DC Power Supplies Market Demand Outlook Size Overview Analysis 2022-2029

DC Power Supplies Market Demand Outlook Size Overview Analysis 2022-2029
The DC Power Supplies Market is estimated to reach at a CAGR of 4.2% during the forecast period (2022-2029).

DC POWER SUPPLIES MARKET SCOPE AND SUMMARY

 

An embedded circuit that delivers a consistent and stabilized power supply to electronic modules is a direct current (DC) power supply. Power supplies are generally available in two types: switching and linear. The switching variations are slight and lightweight, have a higher power efficiency, and may be utilized for low, medium, and high-power applications.

Large transformers are used in the linear variations to reduce the voltage to alternating current (AC) and then convert it to DC voltage. DC power supplies have several advantages, including consistent power on and off with fewer input difficulties and improved readback precision, obviating the need for external meters, shunts, relays, and switching calibration.

DC power supplies are utilized for various purposes, from training the next generation of electrical engineers to manufacturing ground-breaking ultra-low-power wearable technologies.

 

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Choosing the right variable bench power supply is crucial to attaining good test results in education, research, design, and manufacturing. The customer requires a DC power supply that provides basic power sourcing or pushes performance limits by supplying thousands of volts.

 

DC POWER SUPPLIES MARKET DYNAMICS AND TRENDS

Tremendously improving electronic business and rising demand for energy-efficient power supplies is expected to accelerate the DC power supplier market.

Tremendously improving electronic business and rising demand for energy-efficient power supplies is expected to accelerate the DC power supplier market

Over the next several years, the DC power supply market is expected to improve due to the electronic industry’s rapid growth. Furthermore, with the continuous development of the industrial sector, the DC power supply market is expected to increase comparatively.

Growing basic electronic applications requires precise voltage, compensating for input voltage changes and burdened with producing the required voltage. As a result, the DC power market is poised for tremendous development.

Furthermore, the DC power supply market is benefiting from rapid expansion in the electronics industry and increased automation usage. Some areas where automotive electronic testing is done using DC power supplies are power battery testing, fuel cell testing, AC/DC charging station, DC-DC converter testing, onboard chargers & charging interface testing, and high-power battery testing to expand the DC power supply market. As the world’s population grows, so does the automotive industry, enhancing the DC power supply market.

Furthermore, the DC power supply systems market is growing due to increased production and demand for customers’ electronic devices such as laptops, mobile phones, computers, and other devices. These gadgets require a steady DC supply, driving the need for DC power supply systems.

Other growth-inducing factors include numerous technological breakthroughs, such as integrating electronic gadgets with the Internet of Things (IoT). Various devices, such as laptops, smartphones, and tablets, rely on DC power sources to provide a steady voltage supply, making their demand easier to meet. Other reasons, such as the development of programmable DC power supply and considerable advances in IT infrastructure, are expected to propel the industry even further.

Rising regulatory standards on the power supply are hurdling the growth of DC power suppliers

DC power supplies have wide demand among various industries; however, growing government regulation is more likely to hurdle the market growth for the product.

For instance, safety standards, the International Electrotechnical Commission (IEC) is a body that develops and publishes safety standards for electronic equipment. These norms are usually adopted in international marketplaces or sometimes amended and accepted.

The IEC 62368-1, for example, is a standard that addresses audio and video (AV) and information and communications technology (ICT) and is set to take effect later this year. The standard will be adopted, modified, and enforced worldwide; UL 62368-1 is the standard used in the U.S., whereas EN 62368-1 is used in the European Union. Safety standards may have several editions and revisions and local variances.

Furthermore, EMI (Electromagnetic Interference) and EMC (Electromagnetic Compatibility) describe how electronic products might act as transmitters or receivers of accidental electrical signals. EMI/EMC rules are frequently governed by local governments and are less complicated than the previously described safety standards. The FCC (Federal Communication Commission) handled the standard in the U.S. and the Electromagnetic Compatibility (EMC) Directive 2014/30/EU in the European Union. Countries outside the U.S. and the European Union have similar standards; however, they are usually harmonized with the FCC or the EU EMC Directive.

 

COVID-19 IMPACT ON DC POWER SUPPLIES MARKET GROWTH  

The outbreak of the COVID-19 pandemic has had a significant influence on the global market for DC power supplies.

Almost all major countries experienced a drop in economic development due to the COVID-19 pandemic, altering consumer purchasing patterns.

National and international transportation have been hampered due to the lockdown applied in several nations, which has substantially influenced the supply chain of numerous worldwide sectors, consequently widening the supply-demand mismatch. As a result, insufficient raw material supply is predicted to slow the manufacturing rate of DC power supplies, reducing market growth.

 

DC POWER SUPPLIES MARKET SEGMENT AND SHARES ANALYSIS

The global DC power supplies market is segmented based on type, output, application, and region.

Growing application of DC power supplies in the automotive industry for a variety of purposes, including power battery testing, fuel cell testing, AC/DC charging station testing, DC-DC converter testing, and others, is more likely to accelerate the segmental growth of the market

The global DC power supplies market is segmented into aerospace, defense, & government services, automotive, energy, wireless communication & infrastructure, and others based on the application. The automotive segment is expected to increase at a high CAGR during the projection period. DC power supplies are used in automotive electronic testing for various purposes, including power battery testing, fuel cell testing, AC/DC charging station testing, DC-DC converter testing, onboard chargers & charging interface testing, and high-power battery testing.

Furthermore, environmental and energy issues have risen to the top of the global agenda in recent years. Today’s automobiles burn a large amount of oil and pollute the human survival environment. As a result, to save energy and safeguard the environment, a green, environmentally-friendly electric car will be required for society’s long-term development.

The growth of green cleaning electric vehicles is the trend and the inevitable choice. Electric vehicles have no pollution, low noise, high efficiency, diversification, simple structure, and easy maintenance. The battery charging system, motor drive system, and dc load power supply system are the three sections of an electric vehicle’s power supply system.

The main role is to convert the high voltage of the battery in an electric vehicle into low-voltage output and deliver power to low-voltage dc loads such as the car’s safety system, windshield wiper, and music system. Thus growing shift of manufacturers to electric vehicles coupled with the increasing use of DC power suppliers in EVs has improved the segmental growth of the market.

 

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DC POWER SUPPLIES MARKET GEOGRAPHICAL ANALYSIS

The growing wireless communication and infrastructure industry and the aerospace sector have improved the DC power supplies market in the North American region.

Asia Pacific, Europe, North America, South America, the Middle East, and Africa are the five regions that make up the DC power supplies market. In 2021, North America held the greatest share of the DC power supply market.

Furthermore, during the projection period, it is also predicted to be the fastest-growing market for DC power supply. The developing wireless communication and infrastructure and the aerospace and defense sectors in nations like U.S. and Canada are expected to drive demand for DC power supplies in the region.

 

DC POWER SUPPLIES COMPANIES AND COMPETITIVE LANDSCAPE

The global DC power supplies market is highly competitive with local and global companies. Some prime companies contributing to the market’s growth are AMETEK, Keysight Technologies, Good Will Instrument, Rohde & Schwarz and B&K Precision, TDK Lambda, Chroma ATE, MEAN WELL, Tektronix, Matsusada Precision, Kikusui Electronics, Itech Electronic, and others.

The major companies are adopting several growth strategies such as acquisitions, product launches, and collaborations, contributing to the global growth of the DC power supplies market.

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