The global DC power supplies market is forecasted to grow at a CAGR of 4.3% from 2022 to 2032. The market is driven by the increasing demand for renewable energy. Further, by the need for efficient power management, and the growing adoption of smart grid technologies.
The global DC power supplies market is expected to reach USD 447.33 million by 2025. This is up from USD 378 million in 2021, at a CAGR of 4.3% during the forecast period.
The global market for DC power supply has been badly disrupted by the COVID-19 epidemic. The COVID-19 epidemic slowed economic development in nearly all major nations, altering consumer purchasing habits.
National and international travel have been impeded as a result of the lockdown applied in several nations. This has greatly disrupted the supply chain of DC power supplies sectors and many others throughout the world, consequently expanding the supply–demand gap.
The rapid expansion of the electronic industry is expected to propel the DC power supply market. With the continual expansion of the industrial sector, the DC power supply market is expected to rise considerably. Growing fundamental electronic applications necessitate precise voltage. This must be balanced against changes in input voltage and burdened with producing precise voltage as required.
The DC power supplies market is poised for tremendous development. With increased production and demand for electronic devices such as laptops, computers, mobile phones, and other electronic devices in consumers, and these gadgets need constant DC supply, demand for DC power supply systems is increasing. However, the DC power supplies market’s expansion is hampered by its complicated nature and expensive cost.
The market for DC power supply is divided into five regions: Asia Pacific, Europe, North America, South America, and the Middle East and Africa. From 2019 to 2024, North America is expected to have the greatest share of the DC power supply market.
During the forecast period, it is predicted to be the fastest-growing market for DC power supplies. The increasing wireless communication & infrastructure and aerospace & military segments in nations such as the United States and Canada are expected to drive demand.
- The North America from the DC power supply market is expected to grow at the fastest CAGR of 4.6%.
- Automotive is expected to grow at a high rate in the application sector with a CAGR of 4%.
- The market size for DC power supply in the United States is expected to reach US$ 216 Million by 2032. It will grow at a CAGR of 4.1% during the research period.
- United Kingdom is expected to reach a market size of US$ 25 Million in DC power supply by 2032. It will grow with a CAGR of 3.1% during the research period.
- China’s DC power supply market is expected to be worth US$ 44 Million by 2032. It will grow with a CAGR of 3.7% over the forecast period.
- Japan is expected to have a market size for DC power supply of US$ 35 Million by 2032. It will grow with a CAGR of 2.7% during the research period.
- By 2032, South Korea is expected to reach a market size of US$ 23 mllion in DC power supply. It will grow with a CAGR of 2% during the research period.
Keysight Technologies, AMETEK, Goodwill Instrument, TDK Lambda, and Chroma ATE are the key participants in the DC power supply market.
The firm introduced a new E36200 range of single and dual output power supplies in May 2019. As part of its inorganic strategy, Keysight Technologies received a contract in December 2015 to supply DC Power Supplies to the University of Sheffield’s Electronic Engineering Teaching Lab.
These insights are based on a report on DC Power Supplies Market by Future Market Insights.