The demand for Industrial Power Supply is witnessing an uptick on account of increased environmental concerns and use of sustainability. The Industrial Power Supply market is expected to grow with a significant CAGR in the coming years. Within the industrial sector, manufacturing accounts for the largest share of annual industrial energy consumption, generally followed by mining, construction, and agriculture. Mining includes extraction of minerals, non-mineral products such as stone and gravel, coal, oil and natural gas. Agriculture includes farming, fishing and forestry. Manufacturing is the physical, mechanical or chemical transformation of materials or substances into new products. In 2018, the combined energy used by six intensive manufacturing subsectors, i.e., chemicals, petroleum, coal products, paper, primary metals, food, and non-metallic mineral products is equaled 16.9 quadrillion Btu, i.e., 87% of the total manufacturing energy consumption. The three largest manufacturing subsectors include petroleum, chemicals and coal products, and paper, which combined consumed nearly 70% of the total manufacturing energy use in 2018.

The energy delivered in the industrial sector is more than any other end-user, which consumes about 54% of the world’s total delivered energy according to the Energy Information Administration (EIA) data. Energy consumption is related directly to the environment. Increase in energy consumption leads to increase in various environmental issues like greenhouse gas emissions, global warming, air pollution, which in turn drives the use of energy-efficient devices in industrial processes. The use of energy-efficient devices minimizes the exploitation of natural resources and helps to address related problems like voltage fluctuations. The rising need to reduce energy consumption has prompted manufacturers to develop innovative energy efficient devices. According to EIA, the energy use in the transportation sector is likely to increase by nearly 40% between 2018 and 2050. This growth is largely driven by non-OECD member countries, where the use of energy in the transportation sector is likely to increase by nearly 80% between 2018 and 2050. The energy used in the industrial power supply sector is expected to grow in the developing countries with the growing manufacturing sector.

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With industries, schools, offices and factories closed across the globe as a result of the coronavirus pandemic, the energy requirements of most countries got lower than usual. Even though the residential energy consumption grew slightly, there was a decline in the overall energy consumption, especially due to the industrial usage. During the lockdown, curtailment in many activities, e.g. mobility, economic activity, construction and manufacturing which has dropped the global energy demand. The latest data from July 2020 shows that as compared to the same period in 2019, the peak reduction rates of electricity consumption in France, Germany, Italy, Spain, UK, China and India were more than 10%. The weekly energy demand was estimated to be cut by approximately 9% under limited restriction, 17% under partial lockdown and approximately 24% under full lockdown. The industrial power supply market has risen back significantly since the opening of the lockdown.

According to ‘UnivDatos Market Insights (UMI)’ research report “Industrial Power Supply Market Analysis, 2020”, the Industrial Power Supply market is projected to grow at a CAGR of ~7% during 2021-27F. Growth in urbanization and industrialization in developing countries is one of the prominent reasons which is driving the market of the Industrial Power Supply. For Instance: The world’s total electricity consumption reached 22,848 TWh in 2019, which is an increase of 1.7% from 2018.

Based on the Type, the market is fragmented into AC−DC Converters and DC−DC Converters. DC−DC Converters segment accounted for the largest share in 2020 and is anticipated to register a lucrative CAGR during the forecast period. DC-DC converters are used widely to produce a regulated voltage from a source which may or may not be well controlled efficiently to a load that may or may not be constant. DC-DC converters are high-frequency power conversion circuits which use high frequency switching and inductors, capacitors, and transformers to smooth out switching noise into regulated DC voltages.

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Very Low Output (Up to 500 W) Segment to Witness Robust growth

Based on Output Power, the market is fragmented into Very Low Output (Up to 500 W), Low Output (500 W−1,000 W), Medium Output (1,000 W−10 kW), High Output (10−75 kW), and Very High Output (75−150 kW). Very Low Output (Up to 500 W) segment had the highest revenue and CAGR growth in the analyzed period. With the rising automation and invention of more advanced and complex tools, there is expected to be an increase in very low output machines. Additionally, growing digitalization in India, China and japan are the major reasons for the growth of the very low output power supply. By 2040, 11 billion smart appliances could participate in an interconnected electricity system, thanks to emerging technological advancements. 

