Power Supplies Market - Forecast(2024 - 2030)

The Power Supplies Market is forecast to reach $57.2 billion by 2026, after growing at a CAGR of 4.9% during the period 2021-2026. Advancements in the semiconductor industry is attributed to the increasing adoption of compact and efficient power supply equipment such as uninterruptible power supply (UPS) which offer higher efficiency and superior product life. Various R&D initiatives in the Power Supplies market has resulted in the replacement of the traditional silicon metal-oxide-semiconductor with the GaN FET device which ensures faster switching speeds, higher efficiency and performance, thus escalating growth of the Power Supplies market. DC-DC converters are utilized in a wide range of industries, including aircraft, solar energy, LED Lighting consumer electronics, telecommunications, automotive, medicine and others. Growing demand for electric vehicles, small UAVs, medical equipment, aircraft electrification, and others positively impact the market for power density. Moreover, increasing energy consumption, need for power efficiency and management, transition to 4G, 5G further boosts the market growth driven by increased power generation demand. In order to have high power density, the converter can be designed to operate in discontinuous conducting mode (DCM) such that the passive inductor can be minimized. The DCM operation associated current ripple can be alleviated by interleaving multiphase currents, both Alternate Current (AC) and High Voltage Direct Current (DC). However, DCM operation tends to increase turnoff loss because of a high peak current and its associated parasitic ringing due to the oscillation between the inductor and the device output capacitance. Thus, the efficiency is suffered from the conventional DCM operation. Although to reduce the turnoff loss a lossless capacitor snubber can be added across the switch, the energy stored in the capacitor needs to be discharged before the device is turned on. Application of soft switching in DC-DC converter has achieved a remarkable success in power electronics technology in terms of reduction in switching losses, improvement in power density, minimization of electromagnetic interference (EMI), and reduction in the volume of DC-DC converters. 

The report: “Power Supplies Market – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Power Supplies Market. 

By Form Factor: ATX, FLEX ATX, CIS, CRPS, Others.

By Voltage Rating: Up to DC 12V, DC 12V to DC 24V, DC 24V to DC60V, DC 60V to DC 125V, Above DC 125V.

By Power Output:Up to 2KW, 2KW to 16KW, 16KW to 60KW, Above 60KW.

By Conversion: AC, DC.

By Configuration: Open-Type Power Supplies, Closed-Type Power Supplies.

By End User Industry: Industrial,Telecommunications,Data Center,Consumer Electronics,Defense & Aerospace,Others.

By Geography - North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Australia and Others), South America(Brazil, Argentina and others), and RoW (Middle East and Africa). 

ATX form factor accounted for a segment share of 32.7% in the Power Supplies market globally in 2020. ATX motherboard enables advanced control facilities in which the BIOS program continually checks the CPU temperature and voltages. ATX motherboards are thus being deployed in data centers for use in server boards which require the improved thermal design to eliminate CPU preheating. A multi-level converter (MLC) is a process of generating high-voltage wave-forms from lower-voltage components. MLC origins go back over a hundred years, when in the 1880s, the advantages of DC long-distance transmission became evident. Modular multi-level converters (MMC) have been experimented by Tricoli et al in 2019. The latest application of MLC in electric vehicles (EV) is expected to drive the technology. It is also suitable low-cost semiconductors to make this topology competitive that are not currently available. High Power Density Design for a Modular Multilevel Converter With an H-Bridge Cell Based on a Volume Evaluation of Each Component is currently being used. 

Industrial segment is the largest end-user segment in the Power Supplies market, and it held a share of 21.2% in 2020. The industrial Power Supplies market is poised to grow at a CAGR of 3.1% in the forecast period. According to the International Federation of Robotics (IFR), robot sales increased by 30% in 2019 with 381,000 units being shipped globally, and demand for robotic systems is set to grow with the expansion of automotive assembly plants especially in the APAC region. Switching power supplies, which are an integral subsystem to robotic systems, are thus set to witness a prominent upsurge during 2021-2026. 

APAC holds the largest share of 33.5% in the global Power Supplies market in 2020 and is expected to grow at a CAGR of 5.3% during 2021-2026. The APAC region is witnessing significant growth in the automotive industry as it hosts major automotive OEMs in countries such as Japan and China. Japan is a leader in the automotive industry with the presence of top automobile OEMs including Toyota Motor Corporation, Suzuki Motor Corporation, Honda Motor Co., Ltd., and Nissan Co., Ltd. and others, which are incorporating Power Supplies for regulating power within automobile components. Thus, the growth of the automobile industry is set to drive the Power Supplies market.  APAC region comprises of various leaders in the telecom industry, especially in China and India. The Indian telecommunications industry is growing, especially in the rural areas. Telecom services are being accessed by 58.45% of the rural population in India as of July 2019. Thus, the Indian rural market will be a key driver for the telecommunications industry. As Power Supplies are used in the telecommunication and automotive industries, growth in these industries will lead to significant growth in the Power Supplies market as well. The European Union's Ecodesign Directive released a directive to set regulations for ecological requirements for power density usage across sectors in all 28 Member States. Its scope currently covers more than 40 product groups (such as boilers, light bulbs, TVs and fridges), which are responsible for around 40% of all EU greenhouse gas emissions. The EU Eco-design Directive has a wide array of regulations regarding the application of different power density, to curb down pollution and greenhouse emissions. 

Increasing digitalization in various industrial verticals such as power generation, transmission and distribution, water treatment, gas distribution, manufacturing, oil and gas, chemicals and so on is driving demand for industrial PCs which are being used for process control and monitoring applications. The adoption of edge and fog computing for faster data processing is opening up new opportunities for digitalization. Since these data servers and industrial computers incorporate switching power supplies, their increasing adoption of these systems will also help drive the Power Supplies market. Hybrid and full silicon carbide power modules combine the benefits of proven industry standard power modules with packaging technologies. Owing to various packaging optimizations, all the benefits that silicon carbide offers can be fully exploited. A low module commutation inductance allows for full speed switching of SiC MOSFETs. The higher switching speeds can be converted into higher switching frequencies, resulting in smaller magnetic filter components. At the same time the switching losses can be reduced, increasing system efficiency. Sophisticated materials and packaging technologies minimize the thermal resistance of the chip to the heatsink, enabling higher power densities. The silicon carbide further reduces loss of power density and enhances the life of power devices. The technology enables super fast charging in EV vehicles and other applications where high speed charging is required. 

In 2020, the global battery electric car fleet exceeded 6.8 million, with sales of new electric cars doubling sales figures from 2017. Increasing environmental concerns regarding vehicular emissions from internal combustion engines is driving the shift towards electric vehicles which have little or no emissions. The increase in demand for electric vehicles is thereby set to drive the Power Supplies market as these power conversion systems are used for on-board as well as off-board computing systems. 

As per the IDC, the worldwide market for PCs experienced an overall decline of 2.1% in Q4 2019. This decline is anticipated to continue in the coming future due to a shift towards mobile computing devices. Since desktops integrate the use of Power Supplies systems, the decline in their market growth would negatively impact the Power Supplies market growth during the forecast period. 

Partnerships and acquisitions along with product development and up-gradation are key strategies adopted by players in the Power Supplies market. In 2018, the market for switching power supplies was analyzed to be moderately fragmented with top 10 players accounting for 67.15% of the market share. Major players in the Power Supplies market include