Chicago, Sept. 15, 2022 (GLOBE NEWSWIRE) — The AC power sources market is expected to grow from USD 1.5 billion in 2022 to USD 1.7 billion by 2027, at a CAGR of 2.2%, according to a new report by MarketsandMarkets™. An AC power source is a programmable device that provides controlled AC power for equipment test and measurement purposes. It can be programmed to vary the voltage, phase, and frequency of power supplied to a receiving device or system to simulate actual AC power conditions. AC power sources are also referred to as AC power supplies and regenerative network simulators. Globally, the increasing rate of urbanization is forcing governments to implement the concept of smart city. This concept is likely to fuel innovations in the automotive, energy, consumer electronics, wireless communication and infrastructure sectors. Thus, the implementation of the smart city concept creates lucrative opportunities for AC power sources.
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Energy application, by application, is expected to be the largest AC power source market over the forecast period.
Power applications hold the largest share of the AC power source market. Due to the increasing use of renewable energy sources, such as solar energy, the demand for devices such as photovoltaic inverters and batteries has increased significantly. The government and various institutions across the countries have established regulations to ensure the safety and efficiency of devices connected to the network. Energy-efficient power sources integrated with renewable energy sources are expected to drive the growth of the AC power sources market over the forecast period
By modulation type, PWM is expected to grow at the highest CAGR during the forecast period
By modulation type, the AC power source market has been segmented into PWM and linear segments. PWM AC power supplies are comparatively smaller and more efficient than linear AC power supplies. In the PWM technique, low frequency signals are generated from high frequency pulses. This technique cuts the AC waveforms into various chunks and changes them to the required voltage level with a smaller transformer. Such proficiency of PWM AC power sources vs linear AC power sources is driving the demand for PWM sources during the forecast period
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North America is expected to be the second largest region in the AC power source market
North America is expected to be the second largest ac power source market during the forecast period. North America is a major hub of technological innovations as the majority of global companies such as Boeing, Airbus, General Motors, Ford, Intel, Apple Inc. and Valero Energy have their R&D and manufacturing facilities established in this region. The North American AC power source market is driven by advancements in consumer electronics, aerospace & defense, and electric vehicles. Major automotive companies such as Ford and General Motors are focusing on manufacturing electric vehicles. These factors further increase the demand for AC power sources to test components used in electric vehicles.
Some of the major players in the AC Power Source Market are Keysight Technologies (USA), Chroma ATE (Taiwan), AMETEK Inc. (USA), Pacific Power Source (USA), Matsusada Precision (Japan), Kikusui Electronics Corporation (Japan), Good Will Instrument ( Taiwan). Major strategies adopted by these players include acquisitions, sales deals, product launches, agreements, alliances, partnerships, and expansions.
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