According to the report, the global automotive DC-DC converters market is likely to grow from USD 4.6 billion in 2025 to USD 26.9 billion in 2035 at a moderate CAGR of 9.7% during the time period. Being zones of electrification of the world, the types of vehicles, i.e., BEVs, PHEVs, and mild hybrids, may accelerate the growth rate of the global DC-DC converter market. Such vehicle types depend on DC-DC converters for their proper working. The DC-DC converters power interface between the high-voltage traction battery and low-voltage systems such as infotainment, lighting, ADAS, and air-conditioning.
Probably due to governments across the globe increasing restrictions on carbon emissions and improving the efficiency of fuel consumption, car manufacturers have now begun huge investments in electric powertrain-related technologies, which, in turn, have further pushed demand. They are also expected to be more compact and technically advanced DC-DC converters, with 48 V electrical architectures seeing wider implementations in vehicles, principally across European and Asian territories. Converter performances are still further improved on the physical and thermal fronts, aided by the latest advances in semiconductor materials such as GaN and SiC. Also, such huge R&D efforts on meeting next-gen power requirements for EVs can be noticed through strategic alliances of big players such as Texas Instruments, Delta Electronics, and Eaton in the latest developments in converters.
With the increase in demand for ADAS and autonomous driving mobile applications in the new modern car era, the demand for automotive DC-DC converters is pushed. Such systems require their power supply in a stable and reliable manner through different voltage domains, and hence, require proper conversion mechanisms. With safety and automation becoming more and more important, and, therefore, making the ECUs more complex and numerous in number, high-performance DC-DC converters need to ensure uninterrupted power supply.
The development of advanced DC-DC converters endeavors to put forth large R&D funds, in addition to costly materials such as silicon carbide and gallium nitride semiconductors. These high production costs are transferred to automotive manufacturers, which in turn, may very well slow down adoption, more so in price-sensitive markets. Also, these automotive electronics have to follow strict quality and safety standards, thus further increasing the cost and development complexity.
With the increase of commercial vehicles' electrification, such as in buses and trucks, and off-highway equipment, the DC-DC converter manufacturers essentially have a sizable opportunity. These vehicles require power management solutions that are rugged due to high power ratings and adverse operating conditions. Companies offering ruggedized DC-DC converters for commercial EVs will be able to tap into this expanding market segment, which is energizing emission norms worldwide and pushing the scheme for sustainable transportation-based solutions.
Tariff rates have a considerable impact on the automotive DC-DC converters global market by influencing the cost-stuctures and supply chain processes. For example, the United States has levied tariffs of 100% on EVs being imported from China, while imposing tariffs of 25% on lithium-ion batteries for EVs. These increase the cost of Chinese-made EVs and components such as DC-DC converters and, in turn, raise the price competition for these in the U. S. market. Exporters in China and other countries will get affected both in terms of higher production costs and dwindling profit margins, owing to such tariffs.
In some parts, one has witnessed the opposite scenario, where changes in tariffs have been made in keeping with the promotion of electric vehicles. India, in terms of the recent EV policy, has seen import duties slashed on electric vehicles from 110% to 15%. This reduction is done keeping in mind the import of global OEMs like Tesla and General Motors into India for setting up manufacturing bases so that demand for automotive components, including DC-DC converters, is created there.
Prominent players operating in the global Automotive DC-DC Converters market are Analog Devices, Inc., Bel Fuse Inc., BorgWarner Inc., Continental AG, Denso Corporation, HELLA GmbH & Co. KGaA, Hyundai Mobis, Infineon Technologies AG, LG Innotek, RECOM Power GmbH, Robert Bosch GmbH, Shenzhen Xinrui Technology Co., Ltd., STMicroelectronics, TDK Corporation, TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, Toyota Industries Corporation, Valeo SA, Vicor Corporation and amongst others.
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