DC Power Supplies Market Analysis by Vertical (Telecommunications, Consumer Electronics, Medical & Healthcare, Military & Aerospace, Transportation, Lighting, Food & Beverages, and Industrial); by Type {Alternative Current-Direct Current (AC-DC), and Direct Current-Direct Current (DC-DC)}, and by Output Power (Up to 10 kW, 10-100 kW, and 100-250 kW) – Global & Demand Analysis & Opportunity Outlook 2023-2035
Buy Now Report ID: 4790 | Published Date: Apr 06, 2023
The global DC power supplies market size is estimated to reach ~USD 3.34 Billion by the end of 2035 by growing at a CAGR of ~7.70% over the forecast period, i.e., 2023 – 2035. In addition to this, in the year 2022, the market size of DC power supplies was ~USD 1.41 Billion. The growth of the market can be attributed to growing adoption of electric vehicles. In 2021, the number of electric vehicle (EV) sales doubled from the previous year to reach about 5 million, a new high globally. Only about 119 000 electric vehicles were sold worldwide in 2012. DC electricity flows continuously in a single direction. Batteries, solar cells, and fuel cells all use this kind of power. Despite the fact that AC mostly replaced DC power for power grid applications, DC power has recently had a rebirth as numerous contemporary devices operate on it. Hence, electric vehicles rely on DC electricity. Therefore, with the growing demand for electric vehicles, the market is estimated to grow.
Moreover, there has been growing initiatives taken by the Government in order to promote adoption of electric vehicles. For instance, Phase-II of the FAME Programme, which began on April 1st 2019, was approved by the Indian government with a budget of USD 121 Million for a three-year term. In order to increase the demand for xEVs in the nation, 86 percent of overall financial support was set aside for the Demand Incentive. In order to create demand, this phase was estimated to support 7000 electric buses, 5 lakh electric three-wheelers, 55,000 electric four-wheel passenger cars (including strong hybrids), and 10 lakh electric two-wheelers. Hence, this factor is estimated to boost the demand for electric vehicles, further influencing the market growth over the forecast period.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~7.70% |
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Base Year Market Size (2022) |
~ USD 1.41 Billion |
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Forecast Year Market Size (2035) |
~ USD 3.34 Billion |
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Regional Scope |
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Growth Drivers
Growing Demand for LED - While about 49% of the world's light sources were LEDs in 2019, it is anticipated that this percentage would increase to about 86% by 2030. Light-emitting diodes, or LEDs, are semiconductor devices resembling transistors or other diode types with the additional capability of converting electrical energy into light energy. As a result, they run on low DC voltages and cannot be directly connected into an AC power source, different from an incandescent light bulb. Hence, the demand for DC power supplies is estimated to grow.
Rise in Demand for Smartphones - There are anticipated to be about 5 billion smartphone users worldwide in 2023, which translates to approximately 85% of the world's population having a smartphone. However, the smartphones after a certain period of time face various issues, and DC power supply is used to detect errors. A DC power supply is a necessary piece of equipment for mobile repairs. It is used to identify several kinds of flaws in mobile phones.
Surge in Adoption of IoT - IoT has gained great importance in past few years and they are adopted by large number of organizations of all type. In 2021, about 47% of major businesses used the Internet of Things, compared to approximately 25% of small businesses in Europe. The monitoring and regulating process is made accessible everywhere, at any time, as a result of the Internet of Things (IoT). Hence, IoT is deployed in order to control speed of DC motors.
Growth in Power Generation from Solar - A record about 178 TWh more electricity was produced by solar PV in 2021. The third-largest renewable electricity technology after hydropower and wind, solar PV accounts for approximately 2 % of the world's electricity production. Hence, the demand for DC power supplies is estimated to increase. When employing solar energy for essential electrical demands, DC systems are typically more dependable and effective.
Upsurge in Data Centers - In the entire world, there are about 7,999 data centers. Approximately 32% of the data centers among them are situated in the US. Alternate current (AC) power distribution systems are typically used in data centers. However, there has recently been an increase in interest within the sector to investigate and make use of direct current (DC) power distribution systems as an alternative. Since, compared to AC systems, DC systems require less space, equipment, installation, and maintenance. Hence, their preference is growing in data center.
Challenges
The global DC power supplies market is segmented and analyzed for demand and supply by vertical into telecommunications, consumer electronics, medical & healthcare, military & aerospace, transportation, lighting, food & beverages, and industrial. Out of which, the consumer electronics segment is anticipated to garner the highest revenue by the end of 2035. The growth of the segment can be attributed to the growing market for consumer electronics. Moreover, growing investment on consumer electronics is also estimated to drive the segment growth. By 2025, the government projects that the PLI scheme would attract investments of about USD 413 Million large-scale electronics manufacturing in India, primarily the production of mobile phones and electronic components. In both domestic and foreign markets, smartphones and other electronic devices are becoming more and more common. Innovative, inventive, and highly advanced electrical items are also growing increasingly popular. The manufacture and supply of DC power supply adapters—used to charge and run these electronic devices—are anticipated to rise as a result of this development. Moreover, as the industry's competition grows owing to the adoption of new mobile phones and other electronic devices, organizations are seeing transformation and advances in DC adapters with varied current and voltage ranges.
