North American industrial power supply market is estimated to grow at a CAGR of 5.0% during the forecast period. The major factors encouraging the market growth include the growing aerospace and defense sector and the increasing telecom and IT sector in the region. The region is significantly focused on modernizing military infrastructure and thereby invests highly in military expenditure. For instance, according to the Stockholm International Peace Research Institute (SIPRI), the US military expenditure increased for the first time in seven years to reach $649 billion in 2019, which makes it the world’s largest military spender. The US represented 36% of total global military spending in 2019. This results in an increasing demand for military land vehicles which significantly require ultra-reliable power supplies for mission-critical electrical equipment. Military vehicles use a nominal 28 V power supply system and much of MIL-STD-1275 which needs ensuring such systems can handle transient surges and spikes.
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The market is segmented based on material and vertical. Based on product type, the market is classified into AC-DC converter, DC-DC converter, and DC-AC inverter. Based on vertical, the market is classified into food and beverage, energy and utilities, telecom & IT, transportation, consumer electronics, aerospace and defense, healthcare, and others. The growing telecom and IT sector are one of the major factors accelerating market growth. The significant presence of major telecom & IT firms such as IBM Corp., Microsoft Corp., and Oracle Corp. are supporting to drive the market growth. This leads to an increasing demand for DC-DC converter modules that meets the emerging power needs of telecommunications infrastructure equipment and high-reliability networking.
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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
North American 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
North America Industrial Power Supply Market– Segment by Country
- US
- Canada
The Report Covers
- Comprehensive research methodology of the North American industrial power supply market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the North American industrial power supply market.
- Insights about market determinants that are stimulating the North American industrial power supply market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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