The Asia Pacific Automotive DC-DC Converter Market would witness market growth of 28.4% CAGR during the forecast period (2023-2030).In the year 2021, the Asia Pacific market's volume surged to 692.5 thousand units, showcasing a growth of 10.6% (2019-2022).
In order to promote the adoption of EVs, Thailand and Indonesia are also improving their policy assistance programs. Original equipment manufacturers (OEMs) in the automotive industry constantly work to improve their vehicles' fuel economy and energy efficiency. DC-DC converters are essential for power distribution optimization and minimizing power losses by effectively converting and regulating electrical energy for various vehicle systems.
The voltage levels between the high-voltage battery system and different low-voltage subsystems, such as lighting, infotainment systems, and other electronic components, are carefully controlled using DC-DC converters. It is readily apparent from the rising demand for DC-DC converters that these devices are essential for guaranteeing efficient power distribution in electric and hybrid vehicles. Additionally, lithium-ion batteries have taken over as the favored choice due to the developments in battery technology. As a result, there is a growing need for DC-DC converters that can handle lithium-ion batteries.
Modern DC-DC converters offer high-efficiency and compact solutions because of advancements in semiconductor technologies. These cutting-edge converters have a lot of benefits. It implies decreased energy usage, less heat loss, and cheaper expenses. High-power DC-DC converters have been made possible by using cutting-edge semiconductor materials like silicon carbide and gallium nitride, which have improved efficiency and reliability. More intelligent and complex DC-DC converters have emerged due to integrating power electronic converters with microcontrollers.
The People's Republic of China continues to lead the sector of electric vehicles despite variations in sales between regions and powertrains. Sales of BEVs surged by 60% in China in 2022 compared to 2021 to reach 4.4 million, and sales of PHEVs nearly tripled to 1.5 million. New Zealand released its first elaborate strategy for reducing emissions in May 2022. By 2035, it hopes that 30% of the light duty vehicle stock will be ZEVs. Even though New Zealand only started offering a purchase subsidy in the middle of 2021, electric cars made up over 10% of all new vehicle sales in 2022. Hence, the region presents lucrative growth prospects for the market.
The China market dominated the Asia Pacific Automotive DC-DC Converter Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.8 billion by 2030. The Japan market is estimated to grow at a CAGR of 27.6% during (2023 - 2030). Additionally, The Taiwan market would witness a CAGR of 29.6% during (2023 - 2030).
Based on Type, the market is segmented into Isolated and Non-Isolated. Based on Vehicle Type, the market is segmented into BEV and PHEV. Based on Application, the market is segmented into Passenger Cars and Commercial Vehicles. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Taiwan, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Automotive DC-DC Converter Market is Projected to reach USD 15.3 Billion by 2030, at a CAGR of 28.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, Infineon Technologies AG, Eaton Corporation PLC, BorgWarner Inc., Vicor Corporation, Toyota Industries Corporation, Skyworks Solutions, Inc., Texas Instruments, Inc., Continental AG, and HELLA GmbH & Co. KGaA
By Type (Volume, Thousand Units, USD Million, 2019-2030)
By Vehicle Type (Volume, Thousand Units, USD Million, 2019-2030)
By Application (Volume, Thousand Units, USD Million, 2019-2030)
By Country (Volume, Thousand Units, USD Million, 2019-2030)
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