The global DC power supplies market is also segmented and analyzed for demand and supply by output power into up to 10kw, 10-100kw, and 100-250kw. Amongst which, the 100-250kw segment is anticipated to have a significant growth over the forecast period. The programmable high output power supplies are typically used for energy storage, semiconductor fabrication, automobile test equipment (ATE), and other applications. Consistent controls, a wide voltage-current range, high frequency, and improved design are a few of the main characteristics of these high output power supplies (100-250kw). Further, the demand for high output power supplies in the DC power supplies market is anticipated to increase owing to the military's and avionics' need to test goods that must operate in extreme, demanding environments.
Our in-depth analysis of the global DC power supplies market includes the following segments:
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By Vertical |
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By Type |
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By Output Power |
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The market share of DC power supplies in North America, amongst the market in all the other regions, is projected to have the highest growth, backed by growing wireless communication, along with surge in aerospace and defense market. In North America, about 328 million individuals (approximately 83% of the population) were subscribers to mobile services in 2021. Moreover, the number of gadgets users are also growing in this region which is also estimated to boost the market growth. Other growth-promoting elements in North America market include a number of technological developments, such as the Internet of Things (IoT), which connects electrical gadgets. Several devices, such laptops, smartphones, and tablets, rely on DC power sources to keep the voltage constant, which facilitates their demand. It is projected that further factors, such as the creation of programmable DC power supply and major advancements in the infrastructure of information technology (IT), would fuel the market in this region.
The Asia Pacific DC power supplies market is estimated to be the second largest, to have the highest growth. Given the strong demand for electronics, such as white goods and portable healthcare equipment, as well as the region's growing digitization and automation, the Asia-Pacific region is predicted to dominate the global DC power supplies market. Moreover, India's electronics manufacturing is anticipated to grow as a result of the increasing popularity of cell phones, electronic goods (TV and audio), IT equipment (laptops, tablets), industrial electronics, auto electronics, electronic components, corporate strategy electronics, LED bulbs, printed circuit board assembly (PCBA), wearables and hearables, and telecom equipment, which is further influencing the demand for DC power supplies. Hence, it is further estimated to contribute to the growth of DC power supplies in Asia Pacific region.
Additionally, the market in Europe region is anticipated to have the significant growth over the forecast period. The region's expanding food and beverage industry as well as its expanding aerospace and defense industry are two important factors boosting market expansion. Moreover, the high outage DC power supplies are extensively used in Europe region. The key factor in Europe's decision to use high outage was cost. Contrary to popular belief, greater voltages allow for the use of thinner wire, which results in less copper being used in the early stages of power lines. Electricity providers in Europe region might save money on wire by using 220 volts rather than 110 volts. Hence, this factor is estimated to boost the growth of the market in this region.
Chroma ATE Inc. unveiled the single-channel and three-channel DC power supplies in the 62000E series, which are only 1U high and offer the high-speed transient response and low-noise output characteristics of conventional linear regulators. Users could remotely view and control the data using a browser on a computer, smart phone, or tablet without needing any additional software or drivers owing to the remote web control interface. The web interface would also deliver an alarm message when the equipment detects any anomaly, in addition to the device's alarm sound, so that users may monitor the situation on-site from a distance.
The world's leading technology company, Keysight Technologies, Inc., has introduced a new line of single and dual output power supplies that deliver more usable power, bench-friendly design with low background noise, small footprint, and large display. Keysight Technologies, Inc. helps businesses, service providers, and governments accelerate innovation to connect and secure the world. With the help of Keysight's new E36200 series, engineers could now test their creations in a variety of markets, including automotive electronics, consumer products, healthcare, power tools, and industrial applications.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Payel Roy, Dhruv Bhatia
Ans: The major factors driving the growth of the market are growing demand for LED, rise in demand for smartphones, surge in adoption of IoT, and others.
Ans: The market size of DC power supplies is anticipated to attain a CAGR of ~7.70% over the forecast period, i.e., 2023 – 2035.
Ans: Growing adoption of high-voltage direct current (HVDC), stringent government regulations in order to reduce e-waste, and unauthorized & low-quality products are estimated to be the growth hindering factors for the market expansion.
Ans: The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are Acopian Technical Company, Ametek Inc., B&K Precision Corporation, Chroma ATE Inc., and more.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by vertical, type, output power and by region.
Ans: The 100-250kw segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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