The global switch mode power supply transformers market size is expected to reach USD 1.8 billion by 2027, expanding at a CAGR of 2.1% from 2020 to 2027, according to a new report by Grand View Research, Inc. An increase in the number of consumer electronics across the globe is augmenting the demand for the device. Additionally, high efficiency, compact size, and lower costs have led to the rise in the popularity of switch-mode power supply (SMPS) transformers.
Besides consumer electronics, SMPS transformers are widely used in applications such as machine tools, railway systems, industrial controls systems, security systems used in offices, railways systems, and electric vehicles. Thus, the increasing adoption of the above-mentioned applications is expected to increase the demand. Moreover, the advent of electric vehicles is anticipated to upkeep market growth over the forecast period.
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The market is fragmented, with several well-established companies competing with each other and growing competition from small scale local players. Companies are focusing on providing products specific to applications and targeting niche customers to stay ahead in the competition. For instance, in May 2019, Pulse Electronics launched a new product line of high isolation ethernet transformers. These new products were specially designed to cater to medical and industrial applications where safety and functionality are of prime importance, and the working voltages are high.
In addition to application-specific products, other strategies adopted by market players to sustain the intense competition in the market include product innovation, enhanced product portfolio, and mergers and acquisitions. However, the transformers' high-frequency noise is expected to pose a challenge to market growth in the near future. Similarly, the market is expected to experience a slight slump caused by the outbreak of the COVID-19 pandemic that has resulted in supply chain disruption.
Switch Mode Power Supply Transformers Market Report Highlights
• The AC to DC segment is projected to witness a CAGR of over 2.5% from 2020 to 2027 AC to DC SMPS transformers are primarily used in phone chargers and adapters, contributing to the high growth of the segment
• The industrial segment held a market share of more than 30.0% in 2019. This is attributable to the increasing use of vehicles that are equipped with SMPS transformers that allow DC to DC conversion of voltage.
• In Asia Pacific, the market is expected to witness a CAGR of 3.2% over the forecast period. Presence of several electronics manufacturing sites in countries like China, Taiwan, Korea, India, and Singapore is driving the market in the region
• The market is characterized by intense competition with the majority of the top players competing on product size and price to increase their market share.
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Switch Mode Power Supply Transformers Market Segmentation
Grand View Research has segmented the global switch mode power supply transformer market on the basis of type, application, and region:
Switch Mode Power Supply Transformers Type Outlook (Revenue, USD Million, 2016 - 2027)
• AC to DC
• DC to DC
• DC to AC
• AC to AC
Switch Mode Power Supply Transformers Application Outlook (Revenue, USD Million, 2016 - 2027)
• Consumer Electronics
Switch Mode Power Supply Transformers Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
o The U.S.
o The U.K.
• Asia Pacific
• Latin America
• Middle East & Africa
List of Key Players of Switch Mode Power Supply Transformers Market
• Infineon Technologies AG
• TDK Electronics AG
• Sumida Corporation
• Tamura Corporation
• Pulse Electronics
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.