A recent report published by Infinium Global Research on industrial power supply market provides in-depth analysis of segments and sub-segments in the global as well as regional industrial power supply market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional industrial power supply market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global industrial power supply market. According to the report, the global industrial power supply market is projected to grow at a healthy CAGR of over the forecast period of 2019-2025.
The power supply needs in the Industrial sector is dramatically different from other sectors. Ever-growing demands for product personalization and rising market requirements continuously shape industrial production. Therefore, finding power supplies best suited for the needs of Industrial control, testing, automation, and assembly is essential. Electric power companies are tapping new technologies to serve gradually sophisticated customers who expect the types of high-tech digital experiences that other industries offer. In the industrial power supply, older equipment was replaced with newer, efficiency standards were implemented and technology change occurred, particularly in lighting and other appliances. The demographic and economic factors driving this trend included reducing population growth and a shifting economy toward less energy-intensive industries.
Growing adoption of automation-enabled electronic components in various industries are the major driving factor of the industrial power supply market. Furthermore, factors such as evolving telecommunications sector, growing demand for energy-efficient devices/appliances, and increasing need for a wide output range of power switches are also driving the market growth. Constant initiatives taken by the government to encourage the manufacturing of ecological vehicles is anticipated to boost the growth of the global industrial power supply market. Improvement of cutting-edge technologies such as IIoT and industrial revolution is also expected to create robust growth in the global switching mode power supply market. However, various country-wise regulatory and safety standards hamper the growth of the market. Moreover, increasing requirement of power supply in medical and healthcare devices are expected to provide growth opportunities to the market players.
Geographically, North America dominates the global industrial power supply market due to significant growth of the electronics industry in the U.S. and Canada. Asia-Pacific region is forecasted to register impressive growth in the global industrial power supply market owing to growing digitalization in emerging countries such as Japan, China, and India. The strong growth rate is likely to record in the Middle East and Africa and in Latin America during the future. This growth is attributed to factors such as the improvement of cutting-edge technologies.
The report on global industrial power supply market covers segments such as type, and end user. On the basis of type, the sub-markets include unregulated power supply, linear power supply, and switched mode power supply (SMPS). On the basis of end user, the sub-markets include power generation and distribution, oil, gas and petrochemical, commercial sector, utility sector, and other end users.
The report provides profiles of the companies in the market such as Weidmüller Interface GmbH & Co. KG, Schneider Electric SE, Cosel, CETC, Siemens AG, DELIXI, Omron Corporation, MEAN WELL Enterprises Co., Ltd., Phoenix Products LLC, TDK-Lambda Corporation, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of industrial power supply market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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