Global Automotive DC-DC Converter Market 2022-2027

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    Published- Oct 2021

    Number of pages- 155

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    1. At present 180+ BEVs are under development globally, which will be launched by 2022-2023, and the long-term supplier contracts for DC-DC converters are still being worked upon.
    2. As of June 2022, 10.7% of vehicles sold globally have DC-DC converter and by 2026 the share will go up to XX%.
    3. The DC-DC converter market in US will be driven by BEVs, which will account for 53% share in 2019 and 48% share in 2025, 2-2.5kW converters will make up for a significant chunk of demand.
    4. In the passenger vehicle segment, Tesla vehicles have the most powerful DC-DC converter and onboard chargers at 2.5kW and 7.7kW-11.5kW respectively. The compact Chinese BEVs have a low power converter, but their share has been gradually shrinking as of Q2-2022.
    5. In China, which accounts for 49.6% of global EV sales, the automotive DC-DC converter market is heavily skewed towards low-powered compacts. Vehicles with <25kWh batteries and <2kW DC-DC converters comprised a significant share of EV sales in China in 2021. But, as of Q2-2022, the market structure has significantly changed.
    6. China and Europe will be the markets to look out for mainly because of the increasing sales of plugged-in Vehicles. Japan will have a strong market presence due to their MHEV sales.
    7. Canada accounted for 85% of EV sales in the ROW region in 2020 and the remaining 10% was spread across various Latin American, Middle East and African countries.
    8. The implementation of the 800-V system in the upcoming passenger electric vehicles will increase the growth of the DC-DC converter market all around the world
    9. DC-DC converters are evolving to provide other functions such as pre-charging, which involves using the low voltage supply and boosting it to begin powering up high voltage loads. Another function is active discharging, in which circuits in the converter are used to bleed down high voltages in other components as the vehicle powers down. All of these require reliable protection and communication with the vehicle’s primary ECU
    10. Silicon Carbide (SiC) power semiconductor for automotive applications, there are new opportunities to further optimize and improve the performance of VVC, e.g. lower power loss, smaller size, and lighter weight, compared to the use of traditional Silicon (Si) IGBT and diode.
    11. Reduction of magnetic flux leakage is the primary concern. The application of the proposed coupled inductors has increased the continuous power density of the DC-DC converter approximately 2-fold in comparison with the conventional unit employed in previous-gen vehicles.
    12. The volume of electrified commercial vehicles will be just 190 thousand units in 2020 and XX thousand units in 2026. ~70% of the volume will be buses and LCVs in China.
    13. Delphi Technologies has launched a Combined Inverter and DC-DC Converter (CIDD) for hybrid, plug-in electric and battery electric vehicles which deliver maximum power density in a lighter, smaller and cost-effective component. 
    14. The other important parameter for using CIDD as it improves the voltage distribution functionality enabling both low-side and high-side power from headlights to power steering and air conditioning systems.



    As fossil fuel powered engines get closer to prohibition, many OEMs are looking up to vehicle electrification as a saviour. Battery powered electric vehicles will not become mainstream unless battery costs come down to <$100/kWh and fast charging infrastructure becomes a common place. Now, that leaves manufacturers with a bridge gap or a “hybrid” solution.


    infographic: automotive dc-dc converter market, dc dc converter market in the Americas, Global DC DC Converters Market, dc dc converter automotive suppliers, dc to dc converter market size

    A 48V Mild-hybrid/Plug-in hybrid architecture can result in 10%-16% increase in fuel economy at an added cost of 6%-12% of vehicle. In any case, hybridization warrants a DC-DC converter in a vehicle.



    SI No Timeline Company/Region Developments
    1 Q4-2021 US Rivian, Fisker Thor and many new startups are targeting SUV and coupe segments, which will mostly use bigger batteries and hence >2kW DC-DC converter
    2 Q4-2021 Europe Ford is aggressively looking at electrification for its best-selling cars as well as vans. It may partially exit the passenger car scene 4-5 years later and exclusively focus on high margin van business
    3 Q4-2021 Japan hybrid vehicles sold in Japan are non-plugin but they are also not 48V Mild hybrids, as they have a traction motor rated at 144A-160A, therefore they utilize 1.5-1.8kW DC-DC converter



    The ousting of Diesel as a fuel of choice has been driving the market in Europe. The onset of WLTP cycle in Europe has delivered almost a deadly blow to the diesel.


    Share of Diesels in new car registration has gone below 35% in top 5 EU markets in Jan-Sep 2019 and we expect it to reach <25% by 2021.Mild hybrids and Plug in hybrids will be the biggest benefactors of this market shift, ultimately driving the automotive DC-DC converter market.


    The on-board DC-DC converter has undergone many improvements in recent past like optimization of control output, weight and size reduction, and improved NVH (noise vibration and harshness).


