As businesses and industries become more conscious of their energy consumption and environmental impact, they are increasingly seeking power supply solutions that offer higher efficiency and lower energy waste. This trend is fueled by both cost-saving initiatives and regulatory pressures to reduce carbon footprints, thereby expected to boost the demand of industrial power supply market during the forecast period.
WILMINGTON, Del., Aug. 20, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Industrial Power Supply Market by Type (Switching Power Supplies, Unregulated Power Supplies, Linear Power Supplies and Others), Product (Panel Mount, DC/DC Converters, LED Drivers, Battery Chargers and Others), Application (Industrial Automation, Medical Devices, Telecommunication, Data Centers and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the industrial power supply market was valued at $11.6 billion in 2023, and is estimated to reach $32.1 billion by 2033, growing at a CAGR of 10.6% from 2024 to 2033.
Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/A07828
Prime determinants of growth
As solar, wind, and other renewable energy technologies are increasingly integrated into power grids and industrial operations, there's a growing need for specialized power supply systems that can efficiently manage and convert the variable output from these sources. Industrial power supplies play a crucial role in this transition by providing the necessary power conditioning, voltage regulation, and energy storage solutions to ensure a stable and reliable power flow from renewable sources to industrial equipment. The expansion of renewable energy sources is significantly driving the demand for industrial power supplies market.
Report coverage & details:
Report Coverage |
Details |
Forecast Period |
2024–2033 |
Base Year |
2023 |
Market Size in 2023 |
$11.6 billion |
Market Size in 2033 |
$32.1 billion |
CAGR |
10.6 % |
No. of Pages in Report |
340 |
Segments Covered |
Type, Product, Application, and Region. |
Drivers |
|
Opportunity |
|
Restraint |
|
The switching power supplies segment is expected to experience the fastest growth throughout the forecast period.
By type, the switching power supplies segment held the highest market share in 2023 and is estimated to maintain its leadership status throughout the forecast period. Switching power supplies indeed operate at significantly higher efficiency levels compared to linear power supplies, typically in the range of 80-95%. The efficiency of switching power supplies stems from their operating principle. They rapidly switch the input voltage on and off at high frequencies, typically in the range of 10 to 100 kilohertz. This switching action, combined with energy storage in inductors or capacitors, allows for efficient power conversion with minimal energy loss.
Procure Complete Report (340 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/4g2ol3A
The DC/DC converters segment is expected to experience the fastest growth throughout the forecast period.
By product type, the DC/DC converters segment held the highest market share in 2023 and is estimated to maintain its leadership status throughout the forecast period. DC/DC converters play a crucial role in modern electronics, serving as the backbone of power management systems across a wide range of applications. Their dominance in the market stems from their versatility and essential function in converting and regulating voltage levels.
The industrial automation segment is expected to experience the fastest growth throughout the forecast period.
By application, the industrial automation segment held the highest market share in 2023 and is estimated to dominate during the forecast period. As factories and production facilities increasingly adopt automated systems, robotics, and interconnected devices, the demand for reliable, efficient, and sophisticated power solutions has skyrocketed. These automated systems require precise power management to ensure optimal performance and minimize downtime.
Asia-Pacific is expected to experience the fastest growth throughout the forecast period.
By region, Asia-Pacific was the fastest growing region in terms of revenue in 2023. Rapid industrialization across the region is a primary factor driving the demand for industrial power supplies. Countries such as China, India, Vietnam, and Indonesia are experiencing significant industrial growth, with a focus on manufacturing sectors such as automotive, electronics, and textiles. This industrial expansion necessitates reliable and efficient power supply solutions to support the increasing number of factories and production facilities. All these factors are expected to drive the demand for the industrial power supply market.
For Purchase Inquiry: https://www.alliedmarketresearch.com/industrial-power-supply-market/purchase-options
Leading Market Players: -
- Siemens AG
- ABB Ltd.
- General Electric Company
- Schneider Electric
- Eaton
- Advanced Energy
- Bel Fuse Inc
- Delta Electronics, Inc.
- Murata Manufacturing Co., Ltd.
- Power Integrations.
The report provides a detailed analysis of these key players in the global industrial power supply market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Trending Reports in Energy & Power Industry:
Programmable DC Power Supply Market Size, Share, Competitive Landscape and Trend Analysis Report, by Power Supply, by Type, by Application: Global Opportunity Analysis and Industry Forecast, 2024-2033
Distributed Energy Generation Market Size, Share, Competitive Landscape and Trend Analysis Report, by Technology, by End-Use Industry, and, by Region: Opportunity Analysis and Industry Forecast, 2024 – 2033
AC Drives Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Voltage Type, by Application: Global Opportunity Analysis and Industry Forecast, 2024-2033
Synchrophasor Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component, by Application: Global Opportunity Analysis and Industry Forecast, 2024-2033
Power Converter Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, By Application, By End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2022-2032
Industrial Electrification Market Size, Share, Competitive Landscape and Trend Analysis Report, by Product, by Application: Global Opportunity Analysis and Industry Forecast, 2023-2032
Electric Service Companies (ESCOs) Market Size, Share, Competitive Landscape and Trend Analysis Report, by Customer Type: Global Opportunity Analysis and Industry Forecast, 2023-2032
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact us:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
[email protected]
Web: https://www.alliedmarketresearch.com/reports-store/energy-and-power
Follow Us on | Facebook | LinkedIn | YouTube
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
SOURCE Allied Market Research
![](https://rt.prnewswire.com/rt.gif?NewsItemId=IO87404&Transmission_Id=202408200317PR_NEWS_USPR_____IO87404&DateId=20240820)
Share this article