CHICAGO, Feb. 12, 2020 /PRNewswire/ -- According to the new market research report "DC Power Supplies Market by Type(AC-DC, & DC-DC), Output Power(Up to 10 kW,10–100 kW, & 100-250 kW), Application(Aerospace, Defence & Government Services; Automotive; Energy; Wireless Communication & Infrastructure, Others), Region - Global Forecast to 2024", published by MarketsandMarkets™, the DC Power Supplies Market is expected to reach USD 454 million by 2024 from an estimated value of USD 361 million in 2019, at a CAGR of 4.7 % during the forecast period. The growing wireless communication & infrastructure and aerospace & defense segment in the countries such as US & Canada and growing demand for industrial automation and consumer electronics sector in countries such as India & Japan is anticipated to drive the demand of the DC Power Supplies Market.
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The AC-DC segment is expected to be the largest DC Power Supplies Market, by type, during the forecast period
DC power supplies are suitable for testing various electronic devices used in end-users such as consumer electronics, medical & healthcare, automotive, wireless communication & infrastructure, and avionics & defense. Growing usage of AC-DC in the various medical and other low output industrial equipment is the driving factor for this market.
The low output (up to 10 kW) segment is projected to account for a significant share of the DC power supplies during the forecast period
The low output DC power supplies are likely to dominate the market during the forecast period. Low output power supplies are generally used for are used for testing low power automotive components, medical equipment, consumer electronics & appliances, and wireless communications. They have the advantages such as reduced cost, weight, and size of the power control system. Growing usage of DC power supplies for testing low power automotive components and consumer electronics has led to the rise in its demand which is expected to speed up the growth for DC Power Supplies Market
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The automotive segment is projected to account for the largest of the DC Power Supplies Market share during the forecast period
The automotive sector is predicted to dominate the DC power supplies industry based on its application and is majorly used for testing of electronic components used in the automotive industry such as electric cars, and hybrid & electric vehicles. Power battery testing, fuel cell testing, AC/DC charging station, DC-DC converter testing, on-board chargers & charging interface testing, and high power battery testing are some of the areas wherein automotive electronic testing is done using DC power supplies, which is likely to upsurge the DC Power Supplies Market.
North America is projected to dominate the global DC Power Supplies Market during the forecast period
In this report, the DC Power Supplies Market has been analyzed concerning five regions, namely, Asia Pacific, North America, Europe, South America, and the Middle East & Africa. North America is expected to lead the market during the forecast period. The growing wireless communication & infrastructure and aerospace & defense segment in countries such as the US & Canada are the driving factors for the growth of the DC power supply market in North America.
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To offer an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players such as AMETEK (US), Keysight Technologies (US), TDK Lambda (Japan), Chroma ATE (Taiwan), Good Will Instrument (Taiwan), Rohde & Schwarz (Germany), and B&K Precision (US), Tektronix (US), and MEAN WELL (Taiwan).
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