The overall power supply market is expected to be worth USD 34.92 billion by 2023, growing at a CAGR of 6.7% from 2018 to 2023. Increasing adoption of home and building automation systems, emerging telecommunications sector, and rising demand for energy-efficient devices/appliances are driving the power supply market growth. Also, the increasing usage of power supplies for various lighting applications will drive the need for AC-DC and DC-DC power supplies in the coming years. Along with lighting, industrial and consumer electronics are the key verticals driving the power supply market.
Key strategies adopted by major players in the power supply market include product launches and developments, acquisitions, and expansions. Companies such as MEAN WELL (Taiwan), TDK Lambda (Japan), Siemens (Germany), General Electric (US), and XP Power (US) have adopted these strategies to expand their customer base and enhance their product portfolio.
To know about the assumptions considered for the study download the pdf brochure
MEAN WELL (Taiwan) is one of the leading players in the power supply market. The company’s leading position in this market can be attributed to its strong product portfolio comprising enclosed switching power supply, DIN rail power supply, open frame switching power supply, specific purpose power supply, programmable power supply, and configurable power supply in the AC-DC power supply market and also a wide range of products in the DC-DC and DC-AC converters. The company is further trying to expand its product portfolio by introducing new products. In 2018, the company launched HRPG-1000 series power supply that extends the output power up to 1,000 W. In addition to the extensive product portfolio, the company’s strong brand image, customer base, and wide geographic reach have helped it attain a leading position in the power supply market.
TDK Lambda (Japan) is among the significant players in the power supply market. TDK Lambda is among the leading designers and manufacturers of switching power supplies and its peripherals. The company has a strong product portfolio comprising AC-DC power supplies, DC-DC converters, programmable power supplies, bidirectional converters, and accessories. The AC-DC power supply range of the company comprises power supplies in unit types, PC board types, power module types, on-board types, and DIN rail mount types with a wide-ranging product lineup from models with a small capacity of several watts to models with a large capacity exceeding 2 kW. Besides product offerings, the geographic reach of the company is another major factor contributing to its strong position in the power supply market. In 2017, TDK Lambda launched 2 high-power models in the RWS-B Series, the small, simple function AC-DC high-efficiency power supply.
Power Supply Market by Output Power, Product Type, Vertical (Lighting, Consumer Electronics, Telecommunications, Transportation, Food & Beverages, Medical & Healthcare, Military & Aerospace, Industrial), and Geography - Global Forecast to 2023
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.SEND ME A FREE SAMPLE