The Industrial Power Supply Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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In accordance with The Business Research Company’s insightful Industrial Power Supply Global Market Report for 2024, the industrial power supply sector has exhibited robust growth in recent years. Forecasted to surge from $8.66 billion in 2023 to an estimated $9.31 billion in 2024, showcasing a notable compound annual growth rate (CAGR) of 7.5%. The historical upswing is attributed to heightened market competitiveness, a surge in innovative practices, escalating demand for uninterrupted power supply, industrial process electrification, infrastructure development, and an overarching emphasis on energy efficiency.

Projections for the industrial power supply market signal a compelling trajectory, anticipating expansion to $12.44 billion by 2028, propelled by a consistent CAGR of 7.5%. This prospective growth is underpinned by pivotal factors such as industry digitization, widespread IoT adoption, seamless integration of renewable energy sources, the ongoing transition to electric vehicles, the advent of Industry 4.0 and smart manufacturing, and a burgeoning demand for expansive data centers.

The adoption of electric vehicles is expected to propel the growth of the industrial power supply market going forward. Electric vehicles are vehicles that consist of a motor that is powered by electricity stored in batteries. It operates on electric motors and charges its batteries with electricity instead, which requires various industrial power supply subsystems, such as AC/DC converters and battery management systems, for their functionalities. Additionally, with defense against COVID-19 and aspirations to achieve net-zero emissions, EV and hybrid vehicles are suddenly adopted. Such a surge in electric vehicle demand has increased production and demand for industrial power supply. For instance, according to May 2022 published, Global EV Outlook 2022 report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, the increasing adoption of electric vehicle is driving the growth of the industrial power supply market.

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The industrial power supply market covered in this report is segmented –
1) By Product Type: AC-DC Converters, DC-DC Converters
2) By Output Power: Very Low Output (up to 500 W), Low Output (500−1, 000 W), Medium Output (1, 000 W−10 kW), High Output (10−75 kW), Very High Output (75−150 kW)
3) By Vertical Type: Transportation, Semiconductor, Military And Aerospace, Robotics, Test And Measurement, Industrial 3-D Printing, Battery Charging And Test, Automotive, Energy, Other Verticals
Noteworthy trends in the forthcoming period encompass IoT-based solutions, strategic collaborations, product innovations, and the integration of advanced material technologies.

An indispensable facet of this industry's evolution is the surging tide of technological advancements. This pivotal trend is steering the industrial power supply market towards heightened energy efficiency levels. Major players within the market are ardently dedicated to spearheading innovation, exemplified by the notable strides made by Toshiba Electronics Europe GmbH. In August 2022, this European-based electronic components enterprise, a subsidiary of Toshiba Electronic Devices and Storage Corporation, unveiled a groundbreaking series of 1200V silicon-carbide (SiC) MOSFETs. This technological marvel not only amplifies the energy efficiency of high-voltage industrial applications through third-generation SiC technology but also enhances device reliability by overcoming internal parasitic effects. The incorporation of a Schottky barrier diode (SBD) further solidifies the dependability of SiC MOSFETs, ensuring a consistent device RDS (on). This cutting-edge technology translates into superior conduction and switching performance, elevating power-conversion topologies through an impressive increase in the on-resistance x gate-drain charge (RDS(on) x QGD) figure of merit by over 80%. In essence, these advancements underscore a transformative phase in the industrial power supply landscape, marked by innovation, efficiency, and sustained growth

The industrial power supply market report table of contents includes:
1. Executive Summary
2. Industrial Power Supply Market Characteristics
3. Industrial Power Supply Market Trends And Strategies
4. Industrial Power Supply Market - Macro Economic Scenario
5. Global Industrial Power Supply Market Size and Growth


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31. Global Industrial Power Supply Market Competitive Benchmarking
32. Global Industrial Power Supply Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Industrial Sugar Market
34. Industrial Power Supply Market Future Outlook and Potential Analysis
35. Appendix

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