According to Future Market Insights (FMI), the global automotive DC-DC converter market is estimated to reach a valuation of US$ 21,996 million in 2023. From 2023 to 2033, global sales of automotive DC-DC converters are projected to soar at 30.1% CAGR. By 2033, total market size is forecast to reach US$ 289,542 million.

The isolated DC-DC converters segment dominates the global market with a share of around 86.1% in 2023. By vehicle type, BEV segment accounts for a prominent share of the global automotive DC-DC converter industry.

The global market for automotive DC-DC converters is projected to expand rapidly as a result of the fast-growing electric vehicle market.

Get more info: https://www.futuremarketinsights.com/reports/automotive-dc-dc-converter-market 

Electric vehicles are rising to fame due to growing environmental concerns and increasing fuel costs. Similarly, governments worldwide are putting efforts towards promoting adoption of electric vehicles. This in turn is expected to elevate automotive DC-DC converter demand.

Almost all electric vehicles require a DC-DC converter to control their electrical systems. These converters are essential for proper functioning of various vehicle components and systems.

Manufacturers are strongly improving their material and built qualities of automotive DC-DC converters. They are concentrating on meeting rising demand for more efficient automotive DC-DC converters in different types of electric vehicles.

Key manufacturers worldwide are actively engaged in developing their direct presence in the local markets through joint ventures and acquisitions with domestic businesses. They are concentrating on expanding their customer base by developing providing solutions with different power ranges and voltage requirements within electric vehicles.