Based on the Vertical, the market is fragmented into Transportation, Semiconductor, Military & Aerospace, Robotics, Test & Measurement, Industrial 3D Printing, Battery Charging & Test, Laser, and Lighting segment accounted for the largest share in 2020 and is anticipated to register a lucrative CAGR during the forecast period. Transportation plays a vital role in the world’s industrial growth, by facilitating the movement of people and global trade. However, it comes at a cost as it is the major source of emissions given its heavy reliance on fossil fuels. Even though it represents a third of the global energy demand, it is the lowest renewable energy using sector with the largest potential. 

Asia Pacific to Grab Lion’s Share, and witnessed Explicit Growth

Based on the Region, Asia Pacific dominated the Industrial Power Supply market in 2020. The region is projected to maintain its dominance during the forecasted period 2021-27 owing to the increasing digitalization. For example, Q1-2021 saw 315 Asia-Pacific power industry contracts from Asia-Pacific which is a 7% rise over the average of the last four quarters (295) according to the government database. Asia Pacific is expected to skyrocket with a CAGR of X% in the forecast period owing, as stated in UnivDatos Market Insights (UMI)’ research report “Industrial Power Supply Market Analysis, 2020”. 

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Industrial Power Supply Market are ABB Ltd., Amara Raja Power Systems Limited (ARPSL), COSEL Co., Ltd., CUI Inc., Delta Electronics, Inc., Magna-Power Electronics, Inc., MEAN WELL Enterprises Co., Ltd., Siemens AG, TDK-Lambda Corporation, and XP Power Ltd. among others. The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.

• In October 2021, Delta Electronics has helped Aerospace Industrial Development (AIDC), an aircraft component maker and aviation engineering service provider, set up a 5MW energy storage system at the latter's factory in central Taiwan, enabling AIDC to take part in Energy Trading Platform established by state-run Taiwan Power Company (Taipower).
• In September 2021, "Hitachi ABB Power Grids in India has signed a memorandum of understanding with the Indian Institute of Technology Roorkee to progress toward a smart and sustainable campus energy ecosystem," a company statement said.
• In September 2021, CUI’s PBO Series of single-output, board-mount, AC-to-DC Power Supplies are ideally suited to deliver on-board AC-to-DC power conversion where board real estate is at a premium.

“Industrial Power Supply Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Industrial Power Supply providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of go to Market Strategies and identifying the blue ocean for its offerings.

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Market Segmentation:

1. By Type (AC−DC Converters, DC−DC Converters)
2. By Output Power (Very Low Output (Up to 500 W), Low Output (500 W−1,000 W), Medium Output (1,000 W−10 kW), High Output (10−75 kW), Very High Output (75−150 kW))
3. By Vertical (Transportation, Semiconductor, Military & Aerospace, Robotics, Test & Measurement, Industrial 3D Printing, Battery Charging & Test, Laser, Lighting)
4. By Region (North America, Europe, Asia-Pacific, Rest of the World)
5. By Company (ABB Ltd., Amara Raja Power Systems Limited (ARPSL), COSEL Co., Ltd., CUI Inc., Delta Electronics, Inc., Magna-Power Electronics, Inc., MEAN WELL Enterprises Co., Ltd., Siemens AG, TDK-Lambda Corporation, XP Power Ltd., etc.)

Key questions answered in the study:

1. What are the current and future trends of the Industrial Power Supply industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Industrial Power Supply industry?
5. What is the customer orientation, purchase behavior, and expectations from the Industrial Power Supply firms across various regions?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS (INDUSTRY AT A GLANCE)

4 EXECUTIVE SUMMARY

5 INDUSTRIAL POWER SUPPLY MARKET REVENUE (US$ BN), 2021-2027F

6 COVID-19 IMPACT

7 MARKET INSIGHTS BY TYPE

8 MARKET INSIGHTS BY OUTPUT POWER

9 MARKET INSIGHTS BY APPLICATION

10 MARKET INSIGHTS BY REGION

11 INDUSTRIAL POWER SUPPLY MARKET DYNAMICS

12 INDUSTRIAL POWER SUPPLY MARKET OPPORTUNITIES

13 INDUSTRIAL POWER SUPPLY MARKET TRENDS

14 LEGAL AND REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY SIDE ANALYSIS

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

18 COMPANY PROFILED

19 DISCLAIMER