According to the new market research "Power Supply Market
by Output Power, Product Type, Vertical (Lighting, Consumer
Electronics, Telecommunications, Transportation, Food & Beverages,
Medical & Healthcare, Military & Aerospace, Industrial), and
Geography - Global Forecast to 2023", the power supply market,
the overall market is estimated to grow from USD 25.20 billion in 2018
to USD 34.92 billion by 2023, at a CAGR of 6.7% from 2018 to 2023.
Growing adoption of home and building automation systems, emerging
telecommunications sector, and increasing demand for energy-efficient
devices/appliances services are the key factors driving the power supply
market growth.
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Power supply with low output power expected to account for largest market size in 2018
Power
supply with low output power is expected to hold the largest size of
the power supply market in 2018. This can be attributed to the
increasing use of AC-DC power supplies with low output power in
lighting, telecommunications, and consumer electronics. Moreover,
various industrial applications, such as home and building automation
systems, operate in this power range due to the benefits such as reduced
power control system size, weight, and cost; this also makes the
consumption of electricity more efficient. Hence, owing to the
increasing demand for energy-efficient devices/appliances and
advancements in telecommunications and medical sectors will upsurge the
growth of power supplies with low output power.
AC-DC power supply to grow at highest CAGR during forecast period
AC-DC
is the fastest-growing type of power supply, owing to its wide usage in
industrial and medical & healthcare applications. There are a wide
variety of AC-DC power supplies that can have an output voltage from
less than 1 V to thousands of volts and output power ranging from 1 W to
thousands of watts. Various types of AC-DC power supplies such as
enclosed/encapsulated, DIN rail, open frame, PCB mount, configurable,
and others (panel mount, specific purpose, chassis mount, front end
type, and external type power supplies) are utilized mainly in lighting,
industrial, and consumer electronics applications.
APAC to dominate power supply market during forecast period
The
power supply market in APAC is expected to grow at the highest CAGR
during the forecast period owing to the increasing demand for consumer
equipment, such as portable healthcare electronics and white goods.
Increasing digitization and automation in various sectors is likely to
generate demand for power supplies in APAC.
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Major
players operating in the power supply market include MEAN WELL
(Taiwan), TDK Lambda (Japan), Siemens (Germany), General Electric (US),
XP Power (US), Murata Power Solutions (Japan), Artesyn (US), Phoenix
Contact (Germany), Delta Electronics (Taiwan), Cosel (Japan), PULS
(Germany), CUI (US), Acbel Polytech (Taiwan), Salcom (Finland), LITE-ON
Power System Solutions (US), FSP (Taiwan), Power Innovation (Germany),
MTM Power (Germany), and Power Systems & Controls (US).
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