Power Supply Devices Market - Growth, Trends, COVID-19 Impact and Forecasts (2022 - 2027)

Power Supply Devices Market - Growth, Trends, COVID-19 Impact and Forecasts (2022 - 2027)

The power Supply Devices Market is expected to register a CAGR of over 6.7% during the forecast period. The growing adoption of home and building automation systems, the emerging telecommunications sector, and the increasing demand for energy-efficient appliances are the key factors propelling the growth of this market.

Key Highlights

• The rising demand for energy-efficient power supply devices is propelling the market forward. Although nearly all domestic electronic products and office tools plug into wall outlets and draw 120 volts of alternating current (AC), most of their circuitry is designed to operate at a much lower direct current voltage. Power supply adapters are the devices that perform this conversion. According to studies, most homes have 5-10 AC-DC power supply adapter-using devices, such as cordless phones, mobile phones, answering machines, and hair dryers. Further, Siemens has introduced the Sitop PSU100E DC power supplies, which expand the company's range of power supplies for 48-volt devices.
• Moreover, the increasing levels of automation in medical applications require power supplies to deliver extra power during peak operation times run dynamic loads, e.g., motor startup. The power supply must be designed with a high dynamic control level and a power stage that sustains repetitive peak loads to fulfill such conditions.
• In September 2021, New Yorker Electronicsreleased a new Polytron Devices PFMUIC700 Series of AC-DC power supplies designed for medical applications. The Polytron PFMUIC700 series features ultra-compact size of 6.7 x 3.66 x 1.61 inch (170.2 x 93.0 x 41.0mm) in a fully enclosed plastic case. It introduced a 700W series of 12V, 15V, 24V, 28V, and 48V power supplies.
• Also, in December 2021, Delta added a new 90W output model to its MEA Series Medical AC-DC desktop adapters, the MEA-090A. It is 20% smaller than the previous generation and has four output voltages of 12 V, 15 V, 19 V, and 24 V. The MEA-090A complies with Efficiency DoE Level VI and ErP Lot 7 with up to 89% efficiency, no-load power consumption of 0.15 W 115 Vac and 230 Vac input, touch current 0.1 mA (under standard conditions), and electric shock protection complying with 2 x MOPP. It is appropriate for various medical applications, including CPAP, patient monitoring, portable ultrasound, and medical display. Such developments will further drive market growth.
• Further, the market's growth is fueled by the demand for electronic systems, including infotainment and enhanced safety, through the integration of ADAS in modern automobiles. The rising adoption of both battery-powered and hybrid electric vehicles has propelled the demand for DC-DC converters, as it is vital for converting a 24V or 48V power supply into a 12V power supply for ensuring the safe and reliable operation of onboard electronic systems.
• In April 2022, G-Pulse, an automotive ECU solution and mobility service provider came under a constructive alliance with Silicon Mobility to design a high voltage multiphase DC-DC converter for upcoming new energy vehicles in the market. The high voltage DC-DC converter shall be compatible with BEV, HEV, FCEV, and PHEV.
• Further, COVID-19 harmed the power supply market due to the strict lockdowns and social distancing used to contain the virus's spread. Economic uncertainty, a business shutdown, and low consumer confidence impacted demand power supply technology. During the pandemic, the supply chain was hampered by delays in logistics activities. However, due to the easing of restrictions, the market began to revive as companies resumed their operations, and the manufacturers started to operate at almost full capacities.

Key Market TrendsGrowing Adoption of Smart Phones, Electronics, and Gadgets

• Smartphones and electronic gadgets are becoming increasingly popular in regional as well as international markets. New, innovative, and technologically advanced electronic products are also becoming more popular. This trend is expected to increase the production and supply of AC-DC power supply adapters used in the charging and operation of these electronic devices.
• Domestic electric appliance industries in various countries have been steadily growing in recent years. The current trend is expected to continue in the near future. As the industry's competition increases due to adopting new mobile phones and other electronic devices, enterprises are seeing transformation and improvements in AC-DC adapters with varying current and voltage ranges.
• Further, according to MeitY, the manufacturing output of India's electronics sector is expected to exceed INR 5.5 trillion in FY 2021. It is one of India's fastest-growing industries, particularly mobile phone manufacturing. India has favorable government policies and regulatory support for the electronics industries and increasing domestic and export demand.
• Another factor driving the increase in the production of AC-DC power supply equipment is the supply-demand relationship. Although China has many registered manufacturers, the country's switching power supply industry is still growing. As a result of the heightened demand for electronic devices that require AC-DC power supply adapters, the number of switching power supply equipment providers is expanding globally.
• Furthermore, Huawei dominates the Chinese smartphone market, accounting for more than one-third of total smartphone shipments. Following the trade ban, the OEM has focused its efforts on the domestic market, which has grown by 12% yearly. China now accounts for 60% of Huawei's global shipments.

Asia Pacific is Expected to Dominate the Market

• The Asia-Pacific region is expected to dominate the global power supply market; because of the high demand for electronics, such as portable healthcare electronics and white goods, as well as the region's increasing digitization and automation, power supplies are expected to be in high demand.
• Further, the Ministry of Electronics and Information Technology recently published the second volume of the Vision document on Electronics Manufacturing in India, which stated that the Indian electronics manufacturing industry will grow from USD 75 billion in 2020-21 to USD 300 billion by 2025-26. Mobile phones, consumer electronics (TV and audio), IT hardware (laptops, tablets), industrial electronics, auto electronics, electronic components, strategic electronics, LED lighting, printed circuit board assembly (PCBA), wearables and hearables, and telecom equipment are expected to boost India's electronics manufacturing.
• Further, as per the National Bureau of Statistics of China, the value added in China's electronics manufacturing industry increased by 15.7% from the previous year in 2021, reaching the highest point of the given period.
• In addition, according to IBEF, mobile manufacturing is expected to grow from USD 30 billion to USD 100 billion in annual production growth, accounting for nearly 40% of industry growth. Such developments in electronics will further propel the market growth.
• In February 2022, ABB launched its all-in-one electric vehicle (EV) charger in India. With dynamic power distribution, the new Terra 360 modular charger can charge up to four EVs at the same time. The charger has a maximum output of 360kW and can charge any electric vehicle in less than 15 minutes. In addition, ABB has installed Over 14,000 DC fast chargers in over 80 countries.
• In November 2021, G-Pulse and Silicon Mobility announced a partnership to develop a high voltage multiphase interleaving bidirectional DC-DC converter platform for new energy vehicles (NEVs), such as fuel cell electric vehicles (FCEVs), battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs) (PHEV).

Competitive Landscape

The market is moderately consolidated and highly competitive owing to several vendors competing for an enhanced market share.

• November 2021 - EPC Launched a 2 kW, 48 V/12 V DC-DC Demonstration Board for More Efficient, Smaller, Faster, Bidirectional Converters for Cars. The DC-DC converter is three times faster, greater than 35% smaller and lighter, and offers greater than 1.5% higher efficiency and lower overall system costs compared to silicon MOSFET solutions.
• February 2021 - Vitesco Technologies announced a new DC/DC converter, the heating discs of the electrically heated EMICAT catalyst can now also be supplied with electricity in high-voltage vehicles. The innovative e-catalyst enables the lowest emissions in real operation, which is becoming increasingly important considering forthcoming regulations such as Euro 7. The newly-developed DC/DC converter now generates the low voltage and power for the heating disc from the high voltage of the drive system.

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• The market estimate (ME) sheet in Excel format
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