    When Hitachi launched its 3rd gen DC-DC converter, back in 2014 it was 40% compact and 5% more efficient than the one it replaced. Similarly, Delphi launched industry first combined inverter and DC/DC converter in China in July 2018.


    So, far the efficiency of power electronics for automotive applications has been limited due to use of Silicon. Going forward, we expect new materials like SiC (Silicon Carbide) to gain more traction, as it has nearly 10 times higher electric field strength and 3 times higher thermal conductivity.


    Vehicle electrical systems used to be minimal, just responsible for basic lighting, ignition, and possibly powering a basic sound system. Modern automobiles, on the other hand, have significantly more complicated electrical needs, such as modern lighting systems, entertainment platforms, navigational and guidance controls, and so on.


    Electric vehicles (EVs) in particular have raised the bar for power requirements, and the emergence of autonomous vehicles is adding to the complexity of power design.Changes to the on-board DC/DC converter responsible for powering this complex and diverse group of equipment are what this means for automobile electricity.


    The necessity for reliable and constant power is critical for electric vehicles in particular. Traditional silicon is just not up to the task of meeting the demands of modern electric vehicles.


    Other new Silicon are equipped for the challenges that today’s EVs face, especially when it comes to on-board DC/DC converters, with more reliability and efficiency than any silicon-based technology.




    FORD Fiesta 2020 Europe
    FORD Focus 2020 Europe
    FORD Kuga 2020 Europe
    FORD Puma 2020 Europe
    FORD Transit 2019 Europe
    MAHINDRA Scorpio ( new gen) 2020 India
    BMW X1 2020 Europe,US
    BMW 5 Series 2020 Europe
    HYUNDAI Tucson 2019 Europe
    MG Hector 2019 India
    SKODA Octavia 2020 Europe
    Mercedes Benz GLS 2019 Europe,US
    Mercedes Benz GLC 2019 Europe,US



    Infographic: Global Automotive DC-DC Converter Market- Size growing at 23% CAGR. This report details the market growth by region




    SI No Timeline Company Developments
    1   2021 Cree(Wolfspeed) Wolfspeed has forecast it will generate $1.5 billion in revenue in 2024, with $900 million coming from materials sales and $600 million from chip sales
    2  2021 ON Semiconductor


    ON Semiconductor obtained 35% of its Q1 2021 revenue from the automotive market selling chips for auxiliary power supplies, and for DC/DC converters used by plug-in hybrids.
    3 2021 STMicroelectronics

    Tesla uses SiC inverters from STMicro within the Model 3’s powertrain.
    4 2021 NXP Semiconductors

    NXP’s BMS are used by Volkswagen, and the business has announced landing design wins with Chinese EV manufacturers.


    By 2025, xEVs will account for 10% of total vehicular production, as compared to ~5% in Jan-Sep 2019.48V Mild hybrids will account for a major chunk of those vehicles. China and Japan cumulatively accounted for more than 40% of global DC-DC converter market in Jan-Sep 2019.The Chinese EV sales quota of 8% in 2019, 10% in 2020 and 20% by 2025 has spurred investment in China by many foreign tier-1 electronics manufacturers. But, subsidy reduction in July 2019 has brought down EV sales in China by more than 30% in Q3-2019.


    Diesel Mild- hybrids are the latest application for automotive DC-DC converters. Kia, Audi, FCA group have announced plans to launch multiple Diesel mild-hybrid models in 2019.48V also allows for electrification of other ancillaries like electric HVAC compressor, electric coolant pumps, electric turbochargers, electronic air suspension etc.


    infographic: automotive dc-dc converter market, dc dc converter market in the Americas, Global DC DC Converters Market, dc dc converter automotive suppliers, dc to dc converter market size

    China is the biggest EV DC-DC converter market at present by volume and it is majorly comprised of BEVs, which is a very sharp contrast as compared to US, Europe or even Asia Excluding China.


    Japan had more than 25% share of HEVs in Jan-Sep 2019. We expect many long range BEV models with connected and semi-autonomous features to be introduced in the Chinese market post 2021 from all mainstream domestic brands like Geely , JAC, Great Wall Motors, SAIC etc ,many of them are under development right now.


    In Europe, Ford(6-7% market share) is aggressively looking at electrification for its best-selling cars as well as vans. It may partially exit the passenger car scene 4-5 years later and exclusively focus on high margin van business.Among mass segment brands, VW ,Skoda and Seat will rely on MEB platform and low cost BEVs.


    In terms of volume, the xEV DC-DC converter market size was estimated at 4.8 Million units in 2019, growing at 23% CAGR to 2025.




    infographic: automotive dc-dc converter market, dc dc converter market in the Americas, Global DC DC Converters Market, dc dc converter automotive suppliers, dc to dc converter market size




    By converting power from a high-voltage battery through galvanic isolation, the high-voltage DC/DC converter generation 3evo provides power to the 12 V vehicle boardnet. The DC/DC generation 3evo is available worldwide, offers outstanding electromagnetic compatibility (EMC) thanks to its ripple correction feature, and ensures maximum efficiency at various loads thanks to its multi-phase architecture (1,2 kW + 1,8 kW).


