AC-DC Converters Market Report

With the growing environmental concerns, most governments and manufacturers are making efforts to reduce their carbon footprint. As a result, there has been a significant surge in demand for electric vehicles, which is one of the major driving factors for the AC-DC converter market. According to the International Energy Agency, the sales of electric cars have experienced exponential growth as car sales exceeded 10 million in 2022. As the use of electric vehicles grows, so does the demand for electric vehicle charging infrastructure. The growing demand can be attributed to the use of AC-DC converters in charging stations for the conversion of AC power from the grid to DC power required by EV batteries. Apart from these, the rising adoption of renewable energy sources including solar energy and wind energy is also contributing towards the expansion of the AC-DC converter market during the forecast period. The integration of these renewable energy sources for power generation for electric vehicle charging stations is further driving the demand for AC-DC converters in the market.

Increasing adoption of electronic devices across various industries such as automotive, telecommunications, consumer electronics etc. is driving the AC-DC converter market growth over the forecast period. In addition, the rising automation in the industrial processes is also driving the demand for AC-DC converter. Moreover, the rising need for energy-efficient devices for industrial automation has led to an increase in the adoption of AC-DC converters. Along with this, the increase in data centers and cloud computing facilities is boosting the sales of AC-DC converters as these facilities require a continuous and efficient power supply. Furthermore, with the growing trend of miniaturization, small and compact electric devices such as smartphones and laptops are gaining more recognition. Governments are also focusing on the adoption of energy-efficient electric devices by enforcing regulatory standards and policies, thus boosting the expansion of the AC-DC converter market.

• Achieving high power density by reducing converter size and enhancing output capacity.
• Incorporating DSPs (Digital Signal Processors) and microcontrollers for precise regulation and monitoring.
• Utilizing LLC and ZVS (Zero-Voltage-Switching) topologies for reduced losses and EMI.
• Adapting converters for efficient wireless charging applications with WPT (Wireless Power Transfer).
• Offering standardized modules for easy customization and scalable designs.

The AC-DC converter market is exposed to various factors that are likely to impede the AC-DC converter market expansion. For instance, the high costs associated with AC-DC converters owing to their high-power rating and advanced features result in a decline in demand for these converters. In addition, the development of energy-efficient AC-DC converters while also minimizing energy losses during conversion can be a challenge. Furthermore, the maintenance of these converters to ensure that they remain operational with minimal downtime also creates a challenge for the manufacturers. All these factors are likely to have a negative impact on the adoption of AC-DC converters in the market over the forecast period.

Major market participants in the AC-DC converter market are emphasizing research and development to create products that align with customer demand. They are also implementing various market strategies such as new product launches, partnerships, and acquisitions to strengthen their market position. In March 2023, Advanced Energy Industries Inc., a global provider of highly designed, precision power conversion, measurement, and control solutions, added a 48 V module to its ArtesynTM AIF family of intelligent, integrated, and programmable full-brick AC-DC converters. In April 2022, Aimtec launched its Eagle line of enclosed AC-DC converters. The Eagle series includes a power range of 15W to 350W with output voltages of 3.3V, 5V, 12V, 15V, 24V, 36V, and 48 VDC. Again, in January 2022, Traco Power announced the release of two new high-efficiency, miniaturized AC/DC power supplies: the TPP 180 series for medical and industrial applications and the TPI 180 series for industrial applications.

Asia Pacific is anticipated to hold a significant share of the AC-DC converter market owing to the rising demand for electronic devices such as smartphones and laptops. In addition, the increasing popularity of electric vehicles in the region is also fuelling the demand for AC-DC converters. On the other hand, North America is also likely to experience growth in the AC-DC converter market. This growth can be attributed to the well-established semiconductor industry, technological advancements, and the adoption of renewable energy sources in the region.  Furthermore, Europe is expected to witness substantial growth in the AC-DC converter market due to the increasing adoption of electric vehicles in the region. Governments in this region are focusing on achieving carbon neutrality which is driving the electrical vehicle market. This increases the demand for AC-DC converters thus propelling the market expansion during the forecast period.

The report provides a detailed overview of the AC-DC converters market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for the AC-DC converters market has been offered for all regional market shares, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the AC-DC converters market. These Y-o-Y projections on regional and country-level markets brighten the political, economic, and business environment outlook, which are anticipated to have a substantial impact on the growth of the AC-DC converters market. Some key countries and regions included in the AC-DC converters market report are as follows:

• AC-DC converter market detailed segments and segment-wise market breakdown
• AC-DC converter market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in AC-DC converter industry)
• Current, historical, and forthcoming 10 years market valuation in terms of AC-DC converter market size (US$ Mn), volume (Units), share (%), Y-o-Y growth rate, CAGR (%) analysis
• AC-DC converter market demand analysis
• AC-DC converter market pricing analysis over the forecast period (by key segment and by region)
• AC-DC converter market regional insights with the region-wise market breakdown
• Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
• Latest developments and innovations in the AC-DC converter market
• Regulatory landscape by key regions and key countries
• Supply chain and value chain analysis in the AC-DC converter market
• AC-DC converter market sales and distribution strategies
• A comprehensive overview of the parent market
• A detailed viewpoint on AC-DC converter market forecast by countries
• Mergers and acquisitions in the AC-DC converter market
• Essential information to enhance market position
• Robust research methodology