The global industrial power supply market is estimated to grow at a CAGR of 5.2% during the forecast period. The major factors contributing to the market growth include rising industrialization and expansion of the telecom and IT sector. The growing manufacturing sector is supporting to drive the growth of the market. As per the United Nations Conference on Trade and Development (UNCTAD), in 2018, manufacturing value added per capita amounted to $5,922 at constant 2015 prices in developed economies. This per capita was nearly 4 times higher compared to developing Asia and Oceania ($1,388), 5 times higher compared to emerging Latin America and the Caribbean ($1,136), and six and a half times higher compared to the transition economies ($906). It surpassed the value in Africa ($207) by nearly 30 times. 

Additionally, favorable government initiatives to support small and medium enterprises (SMEs) are also contributing to driving industrialization across countries including India, China, and others. In April 2019, China launched a guideline to support the sound development of SMEs. The guideline aims for more attention to the problems hindering further growth of SMEs, including inadequate innovation capability, rising costs, and financing difficulties. This, in turn, is contributing to the growth of the manufacturing sector and thereby accelerating the industrialization process. Industrial automation is gaining significance coupled with the increasing focus on boosting manufacturing capabilities. 

Power supply acts as a basic component in the automated manufacturing process that needs safety protection functions and high stability. Delta Electronics offers the DVP series, the PMC/PMT panel mounting models, and the CliQ series DIN rail mounting models. According to the company, such models are highly stable and efficient industrial power supplies. From extended temperature ranges and ruggedized packaging for severe environments to high isolation voltages and high peak load capabilities for unique system needs, power supplies are suitable to address the requirement of its particular industrial application.

Market Segmentation

The market is segmented based on material and vertical. Based on product type, the market is classified into AC-DC converter, DC-DC converter, and DC-AC inverter. Based on vertical, the market is classified into food and beverage, energy and utilities, telecom & IT, transportation, consumer electronics, aerospace and defense, healthcare, and others.

Industrial Power Supply Finds Significant Applications in Consumer Electronics

The power supply is significantly utilized to deliver power to the electrical load. It is an essential device for diverse engineering-associated areas and appliances. Devices that deliver electrical power to a circuit, can be referred to as a power supply. Power supplies are utilized in engineering for delivering power to several electrical loads in diverse conditions. There are three common kinds of power supplies, including switching power supplies, linearly regulated power supplies, and unregulated power supplies. Ripple regulated power supply is another form of the power supply. Different kinds of power supplies are utilized to deliver power to different appliances and different circuits. In the consumer electronics sector, DC power supplies are switched-mode power supplies for personal computers and other electronics gears. Power supplies are available with functions including harmonic current control, overcurrent protection, overvoltage protection, and other features that range from supply to supply.

Global Industrial Power Supply Market Share by Vertical, 2019 (%)

Regional Analysis

Geographically, the market is classified into four major regions, including North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America industrial power supply market is significantly driven by the growing telecom & IT sector and expansion of the aerospace and defense sector. The US is the largest military spenders across the globe. According to the Stockholm International Peace Research Institute (SIPRI), the US military expenditure increased for the first time in seven years to reach $649 billion in 2019, which makes it the world’s largest military spender. The US represented 36% of total global military spending in 2019. This results in an increasing demand for military land vehicles which significantly require ultra-reliable power supplies for mission-critical electrical equipment. Therefore, rugged solutions can be offered with mechanical modifications for the protection of the power supply against humidity, shock, and vibration.

Global Industrial Power Supply Market Growth, by Region 2020-2026

Market Players Outlook 

Some prominent players in the market include XP Power, ABB Ltd., Delta Electronics, Inc., Siemens AG, and TDK Corp. Product launches and mergers and acquisitions are some pivotal strategies implemented by the market players to enhance their position in the marketplace. For instance, in March 2019, Siemens declared the expansion of its range of DC/DC converters by launching a new range of Sitop PSU3400 devices for the lower output range up to 120 watts. These new power supply units facilitate stable output voltage even with voltage fluctuations of +/-25%. The benefits for users comprise a high degree of efficiency of 92% and high safety during operation coupled with the wide input range with reverse polarity protection.

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global industrial power supply market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.