Industrial Power Supply Market: Current Analysis and Forecast (2021-2027)

Industrial Power Supply Market: Current Analysis and Forecast (2021-2027)

Industrial Power Supply Market is expected to exceed the market valuation of more than US$ ~13 billion in 2027 and is expected to grow at a significant CAGR of ~7% during the forecast period (2021-2027). Power Supplies for industries may be built into a machine on a factory floor. Equally, industrial power supplies can also refer to a myriad of other markets like CCTV, battery chargers, lighting, medical equipment, EPOS, marine, servers and PCs among others. Even though they are diverse, these application have a common need for products which are resilient to the environments which they face, and on the same time provide a reliable and cost-effective solution. The complexity of electronic products and equipment’s has grown steadily; this has made it important to maintain uncompromised safety standards which has also become a challenging process. Equipment used should remain protected from injury, while manufacturers should minimize exposure to litigation. Standard bodies around the world are recognizing these realities and have responded with new-generation safety legislation which has shifted significantly from prescriptive rules to a new hazards-based concept which has more performance based options.

The energy delivered in the industrial sector is more than any other end-user, which consumes about 54% of the world’s total delivered energy according to the Energy Information Administration (EIA) data. Energy consumption is related directly to the environment. Increase in energy consumption leads to increase in various environmental issues like greenhouse gas emissions, global warming, air pollution, which in turn drives the use of energy-efficient devices in industrial processes. The use of energy-efficient devices minimizes the exploitation of natural resources and helps to address related problems like voltage fluctuations. The rising need to reduce energy consumption has prompted manufacturers to develop innovative energy efficient devices. According to EIA, the energy use in the transportation sector is likely to increase by nearly 40% between 2018 and 2050. This growth is largely driven by non-OECD member countries, where the use of energy in the transportation sector is likely to increase by nearly 80% between 2018 and 2050. The energy used in the industrial power supply sector is expected to grow in the developing countries with the growing manufacturing sector.

ABB Ltd., Amara Raja Power Systems Limited (ARPSL), COSEL Co., Ltd., CUI Inc., Delta Electronics, Inc., Magna-Power Electronics, Inc., MEAN WELL Enterprises Co., Ltd., Siemens AG, TDK-Lambda Corporation, XP Power Ltd. are some of the prominent players operating in the Industrial Power Supply market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Type, DC-DC Converters segment holds the major share”

Based on Type, the Industrial Power Supply market is segmented into AC−DC Converters and DC−DC Converters. Amongst Type, the DC-DC Converters segment of the market was valued at US$ XX billion in 2020 and is likely to reach US$ XX billion by 2027 growing at a CAGR of XX% from 2021-2027. DC-DC converters are used widely to produce a regulated voltage from a source which may or may not be well controlled efficiently to a load that may or may not be constant. DC-DC converters are high-frequency power conversion circuits which use high frequency switching and inductors, capacitors, and transformers to smooth out switching noise into regulated DC voltages.

“Amongst Output Power, Very Low Output (Up to 500 W) Segment holds the major share”

Based on Output Power, the Industrial Power Supply market is segmented into Very Low Output (Up to 500 W), Low Output (500 W−1,000 W), Medium Output (1,000 W−10 kW), High Output (10−75 kW), and Very High Output (75−150 kW). Amongst output power, Very Low Output (Up to 500 W) segment accounted for a market valuation of US$ XX billion in 2020 and is expected to reach US$ XX billion by the year 2027, at a CAGR of XX% over the analyzed period. With the rising automation and invention of more advanced and complex tools, there is expected to be an increase in very low output machines. Additionally, growing digitalization in India, China and japan are the major reasons for the growth of the very low output power supply.

“Amongst Vertical, Transportation segment holds the major share”

Based on vertical, the Industrial Power Supply market is segmented into Transportation, Semiconductor, Military & Aerospace, Robotics, Test & Measurement, Industrial 3D Printing, Battery Charging & Test, Laser, and Lighting. Amongst vertical, the transportation segment of the market was valued at US$ XX billion in 2020 and is likely to reach US$ XX billion by 2027 growing at a CAGR of XX% from 2021-2027. Transportation plays a vital role in the world’s industrial growth, by facilitating the movement of people and global trade. However, it comes at a cost as it is the major source of emissions given its heavy reliance on fossil fuels.

“Asia Pacific represents one of the largest markets of Industrial Power Supply market”

For a better understanding of the market dynamics of the Industrial Power Supply market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC) and Rest of the World. Asia Pacific dominated the market and grabbed around XX% market share owing to increasing urbanization and industrialization in the region.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry