Dublin, Nov. 27, 2024 (GLOBE NEWSWIRE) -- The "Power Supply - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Power Supply was estimated at US$38.5 Billion in 2023 and is projected to reach US$56.5 Billion by 2030, growing at a CAGR of 5.6% from 2023 to 2030.
The growth in the power supply market is driven by several factors, including rapid technological advancements, evolving industry requirements, and shifts in consumer behavior. One of the primary drivers is the increasing demand for renewable energy systems and electric vehicles, both of which require efficient and reliable power supply solutions. As global efforts to reduce carbon emissions intensify, the adoption of solar, wind, and other renewable energy sources is accelerating, creating a need for advanced power converters and inverters that can efficiently manage energy from variable sources.
Similarly, the electric vehicle market is expanding rapidly, and with it, the demand for high-efficiency, fast-charging power supply systems is growing. Another key growth driver is the proliferation of data centers and the rise of high-performance computing, driven by the surge in cloud computing, AI applications, and the growing reliance on digital infrastructure. These data centers require power supply systems that can support massive energy loads while minimizing energy waste, creating opportunities for innovation in high-efficiency power supply technologies.
Additionally, the trend toward decentralization of energy systems, such as microgrids and distributed energy resources (DERs), is contributing to market growth by requiring specialized power management solutions that are more flexible and adaptable to diverse energy environments. Finally, the increasing integration of IoT devices, smart grids, and other digital technologies in industrial automation, healthcare, and telecommunications is driving the need for smarter, more connected power supply systems that can meet the complex energy demands of modern applications. This convergence of technology, sustainability, and consumer demand is shaping the future of the global power supply market.
What Are The Key Developments Shaping The Power Supply Industry?
With technologies such as the Internet of Things (IoT), artificial intelligence (AI), and machine learning becoming more pervasive, the power supply market is evolving to offer solutions that integrate seamlessly with these advanced systems. The miniaturization of components, along with the growing need for compact, modular, and adaptable power solutions, is further influencing the design and deployment of power supply units in areas like electric vehicles (EVs), renewable energy, and data centers. As the demand for electronic devices continues to grow, the power supply market is responding by offering more efficient and powerful solutions to meet the evolving needs of these industries.
How Is The Rise Of Digitalization Impacting The Power Supply Market?
The rise of 5G networks and edge computing is also creating a demand for power supplies that can handle the high-speed, data-intensive nature of these technologies. Moreover, advancements in semiconductor materials, particularly the adoption of gallium nitride (GaN) and silicon carbide (SiC), are revolutionizing the performance capabilities of power supplies. These materials allow for greater energy efficiency, higher power densities, and faster switching frequencies, making them ideal for applications where compact size and high performance are essential, such as electric vehicles, renewable energy systems, and consumer electronics. As industries continue to digitize, the need for smarter, more adaptable, and energy-efficient power supply solutions is becoming increasingly apparent.
What Is The Role Of Energy Efficiency And Sustainability In The Power Supply Sector?
Sustainability and energy efficiency are becoming central pillars in the development of power supply solutions, driven by both regulatory pressures and changing consumer preferences. Governments worldwide are implementing stricter energy efficiency standards and regulations aimed at reducing energy consumption and minimizing carbon footprints. This trend is particularly evident in sectors like renewable energy, electric mobility, and data centers, where the need for highly efficient power supplies is paramount. For instance, renewable energy systems such as solar panels and wind turbines require advanced power inverters that can efficiently convert and manage energy from variable sources.
Electric vehicles and their charging infrastructure also demand power supply units that are lightweight, highly efficient, and capable of handling rapid energy transfer to reduce charging times. The rise of energy efficiency certifications, such as the U.S. Department of Energy (DOE) standards and the European Union's Eco-design Directive, is pushing manufacturers to innovate and create more energy-efficient products that comply with these regulations.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Low Output Power Supply segment, which is expected to reach US$32.4 Billion by 2030 with a CAGR of a 6.0%. The Medium Output Power Supply segment is also set to grow at 5.3% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $10.2 Billion in 2023, and China, forecasted to grow at an impressive 8.5% CAGR to reach $12.9 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Power Supply Market such as Acbel Polytech, Acopian, Artesyn, Cosel, CUI and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 93 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $38.5 Billion |
| Forecasted Market Value (USD) by 2030 | $56.5 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Power Supply - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Increasing Demand for Energy-Efficient Power Supplies Spurs Growth in Industrial and Consumer Electronics
- Rapid Expansion of Data Centers and Cloud Computing Infrastructure Drives Need for Reliable Power Supply Solutions
- Growth in Electric Vehicle (EV) Adoption Propels Demand for High-Efficiency Power Supply Units in Charging Infrastructure
- Rising Adoption of Renewable Energy Systems Expands Addressable Market for Power Supplies in Solar and Wind Power Applications
- Proliferation of IoT Devices and Smart Home Technologies Generates Strong Demand for Low-Power, Efficient Power Supply Units
- Miniaturization in Consumer Electronics and Portable Devices Drives Innovation in Compact Power Supply Solutions
- Transition to 5G Networks Accelerates Demand for Advanced Power Supply Solutions in Telecommunications Infrastructure
- Global Focus on Energy Conservation and Sustainability Propels Growth in Eco-Friendly, Low-Emission Power Supplies
- Increasing Demand for Backup Power Systems in Industrial Automation Spurs Adoption of Uninterruptible Power Supplies (UPS)
- Growth in Autonomous Vehicles and Drones Throws the Spotlight on High-Performance, Lightweight Power Supplies
- Rising Incidence of Power Grid Instabilities Drives Need for Power Supply Solutions with Voltage Regulation and Surge Protection
- Growing Trend Toward Modular Power Supplies Strengthens the Business Case for Flexible, Scalable Solutions in Multiple Sectors
FOCUS ON SELECT PLAYERS:Some of the 37 companies featured in this Global Power Supply Market report include
- Acbel Polytech
- Acopian
- Artesyn
- Cosel
- CUI
- Delta Electronics
- FSP
- General Electric
- LITE-ON Power System Solutions
- Mean Well
- MTM Power
- Murata Power Solutions
- Phoenix Contact
- Power Innovation
- Power Systems & Controls
- Puls
- Salcom
- Siemens
- TDK Lambda
- XP Power
For more information about this report visit https://www.researchandmarkets.com/r/21678x
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