The global DC-DC converter market size was valued at USD 14.90 Billion in 2025. The industry is expected to grow at a CAGR of 10.50% during the forecast period of 2026-2035 to reach a value of USD 40.44 Billion by 2035. The market growth is driven by the rapid adoption of wide-bandgap semiconductors such as Gallium Nitride (GaN) and Silicon Carbide (SiC).
GaN and SiC enable DC-DC converters to deliver higher efficiency, compact design, and improved thermal performance. These materials allow converters to operate at higher switching frequencies with minimal energy losses, aligning with the growing need for power-dense solutions in electric vehicles, renewable energy systems, and advanced computing infrastructure.
To accelerate this transition, semiconductor leaders are expanding their GaN and SiC capabilities through strategic product and facility investments. For instance, Texas Instruments expanded its low-power GaN portfolio in November 2023, introducing components that allow AC-DC power adapters to shrink by up to 50%, enhancing converter efficiency and density.
Similarly, Wolfspeed partnered with ZF Friedrichshafen in February 2023 to develop a EUR 3 billion SiC semiconductor manufacturing facility in Germany, reinforcing global supply chains for next-generation power devices. These advancements collectively underscore how GaN and SiC technologies are transforming the global DC-DC converter market landscape.
Base Year
Historical Period
Forecast Period
Compound Annual Growth Rate
10.5%
Value in USD Billion
2026-2035
*this image is indicative*
| Global DC-DC Converter Market Report Summary | Description | Value |
| Base Year | USD Billion | 2025 |
| Historical Period | USD Billion | 2019-2025 |
| Forecast Period | USD Billion | 2026-2035 |
| Market Size 2025 | USD Billion | 14.90 |
| Market Size 2035 | USD Billion | 40.44 |
| CAGR 2019-2025 | Percentage | XX% |
| CAGR 2026-2035 | Percentage | 10.50% |
| CAGR 2026-2035 - Market by Region | Asia Pacific | 11.3% |
| CAGR 2026-2035 - Market by Country | India | 11.8% |
| CAGR 2026-2035 - Market by Country | Canada | 10.9% |
| CAGR 2026-2035 - Market by Output Voltage | 15V and above | 12.2% |
| CAGR 2026-2035 - Market by Mounting Style | Surface Mount | 11.4% |
| Market Share by Country 2025 | Japan | 4.1% |
The initial DC-DC converter market expansion has been significantly driven by a rise in the production of electric and hybrid vehicles that require high-efficiency DC-DC converters to handle the onboard power. OEMs need small-sized, thermally stable power modules for very advanced battery systems. In connection with this, Vitesco Technologies unveiled in August 2024 its new 800V SiC-based DC-DC converters generation, which are aimed at next-generation EVs and are thus able to promote charging efficiency and energy recovery.
The gradual change of power distribution architectures from 12V to 48V in EVs and data centers results in a higher need for advanced and high-density DC-DC converters. To maximize the energy conversion efficiency, companies engage in the development of modular solutions. Vicor Corporation came up with its latest 48V-to-12V DCM converters in March 2025 to serve the purpose of building smaller yet more efficient power systems for AI servers and EVs. This move is in line with the trend of switching to 48V PDNs.
The growing demand for compact and efficient electronics in the telecom and industrial automation sectors has been a key driver of the DC-DC converter market, fueling innovations in miniaturized and high-performance DC-DC modules. On the other hand, manufacturers have been devoting their efforts to power density and thermal management to comply with board-space limitations. Texas Instruments revealed its 1.5W isolated DC-DC modules at APEC in February 2024, which can deliver up to 89% of the efficiency in a very small unit, thus enabling designers of smaller, portable power systems to benefit.
The DC-DC converter scene is witnessing changes brought about by major power electronics firms' decisions to undertake various streamlining measures such as mergers, acquisitions, and divestitures. The resulting realignments not only offer these firms the chance to concentrate on their core segments but also to accelerate innovation. In February 2023, Infineon Technologies finalized the transaction that saw the sale of the HiRel DC-DC converter business to Micross Components, a move that strengthened Micross’s space-grade product portfolio and was the company's step towards the broader industry transition of focusing on specialization.
