The global power converter market is on a rapid growth trajectory, fueled by escalating demand for efficient energy transformation solutions across industries. As the world transitions to smarter, more sustainable energy infrastructures, the need for advanced power conversion systems has become crucial in sectors like renewable energy, electric vehicles (EVs), industrial automation, and consumer electronics.

According to recent market forecasts, the global power converter market size is expected to reach USD 28.46 billion by 2025 and is projected to grow at a CAGR of 7.8% from 2025 to 2035, eventually hitting a value of USD 46.82 billion by 2035. This robust growth can be attributed to the increasing integration of electronics in critical sectors and the growing need to ensure energy efficiency, stability, and adaptability in electrical systems.

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