The DC power supply market is expected to reach $605 million by 2032, according to a report by Future Market Insights Inc.
The global DC power supply market is expected to grow at a CAGR of 4.3% from 2022 to 2032, according to a new IMF report. The market is driven by the growing demand for renewable energy, the need for efficient energy management, and the growing adoption of smart grid technologies.
NEWARK, Del., April 28, 2022 /PRNewswire/ — According to IMF reports, the global DC power supply market is expected to reach $447.33 million by 2025, against $378 million in 2021 at a CAGR of 4.3% over the forecast period.
The expansion of the DC power supply market can be attributed to the growing demand from wireless communications and infrastructure, as well as aerospace and defense, in countries like the United States and Canadaas well as the growing demand for industrial automation and consumer electronics in countries like India, Chinaand Japan.
theglobal dc power supply markethas been greatly disrupted by the COVID-19 epidemic. The COVID-19 outbreak has slowed economic development in almost all major countries, changing consumer shopping habits.
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National and international travel has been hampered due to the lockdown applied in several countries, which has severely disrupted the supply chain ofDC power suppliessectors and many more across theworldthus expanding thegap between supply and demand.
The rapid expansion ofelectronics industry should propel theDC power supply market. With the continued expansion of the industrial sector, thedc power supply marketshould increase considerably. Growing fundamentalelectronic applications require precise voltage, which must be balanced against changes in input voltage and charged to produce precise voltage as needed.
theDC power supply market is on the verge of a tremendous development. With increased production anddemand for electronic devicessuch as laptops, computers, cell phones and other consumer electronics, and these gadgets need constant continuous power,application for dc power systemsincreased. However, theDC power supply marketThe expansion of is hampered by its complicated nature and high cost.
thedc power supply marketis divided into five regions:Asia Pacific, Europe, North AmericaSouth America,and theMiddle EastandAfrica.From 2019 to 2024,North Americashould have the largest share ofdc power supply market.
During the forecast period, it is expected to grow the fastestDC power supply market.The increase in wireless communications and infrastructure and aerospace and military segments in countries such as theUnited StatesandCanadaare supposed to drivedc power demandin the zone.
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KEY POINTS TO REMEMBER:
- North America DC power supply market is expected to grow at the fastest CAGR of 4.6% in the region sector.
- Automotive is expected to grow at a high rate in the DC power market application segment, growing at a CAGR of 4%.
- The U.S. DC Power Supply Market Size is Expected to Reach US$216 million by 2032, growing at a CAGR of 4.1% over the research period.
- The UK is expected to reach a market size of 25 million US dollars in DC power by 2032, with a CAGR of 3.1% during the research period.
- China The DC power supply market is expected to be worth 44 million US dollars by 2032 growing at a CAGR of 3.7% over the forecast period.
- Japan is expected to have a DC power supply market size of 35 million US dollars by 2032, with a CAGR of 2.7% during the research period.
- By 2032, South Korea is expected to reach a market size of $23 million DC power supplies, with a CAGR of 2% during the research period.
Keysight Technologies, AMETEK, Goodwill Instrument, TDK Lambda and Chroma ATE are the main participants in thedc power supply market.
- The company introduced a new single and dual output E36200 rangepower suppliesin May 2019. As part of its inorganic strategy, KeysightTechnologiesgot a contract in December 2015 provideDC power suppliesat the University of Sheffield Electronic Engineering Teaching Laboratory.
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Future Market Insights (ESOMAR certified market research organization and member of Greater New York Chamber of Commerce) provides detailed information on the driving factors that increase the demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.
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