The Europe Automotive DC-DC Converter Market would witness market growth of 27.7% CAGR during the forecast period (2023-2030).In the year 2020, the Europe market's volume surged to 453.6 thousand units, showcasing a growth of 10.1% (2019-2022).
In order to lower the size of the output capacitors and inductors while freeing up space aboard power equipment, these converters are designed to work at high switching frequencies. To decrease the overall volume of space occupied by device circuits as well as to enhance their performance, electronic component makers require cutting-edge and miniaturized DC-DC converters for use in their electronic components. To meet the power supply needs of various automotive vehicles, including battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell electric vehicles, among others, this has also led to the creation of very sophisticated DC-DC converters. The demand for DC-DC converters is rising across the automotive industry as a result of the increasing use of energy-efficient electric vehicles to reduce GHG emissions and the rising demand for safety and connectivity features in passenger vehicles.
Automobile start-stop systems automatically stop engine combustion while the vehicle stands and restart the engine using DC-DC converters. Because of efforts by manufacturing participants to develop greener environments with low carbon emissions, the implementation rate of DC-DC has increased at a sound rate. Market players are developing strategies for the design and development of DC-DC converters. They are concentrating on deploying DC-DC converters with compact sizes and improved efficiency to benefit their clients. By examining fundamental product designs, manufacturers can provide clients who are creating new products with packed device solutions.
Sales of electric vehicles in Europe reached 2.7 million in 2022, a rise of more than 15% from 2021 levels. Sales increased more swiftly in prior years: yearly growth averaged 40% from 2017 to 2019 and exceeded 65% in 2021. Sales of BEVs increased by 30% compared to 2021 in 2022. The regional manufacturers immediately altered their corporate strategies under the CO2 emission rules established in 2019. These technologies specifically include battery and storage technologies. These statements coincided with the Fit for 55 packages' tightening CO2 limits for vehicles sold between 2030 and 2035. This market is expected to rise as electric vehicle sales in this region increase.
The Germany market dominated the Europe 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 $1.0 billion by 2030. The UK market is poised to grow at a CAGR of 26.7% during (2023 - 2030). Additionally, The France market would exhibit a CAGR of 28.9% 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 Germany, UK, France, Russia, Norway, Netherlands, and Rest of Europe.
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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