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 ($207) by nearly 30 times.
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Additionally, favorable government initiatives to support small and medium enterprises (SMEs) are also contributing to driving industrialization across countries including India, China, and others. In April 2019, China launched a guideline to support the sound development of SMEs. The guideline aims for more attention to the problems hindering further growth of SMEs, including inadequate innovation capability, rising costs, and financing difficulties. This, in turn, is contributing to the growth of the manufacturing sector and thereby accelerating the industrialization process. Industrial automation is gaining significance coupled with the increasing focus on boosting manufacturing capabilities.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Industrial Power Supply Market– Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ 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.
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