Alternating Current Power System Market 2024-2028
The alternating current power system market is forecasted to grow by USD 64.4 bn during 2023-2028, accelerating at a CAGR of 5.04% during the forecast period. The report on the alternating current power system market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing use of AC in high-voltage power transmission, rising demand from telecom industry, and increasing demand for AC power systems in power generation plants.
Technavio's alternating current power system market is segmented as below:
- By Type
- Three-phase
- Single-phase
- By End-user
- Non-residential
- Residential
- By Product
- Generator
- Switchgear
- UPS
- PDU
- Others
- By Geographical Landscape
- APAC
- North America
- Europe
- South America
- Middle East and Africa
This study identifies the rising integration of renewable energy sources with grid as one of the prime reasons driving the alternating current power system market growth during the next few years. Also, growing use of flexible AC transmission systems in place of conventional systems and growing use of E-commerce will lead to sizable demand in the market.
The report on the alternating current power system market covers the following areas:
- Alternating current power system market sizing
- Alternating current power system market forecast
- Alternating current power system market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading alternating current power system market vendors that include ABB Ltd., Advanced Energy Industries Inc., AEG Power Solutions BV, Delta Electronics Inc., EnerSys, General Electric Co., Hitachi Ltd., Infineon Technologies AG, Itech Electronic Co. Ltd., Joe Powell and Associates Inc., LITE ON Technology Corp., LS ELECTRIC Co. Ltd., MEAN WELL Enterprises Co. Ltd., Mitsubishi Electric Corp., Schaefer Inc., Schneider Electric SE, Siemens AG, Vertiv Holdings Co., Vicor Corp., and Zhejiang CHINT Electrics Co. Ltd.. Also, the alternating current power system market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.