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Industrial Power Supply Units Market Size

Report ID: GMI12081
Published Date: Oct 2024
Report Format: PDF

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Industrial Power Supply Units Market Size

The global industrial power supply units market was valued at USD 15.9 billion in 2023 and is estimated to grow at a CAGR of over 5.2% from 2024 to 2032. As manufacturing and industrial processes increasingly embrace automation, the demand for dependable power supply units essential for operating machinery, robotics, and automated systems continues to surge. Industries, in their search for heightened efficiency and reduced labor costs, are increasingly turning to power supply solutions tailored for advanced technologies. Furthermore, the global shift towards renewable energy sources, notably solar and wind, underscores the necessity for adept power management systems.

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Furthermore, the rapid expansion of data centers, fueled by the rise of cloud computing and big data analytics, amplifies the demand for uninterrupted power supply solutions. Additionally, the worldwide momentum towards electric vehicles (EVs) and electrified public transportation systems further propels the need for specialized power supplies. Notably, advancements in power supply technology like enhanced switching techniques and their seamless integration with smart grid systems are significantly boosting performance.

Industrial Power Supply Units Market Report Attributes
Report Attribute	Details
Base Year:	2023
Industrial Power Supply Units Market Size in 2023:	USD 15.9 Billion
Forecast Period:	2024 – 2032
Forecast Period 2024 – 2032 CAGR:	5.2%
2024 – 2032 Value Projection:	USD 24.8 Billion
Historical Data for:	2021-2023
No. of Pages:	220
Tables, Charts & Figures:	180
Segments covered:	Product Type, Number of Phase, Voltage, Application, End Use Industry, Distribution Channel and Region
Growth Drivers:	Rising demand for automation Growth of renewable energy sources Swift technological advancements
Pitfalls & Challenges:	Disruptions in supply chains

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Authors: Avinash Singh , Sunita Singh

Frequently Asked Questions (FAQ) :

The global market for industrial power supply units was reached USD 15.9 billion in 2023 and is estimated to grow at a 5.2% CAGR from 2024 to 2032, driven by the increasing adoption of automation in manufacturing and industrial processes.

The switch mode power units segment was valued at over USD 5.9 billion in 2023 and is expected to grow at a 5.6% CAGR from 2024 to 2032, due to the rising prevalence of smart grids and the need for adaptive power supplies.

The three-phase segment held around 53% share of the industrial power supply units market in 2023 and is anticipated to grow at a 5.4% CAGR from 2024 to 2032, as it is ideal for handling heavier loads in large machinery.

The U.S. industrial power supply units market surpassed USD 3.7 billion in 2023 and is estimated to grow at a 5.2% CAGR from 2024 to 2032, propelled by the surge in manufacturing automation, expansion of cloud computing, and rising adoption of electric vehicles.

Key players in the industrial power supply units market include ABB, Assa Abloy, Berger Stromversorgungen, Camtec Power Supplies, Delta Electronics, Emerson, Gebruder Frei, Mean Well, Murata Manufacturing, Murrelektronik, Schneider Electric, Siemens, TDK Corporation, Weidmueller Interface, and XP Power.