Industrial Power Supply Holds Huge Potential in Influencing the Dominant Source of Electricity. Asia Pacific to Witness the Highest Growth.

Industrial Power Supply market is expected to exceed the market valuation of more than US$ ~13 billion by 2027 expanding at a reasonable CAGR of around 7% during the forecast period (2021-2027). The world’s total electricity consumption reached 22,848 TWh in 2019, which is an increase of 1.7% from 2018. Most of the OECD electricity consumption since 1974 was in the residential sector, and in the commercial and public services sector. On the other hand, electricity consumption in the industrial sector has been declining over the years such that as of 2019, all three sectors have a roughly equal share of consumption. Outside the OECD countries, the electricity use is dominated by the industrial sector which represents half of the final electricity consumption. The four largest non-OECD nations in 2019 include India, China, the Russian Federation and Brazil, who together represent 39.8% of the global consumption. China accounts for 49.5% (almost half) of the non-OECD electricity consumption share.

Most industries purchase their electricity from electric utilities or independent producers. Additionally, some industrial facilities also generate their own electricity that they produce and/or the residues from their industrial processes. For examples, many paper mills have combined heat and power plants which may burn purchased natural gas or coal and black liquor which is produced in their mills to generate process heat and to generate electricity. Some manufacturers also produce electricity from solar photovoltaic systems which are located on their properties. Some industries also sell some of the extra electricity which they generate. Industries consume more fuel than any other sector, in 2017, this amounted to 149 million Terajoules of energy. About 20% of that energy consisted of electricity. This energy is mostly used to move and drive machinery such as pumps, conveyer belts, robotic arms etc.

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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.

Based on Type, the Industrial Power Supply market is segmented into AC−DC Converters and DC−DC Converters. Amongst Type, the DC-DC Converters segment of the market was valued at US$ XX billion in 2020 and is likely to reach US$ XX billion by 2027 growing at a CAGR of XX% from 2021-2027. 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.

Based on Output Power, the Industrial Power Supply market is segmented 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). Amongst output power, Very Low Output (Up to 500 W) segment accounted for a market valuation of US$ XX billion in 2020 and is expected to reach US$ XX billion by the year 2027, at a CAGR of XX% over 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 vertical, the Industrial Power Supply market is segmented into Transportation, Semiconductor, Military & Aerospace, Robotics, Test & Measurement, Industrial 3D Printing, Battery Charging & Test, Laser, and Lighting. Amongst vertical, the transportation segment of the market was valued at US$ XX billion in 2020 and is likely to reach US$ XX billion by 2027 growing at a CAGR of XX% from 2021-2027. 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.

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Additionally, the report provides detailed initiatives that are being taken in the field of Industrial Power Supply, globally. The report provides a detailed analysis of regions including North America (the U.S, Canada, and Rest of North America), Europe (Germany, France, Spain, Italy, UK, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), and the Rest of the World. Asia Pacific dominated the market in 2020, with XX% share.

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. are some of the prominent players operating in the Industrial Power Supply market. Several M&As along with partnerships have been undertaken by these players to make Industrial Power Supply as cost-effective and as widely available as possible.

Industrial Power Supply Market Segmentation

Market Insight, by Type

• AC−DC Converters
• DC−DC Converters

Market Insight, 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)

Market Insight, by Vertical

• Transportation
• Semiconductor
• Military & Aerospace
• Robotics
• Test & Measurement
• Industrial 3D Printing
• Battery Charging & Test
• Laser
• Lighting

Market Insight, by Region

• North America Industrial Power Supply Market
  • United States
  • Canada
  • Rest of North America
• Europe Industrial Power Supply Market
  • France
  • Germany
  • Italy
  • Spain
  • United Kingdom
  • Rest of Europe
• Asia-Pacific Industrial Power Supply Market
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Rest of World Industrial Power Supply Market

Top Company Profiles

• 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.