Global Industrial Power Supply Market Overview:
Industrial Power Supply Market Size was estimated at 14.43 (USD Billion) in 2022. The Industrial Power Supply Market Industry is expected to grow from 15.31(USD Billion) in 2023 to 26.17 (USD Billion) by 2032. The Industrial Power Supply Market CAGR (growth rate) is expected to be around 6.13% during the forecast period (2024 - 2032).
Key Industrial Power Supply Market Trends Highlighted
The Industrial Power Supply Market is a rapidly growing market due to the increasing demand for industrial automation and electrification. Some of the key market drivers include the rising adoption of Industry 4.0 technologies, the growing demand for renewable energy sources, and the increasing use of electric vehicles.
Key market trends in the Industrial Power Supply Market include the increasing adoption of modular power supplies, the growing demand for high-efficiency power supplies, and the increasing use of digital power supplies. Modular power supplies offer greater flexibility and scalability, while high-efficiency power supplies help reduce energy consumption and costs. Digital power supplies offer greater control and monitoring capabilities, making them ideal for applications that require precise power management.
Opportunities to be explored or captured in the Industrial Power Supply Market include the development of new power supply technologies, the expansion into new markets, and the development of new applications for power supplies.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Power Supply Market Drivers
Increasing Demand for Industrial Automation
The growing adoption of industrial automation across various industries is a significant driver of the Industrial Power Supply Market Industry. As industries strive to improve efficiency productivity, and reduce costs, they are increasingly deploying automated systems and equipment. These automated systems require reliable and efficient power supplies to operate, creating a strong demand for industrial power supplies. The integration of sensors, actuators, and controllers in automated systems necessitates precise and stable power delivery, which is driving the growth of the Industrial Power Supply Market Industry.
Advancements in Renewable Energy
The transition towards renewable energy sources such as solar and wind power is another key driver of the Industrial Power Supply Market Industry. Renewable energy systems require specialized power supplies that can handle intermittent power generation and voltage fluctuations. Industrial power supplies play a crucial role in ensuring the efficient conversion and distribution of power from renewable energy sources. As the adoption of renewable energy continues to grow globally, the demand for industrial power supplies is expected to increase significantly.
Expansion of Electric Vehicle (EV) Charging Infrastructure
The burgeoning electric vehicle industry is driving the growth of the Industrial Power Supply Market Industry. The expansion of EV charging infrastructure requires reliable and efficient power supplies to support the charging of electric vehicles. Industrial power supplies are used in EV charging stations to provide stable power and ensure safe and efficient charging. As the number of electric vehicles on the road increases, the demand for industrial power supplies for EV charging is anticipated to rise.
Industrial Power Supply Market Segment Insights:
Industrial Power Supply Market Output Power Insights
The Output Power segment of the Industrial Power Supply Market is anticipated to witness significant growth in the coming years. In 2023, the Below 100 W segment held the largest market share, and it is estimated to maintain its dominance throughout the forecast period. The growth of this segment can be attributed to the increasing demand for low-power industrial power supplies in various applications such as automation, instrumentation, and control systems. The 100 W to 1 kW segment is projected to experience steady growth during the forecast period, driven by the rising adoption of industrial power supplies in industries such as automotive, electronics, and telecommunications.The 1 kW to 5 kW segment is also expected to witness significant growth, owing to the increasing demand for medium-power industrial power supplies in applications such as robotics, machine tools, and medical equipment. The 5 kW to 10 kW segment is estimated to grow at a moderate pace during the forecast period, primarily due to the increasing adoption of industrial power supplies in applications such as data centers, renewable energy systems, and electric vehicles. The Above 10 kW segment is expected to witness the fastest growth rate during the forecast period, driven by the increasing demand for high-power industrial power supplies in applications such as heavy machinery, mining, and manufacturing.Overall, the Industrial Power Supply Market for Output Power is expected to Register a CAGR of 6.4% during the forecast period, reaching a market valuation of USD 19.3 billion by 2030. Key factors driving the growth of this market include the increasing adoption of automation and digitization in industries, rising demand for energy-efficient power supplies, and growing investments in infrastructure development.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Power Supply Market Voltage Insights
The Industrial Power Supply Market is segmented by voltage into low voltage (up to 1 kV), medium voltage (1 kV to 33 kV), and high voltage (above 33 kV). The low-voltage segment is expected to account for the largest share of the market in 2023 due to the increasing demand for low-voltage power supplies in various industrial applications. The medium voltage segment is expected to grow at a significant rate during the forecast period due to the increasing adoption of medium-voltage power supplies in renewable energy applications. The high-voltage segment is expected to account for a relatively smaller share of the market due to the limited number of applications for high-voltage power supplies.In 2023, the Industrial Power Supply Market revenue is expected to reach 15.31 USD Billion. The market growth is attributed to the increasing demand for industrial power supplies in various industries, such as manufacturing, automotive, and energy. The market is also expected to benefit from the growing adoption of automation and digitization in industries.
