DC-DC Converter Market
DC-DC Converter Market is estimated to account for USD 18.23 Billion by the end of the year 2030. However, this market is estimated to hold a 11.59% CAGR during the review period of 2020 to 2030. Generally, the DC-DC converter is an electromechanical or electronic circuit device. This device is helpful to convert a direct current (DC) source from one level of voltage to another level. These converters are relatively used to efficiently produce a regulated voltage from a direct current source, which may or may not be controlled effectively—for example, solar power to a connected load that may or may not be controlled well. Here, a constant voltage output has been maintained by its closed feedback loops even at the time of changing output currents and input voltages.
The market segments are playing a vital role in strengthening the global DC-DC Converter Market Outlook during the analysis period. The 3 VDC is anticipated to expand a steady CAGR in the assessment period as this voltage requires a smaller number of loads to run. Similarly, this voltage range is extensively used through the satellite power control units. On the other hand, the 24 VDC is projected to witness the highest CAGR over the review timeframe. This segment includes various loads such as telemetry and telecommand (TCTM) unit; magnetometer, reaction wheel (RW); and payload, power, and data handling unit (PPDHU), which requires 24 VDC for its operation.
Further, the 20–40 W converter is anticipated to expand at the highest CAGR in the review period. This segmental converter is driving the market growth because of the integration of 20 to 40 W DC-DC converters with the rising small satellites deployment in the low Earth orbit. For instance, the 20 W converter is projected to show a steady CAGR over the research period. This segment is growing due to its significant features like being available in dual or single output versions, a wide input voltage range, and a very low leakage current.
Competitive Landscape Analysis
As per the DC-DC Converter Market Analysis, high competition has been witnessed in the global market. These global market players are:
- Synqor Inc. (US)
- Thales Group (France)
- Crane Aerospace and Electronics (US)
- Asp Equipment GmbH (Germany)
- Airbus SAS (Netherlands)
- Vicor Corporation (US)
- VPT Power Inc. (US)
- Infineon Technologies AG (Germany)
- Steel S.P.A (Italy)
- Microsemi Corporation (US)
- UTC Aerospace Systems (US)
- Texas Instruments (US)
These above-mentioned key players are implementing new strategies like a partnership, merging and acquisition, agreements, and promotion of the product to enhance the DC-DC Converter Market Size in the upcoming years.
Market Dynamics
Key Market Drivers
The global DC-DC Converter Market Share is thriving on a large scale due to the growth in deployment of small satellites across the globe. Moreover, private firms' large-scale investments in space exploration missions are driving the market growth during the research timeframe.
For instance, the China government has announced a 10% service tax waiver for electric vehicles in April 2020, which has increased the demand of the DC-DC Converter Market during the forecast period.
Market Opportunities
The global DC-DC Converter Market has lucrative growth opportunities for the key vendors because of the development of satellites for agricultural monitoring, day-to-day communications, weather monitoring, and national defense.
Furthermore, the growing research and development related to the direct current converter are bringing significant opportunities for the DC-DC Converter Market.
Market Restraints
The global DC-DC Converter Market Growth might experience restraints because of the growing volume of space debris across the world. Moreover, the high prices associated with direct current might hamper the market growth during the assessment period.
In addition, the stringent Governmental regulations related to the direct current might hinder the growth of the global DC-DC Converter Market.
Market Challenges
The global DC-DC Converter Market might experience challenges due to the strident regulations for DC converters. Also, the high cost of the DC converter might bring more challenges for the worldwide market,
For instance, the issues associated with stringent space regulations and commercially available converters might become the major challenge for the DC-DC Converter Market.
Market Segmentation
Globally, the DC-DC Converter Market Trends is based on various market segments such as output voltage, output power, and application.
By Output Power:
In terms of output power segment, the worldwide DC-DC Converter Market has been classified into 40–100 W, 20–40 W, and 20 W.
Among all, the 40–100 W segment holds the largest DC-DC Converter Market Share for 2018. The 40–100 W converter provides various features such as a differential remote sense, remote off or on control with optional logic polarity, an industry-standard output voltage adjustment with the use of an external resistor, and an under-voltage lockout (UVLO).
By Output Voltage:
The global DC-DC Converter Market has been segregated into 24 VDC, 5 VDC, and 3 VDC based on the output voltage segment.
In 2018, the 5 VDC segment was accounted to hold the largest DC-DC Converter Market Share. There are major loads such as wheel drive electronics (WDE), fine sun sensor (FSS), attitude control computer (ACC), an onboard computer (OBC), and reaction wheel assemblies (FOG), which operates with the 5 VDC.
By Application:
The current DC-DC Converter Market has been segregated into communication, surveillance, remote sensing, and navigation based on the application segment.
In 2018, the communication segment was registered to dominate the global DC-DC Converter Market Trends because of the growing investments in the development of communication satellites by military agencies, commercial and governmental agencies around the globe. On the other hand, the navigation segment is projected to generate a higher growth rate for the analysis period due to the rising development of advanced navigation in various parts of the world.
Regional Analysis
As per the DC-DC Converter Market Forecast report, the present market has covered many regions such as Europe, the Middle East & Africa, Asia-Pacific, North America, and Latin America.
In 2018, the North American regional market was projected to lead the DC-DC Converter Market and is further estimated to continue the largest regional market in the research timeframe. This region is expanding because of the rising investments in the development of advanced satellites by various private firms and space agencies. Moreover, the European DC-DC Converter Market is anticipated to be the second-largest market in the forecast period due to the growth in space exploration activities in Germany, Russia, France, and the UK. Also, this region is consists of major players like Infineon Technologies AG, Thales Group, Asp Equipment GmbH, and Airbus SAS, which is fueling the DC-DC Converter Market Growth in the region.
Apart from these areas, the Middle East & African market includes Israel, the UAE, and Saudi Arabia. This regional market is expanding due to the rising demand for communications and navigation satellites in Saudi Arabia and UAE. In addition, the Latin American DC-DC Converter Market is growing due to the growing use of satellite imagery for the control of illegal migration, deforestation monitoring, and intelligence gathering on drug trafficking and rebel groups in the region.
Report Overview
The DC-DC Converter Market Forecast report explains that the present report is consists of market dynamics, segments, regional classification, competitive analysis, market overview, recent developments, and covid-19 report.
In this DC-DC Converter Market Outlook report, the performance of the global market has been measured through the use of qualitative and quantitative research methods, which shows the significant growth in the global market.
Segmental Table:
By Output power
- 40–100 W,
- 20–40 W,
- 20 W
By Output Voltage
- 24 VDC,
- 5 VDC,
- 3 VDC
- FAQs
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