    On the Bosch electronic engine control unit production lines, the generation 3evo is a cost-effective standalone converter developed for automotive applications.


    Reduced interconnects result in enhanced robustness, which is achieved by using a single board architecture.


    Battery charging contactor and resistor are removed during reverse power transmission.


    Production of standalone DC/DC converters on Bosch electronic engine control unit production lines is cost-effective.



    The DC-DC converter market has more than 10 vendors and the top 9 listed below accounted for a major chunk of the market in 2018. As this power electronics component requires high expertise and robust validation, the barriers to entry are significantly high.


    Thus, we have only the established tier-1s supplying this component to the OEMs. Toyota Industries, Continental AG, Delta Electronics and Valeo are the leading players in the automotive DC-DC converter market globally.


    Suppliers like Continental and Hyundai Mobis have an edge over other suppliers in DC-DC converter market as they offer complete 48V mild hybrid system( to OEMs as opposed to other suppliers who offer individual hybridization components.


    Toyota Industries developed its new DC-DC converter for electrified vehicle to convert high voltage from the battery to low voltage required for auxiliary battery and devices. This converter has high heat-dissipation thick copper substrate which results in smaller and more light weighted DC-DC converter


    In August 2021, BorgWarner and Delphi Technologies  has signed a contract with China Mobility market to supply its dual inverters for two premier Chinese OEMs to featured on both hybrid electric vehicles and plug-in hybrid electric vehicle version of the GWM LEMON platform.


    The production for the GWM dual inverter is currently underway, with and without a DC-DC converter option.


    infographic: automotive dc-dc converter market, dc dc converter market in the Americas, Global DC DC Converters Market, dc dc converter automotive suppliers, dc to dc converter market size


    Most of the suppliers have launched new and improved products to improve their positioning in the market. Some of the suppliers offer DC converters as a standalone sub-component, whereas some offer it as a part of complete 48V mild hybrid system.


    In terms of inorganic growth, there have been very few partnerships and almost none acquisitions in the automotive DC-DC converter market.


    To capitalize on growing DC-DC converter market volume, suppliers have devised diversified strategies. Eaton created a new E-mobility business in June 2018, to supply power electronics to passenger and commercial vehicle market.


    Continental partnered with China based battery manufacturer CITC in March 2018 to supply complete 48V mild hybrid system.


    1. Delphi Plc
    2. Delta Electronics
    3. Valeo
    4. Toyota Industries
    5. LG Innotek
    6. Continental AG
    7. Denso Corporation
    8. HELLA GmbH & Co. KGaA
    9. Hyundai Mobis



    1. The most important global EV trends, by vehicle segment
    2. Important partnerships and developments in battery manufacturing that will affect the outlook of global EV market
    3. Size of automotive DC-DC converter market per annum in top 10 EV markets globally,2022-2027
    4. DC-DC converter market segmented by power output
    5. 48v Mild Hybrid Penetration in New Car Sales 2022-2027and upcoming high-volume mild hybrid vehicles
    6. Upcoming EV platforms and their probable DC-DC converter configuration
    7. Scope for integrated DC-DC converter (DC- DC converter coupled with On-board charger/inverter) in EV market
    8. What do the various EV industry stakeholders have to say about automotive DC-DC converter market
    9. Latest technological development and new product launches in the automotive DC-DC converter market
    10. Role of China in the growth of automotive DC-DC Converter market
    11. Will countries like India, Brazil and South Africa become a major EV market by 2027?
    12. Market share of leading tier-1 suppliers and their growth strategy
    13. All about automotive DC-DC converter manufacturing, top 5 regions
    14. Average B-2-B DC-DC Converter price in US, Europe and China
    15. The growth of non-plug in hybrid vehicles, which do require a DC-DC converter but don`t fall in the category of BEVs/PHEVs


    1 Market Segmentation 3
    2 Executive Summary 5-6
    3 Introduction 7-15
    4 Insights from Industry stakeholders 11
    5 Key criteria for DC-DC Converter vendor selection by OEMs 12-13
    6 DC-DC Converter manufacturing in US, Europe and China 14-15
    7 Breakdown of new EV concept vehicles by powertrain and power electronics 16-17
    8 Upcoming EV platforms 18-19
    9 Disruptive innovations in DC-DC Converter market 20-21
    10 About future of Integrated DC- DC converter with on board charger and inverter 22-23
    11 Market Size ,Dynamics and Forecast By EV Type 23-35
    12 Market Size ,Dynamics and Forecast By Geography 36-59
    13 Market Size ,Dynamics and Forecast By Vehicle Type 60-70
    14 Competitive Landscape 71-72
    15 Company Profiles 73-82
    16 Unmet needs and Market Opportunity for suppliers 83
    17 Conclusion 84
    18 Appendix 85
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