Bus Converter Market size is estimated to reach $7.1 billion by 2030, growing at a CAGR of 11.2% during the forecast period 2023-2030. The Bus Converter Market refers to the industry that produces devices known as bus converters. These are electronic devices used in power electronics to convert one type of electrical bus voltage or current to another, often for the purpose of efficiently transmitting power between different components of a system. Bus converters play a crucial role in various applications, including renewable energy systems, electric vehicles, and industrial machinery. They enable the seamless integration of different power sources and components by ensuring that the electrical parameters match, optimizing power transfer, and minimizing losses, propelling the Bus Converter Market growth.
Additionally, the global market for Bus Converter s is predicted to benefit from an increase in strategic partnerships and organisational collaboration. A new, ultra-compact IBC manufactured in collaboration with Onsemi, The non-isolated, unregulated BMR313, created in partnership with Onsemi, has an astounding power density of 908 W/cm3 and a peak power rating of 3 kW in a very tiny package (23.4 x 17.8 x 7.65 mm). Worked with onsemi on the BMR313 design to take use of the FD6000’s benefits as the company’s newest generation intermediate bus digital controller. These factors positively influence the Bus Converter industry outlook during the forecast period.
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Asia Pacific to Register Highest Growth:
Geographically, Asia Pacific dominated the Bus Converter Market grow with a CAGR of 13.9%, during the forecast period. Technologically advanced and innovative product launches by major manufacturers present in the region are cost-effective and can endure high foot traffic driving Bus Converter Market in APAC region.
In addition, MORNSUN, a national high-tech company with its headquarters in China, has developed into one of the top producers of vertical industrial power supplies. On November 13, 2019, MORNSUN unveiled the CFB0505XT-1WR3, a new Innovative DC/DC converter module created especially for automotive applications. The new CFB0505XT-1WR3 module complies with AEC-Q100 guidelines and automotive EMC regulations. Additionally, the CFB0505XT-1WR3 has a small footprint, a 3000VAC/4200VDC high isolation voltage, a working temperature range of -40°C to +105°C, and output continuous short-circuit protection, making it perfect for automotive applications with an efficiency of up to 82%. These factors will drive up demand for Bus Converter s throughout the forecast period.
Bus Converter Market 2023-2030: Segmentation
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Bus Converter Market Report – Key Takeaways:
Non-Isolated Segment is Dominating the Market
The category for non-Isolated is expected to dominating market over the forecast period and had a significant share of the market in 2022. Non-isolated converters now have higher efficiency, more power density, and better performance because to the use of wide-bandgap semiconductors like SiC (Silicon Carbide) and GaN (Gallium Nitride). Non-isolated bus converters have a wide range of applications in a variety of sectors, including electronics, automotive, telecommunications, and more. Their driving factors are directly related to their effectiveness, compact size, and cost-effectiveness. They are probably going to keep improving and expanding their applications as they continue to develop and incorporate cutting-edge semiconductor technologies. In addition, The BMR313 is a non-isolated, unregulated digital IBC (Intermediate Bus Converter) that was created in partnership with Onsemi. It offers 3kW of peak power and 1kW of continuous power in a remarkably compact design that measures just 23.4 x 17.8 x 7.65mm (LxWxH). With a 4:1 input to output ratio and an input voltage range of 38–60V, the output voltage range is 9.5–15V.
Module/Brick Format to Register Highest Growth
The compact, scalable, and high efficiency of module/brick format bus converters contributes to their brisk expansion. These converters’ versatility enables them to be customized for a variety of uses, such as electric car infrastructure, data centres, and telecommunications. Their compact design makes the best use of available space, and their effective power conversion cuts down on heat production and energy expenditures. Modular/brick converters can also be made to order, offering special answers for demands involving variable current and voltage. The need for these converters is still on the rise, fuelling the market’s expansion as companies place a growing emphasis on energy efficiency and small power systems. In order to save energy and cooling costs, Ericsson launched in 2018 a pair of bus converter modules in eighth-brick shapes that can handle currents of up to 40A. According to the manufacturer, both are the most effective eighth-brick power modules in the 40A class currently on the market. The market for Bus Converter s is anticipated to be driven by such innovations.
North America is Leading the Market
North American region held a major market share of 36.2% in 2022. North America currently leads the bus converter market, it is worth noting that other regions, such as Europe and Asia, also have growing demand for these components owing to their expanding industrial sectors and renewable energy initiatives. Nonetheless, North America’s technological prowess, diverse industries, and commitment to sustainability continue to position it as a major player in the bus converter market. Moreover, the new MCOTS-B-800-48-FT and MCOTS-B-900-48-FT unregulated 3 kW full brick modules are the most recent additions to the MCOTS BusQor product range, which SynQor will introduce in 2022. This new generation of isolated, fixed frequency synchronous rectifiers from SynQor provides the foundation for these high-power, high-efficiency unregulated DC-DC converters. A voltage between 700 and 900 Vdc and 800 to 1000 Vdc can be down converted to an unregulated voltage between 37 and 53 Vdc. Throughout their entire spectrum of operation, the two new BusQor modules are intended to deliver extremely high-power conversion at extremely high efficiencies—96.8% at full rated load current.
