The global industrial power supply market is estimated to grow at a CAGR of 5.2% during the forecast period. Rising industrialization is a key factor boosting the adoption of power supply devices. As per the Center for International Knowledge on Development, China, in 2018, China’s industrial added value reached nearly $4,395.5 billion, 56.7 times compared to 1978, with an average annual growth rate of 10.6%. China is also supporting small and medium enterprises (SMEs) to further accelerate its economic position. For instance, in April 2019, China launched a guideline to support the sound development of SMEs.
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The guideline aims for more attention to the problems hindering further growth of SMEs, including inadequate innovation capability, rising costs, and financing difficulties. This results in an increasing demand for industrial power supplies that are destined for severe environments as they have a very small size and can withstand high temperatures. Some important parameters that need to consider while evaluating the reliability and quality of switching power supplies. These parameters comprise permissible operating temperature, efficiency, ambient temperature, thermal management, and derating curves for input voltage and bridging time in the event of a power failure.
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Scope of the Global 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
· Regions Covered- North America, Europe, Asia-Pacific, and Rest of the World
· Competitive Landscape- XP Power, ABB Ltd., Delta Electronics, Inc., Siemens AG, and TDK Corp.
Recent Strategic Initiatives in the Global Industrial Power Supply Market
· In January 2020, AEG Power Solutions declared the introduction of the new generation of Protect C and Protect D series of double-conversion online uninterruptible power supplies. The enhanced uninterruptible power supplies were designed to provide economic power and optimized protection in a more compact housing. These systems are appropriate for the protection of all kinds of critical applications, in the IT environment including IoT, storage systems, edge computing, servers, workstations, or electrical infrastructure in banking, corporate, healthcare, and industrial applications.
· 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.
Global 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
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
