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Published- Oct 2021
Number of pages- 155
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.
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.
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.
UPCOMING 48V MHEV VEHICLES
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.
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.
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.
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.
