New York, United States , July 13, 2024 (GLOBE NEWSWIRE) -- The Global AC Power Sources Market Size is to Grow from USD 1.15 Billion in 2023 to USD 1.81 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.64% during the projected period.
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Alternating current (AC) energy is supplied via devices referred to as AC power sources, which provide a dependable power source for various applications. They work in a wide range of sectors, including telecommunications, automotive, aerospace and military, consumer electronics, and medical devices. AC power sources are required for testing and validating electronic devices and systems, as well as for powering sophisticated machinery and equipment. The market for AC power sources has expanded recently due to the increasing demand from various industries for stable and superior power sources. Another factor driving market development is the increasing usage of renewable energy sources, which calls for consistent and efficient AC power sources for energy conversion and storage. Concerns about climate change and the need to reduce carbon emissions have made energy efficiency and sustainability more and more significant on a global level. Energy-efficient AC power sources are becoming more and more in demand as awareness of the need to reduce energy use and its implications on the environment grows. Producers are responding to this need by developing more energy-efficient and sustainable power sources that meet stringent energy-efficiency standards. One of the main limitations of renewable energy generation is its intermittent nature, which can lead to issues with grid reliability and stability.
Browse key industry insights spread across 287 pages with 100 Market data tables and figures & charts from the report on the "Global AC Power Sources Market Size, Share, and COVID-19 Impact Analysis, By Phase Type (Single Phase and Three Phase), By Modulation Type (Linear AC Power Sources and PWM AC Power Sources), By Application (Aerospace & Defense, Automotive, Consumer Electronics, Medical Devices, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The single phase segment is anticipated to hold the greatest share of the global AC power sources market during the projected timeframe.
On the basis of phase type, the global AC power sources market is segmented into single phase and three phase. Among these, the single phase segment is anticipated to hold the greatest share of the global AC power sources market during the projected timeframe. Single-phase AC power sources are a trustworthy and reasonably priced energy source.
The linear AC power sources segment is anticipated to grow at the fastest pace in the global AC power sources market during the projected timeframe.
On the basis of modulation type, the global AC power sources market is segmented into linear AC power sources and PWM AC power sources. Among these, the linear AC power sources segment is anticipated to grow at the fastest pace in the global AC power sources market during the projected timeframe. This growth is being driven by the growing demand for stable, superior power sources in many industries.
The consumer electronics segment is predicted to grow at the highest pace in the AC power sources market during the estimated period.
On the basis of application, the global AC power sources market is segmented into aerospace & defense, automotive, consumer electronics, medical devices, and others. Among these, the consumer electronics segment is predicted to grow at the highest pace in the AC power sources market during the estimated period. Consumer electronics encompass a wide range of devices, such as PCs, gaming consoles, televisions, and mobile phones. The fact that these devices are powered and charged by AC power sources ensures that they will function correctly and efficiently.
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Asia Pacific is expected to hold the largest share of the global AC power sources market over the forecast period.
Asia Pacific is expected to hold the largest share of the global AC power sources market over the forecast period. The region's notable industrialization, which has increased the need for stable and high-quality power sources across a range of enterprises, is one of the primary reasons for this. Furthermore, the region's growing population and urbanization have raised consumer demand for electronics, which has driven the growth of the market for AC power sources there. Another reason for the Asia-Pacific region's dominance in the market for AC power sources is the rising use of renewable energy sources like solar and wind power.
North America is predicted to grow at the fastest pace in the global AC power sources market during the projected timeframe. North America is a key hub for technical advancements since most multinational firms, such as Apple Inc., Valero Energy, Ford, General Motors, and Boeing, have based their R&D and production operations there. Innovations in consumer electronics, aerospace & military, and electric vehicles are driving the North American market for AC power sources.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global AC Power Sources Market include Keysight Technologies, Chroma ATE, AMETEk Inc., Pacific Power Source, Matsusada Precision, Kikusui Electronics Corporation, Good Will Instrument, REGATRON, AC Power Corp., B&K Precision Corporation, Ainuo Instruments, Orbit International Corp., Ikonix Corporation, Newtons4th Ltd., Aplab Limited, and others.
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Recent Developments
- In November 2021, For EVSE testing, Chroma produced the Chroma 61800-100 Regenerative Grid Simulator, a 105 kVA high-power AC power supply system.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the Global AC Power Sources Market based on the below-mentioned segments:
Global AC Power Sources Market, By Phase Type
- Single Phase
- Three Phase
Global AC Power Sources Market, By Modulation Type
- Linear AC Power Sources
- PWM AC Power Sources
Global AC Power Sources Market, By Application
- Aerospace & Defense
- Automotive
- Consumer Electronics
- Medical Devices
- Others
Global AC Power Sources Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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