AC-DC Automotive Converter Market Revenue was valued at USD 4.21 Billion in 2024 and is estimated to reach USD 9.84 Billion by 2033, growing at a CAGR of 10.4% from 2026 to 2033.
South Korea's AC-DC Automotive Converter Market is experiencing significant growth, fueled by the nation's ambitious push towards electric mobility and stringent environmental regulations. The South Korean government has set a target to supply 4.5 million electric vehicles (EVs) by 2030, aiming to expand the sale of pollution-free vehicles to 85-97% of total vehicle sales. This initiative is a key driver for the increased demand for efficient AC-DC converters, essential components that manage power conversion in EVs.
In 2023, the global AC-DC automotive converter market was valued at USD 12.5 billion and is projected to reach USD 25.6 billion by 2032, growing at a CAGR of 8.1%. South Korea's contribution to this market is significant, given its robust automotive industry and technological advancements. The market growth is primarily driven by the increasing adoption of electric vehicles and advancements in automotive electronics.
Industry requirements for AC-DC converters in South Korea are diverse, catering to various applications:
Passenger Vehicles: Demand for compact, efficient converters that can handle varying power loads.
Commercial Vehicles: Need for high-capacity converters to support larger power requirements.
Electric Vehicles: Emphasis on converters that offer high efficiency and reliability to extend battery life and driving range.
Power output specifications are also critical, with converters categorized as:
Less than 1kW: Suitable for auxiliary systems and smaller vehicles.
1kW-10kW: Common in standard passenger EVs.
More than 10kW: Required for heavy-duty and commercial EVs.
South Korea's focus on standardization and safety is evident through compliance with KC certification, ensuring that all electrical components, including AC-DC converters, meet stringent safety and performance standards. This regulatory framework supports the industry's move towards high-quality, reliable power conversion solutions.
As the automotive sector continues to evolve, the AC-DC Automotive Converter Market in South Korea is poised for sustained growth, driven by technological innovation and supportive government policies.
Get an In-Depth Research Analysis of the South Korea AC-DC Automotive Converter Market Size And Forecast [2025-2032]
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TDK-Lambda
ROHM
STMicroelectronics
Murata Power Solutions
RECOM
Infineon Technologies
Autronic
Cincon Electronics
Onsemi
GOEPEL Electronic GmbH
Zekalabs
Traco Power
Mornsun
Power Integrations
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea AC-DC Automotive Converter Market
Half-Bridge Converters
Full-Bridge Converters
Flyback Converters
Forward Converters
Buck Converters
Electric Vehicles (EV)
Hybrid Electric Vehicles (HEV)
Plug-in Hybrid Electric Vehicles (PHEV)
Charging Stations
Start-Stop Systems
Low Power (up to 1 kW)
Medium Power (1 kW to 10 kW)
High Power (above 10 kW)
12V DC
24V DC
48V DC
High Voltage Systems (above 48V)
Original Equipment Manufacturers (OEMs)
Aftermarket Suppliers
Automotive Component Manufacturers
Electric Vehicle Charging Infrastructures
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea AC-DC Automotive Converter Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea AC-DC Automotive Converter Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea AC-DC Automotive Converter Market, By Type
6. South Korea AC-DC Automotive Converter Market, By Application
7. South Korea AC-DC Automotive Converter Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea AC-DC Automotive Converter Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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