Bus Converter s Technology Is Growing Popular in the Automotive industry creating opportunities.
In addition to the growing complexity and miniaturization of automotive electronics, the demand for strict quality assurance and dependability, cost-effectiveness, and the industry’s transition to electric and autonomous vehicles, Bus converters are becoming more and more popular in the automotive sector. The importance of Bus Converter in assuring the dependability and quality of semiconductor components will probably keep expanding as long as the automobile industry continues to make technological advancements. Additionally, the increasing use of semiconductors in new technologies like autonomous driving, artificial intelligence (AI), 5G, and the Internet of Things is another reason pushing the market for Bus Converter. Top competitors are also concentrating on a number of marketing strategies like mergers acquisitions and collaborations to maintain their competitive edge in the business. For instance, Nidec Corporation bought SV Probe Pt. Ltd. to increase its sales reach and level the playing field for itself globally.
For instance, a pioneer in intelligent power and sensing technologies, onsemi launched a trio of silicon carbide (SiC) based power modules in transfer moulded technology in 2022. These modules are intended for use in on-board charging and high voltage (HV) DCDC conversion within all types of electric vehicles (xEV). The APM32 series, which is uniquely created for high-power 11–22kW on-board chargers (OBC), combines SiC technology into a transfer moulded package to improve efficiency and reduce charge times for xEVs.
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Key Opportunity Analysis:
The market is experiencing an increase in strategic partnerships and collaborations.
Strategic alliances and collaborations are increasing rapidly in the bus converter sector currently.” The industry’s drive for new ideas and market growth is what led to this trend. Combining resources, businesses can create cutting-edge bus converter solutions, broaden their global reach, and offer full power management solutions to a variety of clientele. Optimising supply chains, lowering R&D expenses, and complying with regulations are all made easier via collaborations. Strategic partnerships allow businesses to improve their competitiveness, share risks, and access new technologies, eventually promoting innovation and effectively fulfilling the changing expectations of customers. This is because market competition is increasing and markets are becoming more and more competitive. For instance, Infineon Technologies AG, a leader in automotive semiconductors, and Delta Electronics, Inc., a leading power and energy management company based in Taiwan, signed a Memorandum of Understanding on March 21, 2023, extending their long-term partnership from industrial to automotive applications. This will deepen their joint innovation activities to provide more effective and higher-density solutions for the rapidly expanding electric vehicle market. The deal covers a broad range of parts, including high-voltage and low-voltage discretes and modules, as well as microcontrollers to be utilised in traction inverters, converters, and on-board chargers for electric vehicle drivetrains. such growing developments boosts the Bus Converter Market growth.
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The Report also Covers the Following Areas:
- Bus Converter Market Size and Forecast
- Bus Converter Market Trends
- Bus Converter Market Analysis by Product Type
Bus Converter Market 2023-2030: Key Highlights
- CAGR of the market during the forecast period 2023-2030
- Value Chain analysis of key stake holders
- Detailed analysis of market drivers and opportunities during the forecast period
- Bus Converter Market size estimation and forecast
- Analysis and predictions on end users’ behaviour and upcoming trends
- Competitive landscape and Vendor market analysis including offerings, developments, and financials
- Comprehensive analysis of challenges and constraints in the Bus Converter Market
Covid and Ukrainian Crisis Impact:
The COVID-19 pandemic had a multifaceted impact on the bus converter industry, with disruptions to supply chains and changes in demand patterns being some of the most significant challenges. However, it also accelerated trends like digital transformation and increased awareness of the importance of reliable power management systems, creating new opportunities for innovation and growth in the bus converter market. Following the COVID-19 outbreak, electric vehicle sales were rapidly increasing. Lockdowns have been implemented by governments all over the world, which has caused an economic slowdown and hurt sales of electric vehicle and infrastructure systems for charging. The Society of Electric Vehicle Manufacturers (SMEV) estimates that the number of electric vehicle registrations in India decreased by 20% in FY21 compared to FY20.
The bus converter companies impacted by the Russia-Ukraine conflict owing to possible supply chain disruptions, export restrictions, and geopolitical ambiguity. Due to the presence of electronic component manufacturers in the area, supply chain disruptions that influence bus converter production globally are likely. Export limitations result in a shortage of components and higher prices. Geopolitical unrest discourages operations and investments in the impacted regions. The fluctuation of currency exchange rates could affect material costs. Increasing supply chain resilience through supplier base diversification become a strategic objective.
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List of Key Market Players in Bus Converter Market:
The Global Bus Converter Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:
- ABB Power Electronics Inc.
- Artesyn Embedded Power
- Bel Power Solutions
- CUI Inc.
- Delta Electronics
- Flex Power Modules
- Intel
- Murata Power Solutions Inc.
- TDK-Lambda Americas Inc
- Vicor Corporation
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