The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Converter Modules Market Worth. The growth sectors of the Converter Modules Market Worth are identified with precision for a better growth perspective.
Converter modules facilitate elements to operate in high-power situations. These devices work without the intervention of an external source. This helps the manufacturer to curb costs of the board. It makes the circuit design simplified and leads to the removal of interferences and ground loop taking place from other circuits. The manufacturers who make components are concentrating largely on planning isolated converter modules. These modules go at par with strict medical safety norms. They are identified for expanding their reach in the healthcare equipment sector. In addition to this, the converter modules market has observed a substantial shift towards battery powered vehicle. With the inception of this trend, the component makers get encouraged to create converter modules that meet the demands of the automotive sector.
As per the research report published by Market Research Future, the worldwide converter modules market has been segregated on the basis of application and type. According to the type segment, the DC-DC converter module component is projected to rule the development of the worldwide market throughout the assessment period. On the other hand, according to the applications segment, the industrial segregation is expected to observe a substantial growth rate over the assessment period 2019–2025.
The worldwide market for converter modules is predicted to witness swift growth over the forecast period from 2019 to 2025, as stated in the report published by Market Research Future. The geographic study conducted on the converter modules market has been studied for regions like Europe, North America, Australia, Asia-Pacific, and the rest of the world (comprising South America and the Middle East & Africa). As per the analysis done by Market Research Future, the market in Asia-Pacific is estimated to hold the largest share of the worldwide converter modules market throughout the assessment period. Japan, Taiwan, and China, are among the key makers of converter modules within the Asia Pacific market. This factor contributes significantly to the development of the market in APAC. Also, the increasing per capita income level coupled with the rising population in the market, serves as influencing factors for the expansion of the worldwide converter modules market. Besides, the expanding government outlay in the defense sector also fuels the growth of the converter modules industry in the Asia Pacific market. On the other hand, the North America market is estimated to record the highest CAGR over the review period 2019–2025. The demand for high power activities in the defense and industrial verticals has accelerated the local makers in this market to explore the converter modules industry and encourage the growth of the North America converter modules market. Furthermore, the presence of emerged economies within the North America market also fuels the growth of the converter modules market significantly.
The prominent players within the converter modules market are identified across all the key regions based on their geographic presence and country of origin. Additionally, the other factors influencing the market players include recent key developments, industry expertise, and product diversification. Some of the remarkable players prevailing in the worldwide converter modules market include RECOM Power GmbH (Austria), Murata Manufacturing Co., Ltd (Japan), ROHM Semiconductor (Japan), FUJITSU (Japan), Renesas Electronics Corporation (Japan), STMicroelectronics (Switzerland), ABB Ltd (Switzerland), Texas Instruments Incorporated (US), Delta Electronics, Inc. (Taiwan), Mitsubishi Electric Corporation (Japan), Advantech Co., Ltd (Taiwan), Flex Ltd. (US), Würth Elektronik GmbH & Co. KG (Germany), SynQor, Inc. (US), Vicor Corporation (US), OMRON Corporation (Japan), SUMIDA CORPORATION (Japan), TDK Corporation (Japan), TAMURA Corporation (Japan), and MORNSUN Guangzhou Science & Technology Co.,Ltd (China). The firms are dedicated on enhancing and upgrading their current product portfolios as well as advancing products by spending in research and development by studying the altering market trends.
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