Power Supply Market – Global Industry Size, Share, Trends, Opportunity and Forecasted, By Output Power (Low, Medium, High), By Type (AC-DC, DC-DC), By Vertical (Telecommunications, Consumer Electronics, Medical & Healthcare, Industrial), By Region and Competition 2018-2028F

A power supply is a sort of electrical device that provides power or energy to an electric load that needs it to operate and consume it. Power supplies are primarily used to monitor and adjust electrical power current and voltage so that the proper amount of energy can be delivered to the load. Some appliances have their power supply integrated into them, while others have a separate power supply unit. This design helps prevent electrical problems that may arise from power surges or other issues. By separating the power supply, the appliance can continue to function even if there is a problem with the power source. Additionally, integrating the power supply can help reduce clutter and make the appliance more compact.

Rising Power Supply Demand in Various Applications Such as in Industrial, Transportation, Aerospace & Defense Sectors

The rising demand for power supply by various end users that include healthcare, consumer electronics, telecommunication, and manufacturing industries is likely to propel the demand for power supply across the globe in the forecast period. Additionally, the growing demand for power supply in the transportation, aerospace & defense sector, and industries, etc. across the globe is likely to fuel the market of power supply in the forecast period. Various developing and developed countries such as the United States, France, Russia, India, Austria, Indonesia invest in their defense sector and security. For instance, Russia’s defense spending amounted to USD 1.5 billion in January 2023 and USD 10.25 billion in February 2023. Therefore, the demand for power supply is expected to rise in the upcoming years. Furthermore, a rising supply of AC-DC power sources is needed, with output voltages ranging from 0.1 W to thousands of watts and output powers from less than 1V to thousands of volts. For instance, In 2021, Saint-Laurent has replaced around 10,000 streetlamps with LEDs lights. Presently, approximately 90% of the streetlamps along Saint-Laurent's roads have been replaced with LEDs. This led to a rise in the demand for power supply. In addition, consumer electronics products such as smartphones are likely to propel the demand for the global power supply market in the upcoming years.

Top Driving Factors Enhance the Market of Power Supply in the Upcoming Years.

Rising Power Consumption

Growing Demand for Renewables Energy

Rising Demand for Data Centers

ChallengesVolatility in Raw Materials and Complex regulatory environment

The volatility in raw materials is one of the major challenges which is faced by the power supply market. Fluctuations in the prices of raw materials which are used in power supply manufacturing that include aluminum, electric components, and copper can majorly impact the profitability of manufacturing. Also, Russian Ukraine war impacts the rapid price changes that can distribute the supply chain and rise the production costs which is likely to affect the market of power supply in the upcoming years. Additionally, the complex regulatory environment is a major challenge in the power supply market. The power supply industry is subject to a number of laws and norms on environmental effects, energy efficiency, and safety. These laws can be difficult to comply with and time-consuming, which raises the cost of production for businesses and potentially affects power supply market growth in the upcoming years.

Recent Development

• In February 2022, Mitsubishi Electric Corporation stated that its US subsidiary Mitsubishi Electric Power Products, Inc. (MEPPI) has acquired California-based Computer Protection Technology, Inc. (CPT) to expand its UPS business in North America. MEPPI and CPT intend for this deal to strengthen their individual business models and provide highly dependable and knowledgeable one-stop services for UPS systems in the North American market, including installation and maintenance.
• In November 2021, Long-Life DIN Rail Mounted 240W and 480W Uninterruptible Power Supplies were introduced by Emerson Electric Co. The service life of the ultra-dependable SolaHD SDU DC-B UPS control module is 15 years.
• In October 2021, Schneider Electric's new 5kW APC Smart-UPS Ultra was the latest ground-breaking innovation to solve problems with hybrid IT infrastructure. The most recent single-phase UPS on the market is the lightest single-phase 5kW unit because of EcoStruxure for remote monitoring, administration, and services.
• In 2020, TRC Electronics, a North American power supply distributor, and XP Power enter a distribution deal. The new partnership enabled the specialized stocking distributor for providing XP Power's whole product line to the industrial electronics, healthcare, and technology and equipment sectors for semiconductor production across North America.
• In September 2021, A brand-new line of AC-DC power supply for medical applications, the Polytron Devices PFMUIC700 Series, was made & available by New Yorker Electronics. The Polytron PFMUIC700 series comes in a completely enclosed plastic container and is just 6.7 x 3.66 x 1.61 inches (170.2 x 93.0 x 41.0mm) in size. additionally, 12V, 15V, 24V, 28V, and 48V power supplies in the 700W series were launched.
• In December 2021, The MEA-090A, a new 90W output model, has been added by Delta to their MEA Series Medical AC-DC desktop adapters. It has four output voltages of 12 V, 15 V, 19 V, and 24 V and is 20% smaller than the previous model. The MEA-090A satisfies Efficiency DoE Level VI and ErP Lot 7 requirements with upto 89% efficiency, no-load power consumption of 0.15 W, 115 Vac and 230 Vac input, touch current 0.1 mA (under standard conditions), and electric shock protection compliance with 2 x MOPP.
•  As of January 31, 2023, India had an installed power capacity of 411.64 GW, making it the third-largest producer and user of energy globally. India had an increase of 10.08% YoY with electricity output (including renewable sources) of 1,359.21 BU up to January 2023 in the current fiscal year FY23. The Ministry of Electricity’s statistics shows that India's electricity consumption climbed 11% YoY to 121.19 BU in December 2022. The Essar Group, which has its headquarters in Mumbai, has also established the Essar Energy Transition (EET), with the aim of investing a total of USD 3.6 billion in the development of a variety of low-carbon energy transition projects over the course of the upcoming years. This led to an increase in the demand for power supply in the forecast period.

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Market Segmentation

The Global Power Supply Market is divided

Market Players

Major market players in the Global Power Supply Market