Market Overview
The global converter modules market is expected to exhibit a strong 7% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The global converter modules market was valued at more than USD 8 billion in 2018 and is expected to reach a valuation of close to USD 13 billion by 2025, according to the report. The major drivers and restraints affecting the global converter modules market are examined in detail in the report. Thus, the report provides readers with a complete overview of the growth trajectory of the global converter modules market. Major factors and trends operating in the global converter modules market are examined in the report to give readers an accurate overview of the market’s growth trajectory. Major players in the global converter modules market are also examined in the report to provide readers with an accurate overview of the competitive landscape of the market. The report also examines the impact of the COVID-19 pandemic on the global converter modules market.
Converter modules are devices that are used to convert analog signals to digital signals and vice versa for high-voltage applications. Rising demand for SMPS in data centers and a shift towards battery-powered automobiles have contributed to the growth of the global converter modules market. In addition to this, the application of these modules can be observed in different industry verticals, including industrial, healthcare, logistics, and defense. Thus, the market for converter modules is expected to witness steady growth during the forecast period. Converter modules are used in power components for either stepping up or stepping down the voltage for various security, surveillance, and communication applications. A DC-DC converter module is preferred due to its features of low power consumption, high power density, accuracy, reliability, and robustness. It also phases out ground loops and therefore isolates the circuit from interferences caused by other circuits. The source required for this type of power module must provide low noise and ripple to generate accurate results.
As per MRFR’s analysis, there are several factors that affect the growth of the global converter modules market. The increasing demand for advanced power saving solutions and rapid developments in digital power management and control technologies have further propelled the growth of the global converter modules market. In addition to this, the developments in advanced driver assistance system (ADAS) technology, vehicle-to-anything (V2X) communication modules, body electronics, and LED lighting have created opportunities for manufacturers to develop highly efficient converter modules. However, in a no-load state, these modules do not switch off automatically, thereby reducing the efficiency of systems. This acts as a significant challenge for the manufacturers of converter modules.
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Competitive Leaderboard:
Leading players in the global converter modules market include MORNSUN Guangzhou Science & Technology Co. Ltd., SynQor Inc., Vicor Corporation, Omron Corporation, Sumida Corporation, Wurth Elektronik GmbH & Co. KG, Tamura Corporation, TDK Corporation, Fujitsu, RECOM Power GmbH, Murata Manufacturing Co. Ltd., Advantech Co. Ltd., Flex Ltd., Mitsubishi Electric Corporation, ABB Ltd., Texas Instruments Inc., Renesas Electronics Corporation, STMicroelectronics, ROHM Semiconductor, and Delta Electronics Inc.
In June 2019, Vicor Corporation launched its bus converter module (BCM), the BCM4414 800V, which can operate between input voltages from 500V to 800V. The BCM is isolated by 1.6 kW, 1/16 fixed ratio and provides safety extra low voltage (SELV) output voltages with a peak efficiency of 97%.
Segmentation:
The global converter modules market is segmented on the basis of type, application, and region.
By type, the global converter modules market is segmented into DC-DC converter modules, DC-AC converter modules, and AC-DC converter modules.
By application, the global converter modules market is segmented into IT and telecom, industrial, healthcare, transportation and logistics, aerospace and defense, and others.
Regional Analysis:
Asia Pacific is likely to dominate the global converter modules market over the forecast period due to the growing number of electrical equipment manufacturers in the region.
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About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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