Global Converter Modules Market growing at a CAGR of 7.2% from 2023 to 2031
Category : Semiconductor And Electronics | Published Date : Oct 2023
Key Market Overview
The Global Converter Modules Market 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 compound annual growth rate of 7.2% to reach USD 17,508.34 Million in 2031.
The report highlights the increasing adoption of converter modules in IT & telecommunication, aerospace & defence, automotive, and other industries. Consegic Business Intelligence provides an inclusive research report on the converter modules market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global Converter Modules Market By Overview
The report analyses significant segments such as type, end-user, and region, to identify emerging trends and potential opportunities. The type segment is expected to grow due to the increasing adoption of DC-DC converter modules in IT & telecommunication, aerospace & defence, automotive, healthcare, and other sectors. Moreover, the rising deployment of AC-DC converter modules in military, medical, and telecommunication equipment among others is expected to drive the market growth during the forecast period.
Get Free SampleMarket Dynamics
Driver:
- Rising utilization of converter modules in IT & telecommunication industry is driving the market growth.
- Growing aerospace & defence sector is spurring the market growth.
Restraints:
- Prevalence of stringent regulations associated with converter modules is restraining the market growth.
Market Segmentation:
| 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 & Defence, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The global converter modules market is highly competitive due to the presence of major players such as Delta Electronics Inc., STMicroelectronics, Renesas Electronics Corporation, Texas Instruments Incorporated, ABB Ltd., and others operating in the global market. The market players are adopting new ways through product innovations, mergers and acquisitions, and business strategies to remain hold strong market position. Thus, evolving research and developments in converter modules market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various industries.
- 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