Vancouver, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The global Alternating Current-Direct Current (AC-DC) power supply adapter market size was USD 11.16 Billion in 2022 and is expected to register a revenue CAGR of 7.9% during the forecast period, according to the latest analysis by Emergen Research. Rapid expansion of electric vehicles across the globe is a major factor driving market revenue growth.
Revenue growth of the Alternating Current-Direct Current (AC-DC) power supply adapter market is driven by global adoption of Electric Vehicles (EVs). The electric vehicle market is experiencing remarkable growth, with sales surpassing 10 million in 2022. The proportion of electric cars in total sales has more than tripled in just three years, rising from approximately 4% in 2020 to 14% in 2022. This momentum is expected to continue in 2023, with strong sales expected to persist. In the first quarter of 2023, over 2.3 million electric cars were sold, marking a significant 25% increase compared to the same period the previous year.
The outlook for the entire year remains promising, with an estimated 14 million electric car sales by the end of 2023, representing a notable 35% year-on-year surge. This growth is expected to accelerate further in the second half of the year as new purchases continue to rise. The demand for the infrastructure needed to allow charging for electric vehicles is rising as their uptake soars. Adapters for converting alternating current from the grid to direct current needed to charge an electric vehicle's batteries are crucial parts of EV charging stations. In addition, there is a rising demand for portable charging options including home charging units and portable chargers that use AC-DC power supply adapters due to the popularity of electric vehicles. The automotive industry's rapid shift toward electric mobility is consequently spurring investments in charging infrastructure, thus creating a high demand for AC-DC power supply adapters globally and driving substantial revenue growth for companies operating in this market.
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In addition, the transition to Gallium Nitride (GaN) technology is playing a crucial role in driving revenue growth of the Alternating Current-Direct Current (AC-DC) power supply adapter market. GaN technology offers several advantages over conventional Silicon-based power supply adapters, making it a highly sought-after solution. GaN-based adapters exhibit higher power efficiency, enabling reduced energy consumption and heat generation, which translates to cost savings for consumers and businesses. In addition, GaN technology allows for higher power density and miniaturized designs, catering to rising demand for compact and portable electronic devices. In July 2023, Bel Fuse Inc is broadening its range of EOS power supplies by unveiling the EPG300 and EPG500 series of AC-DC power supplies. These new additions utilize a cutting-edge design incorporating Gallium Nitride (GaN) technology, which offers enhanced efficiency and performance.
However, technological complexity and obsolescence present challenges that restrain revenue growth of the Alternating Current-Direct Current (AC-DC) power supply adapter market. As electronic devices and applications become more advanced and diverse, the demand for power supply adapters that can meet specific and intricate requirements also rises. Manufacturers are faced with the challenge of developing adapters that can keep up with rapidly evolving technologies, making it difficult to strike a balance between innovation and cost-effectiveness.
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Scope of Research
| Report Details | Outcome |
| Market size in 2022 | USD 11.16 Billion |
| CAGR (2023–2032) | 7.9% |
| Revenue forecast to 2032 | USD 23.88 Billion |
| Base year for estimation | 2022 |
| Historical data | 2019–2021 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, input voltage, output power, package type, application, and region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
| Key companies profiled | STMicroelectronics, TDK Corporation, Advantech, Infineon Technologies, Microchip Technology Inc., Murata Manufacturing Co., Ltd., Texas Instruments, XP Power, Artesyn Embedded Power, Vicor Corporation, Mornsun Guangzhou Science & Technology Co., Ltd., and Recom Power |
| Customization scope | 10 hours of free customization and expert consultation |
Major Companies and Competitive Landscape
The global Alternating Current-Direct Current (AC-DC) power supply adapter market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective AC-DC power supply adapters. Some of the major companies included in the global Alternating Current-Direct Current (AC-DC) power supply adapter market report are:
- STMicroelectronics
- TDK Corporation
- Advantech
- Infineon Technologies
- Microchip Technology Inc.