Industrial Power Supply Market Topology Insights
The Topology segment of the Industrial Power Supply Market encompasses various technologies used to regulate and convert electrical power. 'Linear' power supplies employ linear regulators to provide stable voltage and current output, offering high efficiency and low noise. 'Switch-Mode' power supplies utilize transistors and inductors to achieve higher efficiency and smaller sizes, making them suitable for applications requiring compact and efficient solutions. 'Uninterruptible Power Supply (UPS)' systems provide backup power in the event of power outages, ensuring uninterrupted operation of critical systems.Switch-mode power supplies are expected to dominate the market due to their high efficiency and compact size, while UPS systems are projected to witness significant growth owing to the increasing demand for reliable backup power solutions in critical applications. PFC circuits are also gaining traction as they enhance power quality and reduce energy consumption.
Industrial Power Supply Market Application Insights
The Industrial Power Supply Market segmentation by Application is a crucial aspect of understanding the diverse requirements of various industries. Industrial Automation, with a significant share of the market, utilizes power supplies for controlling and monitoring industrial processes, leading to increased productivity and efficiency. Machine Tools, another key application segment, relies on power supplies for providing precise and reliable power to CNC machines, ensuring high-quality manufacturing. Robotics, a rapidly growing segment, employs power supplies to energize robots for tasks such as welding, assembly, and material handling, enhancing automation and flexibility in manufacturing processes.Mining operations depend on power supplies for powering equipment and machinery in harsh environments, ensuring continuous and safe operations. The oil and Gas industry utilizes power supplies for powering equipment in offshore platforms and refineries, supporting exploration, extraction, and processing activities. Renewable Energy applications, such as solar and wind power systems, require power supplies for converting and regulating power from renewable sources, contributing to sustainable energy generation.
Industrial Power Supply Market Phase Insights
The Industrial Power Supply Market is segmented into Single Phase and Three Phase based on Phase. The single-Phase segment accounted for a larger market share in 2023, owing to its widespread adoption in low-power applications such as residential and commercial buildings. However, the Three-phase segment is projected to grow at a faster rate during the forecast period, driven by the increasing demand for high-power applications in industrial sectors. By 2032, the Three-phase segment is expected to account for a significant share of the Industrial Power Supply Market revenue.The growth of the Three Phase segment can be attributed to the increasing adoption of electric vehicles, renewable energy sources, and data centers, which require high-power and reliable power supplies.
Industrial Power Supply Market Regional Insights
The Industrial Power Supply Market is segmented into North America, Europe, APAC, South America, and MEA. In 2023, North America was the largest regional market, accounting for over 35% of the global market. Europe was the second-largest regional market, accounting for over 25% of the global market. APAC is expected to be the fastest-growing regional market, with a CAGR of over 7% during the forecast period from 2024 to 2032. The growth in the APAC region is attributed to the increasing demand for industrial power supplies from industries such as manufacturing, automotive, and electronics.Additionally, government initiatives to promote the adoption of energy-efficient technologies are expected to drive the growth of the industrial power supply market in the APAC region.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Power Supply Market Key Players And Competitive Insights:
Major players in the Industrial Power Supply Market are constantly striving to stay ahead of the competition by introducing innovative products and expanding their geographical reach. Industry leaders are investing heavily in research and development activities to enhance product capabilities and launch new products that meet the evolving needs of end users. Leading Industrial Power Supply Market players are focusing on strategic acquisitions and partnerships to strengthen their market position and gain access to new technologies and markets. The Industrial Power Supply Market is witnessing a growing trend towards digitalization and the integration of advanced technologies such as artificial intelligence and the Internet of Things (IoT). This development is driven by the increasing need for improved efficiency, reliability, and remote monitoring capabilities. The competitive landscape of the Industrial Power Supply Market industry is expected to remain dynamic, with mergers and acquisitions, product innovations, and strategic partnerships shaping the market over the forecast period.Leading company in the Industrial Power Supply Market, Delta Electronics has a strong global presence and a broad product portfolio that includes AC-DC power supplies, DC-DC converters, and uninterruptible power supplies (UPS). The company has established strong partnerships with key industry players and offers customized solutions to meet specific customer requirements. Delta Electronics is committed to sustainability and has incorporated eco-friendly practices into its manufacturing and product design processes.Meanwhile, another prominent player in the Industrial Power Supply Market industry, Schneider Electric, is known for its comprehensive suite of electrical products, including industrial power supplies, automation systems, and energy management solutions. The company has a global footprint and caters to a wide range of industries, including manufacturing, transportation, and healthcare. Schneider Electric places a strong emphasis on innovation and regularly introduces new products to enhance its offerings. The company is committed to energy efficiency and has implemented sustainable practices throughout its operations.
