SAN FRANCISCO, Oct. 5, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled «Switching Mode Power Supply – Global Market Trajectory & Analytics». The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 18; Released: September 2021
Executive Pool: 6347
Companies: 118 – Players covered include ABB Ltd.; Aerospace Changfeng Chaoyang Power Supply Co., Ltd. (4NIC); CETC Solar Energy Holdings Co., Ltd.; Cosel Co., Ltd.; Delixi Electric Co. Ltd.; Delta Electronics, Inc.; Lite-On Technology Corporation; Mean Well Enterprises Co., Ltd.; MOSO Technology Co., Ltd.; Omron Corporation; Phoenix Contact GmbH & Co. KG; PULS GmbH; Salcomp PLC; Schneider Electric SA; Siemens AG; TDK-Lambda Corporation; Weidmuller Interface GmbH & Co. KG and Others.
Coverage: All major geographies and key segments
Segments: Type (AC/DC, DC/DC, Other Types); Application (Consumer Electronics, Industrial, Communication, Other Applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Switching Mode Power Supply Market to Reach US$29.2 Billion by the Year 2026
SMPS transformers are compact, lightweight, and highly efficient, as well as offer the capability of reducing the device’s overall size, weight, and noise, which is making them to gain traction in applications, such as commercial power supplies, communication devices, railway systems, and medical devices. Growth in the global market is attributed primarily to the introduction of new cost-effective and efficient technological products. In recent years, the rapid growth in sales of consumer electronic products, such as personal computers, refrigerators, smartphones, and adapters, is driving an increased demand for SMPS transformers. In addition, growing need for managing the weight and size of the electronic circuitry of electronic devices is expected to boost the demand for switching mode power supplies. Owing to their lower shipping costs and variable power conversion, SMPS transformers are finding widespread use in industrial machine tools and control systems globally. Moreover, the market growth is being fueled by the rising automotive industry that uses switching mode power supply in portable automobile chargers.
Amid the COVID-19 crisis, the global market for Switching Mode Power Supply estimated at US$23.8 Billion in the year 2020, is projected to reach a revised size of US$29.2 Billion by 2026, growing at a CAGR of 3.6% over the analysis period. AC/DC, one of the segments analyzed in the report, is projected to grow at a 3.3% CAGR to reach US$15.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the DC/DC segment is readjusted to a revised 4.5% CAGR for the next 7-year period. This segment currently accounts for a 29.5% share of the global Switching Mode Power Supply market. The growth in the AC-DC convertor segment is expected to be driven by the growing consumption of consumer electronic products among end-users across the globe. Growth in the DC/DC segment is attributed to their widespread usage in portable chargers and car chargers for drawing power from sources, such as car batteries.
The U.S. Market is Estimated at $7.4 Billion in 2021, While China is Forecast to Reach $4 Billion by 2026
The Switching Mode Power Supply market in the U.S. is estimated at US$7.4 Billion in the year 2021. The country currently accounts for a 31.2% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$4 Billion in the year 2026 trailing a CAGR of 4.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR while Rest of European market (as defined in the study) will reach US$4.2 Billion by the end of the analysis period. Asia-Pacific region is the dominant market, owing to large population in the region and high demand from regional manufacturing hubs. The rapid expansion in customer base for battery-operated devices, particularly in leading regional economies, such as China and India is expected to boost market prospects. Another key market, growth in the US is being driven by increased consumption and usage of battery-operated devices that require switching mode power supply. Over the next few years, the growth in the region would be driven partly by the increased usage of technology by the automobile industry.
Consumer Electronics (Application) Segment to Reach $13.8 Billion by 2026
The demand for consumer electronics is expected to witness a significant increase, fueled by the growing urban population, rising disposable income, robust supply chain, and increasing Internet penetration globally, which is contributing to a rise in demand for switching mode power supply transformers. In the global Consumer Electronics (Application) segment, USA, Canada, Japan, China and Europe will drive the 4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$8.3 Billion in the year 2020 will reach a projected size of US$11 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.7 Billion by the year 2026. More
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SOURCE Global Industry Analysts, Inc.