- Murata Manufacturing Co., Ltd.
- Texas Instruments
- XP Power
- Artesyn Embedded Power
- Vicor Corporation
- Mornsun Guangzhou Science & Technology Co., Ltd.
- Recom Power
Strategic Development
- On 14 December 2022, Chicony Power joined forces with Texas Instruments (TI) to introduce their latest 65W laptop power adapter called ‘Le Petit,’ which incorporates TI's GaN technology. By utilizing TI's half-bridge GaN FET with an integrated gate driver, LMG2610, Chicony Power has successfully reduced the size of their 65W power adapter by 50% and achieved an impressive up to 94% power efficiency, surpassing other 65W adapters available in the market. This collaboration sets a new standard for the laptop power industry. Chicony Power opted to partner with TI due to their expertise in high-voltage design and advanced integrated GaN technology.
- On 01 March 2022, TDK Corporation unveiled new high-power solutions for their TDK-Lambda GENESYS+ series of programmable DC power supplies. The latest addition includes 20U high, 19-inch rack cabinets that offer 30kW, 45kW, or 60kW of output power. These cabinets are highly configurable and allow for smooth transitions between constant voltage, constant current, and constant power limit operating modes. Additionally, they come equipped with lockable castors (wheels) to facilitate easy repositioning within research or production facilities.
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Some Key Highlights from the Report
- The AC-DC mountable power supply adapter segment is expected to register a steady revenue growth rate over the forecast period due to the rising adoption of these adapters in industrial automation, telecommunications, data centers, medical equipment, and consumer electronics. These adapters are designed to be easily mounted on different surfaces or enclosures, making them suitable for integration into a wide range of electronic devices and systems. The ability to mount the adapter securely saves valuable space and simplifies installation, particularly in compact and space-constrained environments.
- The automotive segment is expected to account for a significantly large revenue share over the forecast period due to the increasing electrification and technological advancements in vehicles in recent years. The need for a stable and efficient power supply becomes critical as modern vehicles incorporate more electronic components, sensors, infotainment systems, and Advanced Driver Assistance Systems (ADAS). AC-DC power supply adapters play a crucial role in converting alternating current from the vehicle's electrical system to the direct current required to power these electronic components.
- The market in North America accounted for largest revenue share in the global Alternating Current-Direct Current (AC-DC) power supply adapter market in 2022 due to the rising adoption and usage of electronic devices in countries, particularly in the United States and Canada. The Consumer Technology Association (CTA) reported a significant milestone in January 2022, with retail revenue from consumer technology in the U.S. reaching USD 505 billion. This achievement represented a notable 2.8% Year-Over-Year (YOY) increase from the previous year, fueled by strong sales in popular consumer electronics categories such as smartphones, wearable tech, and smart homes. The robust growth in consumer technology spending in North America contributed to the region's dominant position in the Alternating Current-Direct Current (AC-DC) power supply adapter market.
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Emergen Research has segmented the global Alternating Current-Direct Current (AC-DC) power supply adapter market on the basis of type, input voltage, output power, package type, application, and region:
- Type Outlook (Revenue, USD Billion; 2019-2032)
- AC-DC Wall Power Adapter
- AC-DC External Plug-in Power Adapter
- AC-DC Mountable Power Supply Adapter
- Others
- Input Voltage Outlook (Revenue, USD Billion; 2019-2032)
- < 24V
- 25-50V
- >50V
- Output Power Outlook (Revenue, USD Billion; 2019-2032)
- < 50W
- 50-100W
- 101-250W
- 251-500W
- 501-1000W
- >1000W
- Package Type Outlook (Revenue, USD Billion; 2019-2032)
- Open Frame
- Enclosed
- Rack Mount & Rectifiers
- DIN Rail
- PCB Mount
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Home Appliances
- Mobile Phones & Wearable
- Computers & Laptops
- Automotive
- Industrial Products
- Others
- Regional Outlook (Revenue, USD Billion; 2019–2032)
-
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
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