To support the densification of infrastructures which go hand in hand with the rapid rollout of 5G networks and Power over Ethernet (PoE) systems, telecom operators are investing more in the acquisition of high-efficiency, isolated DC-DC converter market. In May 2025, Murata Manufacturing Co. broadened the range of his PoE-compatible isolated converters with the introduction of units having a higher power output and better heat dissipation capabilities for next-generation wireless base stations. This is consistent with the industry's orientation towards miniaturized and reliable power modules.
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The EMR’s report titled “Global DC-DC Converter Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by Input Voltage
Key Insights: The 5–36V segment dominates the DC-DC converter industry, driven by rising demand for compact and efficient solutions in consumer electronics and industrial systems. Manufacturers are enhancing power density and thermal performance to support miniaturization trends. The 36–75V range is expanding with telecom and data center growth. In May 2025, Murata Manufacturing Co. expanded its 48V-input converter lineup to improve efficiency for 5G and PoE applications. Meanwhile, converters above 75V are advancing for EVs and renewable energy.
Market Breakup by Output Voltage
Key Insights: The 3.3V and 5V segments lead in consumer electronics, IoT devices, and low-power industrial systems, where compact, efficient power delivery is crucial. The 12V segment is prominent in automotive, telecom, and industrial applications requiring stable intermediate voltage. Reflecting this trend, Texas Instruments Inc. launched new power management solutions supporting 12V outputs, demonstrated at APEC 2025 and other portfolio expansions in 2024. Meanwhile, the 15V and above segment is expanding rapidly, driven by high-power applications in electric vehicles, renewable energy, and aerospace, supporting efficient energy transmission and complex, high-demand loads, thereby supporting the expansion of DC-DC converter market.
Market Breakup by Mounting Styles
Key Insights: The surface-mount segment dominates due to its compact size, automated assembly compatibility, and suitability for high-density PCB designs in consumer electronics, telecom, and automotive applications. Manufacturers are developing miniaturized, high-efficiency modules to meet these demands. Conversely, the through-hole segment remains relevant in industrial, aerospace, and rugged applications where mechanical stability and high thermal dissipation are critical. Companies are optimizing through-hole converters for durability and reliability in harsh operating environments.
Market Breakup by Applications
Key Insights: The smartphone application category of the global DC-DC converter market drives demand for compact, high-efficiency converters to manage battery power in ultra-thin designs. Servers and PCs rely on stable, high-density DC-DC modules for reliable data processing and energy-efficient operation. The EV battery segment is expanding rapidly, fueled by electric vehicle adoption and the need for high-power, wide-input converters. For example, Bel Fuse Inc. released its 4 kW liquid-cooled DC-DC converter in late 2023, designed for rugged EV and hybrid vehicle auxiliary systems, reflecting the push for robust and high-performance EV power solutions. Railways require rugged, durable converters capable of withstanding harsh conditions, while medical equipment applications demand highly reliable, isolated DC-DC modules for patient safety and regulatory compliance.
Market Breakup by Region
Key Insights: North America holds the largest share of the DC-DC converter market revenue with advanced automotive, aerospace, and industrial applications, supported by significant R&D and high adoption of EVs and renewable energy systems. Europe benefits from stringent energy efficiency regulations and expanding EV infrastructure, driving demand for high-performance converters. Asia Pacific dominates in volume due to consumer electronics, telecom, and industrial manufacturing hubs, especially in China, Japan, and India. Latin America and Middle East & Africa are emerging markets, with growth fueled by industrial automation, railways, and renewable energy projects, highlighting increasing infrastructure investments and urbanization trends.
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By input voltage, 1–5–36 V DC-DC converters are becoming more popular
The 5–36 V segment growth is mainly a result of the need for small, high-performance converters in the consumer electronics and industrial control systems areas. In these kinds of systems, there is usually little space available on the board, and the thermal budgets are generally quite restrictive. The companies that are leading the market are coming up with new ideas and concepts to achieve higher power density and better heat dissipation. In this respect, for instance, RECOM Power GmbH made an announcement in February 2024 about its new ultra-compact SMT QFN package DC-DC modules which, in effect, set a new benchmark not only in terms of size but also cost effectiveness and efficiency.
The DC-DC converter market dynamics and trends indicate that the 36–75 v segment is becoming increasingly popular as telecom, data center, and POE architectures shift to 48 v-centric power delivery networks, driving the need for reliable mid-voltage regulation and modular scalability. To address these challenges, manufacturers are introducing densified regulated solutions. For instance, Vicor corporation unveiled its dcm™ family of regulated 48 v→12 v dc-dc converters in March 2025, covering 750 w to 2 kw and simplifying the transition to 48 v systems.
By output voltage, 3.3V segment show consistent progress
3.3 V output segment is quickly evolving, as it is largely influenced by the growth in IoT devices, wearable electronics, and high-density board designs that must be supplied with compact and energy-efficient converters. To meet these market demands, suppliers are also eager to improve the form factor and the product's thermal performance. A good example is Murata Manufacturing Co., Ltd. that introduced its PE24110 step-down DC-DC converter in July 2024, which supports a 3.0 3.45 V input and delivers high current in an ultra-low-height package, thus mirroring increasing miniaturization and power density requirements.
The 12 V output band has been, and still is, the backbone of the automotive, telecom, and industrial power infrastructures, where stable mid-voltage supplies must not only be efficient but also meet strict reliability and thermal criteria. Various market participants in the DC-DC converter market are now engaged in enhancing or expanding their modular, high-density product portfolios to cater to such challenging, high-demand environments. As a case in point, TDK Corporation made public its FS160 series microPOL DC-DC modules in March 2025, offering I²C telemetry and facilitating output voltages from “0.6 V to 5.0 V,” illustrating how high-efficiency, small-footprint modules can serve as a stepping stone for the 12 V of next-generation telecom and data center systems.
By mounting style, surface mount DC-DC converters are picking up pace
The surface-mount segment is evolving at a very high speed, as the need for small, automated-assembly- friendly DC-DC converters in consumer electronics, telecom, and automotive sectors is growing. Manufacturers are going to great lengths to combine ultra-small footprints and high efficiency to satisfy the thermal and board space requirements. One good example is a Murata Manufacturing Co., Ltd. SMT packaged isolated DC-DC converters, which the company announced in April 2025. The products are communication and interface modules-oriented, illustrating the surface mount module domain miniaturization.
The through-hole part of the market is still the main source of the industrial, aerospace, and rugged environments, where mechanical robustness and thermal management are of paramount importance, respectively. The leading companies are re-inventing the old form factors, with more power and a wider range of applications. Thus, in April 2023 TDK Corporation revealed its CCG series extension to include through holes and surface mount isolated DC-DC converters at 6 W and 10 W levels, indicating their mixture mounting style demand commitment vendors.
By application, EV Battery has surged the product demand
The EV battery applications are significantly contributing to the revenue growth in the DC-DC converter market, leading in a rapid rise in demand due to the worldwide move to electric mobility, which calls for high-power, wide-input DC-DC converters to ensure efficient energy management. Without delay, the market players are innovating with liquid-cooled and high-efficiency modules to satisfy vehicle auxiliary system and battery pack needs. In the same vein as the industry trend, in February 2024, Delta Electronics released its 48V–12V 5 kW DC-DC converters, which are the first choice for electric buses and commercial EVs.
The medical equipment-related demand for DC-DC converters, reliable oriented isolation, safety and regulatory standards are strict, is a major market driver. Manufacturers are emphasizing low noise, compact, and thermally efficient designs for patient monitoring systems, imaging devices, and diagnostic equipment. E.g., CUI Inc. came up with a PTP15 Series 15 W isolated medical instrumentation application targeted DC-DC converters in Sept 2023, highlighting the safety and compliance focus in the medical field.
By Region, North America leads the market growth
The North America DC-DC converter market is still a hotspot of growth because of the area electrification of the automotive industry, aerospace systems, and high-end industrial applications. Local companies are investing in innovative manufacturing and modular power solutions to keep up with the demand. Vicor Corporation, for example, in May 2022, was very excited to announce the grand opening of the new fabrication facility covering an area of 90,000 square feet in Andover, Massachusetts, dedicated to the production of high-density power modules and to demonstrate its commitment to U.S. based innovation and scale up.
