Power Supply Market Is Assumed To Grow CAGR of 5.1% Forecast Until 2031

 Power Supply Market: Introduction

Transparency Market Research delivers key insights on the global power supply market. In terms of revenue, the global power supply market is estimated to expand at a CAGR of 5.1% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecast in its report on the global power supply market.

The global power supply market is broadly affected by several factors, including increase in usage of power supply in various applications such as industrial, transportation, and aerospace & defence. Rise in global demand for residential units has led to a significant growth in the usage of power supply. Increase in demand and use of power supply in residential building construction is expected to be the primary driver of the global power supply market. The rise in demand for power supply in industrial vertical is also propelling the power supply market.

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Power Supply Market: Dynamics

Power supply can be defined as the provision of electrical power to an electrical load through an electrical device. The primary function of a power supply is the conversion of an electrical source to the appropriate current, voltage, and frequency to power the load that is required.

A wide range of AC-DC and DC-DC power supplies can have an output voltage varying from less than 1 V to thousands of volts and output power ranging from 0.1 W to thousands of watts. Some power supplies are separate standalone pieces of equipment, while others are integrated into the load devices that they power. AC-DC and DC-DC power supply applications from verticals such as lighting, industrial, consumer electronics, and medical are driving the market by integrating it in various devices.
Manufacturers are focusing on the industrial segment, as the share held by the industrial segment in the power supply market is likely to increase during the forecast period.

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Power Supply Market: Prominent Regions

Asia Pacific holds major share of the global power supply market. The power supply market in the region is anticipated to expand at a CAGR of more than 5.1% during the forecast period. Increase in demand for power supply in various applications such of industrial is driving the power supply market in Asia Pacific. China is a key country of the power supply market in Asia Pacific. It held a significant share of the power supply market in Asia Pacific in 2020. The country is estimated to maintain its dominant position in the region during the forecast period.
North America is also a prominent region of the global power supply market. The U.S. led the power supply market in North America in 2020. Increase in demand for power supply in industrial, transportation, and aerospace & defence sectors is driving the power supply market in the U.S.

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Power Supply Market: Major Players

The global power supply market is consolidated with the presence of key players. Prominent players operating in the global power supply market include Artesyn, COSEL ASIA LTD, Delta Electronics Inc, General Electric, MEAN WELL Enterprises Co. Ltd, Phoenix Contact, Murata Power Solutions, PULS GmbH, SIEMENS AG, TDK-Lambda Corporation, and XP Power.

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