Portland, Nov. 24, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global DC-DC converter market was pegged at $8.75 billion in 2019, and is projected to reach $17.85 billion by 2027, growing at a CAGR of 11.1% from 2020 to 2027.
Increase in adoption of electric vehicles, surge in usage of DC-DC converter in railway application, and rise in demand for power electronics components drive the growth of the global DC-DC converter market. However, regulation and safety standards hamper the market. On the contrary, increasing adoption of 5G technology in developing nations is expected to create lucrative opportunities in the future.
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Covid-19 scenario:
- The production facilities of the DC-DC converter have been partially or completely shut due to lack of workforce.
- The Covid-19 pandemic has caused a significant drop in manufacturing utilization and travel ban and facility closure kept workers out of their factories.
The global DC-DC converter market is segmented on the basis of input voltage, output voltage, mounting style, application, and region. By input voltage, the 5-36V segment dominated the market in 2019, accounting for more than two-fifths of the market, and is expected to register the highest CAGR of 11.8% during the forecast period.
On the basis on output voltage, the 5V segment held the lion’s share in 2019, contributing to nearly half of the market, and is expected to register the highest CAGR of 11.8% during the forecast period. Based on mounting style, the through hole segment held the largest share in 2019, accounting for more than three-fourths of the market. However, the surface mount is expected to portray the highest CAGR of 12.0% during the forecast period.
Based on application, the smartphone segment held the largest share in 2019, contributing to more than two-fifths of the market. However, the EV battery segment is expected to register the highest CAGR of 12.5% during the forecast period.
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The global DC-DC converter market across North America, Asia-Pacific, LAMEA, and Europe. The market across Asia-Pacific held the largest share in 2019, contributing to nearly one-third of the market, and is expected to manifest the highest CAGR of 12.3% during the forecast period.
The global DC-DC converter market report includes an in-depth analysis of key market players such as Ericsson, Murata Manufacturing Co. Ltd., Delta Electronics Inc., TDK-Lambda Corporation, Texas Instruments, General Electric (GE), and Vicor Corporation.
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