Global AC-DC Converter Market - Forecasts from 2023 to 2028

The global ac- dc converter market was valued at US$15.868 billion in 2021.AC-DC converter is a device that converts alternating current (AC) electrical power to direct current (DC) electrical power. This conversion is necessary for many electronic devices, as they require a steady and constant flow of DC power. AC-DC converters come in many forms, such as linear and switched with low and high-power options. AC-DC converters are typically used in automotive, medical & healthcare, electrical & electronics, and industrial applications. The global AC-DC converter market is primarily driven by the increasing demand for electronic devices and the growing use of automation in various industries.

The increasing use of electronic devices and increasing automotive production is augmenting the demand for AC- DC converters.The demand for electronic devices such as smartphones, laptops, and televisions has been growing steadily in recent years, particularly in emerging economies, due to the increasing affordability of such devices, and this demand has led to the growing use of AC-DC converters as electronic devices typically require stable and efficient DC power to operate. The trend toward miniaturization of electronic devices has also driven the demand for small and efficient AC-DC converters that can be integrated into compact devices. The increasing demand for electronic devices is expected to drive the growth of the global AC-DC converter market in the coming years. According to the Indian Brand Equity Foundation (IBEF), smartphone shipments from India crossed 168 million units in 2021, and in 2022, smartphone shipments from India were expected to reach 190 million. According to the Consumer Technology Association (CTA), the total sales of consumer electronics in the United States reached $442 billion in 2020, a 7.5% increase from the previous year, and predicted that global spending on consumer electronics would reach $1.1 trillion in 2021, a 3.9% increase from 2020. AC DC converters are used in automobiles to convert the high-voltage DC power from the vehicle's battery into low-voltage DC power needed to operate various electronic systems such as infotainment systems, lighting, air conditioning, power windows, and electric power steering. AC DC converters have become even more critical in the automotive sector as these vehicles require an AC DC converter to convert the high-voltage DC power from their batteries into AC power for the electric motor. Hence, the demand for AC DC converters in the automotive sector is also expected to rise significantly. According to the International Organization of Motor Vehicle Manufacturers (OICA), the production of cars increased by 7.9% from 2021 to 2022. This demonstrates that the AC-DC converter market has a great demand.

The Asia Pacific region accounted for a significant market share in 2021. 

The Asia Pacific is home to some of the world's largest consumer electronics manufacturers, and with the surge in demand for products such as smartphones, laptops and initiatives to promote e-vehicle development in emerging economies like India, China, and Japan, the need for AC-DC converters is also expected to increase. In 2021, the Chinese government released the "Energy-Saving and New Energy Vehicle Industry Development Plan" to support the development of the energy-saving and new energy vehicle industry, and the plan includes investments in the development of advanced power electronics technologies, including AC-DC converters, to support the growth of electric vehicles in the country. In 2020, the Indian government launched the "Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) " to help domestic manufacturing of electronic components and semiconductors, strengthening the country's electronics manufacturing ecosystem. In 2020, the Japanese government announced the "Digital New Deal" initiative, which aims to accelerate the digital transformation of various industries, including electronics. 

Market Developments:

• March 2022:Reliance declared that it would contribute US$ 220 million to a joint venture with Sanmina Corp, a publicly traded business in the US, to produce electronic goods in Asian nations.
• August 2021.:Renesas Electronics announced the RAA271050, a low-power AC/DC converter with an integrated USB Type-C PD controller that was designed to use in small consumer electronics devices such as smartphones, tablets, and wearable devices.
• June 2021:Infineon Technologies introduced a 1200 V CoolSiC MOSFET power module with an integrated gate driver and AC-DC converter and was designed to use in electric vehicle (EV) applications and can handle high currents and voltages.

Market Segmentation:

By Type

• Linear
• Switched

By Power

• Low
• High

By End User

• Automotive
• Medical & Healthcare
• Electrical & Electronics
• Industrial
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• UK
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• China
• Japan
• South Korea
• India
• Australia
• Other