iCrowdNewswire Dec 31, 2020 5:00 AM ET
Market Research Future (MRFR), highlights that the Global Converter Modules Market Driven by the growing disruption caused by COVID 19. Market Expected to Grow Exponentially, Securing a Significant Market Valuation at a Decent CAGR 7%
The global converter modules market size was assessed at USD 8.04 billion in 2018 and is expected to touch USD 12.9 billion by the end of the forecast period with a CAGR of 7%.
According to the MRFR report, there are several factors which affect the growth of the global converter modules market. The growing demand for advanced power-saving solutions and rapid developments in digital power management and control technologies has further propelled the growth of the global market for converter modules. Additionally, the advances in advanced driver assistance system (ADAS) technology, vehicle to all (V2X) communication module, body electronics, and LED lighting have created opportunities for manufacturers to develop highly efficient converter modules.
Growing requirement for reliable power supply units for use in out-patient care equipment and rising demand for energy-efficient devices/appliances across the global are also projected to impelling the market growth in the forecast period. Increasing demand for SMPS in data centers and a shift to battery-powered automobiles have contributed to the growth of the global market for converter modules. In addition, the applications of these modules can be observed in various vertical industries, including industrial, healthcare, logistics, and defence. Thus, the converter modules market is expected to witness steady growth over the forecast period. However, these modules do not automatically switch off in a no-load state, thus reducing the system efficiency.
The global converter modules market has been analyzed on the basis of application, type, and region.
- By type, the global converter modules market has been bifurcated into DC-AC converter module, DC-DC converter module, as well as AC-DC converter module.
- Based on the application, the global converter modules market has been divided into IT & telecommunication, healthcare, industrial, aerospace & defense, transportation & logistics, and others.
MRFR has acknowledged a few companies as prominent players in the global converter modules market. These include ROHM Semiconductor (Japan), Delta Electronics, Inc. (Taiwan), STMicroelectronics (Switzerland), Texas Instruments Incorporated (US), Renesas Electronics Corporation (Japan), ABB Ltd (Switzerland), Flex Ltd. (US), Mitsubishi Electric Corporation (Japan),Advantech Co., Ltd (Taiwan), RECOM Power GmbH (Austria), Murata Manufacturing Co., Ltd (Japan), FUJITSU (Japan), TAMURA Corporation (Japan), TDK Corporation (Japan), and Würth Elektronik GmbH & Co. KG (Germany). Based on their geographical presence, origin, product portfolio, key developments, and expertise in the development of converter modules, these companies are analysed.
It is estimated that the global market for converter modules will grow at a staggering rate over the 2019-2025 forecast period. For Asia-Pacific, North America, Europe , the Middle East & Africa and Central & South America, the geographic analysis of the converter modules market has been carried out.
As per the MRFR report, it is projected that Asia-Pacific dominates the global converter modules market followed by North America and Europe. In the Asia-Pacific region the demand for converter modules is attributed to the high concentration of manufacturers of electric components. China, Japan and Taiwan are the major contributors to the growth of the market for converter modules in Asia-Pacific. In those countries, low labor costs have favored the production of converter modules in this region.
Get More Information: https://www.marketresearchfuture.com/reports/converter-modules-market-8164
TABLE OF CONTENTS:
- Market Introduction
- Research Methodology
- Market Dynamics
- Executive Summary
- Market Factor Analysis
- Converter Modules Market, By Segments
- Competitive Analysis
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