Automotive DC-DC Converters Global Market Report 2021: COVID-19 Growth and Change

Major players in the automotive DC-DC converter market 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 converter market 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 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%.

The automotive DC-DC converter market consists of sales of automotive DC-DC converter products and related services. The automotive DC-DC converter converts the high voltage into low voltage or low voltage into high voltage depending on its application. Only goods and services traded between entities or sold to end consumers are included.

The main types of automotive DC-DC converter are isolated and non-isolated. In an isolated DC-DC converter, the DC path between its input and output is eliminated. A non-isolated DC-DC converter does not eliminate the DC path and the input and output are connected by that path. The different propulsion types include battery electric vehicle (BEV), fuel cell electric vehicle (FCEV), and plug-in hybrid vehicle (PHEV). The input voltage ranges from < 40V, 40-70V, to >70V and the output voltage ranges from < 1kW, 1-10kW, 10-20kW, to >20kW. These are used in passenger vehicles and commercial vehicles.

Asia Pacific was the largest region in the automotive DC-DC converter market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The fluctuations in global automotive production are expected to limit the growth of the automotive DC-DC converter market. For instance, global vehicle production was expected to be 89 million in 2020 but due to the COVID crisis, the production came down to 71 million, which is 20% less. According to the ACEA, in 2019, the production of passenger cars in the European region reduced by 5.2% compared to 2018. The fluctuations in global automotive production result in oversupply or low supply conditions, which has a negative impact on the automotive DC-DC converter market.

In October 2020, BorgWarner, a US-based automotive components and parts supplier, acquired Delphi Technologies, a UK-based manufacturer of combustion systems, electrification products, software, and controls, for a deal amount of $3.3 billion. The acquisition is expected to strengthen BorgWarner’s electronics and power electronics products, capabilities, and scale. The company, after the acquisition, will offer integrated and standalone offerings for power electronics products including high voltage converters, inverters, onboard chargers, and battery management. Delphi Technologies was founded in the year 2014 and headquartered in London, United Kingdom.

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 automotive DC-DC converter market.

Synchronous buck DC-DC converters are increasingly being produced by the automotive DC-DC converter manufacturers. Synchronous buck DC-DC converters produce a regulated voltage lower than its input voltage and deliver high currents with minimizing power loss. For instance, ROHM announced a series of automotive synchronous buck DC-DC converters that have reliability and low power consumption in a compact form. These converters are used in applications such as radars, cameras, sensors that are used for assisted driving.

The countries covered in the automotive DC-DC converters market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.