Global Converter Modules Market Research Report: By type (DC-DC Converter Module, DC-AC Converter Module, AC-DC Converter Module), by Application (IT & Telecommunication, Industrial, Healthcare, Transportation & Logistics, Aerospace & Defense, and Others), by Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Central & South America) — Forecast till 2025
Converter modules allow components to work in high-power situations without using an external source. This helps manufacturers reduce costs of the board and simplify the circuit design, resulting in the elimination of ground loop and interferences occurring from other circuits. Component manufacturers are focusing on designing isolated converter modules that comply with stringent medical safety standards to extend their reach in the healthcare equipment industry. Moreover, the market has witnessed a significant shift towards battery-powered automobile, therefore, encouraging the component manufacturers to develop converter modules complementing the needs of the automotive industry.
The key players in the converter modules market are identified across all the major regions based on their country of origin, geographic presence, recent key developments, product diversification, and industry expertise. Some of them are Murata Manufacturing Co., Ltd (Japan), RECOM Power GmbH (Austria), FUJITSU (Japan), ROHM Semiconductor (Japan), STMicroelectronics (Switzerland), Renesas Electronics Corporation (Japan), Texas Instruments Incorporated (US), ABB Ltd (Switzerland), Mitsubishi Electric Corporation (Japan), Delta Electronics, Inc. (Taiwan), Flex Ltd. (US), Advantech Co., Ltd (Taiwan), Würth Elektronik GmbH & Co. KG (Germany), Vicor Corporation (US), SynQor, Inc. (US), SUMIDA CORPORATION (Japan), OMRON Corporation (Japan), MORNSUN Guangzhou Science & Technology Co.,Ltd (China), TDK Corporation (Japan), and TAMURA Corporation (Japan). The companies are focused on upgrading and enhancing their existing product portfolios as well as innovating products by investing in research and development by analyzing the changing market trends.
As per the study conducted by MRFR, the global converter modules market has been segmented on the basis of type and application. On the basis of type, the DC-DC converter module segment is estimated to dominate the growth of global market during the forecast period. Also, based on the applications, the industrial segment is estimated to witness a significant growth during the forecast period 2019–2025.
The market for converter modules is estimated to witness swift growth during the forecast period from 2019 to 2025. The geographic analysis of converter modules market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East & Africa, and South America). According to MRFR analysis, the market in Asia-Pacific is expected to contribute the highest share to the global converter modules market during the forecast period. China, Japan, and Taiwan are among the major manufacturers of converter modules, thereby contributing to the growth of the market in Asia-Pacific.
On the other hand, the North American market is expected to register the highest CAGR during the forecast period 2019–2025. The demand for high-power operations in the industrial and defense industry verticals has encouraged the local manufacturers in this region to enter the converter modules market and fuel the growth of the North American market.