The global industrial power supply market size is projected to reach USD 9.7 billion by 2026 from an estimated USD 7.0 billion in 2021, at a CAGR of 6.9 % during the forecast period. The growth of the market is attributed to the increasing demand for energy-efficient devices in industrial sector and surging adoption of electric vehicles worldwide.
“By product type, AC?DC Converters is expected to dominate the industrial power supply market.”
The AC?DC Converters segment is estimated to hold a larger share of the market during the forecast period. The increasing demand for military land vehicles and the growing use of AC–DC converters in automotive applications are the key factors for the larger market size of the segment.
“By output power, very low output (up to 500 W) segment is expected to dominate the global industrial power supply market.”
The very low output (up to 500 W) segment is expected to be the largest, by output power, during the forecast period. The rising use of automation tools and growing adoption of digital technology by industries based in China, India, and Japan are the major reasons for the growth of the market for industrial power supplies with a very low output.
“By vertical, transportation segment is expected to dominate the global industrial power supply market.”
The transportation vertical is estimated to continue to account for the largest market share throughout the forecast period. The surging demand for AC–DC or DC-DC power supplies in automotive and rail applications is expected to propel the industrial power supply market growth in the coming years.
“By region, Asia Pacific is expected to lead the industrial power supply market, in terms of value.”
Asia Pacific is the largest market for industrial power supply globally, followed by North America and Europe. The growth of the market in this region is mainly driven by the growing adoption of automation tools across several industries in countries such as China and Japan and the increasing sale of electric vehicles in China, Japan, and India. China is the largest market for the transportation vertical because of the widespread sales of automobiles and automotive components
Breakdown of Primaries
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants to obtain and verify critical qualitative and quantitative information, as well as to assess the market’s prospects.
The distribution of primary interviews is as follows:
- By Company Type: Tier I – 65.0%, Tier II – 24.0%, and Tier III – 11.0%
- By Designation: C-Level Executive – 30.0%, Directors – 25.0%, and Others – 45.0%
- By Region: North America – 27.0%, Asia Pacific – 33.0%, Europe – 20%, Middle East and Africa – 8%, South America – 12%
Note: “Others” includes sales managers, marketing managers, product managers, and product engineers.
The tier of the companies is defined based on their total revenue as of 2017?Tier 1: USD 1 billion, Tier 2: from USD 1 billion to USD 500 million, and Tier 3:
The global industrial power supply market is dominated by leading players that have an extensive regional presence. The leading players include TDK Lambda (Japan), XP Power (Singapore), Delta Electronics (Taiwan), Siemens (Germany), and Murata Power Solutions (US), XP Power (Singapore), Advanced Energy (US), Bel Fuse (US), Cosel (Japan), MEAN WELL (Taiwan), etc.
The report defines, describes, and forecasts the industrial power supply market by product type, output power, vertical, and by region. It also offers detailed qualitative and quantitative analyses of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include the analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the industrial power supply market.
Key benefits of buying the report:
The report will help market leaders/new entrants in this market in the following ways:
- This report segments the global industrial power supply market comprehensively and provides the closest approximations of the revenues for the overall market and the subsegments across different verticals and regions.
The report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities. This report will help stakeholders understand competitors better and gain more insights to improve their position in the market. The competitive landscape section includes the new product developments, mergers & acquisitions, investments & expansions, and partnerships and collaborations.