Global Converter Modules Market Growing Rapidly at a CAGR of 7.2% by 2031
Category : Semiconductor And Electronics | Published Date : Jun 2024 | Type : Press Release
Converter Modules Market Scope & Overview :
Converter Modules are electrical devices that convert electricity from one form to another and are a primary component of electronic devices. They allow current supply with accurate voltage to a broad range of loads.
Consegic Business Intelligence analyzes that the Global Converter Modules Market size was valued at USD 10,366.84 Million in 2022, projected to grow by USD 10,774.78 Million in 2023, and is expected to register a CAGR of 7.2% to reach USD 17,508.34 Million by 2031.
This report comprises Converter Modules Market Share, Size & Industry Analysis, By Type (DC-DC Converter Module, DC-AC Converter Module, and AC-DC Converter Module), By End-User(IT & Telecommunication, Healthcare, Transportation, Aerospace & Defense, and Others), By Region(North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa), and Forecast, 2023-2031.
This report contains detailed information on Converter Modules Market Opportunities, Trends, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
As per the report analysis, the utilization of converter modules in IT and telecommunications, aerospace and defense, and automotive industries is driving the market growth. Electric vehicles use converter modules in automotive industries to power different systems by providing precise voltages.
Segmental Analysis :
The Converter Modules Market is segmented into three major segments based on type, end-user, and region.
Based on type, the market is trifurcated into DC-DC Converter Module, DC-AC Converter Module, and AC-DC Converter Module.
- In 2022, the DC-DC converter module segment contributed 46.01% of the total revenue as it offers several advantages like reliable voltage regulation, reduced noise loops, safer operation, and flexibility in voltage rails configuration.
- During the forecasted period, the AC-DC converter module segment is anticipated to witness the fastest CAGR due to advantages like high energy efficiency, ease of installation, lightweight, compact size, and cost-effectiveness.
Based on end-users, the market is categorized into IT & telecommunication, healthcare, transportation, aerospace & defense, and others.
- The IT and telecommunications segments held the largest market share in 2022, due to the expansion of data centers, communications, and cloud services.
- The aerospace and defense segment is expected to register the fastest CAGR from 2023 to 2031 as modules are used for power distribution, power system performance, and connectivity from multiple unregulated power sources to the point of load.
By region, the market is segregated into regions including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- In 2022, the Asia-Pacific region accounted for the largest revenue share of USD 3,980.87 and is expected to grow at a CAGR of 6.1% from 2023 to 2031. The ever-increasing IT & telecommunications industry in this region accounts for this growth.
- During the forecasted period, Europe is anticipated to register a CAGR of 6.3% due to expanding industrialization in this region.
| Report Attributes | Report Details |
| By Type | DC-DC Converter Module, DC-AC Converter Module, and AC-DC Converter Module |
| By End-User | IT & Telecommunication, Healthcare, Transportation, Aerospace & Defense, and Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. Additionally, this report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Converter Modules Industry :
- Delta Electronics Inc.
- STMicroelectronics
- Renesas Electronics Corporation
- Texas Instruments Incorporated
- ABB Ltd.
- Flex Ltd.
- Murata Manufacturing Co. Ltd
- RECOM Power GmbH
- TDK Corporation
- Vicor Corporation
Recent Industry Developments :
- In March 2022, TDK Corporation launched its new series of μPOL DC-DC converter modules integrated with the smallest available size, ease of utilization, increased performance, and simplified integration.
