An automotive DC-DC converter is a category of power converters that transforms a direct current source from one voltage level to another. This voltage can be unidirectional and transfer power in a single direction, or bidirectional and transfer power in either direction. The voltage received from a battery or other electronic devices is converted to the required power in devices such as instrumentation panels, entertainment systems, sensors, LED lighting, and any other onboard device that requires low voltage DC power. DC-DC converters are more reliable and cost-effective than standard transformer circuits. The automotive DC-DC converters market is projected to grow from an estimated USD 339 million in 2020 to USD 1,432 million by 2025, at a CAGR of 33.4% during the forecast period. The growing adoption of energy-efficient electric vehicles such as battery electric vehicles, plug-in hybrid vehicles, and fuel cell vehicles to curb GHG emissions from the automotive industry; improved safety, fuel efficiency, and advanced driver assistance systems; and the growing demand for safety and connectivity features in passenger vehicles are driving the demand for DC-DC converters across the automotive industry.
Mergers & acquisitions, new product launches & certifications, contracts, partnerships & agreements, expansions, collaborations, and joint ventures are among some of the key strategies adopted by the leading market players and various stakeholders to strengthen and sustain their position in the automotive DC-DC converters market. For instance, in October 2020, BorgWarner Inc. completed the acquisition of Delphi Technologies. This acquisition was expected to strengthen BorgWarner’s electronics and power electronics products, capabilities, and scale. In July 2020, Denso Corporation established Global R&D Tokyo, Haneda, as a new base for R&D on automated driving and related technologies.
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Major players operating in the automotive DC-DC converters market include BorgWarner Inc. (US), Denso Corporation (Japan), Valeo (France), Vicor Corporation (US), TDK-Lambda Corporation (Japan), Delta Electronics (Taiwan), Continental AG (Germany), Toyota Industries Corporation (Japan), Hyundai Mobis (South Korea), and Robert Bosch GmbH (Germany), among others. These key players offer various products and services in order to cater the increasing demand of electrification of vehicles in automotive industry. These leading players have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, and Asia Pacific.
BorgWarner Inc., a US-based company, is one of the leading market players in the automotive DC-DC converters market. It was founded in 1928, and its core competencies include catering to a wide range of applications. The company manufactures DC-DC converters for various automotive vehicles and technologies, including hybrid vehicles, electric vehicles, light vehicles and commercial vehicles, among others. It is a multinational company with operations in Japan, China, South Asia, the Americas, and Europe, among others. In August 2020, BorgWarner Inc. entered into a partnership with Ford Motor Company (US) to develop and supply the power-packed Integrated Drive Module (iDM) for Ford’s new all-electric Mustang Mach-E SUV.
Denso Corporation a Japan-based company, is focused on technological innovations in order to meet the rising global demand for automotive electrification technologies and products. It is strengthening its ability to develop and produce key components for electric vehicles by conducting various R&D activities. As part of this initiative, in June 2020, the company established the Electrification Innovation Center at Denso's Anjo plant located in Aichi, Japan. In addition, in July 2020, Denso Corporation established Global R&D Tokyo, Haneda, as a new base for R&D on automated driving and related technologies. This expansion provides a location for the company to design and develop automated driving technology, an automotive service building to carry out works including installing prototype systems in vehicles.
Valeo, a French-based company, is positioned as the leader in powertrain electrification, both, for 48V systems and high voltage (over 60V) electric solutions through its joint venture with Siemens, forming Valeo Siemens eAutomotive. In October 2019, Valeo and Dana Incorporated collaborated to bring to market end-to-end 48V hybrid and electric vehicle systems.
Vicor Corporation, a US-based company, is a leading global power module technology company. Vicor Corporation continues to invest in the research & development of power system technologies and product concepts addressing technology trends in power electronics. In May 2020, Vicor Corporation introduced the DCM3717, a 750W regulated 48V-to-12V converter with 97% peak efficiency. The new DCM3717 enables customers in the data center, automotive, and industrial markets to quickly deploy high-performance 48V power delivery for legacy 12V loads.
TDK-Lambda Corporation, a Japan-based company, is focused on manufacturing power supplies for industrial equipment. It is focused on extensive R&D activities. It has R&D facilities in Japan, China, the US, and in some countries in Europe and Asia. The company offers both, isolated and non-isolated DC-DC converters. In January 2019, TDK-Lambda Corporation acquired Nextys Sa (Switzerland), an innovator in DIN rail power supplies and accessories. This acquisition strengthened the market position of TDK-Lambda in the rapidly growing DIN rail power supply business and enhanced its product portfolio.
Automotive DC-DC Converters Market by Vehicle Type (Commercial, Passenger), Propulsion Type (BEV, FCEV, PHEV), Product Type (Isolated, Non-Isolated), Input Voltage, Output Voltage, Output Power, Region - Global Forecast to 2025
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