The global converter modules market is expected to exhibit a strong 7% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The global converter modules market was valued at more than USD 8 billion in 2018 and is expected to reach a valuation of close to USD 13 billion by 2025, according to the report.
The major drivers and restraints affecting the global Converter Modules Industry are examined in detail in the report. Thus, the report provides readers with a complete overview of the growth trajectory of the global converter modules market. Major factors and trends operating in the global converter modules market are examined in the report to give readers an accurate overview of the market’s growth trajectory. Major players in the global converter modules market are also examined in the report to provide readers with an accurate overview of the competitive landscape of the market. The report also examines the impact of the COVID-19 pandemic on the global converter modules market.
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As per MRFR’s analysis, there are several factors that affect the growth of the global converter modules market. The increasing demand for advanced power saving solutions and rapid developments in digital power management and control technologies have further propelled the growth of the global converter modules market. In addition to this, the developments in advanced driver assistance system (ADAS) technology, vehicle-to-anything (V2X) communication modules, body electronics, and LED lighting have created opportunities for manufacturers to develop highly efficient converter modules. However, in a no-load state, these modules do not switch off automatically, thereby reducing the efficiency of systems. This acts as a significant challenge for the manufacturers of converter modules.
Leading players in the global converter modules market include MORNSUN Guangzhou Science Technology Co. Ltd., SynQor Inc., Vicor Corporation, Omron Corporation, Sumida Corporation, Wurth Elektronik GmbH Co. KG, Tamura Corporation, TDK Corporation, Fujitsu, RECOM Power GmbH, Murata Manufacturing Co. Ltd., Advantech Co. Ltd., Flex Ltd., Mitsubishi Electric Corporation, ABB Ltd., Texas Instruments Inc., Renesas Electronics Corporation, STMicroelectronics, ROHM Semiconductor, and Delta Electronics Inc.
Asia Pacific is likely to dominate the global converter modules market over the forecast period due to the growing number of electrical equipment manufacturers in the region.
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