Industrial Power Supply Market by Type, Output Power, Vertical and Region - Global Forecast to 2027 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Industrial Power Supply Market by Type (AC-DC and DC-DC Converter), Output Power (up to 500W, 500-1000W, 1000W-10kW, 10-75kW, 75-150kW), Vertical (Medical & Healthcare, Transportation, Military & Aerospace, Automobile), Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The industrial power supply market is anticipated to grow from an estimated USD 10.8 billion in 2022 to USD 14.5 billion in 2027, at a CAGR of 6.0% during the forecast period.

The industrial power supply solutions are used in a variety of applications, such as robotics, semiconductor, transportation, as well as in spacecraft power systems, equipment powered by batteries, automotive spare parts, and other electronic devices. The rising adoption of power supply for various end user applications are expected to offer lucrative opportunities for the industrial power supply market during the forecast period.

AC-DC Converter: The largest segment of the industrial power supply market, by type

Based on product type, the industrial power supply market has been split into AC-DC converters and DC-DC converters. AC-DC converters were estimated to account for a larger share of the industrial power supply market in 2021. The rising global military expenditure, and the increasing adoption of electric and hybrid vehicles are prime factors for the higher demand for AC-DC converters.

Medical & Healthcare segment is expected to emerge as the largest segment based on vertical

The industrial power supply market has been segmented into the transportation, military & aerospace, lighting, test & measurement, semiconductor, battery charging & test, robotics, industrial 3D printing, laser, lighting, telecommunication, consumer electronics, automotive, energy, food & beverage, and medical & healthcare based on verticals. The medical & healthcare is expected to hold the largest market share owing to the living standards of people around the globe are increasing, the demand for affordable and quality healthcare is rising, which will, in turn, increase the demand for industrial power supply solutions.

North America is expected to be the second largest market during the forecast period

North America is expected to be the second-fastest growing market due to the increasing investments in automotive projects and development of food and beverage industries. The food & beverages sector in the region is among the largest in the world. The huge agricultural sector and the ever-growing demand for processed foods from consumers are driving the food & beverages industry in this region.

Market Dynamics

Drivers

• Increasing Demand for Energy-Efficient Devices in Industrial Sector
• Growing Sales of Electric Vehicles Worldwide
• Rising Adoption of Robots Across Several Industries

Restraints

• Increasing Adoption of HVDC and Renewable Energy Sources
• Complexities Associated with Power Supply Equipment Manufacturing

Opportunities

• Increasing Demand for UAVs and Growing Adoption of IoT in Various Sectors
• Rising Need for High-Frequency Switching Power Supplies

Challenges

• Availability of Inexpensive Products of Inferior Quality in Gray Market
• Varying Frequency-Specific Standards Across Countries
• Global Shortage of Semiconductors

Companies Mentioned

• ABB
• Advanced Energy
• Amara Raja Power Systems
• Astrodyne Tdi
• Bel Fuse
• Cosel
• Delta Electronics
• Globtek
• Inventus Power
• Mean Well
• Mtm Power
• Murata Power Solutions
• Phoenix Contact
• Puls
• Recom
• Siemens
• Synqor
• Tdk Lambda
• Traco Power
• Vicor
• XP Power

For more information about this report visit https://www.researchandmarkets.com/r/2kj77t