EV DC-DC Converter Market is Forecasted to Reach US$10.2 Billion in 2031, Says Stratview Research

Detroit, Sept. 02, 2025 (GLOBE NEWSWIRE) -- The global EV DC-DC Converter Market size was valued at US$4.9 billion in 2024 and is projected to reach US$10.2 billion by 2031, witnessing a market growth CAGR of 10.2% from 2024 to 2031, according to an analysis by Stratview Research.

Stratview Research, a global market research firm, has launched a report on the global EV DC-DC Converter Market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:

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Market Statistics

Segment Insights & Market Share Analysis of the EV DC-DC Converter Market:

The global EV DC-DC Converter Market is segmented based on Topology type, Propulsion type, Vehicle type, Power Rating type, and region.

Based on Topology Type

• There are two topology types in DC-DC converters: isolated DC-DC converters and non-isolated DC-DC converters.
• Isolated DC-DC converters are likely to remain dominant and a faster-growing topology type during the forecast period.
• Isolated DC-DC converters, owing to their enhanced safety and reliable performance, are projected to remain the dominant topology in the EV DC-DC converter market over the coming years.
• By providing galvanic isolation between the high-voltage battery and low-voltage systems, isolated DC-DC converters ensure the protection of sensitive electronic components and enhance passenger safety—a critical requirement in modern electric vehicles, particularly in high-voltage and commercial platforms.
• With the increasing shift toward 400V and 800V EV architectures, the demand for isolated DC-DC converters is growing.
• These systems not only enable effective power management across various subsystems but also play a key role in preventing electrical faults.
• Their ability to support complex features like ADAS and infotainment with stable, interference-free power delivery makes them the preferred choice across multiple EV segments.

Based on Propulsion Type

• There are two propulsion types in DC-DC converters, BEV and HEV.  
• HEV holds the largest share of the market, whereas BEV is likely to experience the fastest growth in the coming years.
• HEVs have a larger installed base and widespread adoption, especially in markets where full EV infrastructure is still developing.
• They require continuous and efficient power conversion between high-voltage and low-voltage systems to support auxiliary loads during frequent engine start-stop cycles and regenerative braking.
• Additionally, the higher sales volume of HEVs globally, mainly in regions like India, China, and Japan, pushes their leading position in the current EV DC-DC converter market.
• BEVs (battery electric vehicles) are the fastest-growing propulsion type in the market, majorly driven by the global shift toward fully electric transportation.
• This trend is fueled by stringent emissions regulations, government incentives, and rising environmental awareness.
• The demand for highly reliable and efficient DC-DC converters continues to accelerate in line with the growing adoption of BEVs.

Based on Vehicle Type

• The market is segmented into LV and M&HCV.
•  LV is projected to remain the dominant and fastest-growing vehicle type of the EV DC-DC converter market in the coming years.
• Representing the largest share of global electric vehicle sales, LV includes passenger cars and compact EVs, which are central to everyday urban mobility.
• These vehicles require reliable and efficient DC-DC converters to support essential low-voltage systems such as lighting, infotainment, and safety electronics, making them a critical application area for converter technologies.
• As more people look for affordable, efficient, and eco-friendly transportation, light-duty vehicles (LVs) are expected to drive strong growth in the EV DC-DC converter market. The growing EV charging network and supportive government policies are also helping more people choose electric LVs, making them the most common type of EV on the road.

Based on Power Rating Type

• There are three power rating types in DC-DC converters: < 3kW, 3kW to 5kW, and > 5kW.
• 5kW is expected to remain the dominant power rating type of the market during the forecast period.
• 5 kW power converters are critical for larger battery-powered vehicles such as battery electric vehicles (BEVs) and commercial electronics vehicles, which need effective and reliable power management to power up multiple high-power subsystems.
• These converters are essential in delivering power from the main battery across to several auxiliary systems, such as HVAC, infotainment, and the charging system.
• The increasing trend in the need for longer-range EVs, combined with development in battery technology, creates a need for high-power DC-DC converters to support optimum performance and increased charging times.

To know the most attractive segments, click here for a free sample of the report:

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that the Asia-Pacific is expected to remain the largest market for EV DC-DC converters during the forecast period. This growth outlook is majorly attributed to the following–

• This is mainly attributed to the higher adoption of electric vehicles in key countries, such as China, India, Japan, and South Korea, where passionate government policies, incentives, and investments are catalyzing the transformation to electric mobility.
• The area also has some of the biggest EV manufacturers and a tried and tested supply chain of EV components: power electronics such as DC-DC converters.
• Furthermore, Asia-Pacific is the epicenter of technological innovations as well as a manufacturer and hence an important player in the development and manufacture of high-efficiency power conversion systems.

EV DC-DC Converter Market Drivers:

Some of the key drivers listed in the report are given below.

• Rising global adoption of electric vehicles (EVs), driven by strict environmental regulations and government incentives.
• Increasing vehicle electrical complexity with multiple ECUs, infotainment, safety systems, and ADAS, all of which require stable low-voltage DC power.
• The trend toward high-voltage (800V) EV architectures for fast charging requires more advanced DC-DC converters.
• Increasing demand for high power density, compactness, and thermal efficiency to optimize space and performance.
• Growing demand for bidirectional power flow applications like vehicle-to-grid (V2G) and vehicle-to-home (V2H) is encouraging the development of bidirectional DC-DC converters that can manage power flow in both directions.
• Rising adoption of integrated DC-DC converter solutions to reduce the number of components, weight, and overall cost, further driving market innovations.

Competitive Landscape: Top Companies in the EV DC-DC Converter Market:

Stratview Research has identified the following companies as the top market players:

• Valeo
• BorgWarner Inc.
• BYD Auto Co., Ltd.
• Robert Bosch GmbH
• Tesla, Inc.
• Toyota Industries Corporation

What Deliverables Will You Get in this Report?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:

• EV High-Voltage Box Market

• EV High-Voltage Heaters Market

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Stratview Research is a global market research and consulting firm that highly specializes in IT & Telecom, aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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