Power Supply Market Huge Growth Opportunity between 2018–2023

 The global Power Supply Market is estimated to grow from USD 25.20 billion in 2018 to USD 34.92 billion by 2023, at a CAGR of 6.7% from 2018 to 2023. Increasing adoption of home and building automation systems, the emerging telecommunications sector, and rising demand for energy-efficient devices/appliances are driving the power supply market growth. Also, the increasing usage of power supplies for various lighting applications will drive the need for AC-DC and DC-DC power supplies in the coming years. Along with lighting, industrial and consumer electronics are the key verticals driving the power supply market.

Power supply with low output power expected to account for largest market size

Power supply with low output power is expected to hold the largest size of the power supply market in 2018. This can be attributed to the increasing use of AC-DC power supplies with low output power in lighting, telecommunications, and consumer electronics. Moreover, various industrial applications, such as home and building automation systems, operate in this power range due to the benefits such as reduced power control system size, weight, and cost; this also makes the consumption of electricity more efficient. Hence, owing to the increasing demand for energy-efficient devices/appliances and advancements in telecommunications and medical sectors will upsurge the growth of power supplies with low output power.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=52394163

A power supply is a device that accepts an AC power input, rectifies and filters it and then applies the resulting DC voltage to a regulator circuit that provides a constant DC output voltage. There are a wide variety of AC-DC and DC-DC power supplies that can have an output voltage from less than 1 V to thousands of volts and output power ranging from 0.1 W to thousands of watts. AC-DC and DC-DC power supply applications from verticals such as lighting, industrial, consumer electronics, and medical are driving the market by integrating it in various devices such as street lighting, home lighting, wearable bands, smartphones, and patient-monitoring devices.

The power supply market in APAC is expected to grow at the highest CAGR

APAC is expected to dominate the overall power supply during the forecast period. This growth can be attributed to the strong demand for consumer equipment, including portable healthcare electronics and white goods. Increasing digitization and automation in various sectors is likely to generate demand for power supplies in APAC.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=52394163

Major players operating in the Power Supply Market include MEAN WELL (Taiwan), TDK Lambda (Japan), Siemens (Germany), General Electric (US), XP Power (US), Murata Power Solutions (Japan), Artesyn (US), Phoenix Contact (Germany), Delta Electronics (Taiwan), Cosel (Japan), PULS (Germany), CUI (US), AcbelPolytech (Taiwan), Salcom (Finland), LITE-ON Power System Solutions (US), FSP (Taiwan), Power Innovation (Germany), MTM Power (Germany), and Power Systems & Controls (US).

Protective Relay Market: Growing Investments in Electrical Infrastructure to Boost the Market Growth

The global Protective Relay Market is projected to reach USD 2.7 billion by 2025 from an estimated market size of USD 2.0 billion in 2020, at a CAGR of 5.7% during the forecast period. The factors driving the market include increasing renewable energy capacity addition. Additionally, the replacement of old electromechanical and static relays with new numeric relays are creating growth opportunities for the protective relay market.

The Utility segment is expected to hold the largest share of the protective relay market

Utilities had the largest share (45%) of the protective relay market, by end-users, in 2019. This is due to the large scale use of protective relay by utilities in various applications, such as transformers, feeders, busbars, and high voltage substations. The utility segment is expected to continue its dominance over the forecast period due to the development of new distribution network and grid expansion projects, replacement of old electromechanical protective relays with new and more advanced numeric relays, substation automation for improved power quality, and implementation of smart grids for better grid management.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=198956724

The transformer is expected to be the largest segment of the protective relay market

The transformer segment is expected to grow at the highest rate during the forecast period due to the continuous maintenance of electricity distribution infrastructure and the expansion and upgrading of the power grid and to accommodate fluctuating renewable energy in Asia Pacific, North America, and Europe.

The digital & numerical segment of the protective relay is expected to grow at the highest rate.

The digital & numerical segment is expected to grow at the highest rate, owing to an increased focus on substation automation, smart grid implementation, and distribution and transmission infrastructure development. Digital & numeric protective relays are advanced relays that feature multiple protection functions in one unit, along with metering, communication, self-test functions, and others. These relays use software-based protection algorithms for the detection of faults and are also known as micro-processor type protective relays. These types of advanced features of digital relay make them more attractive in the market than the other electromechanical relay.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=198956724

The Asia Pacific is expected to be the largest protective relay market

In this report, the protective relay market has been analyzed with respect to five regions, namely, Asia Pacific, North America, Europe, South America, and the Middle East & Africa.

The Asia Pacific is expected to be the largest protective relay market during the forecast period. The growth of protective relay in Asia Pacific is due to increasing renewable energy capacity addition. Additionally, focus on substation automation under IEC 61850 standard and increased grid infrastructure activities are expected to drive the protective relay market in Asia Pacific during the forecast period.

Both global and regional players dominate the global protective relay market. The leading players in the global Protective Relay Market include ABB (Switzerland), GE (US), Schneider Electric (France), Siemens (Germany), and SEL (US).