Global Buck Converters Market Size By Type (Minelab, Bounty Hunter), By Application (Communication, Server), By Region, And Segment Forecasts, 2023 to 2032

The Global Buck Converters Market was valued at USD 5.6 billion in 2023 and is projected to reach USD 10.4 billion by 2031, growing at a CAGR of 7.8% from 2023 to 2031. The increasing demand for energy-efficient power solutions across industries, particularly in consumer electronics and automotive sectors, is propelling the growth of the market. Buck converters, which efficiently step down voltage to meet the requirements of various applications, are integral in supporting advancements in portable devices, electric vehicles, and renewable energy systems.

Drivers

Growing Adoption of Energy-Efficient Solutions: The demand for energy-efficient power management solutions is rising, driven by sustainability goals and regulatory standards. Buck converters play a vital role in reducing power consumption across a range of applications, fostering market growth.

Increasing Penetration of Consumer Electronics: The proliferation of electronic devices such as smartphones, tablets, and laptops is driving demand for buck converters, as these devices require efficient and compact power management solutions.

Growth in Automotive Electronics: With the shift towards electric vehicles (EVs) and advanced driver-assistance systems (ADAS), the automotive sector increasingly incorporates buck converters to support diverse electronic components, further driving market expansion.

Restraints

Design Complexity and Cost Constraints: The need for high-efficiency and compact buck converters can lead to complex design challenges and increased production costs, which may limit adoption, especially among cost-sensitive applications.

Thermal Management Challenges: Buck converters, particularly those used in high-power applications, face issues with heat dissipation, which can affect performance and longevity.

Opportunity

Expansion of Renewable Energy Systems: The rising adoption of solar and wind energy systems requires efficient DC-DC converters, creating substantial opportunities for buck converters in power distribution within renewable installations.

Growth in Industrial Automation: The increasing focus on automation in industries demands precise power management solutions for sensors, controllers, and other devices, positioning buck converters as crucial components in modern manufacturing facilities.

Market by System Type Insights

The Non-Isolated Buck Converters segment held the largest share in 2023 due to its cost-effectiveness and efficiency in low- to medium-power applications, such as portable electronics and automotive systems. The Isolated Buck Converters segment, however, is expected to witness significant growth owing to its use in high-power industrial and energy applications where safety and noise reduction are critical.

Market by End-use Insights

In terms of end-use, the Consumer Electronics segment dominated the market in 2023, driven by the high demand for power-efficient devices. The Automotive sector is projected to grow rapidly during the forecast period due to the increasing adoption of electric vehicles and advanced automotive systems, which require efficient power management.

Market by Regional Insights

Asia-Pacific led the market in 2023, attributed to the presence of major electronics manufacturers and the high demand for consumer electronics and electric vehicles. North America is anticipated to witness significant growth during the forecast period, supported by advancements in automotive technologies and the growing adoption of renewable energy systems.

Competitive Scenario

Key players in the Global Buck Converters Market include Texas Instruments Inc., Analog Devices Inc., Infineon Technologies AG, ON Semiconductor, Maxim Integrated, ROHM Semiconductor, STMicroelectronics, and Vicor Corporation. These companies focus on product innovation, partnerships, and geographic expansion to strengthen their market position. For instance:

In 2023, Texas Instruments launched a new line of buck converters designed for automotive applications, featuring advanced thermal management and compact designs.

Infineon Technologies introduced a high-efficiency buck converter series tailored for industrial automation applications in 2022.

Scope of Work – Global Buck Converters Market

Key Market Developments

January 2023: ROHM Semiconductor expanded its portfolio of automotive-grade buck converters to meet the increasing demand for EV applications, enhancing performance in temperature-sensitive environments.

March 2022: Maxim Integrated launched an ultra-low power buck converter for wearable devices, targeting the consumer electronics market with a focus on battery life extension.

August 2021: ON Semiconductor partnered with a major EV manufacturer to integrate its high-efficiency buck converters into their next-generation electric vehicles, emphasizing compact design and thermal efficiency.

FAQs

What is the current market size of the Global Buck Converters Market?

The Global Buck Converters Market was valued at USD 5.6 billion in 2023.

What is the major growth driver of the Global Buck Converters Market?

The major growth driver is the rising demand for energy-efficient solutions across consumer electronics, automotive, and renewable energy sectors.

Which is the largest region during the forecast period in the Global Buck Converters Market?

Asia-Pacific is expected to remain the largest region due to high demand in consumer electronics and automotive applications.

Which segment accounted for the largest market share in the Global Buck Converters Market?

The Consumer Electronics segment held the largest market share in 2023, driven by the need for efficient power management solutions.

Who are the key market players in the Global Buck Converters Market?

Key players include Texas Instruments Inc., Analog Devices Inc., Infineon Technologies AG, ON Semiconductor, Maxim Integrated, and ROHM Semiconductor.