Global power converter market is anticipated to grow at a considerable CAGR of 7.9% during the forecast period (2024-2031). The increasing demand for efficient power conversion solutions across various industries, driven by the need for energy savings and sustainability is a key factor driving the growth of the global power convertor market. Additionally, the rapid adoption of renewable energy sources like solar and wind power requires sophisticated power conversion technologies to integrate these sources into existing grids. Furthermore, advancements in semiconductor technology have led to the development of more efficient and compact power converters, making them more accessible and cost-effective. Moreover, the proliferation of electronic devices and electric vehicles further fuels the demand for power converters. Overall, these trends contribute to the robust expansion of the power converter market on a global scale. Therefore, to meet the growing demand for power convertor,
Browse the full report description of “Power Converter Market Size, Share & Trends Analysis Report by Type (AC to DC Converter, DC to AC Converter, DC to DC Converter, and AC to AC Converter), by Application (Renewable Energy, Consumer Electronics, Medical Equipment, Electric Vehicle, and Others), and by End-Use Industry (Residential, Commercial, and Industrial) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/power-converter-market
In January 2024, Crane Aerospace & Electronics has unveiled the Interpoint xMOR, a new 120W power conversion product line catering to aerospace and defense sectors. Comprising four DC-DC converters – cMOR, hMOR, sMOR, and rMOR – each tailored for specific market requirements. From high reliability COTS to deep space and new space applications, these converters offer efficiency, certification, and radiation tolerance. The xMOR series promises standardized, reliable power solutions across platforms.
Further, in September 2023, CUI Inc, a Bel group company, launched the PTP15 Series, a 15W, 5 Pin DIP isolated DC-DC converter tailored for medical instrumentation and home medical supplies. With 2:1 input voltage range and 4000 Vac or 5600 Vdc isolation, it meets safety standards without external components. Operating from -40 to +100°C, it offers output protection and suits low-power consumer electronics and industrial applications.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Type
o By Application
o ByEnd-Use Industry
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includesABB Group, General Electric Company (Vernova), Mitsubishi Electric Corp., Schneider Electric SE, and Siemens AG among others.
Key questions addressed by the report
Global Power Converter Market Report Segment
ByType
By Application
By End-Use Industry
Global Power Converter Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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