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ENERGY & POWERDISCOUNT VALID TILL 31st-JANUARY , 2022

Industrial Power System Market Segmentation by Type (AC-DC, and DC-DC Converter); by Technology (SCADA, PLC, DCS, HMI, and Others); and by End User (Transportation, Upstream, Petrochemicals, Utility and Power Generation, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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Extensive insights into the Growth of Industrial Power System Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • December 2021- ABB India announced that it will deliver next generation digital technology for power supply in Indore that is predicted to enable continuous supply of electricity to businesses and homes.

  • September 2019- Siemens declared to build an industrial power plant for a combined cycle power facility for Evonik in North Rhine-Westphalia, Germany. 

Global Industrial Power System Market Highlights Over 2022 - 2031

The global industrial power system market is estimated to garner a large amount of revenue by growing at a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed largely to the growing demand for energy-efficient devices in the industrial sector around the world. Along with this, increasing need for power is escalating environmental concerns such as emission of greenhouse gases, air pollution and global warming. This is expected to raise the requirement for energy generation by techniques that minimize the exploitation of natural sources, which in turn is evaluated to raise the demand for industrial power systems in the forthcoming years. Furthermore, rising adoption of robotics and surging production of electric vehicles worldwide is projected to offer profitable opportunities to the market in the near future, as it is assessed to fuel the need for power supplies globally. According to the International Energy Agency, the sales of electric cars reached 2.1 million in 2019, accounting for about 2.6 percent of global car sales. The car stock for EVs also registered a 40 percent year-on-year increase in 2019.

Industrial Power System Market

The market is segmented by end user into transportation, upstream, petrochemicals, utility and power generation, and others, out of which, the transportation segment is anticipated to hold the largest share in the global industrial power system market. This can be accounted to the growing number of government initiatives to support the adoption of electric vehicles, especially in the UK, China, Germany and France. Additionally, on the basis of type, the DC-DC convertors segment is predicted to occupy the largest share during the forecast period. This can be credited to the growing demand for DC power sources in various industrial applications across the globe, such as automotive, aeronautics and robotics, to fulfil the skyrocketing energy demand. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Major Macro-Economic Indicators Impacting the Market Growth

In 2019, the world’s total energy supply was 606EJ, wherein the highest share in terms of source was captured by oil, accounting for 30.9%, followed by coal (26.8%), natural gas (23.2%), biofuels and waste (9.4%), nuclear (5.0%), hydro (2.5%), and other (2.2%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 1% due to the outbreak of Coronavirus resulting in government-imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.

Global Industrial Power System Market Regional Synopsis

Regionally, the global industrial power system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the rapidly growing industrialization and urbanization, and expansion of the consumer electronics industry in the region. For instance, more than 77 percent of the total population of Malaysia lived in urban areas in 2020, up from about 76 percent in the year 2019. In addition, increasing number of government initiatives to raise the efficiency of industrial processes is also expected to bolster the market growth in the region in the coming years. Moreover, the market in North America is projected to grab the largest share during the forecast period ascribing to the growing demand for industrial power supply for delivering power to the rising electricity load, and strong presence of major market players in the region.   

Industrial Power System Market Share

The global industrial power system market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global industrial power system market includes the following segments:

By Type

  • AC-DC Convertors
  • DC-DC Converters

By Technology

  • SCADA
  • PLC
  • DCS
  • HMI
  • Others

By End User

  • Transportation
  • Upstream
  • Petrochemicals
  • Utility and Power Generation
  • Others

Growth Drivers

  • Growing Demand for Energy-Efficient Devices in the Industrial Sector
  • Increasing Need for Power Around the World

Challenges

  • Difficulty in Selling Power Supply Products in Lower Economic Regions

Top Featured Companies Dominating the Market

  • XP Power
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • ABB Ltd.
  • Delta Electronics, Inc.
  • Siemens AG
  • TDK Corporation
  • Bel Fuse, Inc.
  • COSEL Co., Ltd.
  • MEAN WELL Enterprises Co., Ltd.
  • Advanced Energy Industries, Inc.
  • Eaton Corporation

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