Rising Military Spending to Drive the Asia-Pacific Industrial Power Supply Market

Asia-Pacific industrial power supply market is estimated to grow at a CAGR of 6.8% during the forecast period. Rising military spending is one of the major factors accelerating market growth. As per the Stockholm International Peace Research Institute (SIPRI), in 2019, China and India held the second-and third-largest position regarding military spending across the globe. In 2019, military spending in China reached $261 billion, which represents a 5.1% rise over 2018, while military spending in India increased by 6.8% to $71.1 billion. Political tensions and rivalry of India with both Pakistan and China are some drivers for its enhanced military spending. 

Browse the full report description of "Asia-Pacific Industrial Power Supply Market Size, Share & Trends Analysis Report, By Product Type (AC-DC Converter, DC-DC Converter, and DC-AC Inverter), By Vertical (Food and Beverage, Telecom & IT, Transportation, Energy and Utilities, Consumer Electronics, Aerospace and Defense, Healthcare, and Others) and Forecast, 2020-2026" at https://www.omrglobal.com/industry-reports/asia-pacific-industrial-power-supply-market

Apart from China and India, military spending in Japan and South Korea was $47.6 billion and $43.9 billion, respectively in Asia and Oceania. This leads to increasing demand for military ground vehicles which significantly need power supplies that are ultra-reliable for mission-critical electrical devices. Therefore, rugged solutions can be offered with mechanical modifications for the protection of the power supply against humidity, shock, and vibration. 

Scope of the Asia-Pacific Industrial Power Supply Market

Market Coverage

• Market number available for 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered- By Product Type and Vertical
• Countries Covered- China, India, Japan, and Rest of Asia-Pacific
• Competitive Landscape- ABB Ltd., TDK Corp., Siemens AG, XP Power, Delta Electronics, Inc., and COSEL Co., Ltd.

Recent Strategic Initiatives in the Asia-Pacific Industrial Power Supply Market

• In January 2019, TDK Corp. declared that TDK's wholly-owned subsidiary TDK-Lambda Corp. acquired Nextys SA, which will operate as a wholly-owned subsidiary of TDK-Lambda. Nextys is engaged in the designing and production of a broad portfolio of DIN rail power supplies and accessories. These power supplies and accessories complement the product portfolio of TDK-Lambda. With the acquisition, TDK-Lambda will reinforce its position in the marketplace in the field of DIN rail power supply business.
• In June 2018, Cosel Co, Ltd. acquired the Powerbox Group. Powerbox Group has design centers in Germany, Sweden (HQ), and the Netherlands as well as offices all over Europe, the US, Australia, and China. Powerbox is engaged in the design & manufacturing of power supplies for different sectors such as transportation, industrial, medical, and defense. 

Key questions addressed by the report

• What is the market growth rate?
• Which segment dominates the market in the base year?
• Which segment will project the fastest growth in the market?
• How COVID-19 impacted the market?

o Recovery Timeline

o Deviation from the pre-COVID forecast

o Most affected segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Asia-Pacific Industrial Power Supply Market-Segmentation

By Product Type

• AC-DC Converter
• DC-DC Converter
• DC-AC Inverter

By Vertical

• Food and Beverage
• Energy and Utilities 
• Telecom & IT
• Transportation
• Consumer Electronics
• Aerospace and Defense
• Healthcare
• Others

Asia-Pacific Industrial Power Supply Market– Segment by Country

• China
• India
• Japan
• Rest of Asia-Pacific

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