Switch Mode Power Supply Transformers Market Surges to Worth US$ 2,222.51 Million By 2030

New York, June 21, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Switch Mode Power Supply Transformers Market” published by Consegic Business Intelligence, the market was worth USD 1,721.65 Million in 2022 and is anticipated to reach over USD 2,222.51 Million by the year 2030, growing at a CAGR of 3.5%.

A switch mode power supply transformer is defined as a type of power converting device that is used to switch mode power supplies to transfer power to devices. The switch mode power supply transformers are designed to operate at frequencies ranging between 10 kHz to 1 MHz. The SMPS transformers are considered to be highly efficient hence are widely used in several industries including automotive, industrial automation, consumer electronics, and others.

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The switch mode power supply transformers are characterized with high efficiency and the ability to provide a regulated output voltage to electrical networks; hence they are widely used in consumer electronics including phone chargers, adapters, personal computers, refrigerators, laptop chargers and others. Additionally, the advantages of using switch mode power supply transformers in consumer electronics include compact size, efficient power usage, and flexible power conversion. Moreover, surge in trend towards e-leaning and online education coupled with rapid digital adoption across education institutes and schools is another factor that is boosting the adoption of devices such as laptops and tablets globally, which in turn is positively impacting the adoption of switch mode power supply transformers.

Furthermore, the switch mode power supply transformers play a vital role in converting DC power generated from solar panels to AC power. Thus, rising concerns regarding climate change is one of the key factors that is anticipated to fuel the adoption of solar panels in turn positively impacting the demand for switch mode power supply transformers. For instance, IEA (International Energy Agency) predicts renewable power capacity to increase by 75 % by 2027. Also, IEA predicts solar power to be the biggest source of energy by 2027. In addition, rising fossil fuel and electricity prices owing to the global energy crisis is making governments worldwide shift towards renewable source of energy. Therefore, surge in shift towards renewable energy sources is expected to drive the adoption of switch mode power supply transformers during the forecast period.

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Switch Mode Power Supply Transformers Market Growth Drivers:

• Growing consumer electronics industry is fueling the adoption of switch mode power supply transformers.
• Increasing adoption of industrial automation is driving the market growth.

Restraints

• Factors including complex design and high cost are restraining market growth.

Opportunities

• Surge in production and adoption of electric vehicles provides lucrative growth opportunities.
• Increasing government initiatives to shift towards renewable energy.

Global Switch Mode Power Supply Transformers Market Segmentation Details:

Based on Type, the isolated transformers is expected to grow with the fastest CAGR during the forecast period. The isolated transformers provide electrical isolation between the input and output circuits of the power supply. Increasing demand of isolated transformers for applications requiring galvanic isolation & safety such as medical equipment, industrial automation machinery, and others is anticipated to positive impact the segment growth during the forecast period.

Based on Product Type, the AC to DC segment contributed the largest shares to the market growth in 2022. The demand for AC to DC conversion SMPS transformers is driven by widespread adoption of electronic appliances, personal computers, telecommunication devices, and others. Additionally, the surge in trend towards remote working post pandemic is another key factor fueling the adoption of electronic devices including laptops and computers, in turn driving the demand for AC to DC conversion switch mode power supply transformers.

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Based on End User, the industrial automation segment is expected to grow with the fastest CAGR during the forecast period. The surge in trend towards shifting from manual to automated operations is one of the key factors fueling the demand for robots, in turn driving the adoption of switch mode power supply transformers. In addition, rising demand for robots across the manufacturing sector to synchronize the management, control, and production processes is another factor that is expected to boost the demand for robots during the forecast period.

Based on region, The North America region has been a major contributor to the growth of Switch Mode Power Supply Transformers market. The increasing adoption of industrial automation is driving the growth of the Switch Mode Power Supply Transformers market in the region. Moreover, the surge in trend towards gaming is fueling the demand for gaming laptops in the region, in turn boosting the adoption of Switch Mode Power Supply Transformers.

Recent Developments

• In May 2023, Wurth Elektronik launched a current sense transformer for the SMPS applications including consumer electronics and industrial automation among others.

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List of Major Global Switch Mode Power Supply Transformers Market Players

The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —

• TDK Corporation
• SUMIDA CORPORATION
• Würth Elektronik GmbH & Co. KG, Deutschland
• Pulse Electronics
• TAMURA Corporation
• Butler Winding
• Eaton
• Murata Manufacturing Co., Ltd.
• Coilcraft, Inc.
• Bourns, Inc.
• ICE Components, Inc.
• Goh Synergy Transformers Pte Ltd.
• Myrra
• TT Electronics
• Premier Magnetics Incorporated
• West Coast Magnetics

Global Switch Mode Power Supply Transformers Market Segmentation: 

• By Type

• Isolated Transformer
• Non-Isolated Transformer

• By Product Type
  • AC to DC
  • AC to AC
  • DC to AC
  • DC to DC
• By End User
  • IT & Telecommunication
  • Consumer Electronics
  • Automotive
  • Healthcare
  • Industrial Automation
  • Others

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Key Questions Covered in the Switch Mode Power Supply Transformers Market Report

• What is a switch mode power supply transformer?

- A switch mode power supply transformer is a type of transformer that is specifically designed for use in switch mode power supplies for transferring power to the industrial and commercial electronic networks.

• What will be the potential market valuation for the switch mode power supply transformers market industry by 2030?

- The market for global switch mode power supply transformers market is expected to reach USD 2,222.51 Million in 2030 growing at a CAGR of 3.5% due to the growing demand for consumer electronics and industrial automation.

• What specific segmentation details are covered in the switch mode power supply transformers market report, and how is the fastest segment anticipated to impact the market growth?

- The report consists of segments including type, product type, and end user. Each segment is projected to have the fastest-growing sub-segment, being fueled by industry trends and drivers. For instance, by type segment has witnessed non-isolated transformer as the dominating segment in the year 2022 due to the increasing demand for consumer electronics.

• Which region is anticipated to witness the highest CAGR during the forecast period, 2023-2030?

- The Asia-Pacific region is anticipated to witness fastest CAGR growth during the forecast period due to the increasing adoption of industrial automation and electric vehicles in the region.

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