Industrial Power Supply Market Size, Growth & Analysis 2029
Industrial Power Supply Market was valued at USD 29.3 billion in 2021 and is projected to reach USD 45.7 billion in 2029 rising at a CAGR of 5.7% from 2022-2029
The factors driving growth of Industrial Power Supply Market includes increase in the number of data centers around the world, rising penetration electric vehicles, growing demand for Unmanned Ariel Vehicles (UAVs) and improvements in the living standards. Moreover, growing adoption of advanced technologies by manufacturers, rising focus by Government on reducing greenhouse gas emissions, expansion of the Telecom Industry, increase in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.
However, growth of Industrial Power Supply Market is hindered due to rising adoption of high voltage direct current and renewable energy sources.
The leading players operating in the market are XP Power, Artesyn Technologies, Murata Power Solutions Inc., MEAN WELL Enterprises Co., Ltd., TDK-Lambda Corporation, General Electric, Phoenix Contact, Delta Electronics, Cosel, Siemens AG and Puls among others.
Based on Product Type, the AC-DC Converter segment is predicted to grow at a significant CAGR during the forecast period
Rising application of AC-DC convertors in electric motor speed control, induction heating and HVDC power transmission, is propelling Global Industrial Power Supply Market.
Based on Output Power, the Medium Output (1,000 W–10 kW) segment is projected to expand at a faster CAGR over the forecast period
Increasing application of medium output power supply systems in audio/video broadcasting, packing equipment and inverter stations in solar technology, pushing segment’s growth.
Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR during the forecast period
Increasing sales of electric vehicles across India, South Korea, and Japan, growing adoption of advanced technologies across manufacturing and construction industries, rapid urbanization, rising per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in the Asia-Pacific region.
Key Developments
In Oct 2019, Murata Power Solutions introduced PQU650 series, 650 W-rated AC-DC power supplies which offer high power density with convection-cooled ambient ratings and forced-air.
In Sep 2019, XP Power developed two new series of wide input range chassis and DIN rail mount DC-DC converters. It provides fast and easy installation, into a wide variety of industrial and ITE applications.
Market Segmentation
Segmentation by Product Type
AC-DC Converter
Enclosed/Encapsulated
Din Rail
Open Frame
PCB Mount
Configurable Type
DC-DC Convertor
Isolated
Nonisolated
DC-AC Invertor
Wall-Mount Inverter
Rack-Mount Inverter
Card-Mount Inverter
Segmentation by Output Power
Low Output (Up to 1,000 W)
Medium Output (1,000 W–10 kW)
High Output (10–75 kW)
High Output (75–150 kW)
Segmentation by Vertical
Lighting
Consumer Electronics
Transportation
Food & Beverage
Military & Aerospace
Telecommunication
Medical & Healthcare
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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