The Industrial Power Supply Global Market Report 2023 by The Business Research Company, provides industrial power supply market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Industrial Power Supply Global Market Report 2023, the market size is expected to grow from$8.07 billion in 2022 to $8.67 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the industrial power supply market size is expected to grow to $11.14 billion in 2027 at a CAGR of 6.4%.
The adoption of electric vehicles is expected to propel the growth of the industrial power supply market going forward. Electric vehicles are vehicles that consist of a motor that is powered by electricity stored in batteries. It operates on electric motors and charges its batteries with electricity instead, which requires various industrial power supply subsystems, such as AC/DC converters and battery management systems, for their functionalities. Additionally, with defense against COVID-19 and aspirations to achieve net-zero emissions, EV and hybrid vehicles are suddenly adopted. Such a surge in electric vehicle demand has increased production and demand for industrial power supply.
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The industrial power supply market is segmented:
1) By Product Type: AC-DC Converters, DC-DC Converters
2) By Output Power: Very Low Output (up to 500 W), Low Output (500-1, 000 W), Medium Output (1, 000 W-10 kW), High Output (10-75 kW), Very High Output (75-150 kW)
3) By Vertical Type: Transportation, Semiconductor, Military And Aerospace, Robotics, Test And Measurement, Industrial 3-D Printing, Battery Charging And Test, Automotive, Energy, Other Vertical
Technological advancements have emerged as a key trend gaining popularity in the industrial power supply market. The market is witnessing the implementation of advanced technologies to improve in energy efficiency levels of these power supplies. Major companies operating in the industrial power supply market are focused on innovating new technologies to sustain their position in the market. For instance, in August 2022, Toshiba Electronics Europe GmbH, a Europe-based electronic components business of Toshiba Electronic Devices and Storage Corporation, launched five 1200V silicon-carbide (SiC) MOSFETs. It increases the energy efficiency of high-voltage industrial applications using the third-generation SiC technology. The new devices include an incorporated Schottky barrier diode (SBD), additionally improving the dependability of SiC MOSFETs by overcoming internal parasitic effects and maintaining a steady device RDS (on). This technology furthur enhances conduction and switching performance in power-conversion topologies by increasing the on-resistance x gate-drain charge (RDS(on) x QGD) figure of merit by more than 80%.
The industrial power supply market report table of contents includes:
1. Executive Summary
2. Industrial Power Supply Market Characteristics
3. Industrial Power Supply Market Trends And Strategies
4. Industrial Power Supply Market – Macro Economic Scenario
5. Industrial Power Supply Market Size And Growth
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26. Africa Industrial Power Supply Market
27. Industrial Power Supply Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Industrial Power Supply Market
29. Industrial Power Supply Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- TDK Lambda
- Siemens
- Delta Electronics
- ABB Ltd
- Murata Power Solutions
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