COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides automotive DC-DC converters market overview, forecast automotive DC-DC converters market size and growth for the whole market, automotive DC-DC converters market segments, and geographies, automotive DC-DC converters market trends, automotive DC-DC converters market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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