Power Supply Market Worth USD 54.75 billion by the year 2029

July 05, 2023

Market Definition

Power Supply is a type of electronic equipment which is used for supply of power or energy to the electric load that requires this energy for consumption and working. The main use of power supply is to monitor and modify the current and voltage of electrical power so that the correct energy can be supplied to the load. Some of these power supplies are built into the electrical appliances and some are installed separately so that the appliances do not suffer any electrical faults.

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Market Analysis and Size

Power supply is gaining large attention with the increasing need for power-efficient and durable systems. AC-DC and DC-DC power supply are being deployed across various verticals such as industrial, medical, lighting, and consumer electronics, among others.

Global Power Supply Market was valued at USD 32.46 billion in 2021 and is expected to reach USD 54.75 billion by 2029, registering a CAGR of 6.75% during the forecast period of 2022-2029. Alternate Current-Direct Current (AC-DC) accounts for the largest application segment in the respective market owing to the high use for monitoring and modifying the current and voltage of electrical power. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

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COVID-19 Impact on Power Supply Market

The COVID-19 had a negative impact on the power supply market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand power supply technology. The supply chain got hampered during the pandemic along with delay logistics activities. However, the power supply market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.

Global Power Supply Market Scope and Market Size

The power supply market is segmented on the basis of vertical, type and output power. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

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