Key Companies in the Industrial Power Supply Market Include:
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Bel Fuse
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Artesyn Technologies
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Phoenix Contact
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XP Power
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Schneider Electric
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TDKLamiplus
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CUI Inc.
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Littelfuse
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Infineon Technologies
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Power Integrations
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Recom Power
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Emerson Electric
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Delta Electronics
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Mean Well
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Murata Power Solutions
Industrial Power Supply Market Industry Developments
The Industrial Power Supply Market is poised to grow significantly in the coming years, driven by the increasing demand for reliable and efficient power supplies in various industrial applications. The market is expected to reach a valuation of USD 18.23 billion by 2032, expanding at a CAGR of 6.13% from 2024 to 2032.Recent developments in the market include the growing adoption of renewable energy sources, such as solar and wind power, which require specialized power supplies to convert and manage the generated power. Additionally, the increasing use of automation and digitalization in industries is driving the demand for advanced power supplies that can support these technologies. Furthermore, government regulations and initiatives aimed at promoting energy efficiency and reducing carbon emissions are expected to impact the market growth positively. Key players in the market are focusing on developing innovative products and expanding their global presence through strategic partnerships and acquisitions.
Industrial Power Supply Market Segmentation Insights
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Industrial Power Supply Market Output Power Outlook
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Below 100 W
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100 W to 1 kW
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1 kW to 5 kW
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5 kW to 10 kW
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Above 10 kW
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Industrial Power Supply Market Voltage Outlook
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Industrial Power Supply Market Topology Outlook
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Industrial Power Supply Market Application Outlook
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Industrial Automation
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Machine Tools
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Robotics
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Mining
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Oil and Gas
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Renewable Energy
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Industrial Power Supply Market Phase Outlook
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Industrial Power Supply Market Regional Outlook
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North America
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Europe
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South America
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Asia-Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
14.43(USD Billion) |
| Market Size 2023 |
15.31(USD Billion) |
| Market Size 2032 |
26.17(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
6.13% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2022 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Bel Fuse, Artesyn Technologies, Phoenix Contact, XP Power, Schneider Electric, TDKLamiplus, CUI Inc., Littelfuse, Infineon Technologies, Power Integrations, Recom Power, Emerson Electric, Delta Electronics, Mean Well, Murata Power Solutions |
| Segments Covered |
Output Power, Voltage, Topology, Application, Phase, Regional |
| Key Market Opportunities |
Growing Demand from Renewable Energy Industrial Automation and Electric Vehicles |
| Key Market Dynamics |
Increased Automation Digitalization, E-Mobility, Energy-Efficiency, Supply Chain Disruptions |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Industrial Power Supply Market is anticipated to reach a valuation of 15.31 billion USD in 2023.
The Industrial Power Supply Market is expected to grow at a CAGR of 6.13% from 2024 to 2032.
The Industrial Power Supply Market is projected to reach a valuation of 26.17 billion USD by 2032.
Industrial power supplies are widely used in various applications, including factory automation, robotics, medical equipment, and telecommunications.
Major competitors in the Industrial Power Supply Market include ABB, Siemens, Schneider Electric, and Eaton.
The growth of the Industrial Power Supply Market is driven by factors such as increasing demand for industrial automation, rising adoption of renewable energy sources, and expanding manufacturing industries.
The Industrial Power Supply Market faces challenges such as supply chain disruptions, raw material price fluctuations, and intense competition.
Opportunities in the Industrial Power Supply Market include the development of new technologies, the expansion of emerging markets, and the increasing focus on energy efficiency.
Key trends in the Industrial Power Supply Market include the adoption of digitalization, the integration of renewable energy sources, and the miniaturization of power supplies.
