DC Power Supplies Market is projected to reach $605 Million by 2032, according to a report by Future Market Insights Inc.
The global DC power supplies market is forecasted to grow at a CAGR of 4.3% from 2022 to 2032, according to a new report by FMI. The market is driven by the increasing demand for renewable energy, the need for efficient power management, and the growing adoption of smart grid technologies.
NEWARK, Del., April 28, 2022 /PRNewswire/ -- According to the reports of FMI, the global DC power supplies market is expected to reach USD 447.33 million by 2025, up from USD 378 million in 2021, at a CAGR of 4.3% during the forecast period.
The DC power supplies market's expansion can be attributed to rising demand for wireless communication and infrastructure, as well as aerospace and defence, in countries such as the United States and Canada, as well as rising demand for industrial automation and consumer electronics in countries such as India, China, and Japan.
The global market for DC power supply has been badly disrupted by the COVID-19 epidemic. The COVID-19 epidemic slowed economic development in nearly all major nations, altering consumer purchasing habits.
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National and international travel have been impeded as a result of the lockdown applied in several nations, which has greatly disrupted the supply chain of DC power supplies sectors and many others throughout the world, consequently expanding the supply–demand gap.
The rapid expansion of the electronic industry is expected to propel the DC power supply market. With the continual expansion of the industrial sector, the DC power supply market is expected to rise considerably. Growing fundamental electronic applications necessitate precise voltage, which must be balanced against changes in input voltage and burdened with producing precise voltage as required.
The DC power supplies market is poised for tremendous development. With increased production and demand for electronic devices such as laptops, computers, mobile phones, and other electronic devices in consumers, and these gadgets need constant DC supply, demand for DC power supply systems is increasing. However, the DC power supplies market's expansion is hampered by its complicated nature and expensive cost.
The market for DC power supply is divided into five regions: Asia Pacific, Europe, North America, South America, and the Middle East and Africa. From 2019 to 2024, North America is expected to have the greatest share of the DC power supply market.
During the forecast period, it is predicted to be the fastest-growing market for DC power supplies. The increasing wireless communication & infrastructure and aerospace & military segments in nations such as the United States and Canada are expected to drive demand for DC power supply in the area.
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KEY TAKEAWAYS:
- The North America from the DC power supply market is expected to grow at the fastest CAGR of 4.6% in the region sector.
- Automotive is expected to grow at a high rate in the application sector of the DC power supply market, with a CAGR of 4%.
- The market size for DC power supply in the United States is expected to reach US$ 216 Million by 2032, growing at a CAGR of 4.1% during the research period.
- United Kingdom is expected to reach a market size of US$ 25 Million in DC power supply by 2032, with a CAGR of 3.1% during the research period.
- China's DC power supply market is expected to be worth US$ 44 Million by 2032, with a CAGR of 3.7% over the forecast period.
- Japan is expected to have a market size for DC power supply of US$ 35 Million by 2032, with a CAGR of 2.7% during the research period.
- By 2032, South Korea is expected to reach a market size of US$ 23 mllion in DC power supply, with a CAGR of 2% during the research period.
COMPETITIVE LANDSCAPE:
Keysight Technologies, AMETEK, Goodwill Instrument, TDK Lambda, and Chroma ATE are the key participants in the DC power supply market.
- The firm introduced a new E36200 range of single and dual output power supplies in May 2019. As part of its inorganic strategy, Keysight Technologies received a contract in December 2015 to supply DC Power Supplies to the University of Sheffield's Electronic Engineering Teaching Lab.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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Report:https://www.futuremarketinsights.com/reports/dc-power-supplies-market
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