Europe is witnessing significant growth, which is mainly caused by regulatory requirements pushing for energy efficiency, growing EV infrastructure, and industry automation. To meet strict regional standards and be prepared for the future, players are offering high-performance, low-loss converters. Infineon Technologies AG, for example, in June 2024, introduced its new CoolGaN™ product families, which include devices for consumer and industrial power conversion markets only - thus pointing to the region as an advanced power supply semiconductor source of innovation.
| CAGR 2026-2035 - Market by | Country |
| India | 11.8% |
| Canada | 10.9% |
| China | 10.8% |
| Mexico | 10.6% |
| UK | 10.5% |
| USA | XX% |
| Germany | 9.9% |
| France | XX% |
| Italy | XX% |
| Japan | XX% |
| Australia | XX% |
Leading DC-DC converter market players enhance the power density, thermal efficiency, and compactness of their products to keep up with the increased demand for the DC-DC converters. The major areas of application are automotive, industrial, and consumer electronics. The approaches to innovation from the companies such as Murata Manufacturing and Vicor Corporation include launching miniaturized, high-efficiency modules with advanced thermal management and isolated designs. The innovations enable the issue of space-constrained designs to be addressed, the reliability to be improved, and high-performance to be supported across various sectors.
Notable DC-DC converter companies must keep up competition by heavily investing in research and development and regional production facilities and simultaneously expanding modular product portfolios. The main focus of Infineon Technologies and Texas Instruments is on GaN-based and high-voltage DC-DC converters, through which they offer energy-efficient, scalable solutions. The formation of strategic partnerships and the local production of goods strengthen the reliability of the supply chain, boosting the DC-DC converter market revenue.
Texas Instruments Inc. - a worldwide leader in a semiconductor design and manufacturing is a company founded in 1930 and headquartered in Dallas, Texas, USA. Today, the giant in digital and analog processing has consequentially transformed itself into a technology-driven provider of power management integrated circuits, thus enabling it to dominate the next-generation power solution markets.
Murata Manufacturing Co., Ltd. was founded in 1944, and its head office is located in Kyoto, Japan. The company mainly focuses on the research and design of the newest trend electronics components and modules. By virtue of its ultra-modern breakthroughs, Murata is able to produce compact standard products, especially in the domain of reliable and miniature-sized applications, in the telecommunication, healthcare, and automotive industries, strengthening its position in the global DC-DC converter market landscape.
General Electric Company known as GE, initially opened doors in 1892 is a multi-diversified industrial leader with its head office in Boston, Massachusetts, USA. GE Power Electronics division through its innovations provides solutions in the fabrication of energy-efficient DC-DC converters and complete power management systems to the areas of renewable energy, aviation, and industrial automation markets globally.
RECOM Power GmbH a company making a leading technology in DC-DC and AC-DC converters, switching regulators, and LED drivers was formed in 1974, and its head office is in Gmunden, Austria. They are medical, industrial, and IoT application-winning energy-efficient power conversion solutions providers who uphold high standards of innovation and customer loyalty through reliable quality.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Explore the latest trends shaping the Global DC-DC Converter Market 2026-2035 with our in-depth report. Gain strategic insights, future forecasts, and key market developments that can help you stay competitive. Download a free sample report or contact our team for customized consultation on Global DC-DC converter market trends 2026.
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In 2025, the Global DC-DC converter market reached an approximate value of USD 14.90 Billion.
The market is projected to grow at a CAGR of 10.50% between 2026 and 2035.
The market is estimated to witness healthy growth in the forecast period of 2026-2035 to reach USD 40.44 Billion by 2035.
Key strategies driving the market include the adoption of GaN and SiC technologies for higher efficiency and power density, product miniaturization to meet space-constrained applications, expansion of modular and high-voltage DC-DC portfolios, strategic partnerships and collaborations for local manufacturing, and investments in R&D and regional production facilities to support EVs, renewable energy, and industrial automation sectors.
The key trends guiding the market include the increasing use of DC-DC converters in electric aircraft, the growing incorporation of new power-saving modes in DC-DC converters, and the rising use of thick film DC-DC converters in space applications.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
5-36V, 36-75V, and 75V and above are the different input voltages based on which the market is segmented.
3.3V, 5V, 12V, and 15V and above are the various output voltages considered in the market report.
The major mounting styles of DC-DC converter considered in the market report include surface mount and through hole.
Smartphone, servers PCs, EV battery, railways, and medical equipment are the significant applications of DC-DC converter in the market.
The key players in the market include Texas Instruments Inc., Murata Manufacturing Co., Ltd., General Electric Company, and RECOM Power GmbH, all of which are actively developing innovative, high-efficiency power conversion solutions.
North America holds the largest share of the DC-DC converter market, driven by advanced automotive, aerospace, and industrial applications, high EV adoption, and significant R&D and manufacturing investments.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Input Voltage |
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| Breakup by Output Voltage |
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| Breakup by Mounting Style |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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