The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The industrial power supply market witnesses significant growth attributed to the surge in electric vehicle adoption.

• Electric vehicles require industrial power supply subsystems like AC/DC converters and battery management systems.
• Global EV sales doubled in 2021, reaching 6.6 million units, intensifying the demand for industrial power supplies.
• Major companies such as TDK Lambda Corporation and Siemens AG lead the industrial power supply market.

Advancements In Technology Drive Growth In The Industrial Power Supply Market

Technological advancements play a pivotal role in the expansion of the industrial power supply market.

• Companies focus on enhancing energy efficiency through innovative technologies.
• Toshiba Electronics Europe GmbH launched 1200V silicon-carbide (SiC) MOSFETs, improving energy efficiency in high-voltage industrial applications.
• Mitsubishi Heavy Industries Ltd. acquired Concentric LLC, a move to bolster technological capabilities in North America.

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Market Segmentation and Regional Analysis

The industrial power supply market is segmented based on product type, output power, and vertical type.

1. Product Type: AC-DC Converters, DC-DC Converters
2. Output Power: Very Low Output, Low Output, Medium Output, High Output, Very High Output
3. Vertical Type: Transportation, Semiconductor, Military And Aerospace, Robotics, Test And Measurement, Industrial 3-D Printing, Battery Charging And Test, Automotive, Energy, Other Verticals

Asia-Pacific Leads Market Share

• Asia-Pacific dominated the industrial power supply market in 2023.
• The region’s robust industrialization, especially in manufacturing and automotive sectors, propels market growth.
• Rising infrastructural developments and technological advancements contribute to the market’s expansion in Asia-Pacific.

Future Growth Prospects

The industrial power supply market is poised for substantial growth in the coming years.

• Forecasts predict a market size of $12.44 billion by 2028, driven by industry digitization and IoT adoption.
• Renewable energy integration, transition to electric vehicles, and smart manufacturing trends contribute to market expansion.
• Major trends include IoT-based solutions, strategic collaborations, and advanced material technologies.

Conclusion

The industrial power supply market experiences robust growth driven by technological advancements and emerging trends.

• The surge in electric vehicle adoption and technological innovations propel market expansion.
• Strategic acquisitions and collaborations further enhance the market landscape.
• With Asia-Pacific leading the market share, the industry anticipates significant growth opportunities globally.

In conclusion, the industrial power supply market is on a trajectory of steady growth, driven by evolving industry dynamics and technological advancements, promising a future of innovation and sustainability.

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The Industrial Power Supply Global Market Report 2024  provides comprehensive insights on the industrial power supply market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the industrial power supply market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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