The industrial power supply market is projected to be valued at USD 8.2 billion in 2024 and is expected to grow to USD 21.5 billion by 2034, with a CAGR of 10.1% over this period. The rising adoption of industrial automation and the implementation of Industry 4.0 initiatives are driving demand for reliable and efficient power supplies, which are essential for delivering stable and precise power to automation systems such as PLCs, robotics, and control systems.
A growing emphasis on energy conservation and sustainability in industrial environments is also increasing the preference for energy-efficient power supplies. Businesses are seeking solutions that not only reduce energy consumption but also lower operational costs. Additionally, global economic growth and the expansion of manufacturing and industrial infrastructure are contributing to increased demand for scalable and reliable power solutions to support new facilities and equipment.
Technological advancements in power electronics, digital control, and the integration of smart features are further propelling the development of highly efficient and advanced industrial power supplies. To stay competitive in this evolving market, companies are investing in research and development to drive innovation.
Key Takeaways from the Market Study
- From 2019 to 2023, the industrial power supply market expanded at a CAGR of 13.2%.
- Based on the product types, the AC-DC converters segment is expected to rise at a CAGR of 9.8% from 2024 to 2034.
- The industrial power supply demand in China is predicted to grow at a CAGR of 9.2% through 2034.
- In the United States, the industrial power supply industry is estimated to register a CAGR of 10.4% from 2024 to 2034.
- The United Kingdom is projected to expand by a value CAGR of 10.8% between 2024 and 2034.
- The industrial power supply market in Japan is anticipated to record a CAGR of 11.5% during 2034.
Competitive Landscape
The industrial power supply market players are forming strategic partnerships with other industry players, technology providers, or manufacturers to enhance product portfolios or expand market reach and collaborating with key stakeholders in the supply chain to ensure a seamless and reliable power supply ecosystem.
Leading Manufactures in Industrial Power Supply Market
- TDK Lambda
- Delta Electronics
- XP Power
- Siemens
- Murata Power Solutions
- Advanced Energy
- Bel Fuse
- Cosel
- MEAN WELL
Industrial Power Supply Market – Key Segments
By Product Types:
- AC-DC Converters
- DC-DC Converters
By Output Power:
- Very Low Output (Up to 500W)
- Low Output (500W-1,000W)
- Medium Output (1,000W-10 kW)
- High Output (10-75kW)
- Very High Output (75-150kW)
By Vertical:
- Transportation
- Semiconductor
- Military & Aerospace
- Robotics
- Test & Measurement
- Battery Charging & Test
- Industrial 3D Printing
- Laser
- Lighting
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
Report Preview: https://www.futuremarketinsights.com/reports/industrial-power-supply-market
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