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According to a report released by Markets and Markets, an international market research institution, the global industrial power supply market is expected to reach $7 billion by 2021, and this data will increase to $9.
7 billion by 2026, with a compound growth rate of 6.
9%.
Increasing demand for energy-efficient equipment in the industrial sector and global adoption of electric vehicles are the major factors
driving the steady growth of this market.
Based on product type, the market is segmented into AC-DC converters and DC-DC converters
based on product type.
In 2020, AC-DC converters accounted for a large share
of the industrial power supply market.
The growing demand for AC-DC power supplies for automotive charging and defense applications is driving the growth
of the AC-DC converter market.
Very low output (up to 500 W) is expected to dominate the industrial power supply market
by output power.
The very low output (up to 500 W) segment is expected to hold the largest share in 2021, and this trend is expected to continue during the forecast period
.
The increasing use of automation solutions and digital technologies in industries in China, India, and Japan is the major reason for
the growth of the industrial power supply market.
From a vertical perspective, transportation is expected to have a higher growth rate
in the industrial power supply market.
The transportation segment is expected to lead the market and is also expected to record a higher CAGR
.
In automotive applications, power supplies are used in high-performance EV charging stations, but also in electric vehicles (EVs) and hybrid electric vehicles (HEVs), converting DC power from on-board high-voltage batteries to lower DC power sources to power headlights, interior lights, wipers, window motors, fans, pumps, and many other systems
.
The growing demand for electric vehicles to reduce the overall carbon footprint is the main driver for vertical transportation in the industrial power supply market
.
From the perspective of regional market, Asia Pacific is expected to dominate the global industrial power supply market
.
The International Energy Agency reported that about 45% of electric vehicles on the road in 2018, totaling 2.
3 million, came from China, compared to 39%
in 2017.
Top EV manufacturers, such as SAIC, FAW, Dongfeng and other production bases located in China, require a large amount of power every year to meet testing requirements
.
In addition, the rise of industrial automation in countries such as India and Japan, as well as the stringent regulations and standards for the use of industrial electronics in developing countries such as China, Japan, and India, are also driving factors
for the growth of the industrial power supply market.
According to a report released by Markets and Markets, an international market research institution, the global industrial power supply market is expected to reach $7 billion by 2021, and this data will increase to $9.
7 billion by 2026, with a compound growth rate of 6.
9%.
Increasing demand for energy-efficient equipment in the industrial sector and global adoption of electric vehicles are the major factors
driving the steady growth of this market.
Based on product type, the market is segmented into AC-DC converters and DC-DC converters
based on product type.
In 2020, AC-DC converters accounted for a large share
of the industrial power supply market.
The growing demand for AC-DC power supplies for automotive charging and defense applications is driving the growth
of the AC-DC converter market.
Very low output (up to 500 W) is expected to dominate the industrial power supply market
by output power.
The very low output (up to 500 W) segment is expected to hold the largest share in 2021, and this trend is expected to continue during the forecast period
.
The increasing use of automation solutions and digital technologies in industries in China, India, and Japan is the major reason for
the growth of the industrial power supply market.
From a vertical perspective, transportation is expected to have a higher growth rate
in the industrial power supply market.
The transportation segment is expected to lead the market and is also expected to record a higher CAGR
.
In automotive applications, power supplies are used in high-performance EV charging stations, but also in electric vehicles (EVs) and hybrid electric vehicles (HEVs), converting DC power from on-board high-voltage batteries to lower DC power sources to power headlights, interior lights, wipers, window motors, fans, pumps, and many other systems
.
The growing demand for electric vehicles to reduce the overall carbon footprint is the main driver for vertical transportation in the industrial power supply market
.
From the perspective of regional market, Asia Pacific is expected to dominate the global industrial power supply market
.
The International Energy Agency reported that about 45% of electric vehicles on the road in 2018, totaling 2.
3 million, came from China, compared to 39%
in 2017.
Top EV manufacturers, such as SAIC, FAW, Dongfeng and other production bases located in China, require a large amount of power every year to meet testing requirements
.
In addition, the rise of industrial automation in countries such as India and Japan, as well as the stringent regulations and standards for the use of industrial electronics in developing countries such as China, Japan, and India, are also driving factors
for the growth of the industrial power supply market.
