The Global Power Supply Market
The power supply market was estimated to be around $29,578 Million in 2019 and is projected to grow to $42,543 Million by 2027; a calculated annual growth rate of 4.73%. This market growth is set to increase because of home and building automation systems potentially reducing a buildings energy footprint. Better lighting systems and a high demand for energy efficient appliances is also aiding this growth.
The market is divided into AC-DC and DC-DC with AC-DC dominating the marketplace simply due to mains power requiring DC conversion for general home and business usage. However, the DC power supply market is incrementally increasing sector size due to the growing demand for energy-efficient DC Power Supplies; demand has soared for devices that can provide efficiencies of more than 90%. DC renewable sources are currently being mounted on new buildings and through having no conversion losses devices are becoming a preferred highly efficient method for supplying power.
The power supply market by market type shows the largest growth by far is from telecommunications which is being fuelled by smart phones and IP devices driving the need for advanced networks and network coverage. The power supply market size by geography shows that the Asia-Pacific region has the biggest market size which is double that of North America, which in turn is double the size of Europe. If all of the other countries not mentioned so far was compared to Europe, they would only have half of the market size of Europe.
Home Specialist Markets
The 3D printing, home robotics and ‘Maker’ community have increase substantially over previous years. These devices use industrial power supplies and either added into opensource designs that the individual builds or purchases from a vendor pre built. While this has led to more sales from power supply vendors, it has also increased home or SME sales of professional and prosumer models. This sector is continuing to increase due to the desire for individuals to have ‘desktop’ equivalents of industrial engineering equipment, current product entries include desktop waterjet cutters, laser cutters, 3D scanners and CNC machines. This is helping increase sales of low power units.
HVDC Devices
In the next five years it is expected that the calculated annual growth rate for AC-DC market share will rise with DC-DC power supplies proportionally, however DC-DC will increase segment size slightly. This is due to the number of measurement and testing platforms using DC-DC increasing in the medical and industrial equipment sectors. This is good news for the DC market, however regional safety standards and regulatory compliance will reduce growth rates in this sector for high voltage direct current (HVDC) devices.
High Power Output Leading the Market Share
Out of low (Up to 10 kW), medium (10–100 kW), and high (100–250 kW) output DC power supplies it is predicted that high output units will have a higher calculated annual growth rate than others due to their use in automotive testing equipment, aerospace, and military applications. Interestingly as high output power supplies have features such as broad voltage current range, enhanced design, and high frequency, the necessity to test the products that undergo harsh and extreme environments is driving growth in the AC-DC market for alternatives.
Conclusions
The next few years of predicted growth is occurring proportionally and at a steady rate. It is highly likely that this will allow both the DC-DC and AC-DC power supply sectors to be lucrative as long-term investments. In terms of usage the AC-DC home project or hobby market is growing traction and utilise industrial power supplies to feed these projects, along with professional and prosumer manufactured alternatives benefiting users through pre-constructed convenience. DC-DC is growing due to renewable inputs such as solar cells generating DC power while also having higher efficiencies than AC-DC systems being of interest for future devices.
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