DC Power Supplies Market size is predicted to reach USD 3.6 Billion by the end of 2036, growing at a CAGR of 7.7% during the forecast period, i.e., 2024 – 2036. In the year 2023, the industry size of DC power supplies was over USD 1.5 Billion. Growth in the market may be due to a growing adoption of electricity vehicles. In terms of sales of electric vehicles, the year 2021 was an important turning point. From 2020 to 6.75 million, there was a twofold increase in the number of EVs sold. The number of electric cars sold in a week in 2021 was higher than that which had been sold for the entire year 2012. DC electricity flows in the same direction all the time. This kind of energy is used in all sorts of devices like batteries, solar panels and fuel cells.
Moreover, in order to promote the adoption of electric vehicles, government initiatives have become more and more widespread. For instance, the Indian government has granted a budget of USD 121 million to phase II of FAME which started on 1 April 2019 and is for three years. A demand incentive has been set aside for 86 % of the overall financial support, with a view to increasing the adoption of EVs in the country. It has been estimated that this phase will support up to 7 000 electric buses, 5 000 electric 3-wheelers, 55000 electric 4 wheel passenger cars, and 10 lakhs of electric two wheelers with a view to creating demand. It is thus expected that, in the coming years, this will increase demand for electric vehicles and also lead to market growth.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~ 7.7% |
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Base Year Market Size (2023) |
~ USD 1.5 Billion |
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Forecast Year Market Size (2036) |
~ USD 3.6 Billion |
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Regional Scope |
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Vertical (Telecommunications, Consumer Electronics, Medical & Healthcare, Military & Aerospace, Transportation, Lighting, Food & Beverages, Industrial)
The consumer electronics segment in the DC power supplies market is anticipated to grow at a significant CAGR with about 25% share during the forecast period. The increase in this segment can be attributed to the increasing consumer electronics market. In addition, the segment is projected to grow as a result of an increasing investment in consumer electronics. According to the Indian government, investments of approximately USD 413 million would be generated in India's electronics manufacturing sector through the PLI programme by 2025 with a particular focus on cell phones and electronic components. Smartphones and other electronic devices are becoming more and more common in both domestic and foreign markets. There is also an increasing demand for innovative, innovative, and highly advanced electrical equipment. As a result of this development, there is expected to be growth in the production and supply of DC power adapter units for charging and operating these electronic devices.
Output Power (Up To 10kw, 10-100 kw, 100-250 kw)
DC power supplies market from the 100-250 kw segment is anticipated to have largest share of about 58% during the forecast period. For energy storage, semiconductor production, automotive test equipment, and other applications, programmable high output power supplies are usually used. Some of the principal characteristics of these high output power sources are constant controls, wide voltage range, high frequency and improved design. Moreover, due to the need of military avionics and testing goods that must be operational in extreme conditions, demand for high output DC power supplies on the market is expected to increase.
Our in-depth analysis of the global DC power supplies market includes the following segments:
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Vertical |
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Type |
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Output Power |
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North American Market Forecast
The North America DC power supplies market is anticipated to have largest share of about 33% during the forecast period backed by the boom in the aerospace and defense markets. In 2021, there were around 328 million people in North America who subscribed to a cell phone service. Furthermore, this region is also seeing a rise in the number of consumers using electronic devices that are expected to boost market growth. Numerous technical developments such as the Internet of Things (IoT), and connecting electronic equipment, have also helped to support growth in the North American market. A number of devices, e.g. laptops, smartphones, and tablets in the region, rely on DC power sources to keep the voltage constant so that they can be provided with their demand.
APAC Market Statistics
The Asia Pacific DC power supplies market is estimated to be the second largest with about 28% market share during the forecast period. The Asia Pacific region is projected to be the dominant market due to strong demand for electronic products such as white goods and portable medical devices in addition to regional growth of digitisation and automation. Additionally, it is anticipated that India's electronics manufacturing will expand as a result of the rising demand for DC power supplies being driven in part by the growing use of cell phones, electronic goods, IT equipment, electronic components, corporate strategy electronics, LED bulbs, printed circuit board assembly, wearables, and wearables. As a result, it is anticipated that the expansion of DC power in the Asia Pacific region would also play a role.
Author Credits: Payel Roy, Dhruv Bhatia
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