Power Supply Market Share Estimated to Reach USD 49.15 Billion by 2030

The Power Supply Market Share value was at USD 35.56 billion in 2023 and with the anticipation of 4.73% CAGR it is expected to reach near about USD 49.15 billion by 2030. This growth is a result of rising energy-efficient devices and the growth of the telecommunications industry.

Drivers & Opportunities for Market Growth

Growing adoption of home and building automation is one of the key factors driving market growth. These lead to better energy efficiency and streamlined building operations (monitoring, maintenance, etc.) and hence improve the satisfaction of building occupants. Moreover, the power supply market globally is driven by their increasing applications in various end-use industries, these include telecom that is on the rise and are additionally boosted with the increased demand from leading edge lighting solutions. For instance, electronics sectors, such as consumer electronics, medical & healthcare, and military & aerospace, have been witnessing rising demand for power supplies, which is expected to generate profitable growth opportunities for the power supplies market during the period between 2020 and 2030. The trend of high-voltage direct current (HVDC) system and the need for energy-efficient solutions provide new opportunities for market growth.

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Segmentation Analysis

Market segmentation of Power Supply Market by output power, product type, and verticals.

by Output Power:

Segmenting the market into low (≤ 500 W), medium (500–1,000 W), and high (more than 1,000 W) output power sectors, Based on technology segment, the low output power segment is projected to register the highest CAGR from 2018 to 2023, due to the proliferation of low output power used for consumer electronics and telephony applications.

by Product Type:

It oversees AC-DC and DC-DC power supplies on the market. By type, AC-DC power supplies are expected to capture a majority of the market share owing to their wide range of applications in various industries. They are used widely in everyday personal electronic devices, from TVs to gaming consoles, which all rely on converting outlet based counterparts from AC to DC power that electronics can utilize.

by Verticals:

This market is divided into sectors like industrial, transportation, aerospace and defence, healthcare, consumer electronics, telecommunication, and others. The rise in the number of electronic devices, along with an expansion of the telecommunication sector which will also grow significantly, will make a large impact on the growth of the consumer electronics and telecommunication markets.

Regional Insights

Regional, the market is split into North America, Europe, Asia pacific, Middle East & Africa and South America.

Asia Pacific:

The rapid industrialization, urbanization, and the growing adoption of consumer electronics will fuel the demand for the market in this region thus estimated to be the fastest-growing market during the forecast period. The growth of the market in this region is mainly driven by countries like China, India, and Japan.

North America:

This region accounts for a considerable share of the market owing to its significant number of major market players along with early adoption of novel technologies. Surge in demand for energy-efficient power supplies in industrial and healthcare sectors, positively impacting the overall growth of global industrial power supply market.

Europe:

In this region, demand for advanced power supply systems is driven by a focus on sustainable energy solutions and stringent regulatory standards. Leading contributors to the market growth in Europe include Germany, France, and the UK.

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Competitor Analysis

The power supply market is competitive in nature, and prominent players in the market are focusing on technological advancements and strategic collaborations to strengthen their positions in the power supply market. Prominent businesses in this segment feature

Schneider Electric: Schneider Electric is a global specialist in energy management and automation, delivering a broad portfolio of energy-efficient power solutions, while driving innovations in energy technology to help their clients make the most of their energy.

DELTA ELECTRONICS, INC.: Delta Electronics provides power and thermal management solutions, including a broad range of power supply products, to customers in the automotive, telecommunication, industrial, and other markets.

TDK-Lambda Corporation — TDK-Lambda, a global leader in power supplies, delivers innovative solutions for industrial and medical facilities.

More about XP Power: XP Power is a leading provider of high-performance power solutions to the electronics industry with an extensive portfolio of power solutions.

COSEL Co., Ltd. — COSEL power supply products are known for their high quality and are used in a range of markets including industrial and healthcare.

Growth of research and development activities from these companies to launch two generations of more efficient and advanced power supply solutions to fulfill the dynamically changing energy demands from industries is also going to drive the market.

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Conclusion

The demand for energy-efficient devices and growth in technology will be one of the key drivers for the global power supply market growth in the coming years. The transformation in the industries coupled with their need for the reliable and efficient supply for the power supply system will continue to create lucrative growth opportunities for the key players operating in the global power supply market.

Explore More: Visit our website for Additional reports:

HVDC Power Supply Market https://www.maximizemarketresearch.com/market-report/global-hvdc-power-supply-market/116954/ 

AC to DC Power Supply Adapter Market https://www.maximizemarketresearch.com/market-report/global-ac-to-dc-power-supply-adapter-market/116479/ 

Switched-Mode Power Supply Transformer Market https://www.maximizemarketresearch.com/market-report/switched-mode-power-supply-transformer-market/113689/ 

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