The Switching Power Supply Market is forecast to reach $39.964 billion by 2025, after growing at a CAGR of 5.68% during the period 2019-2025. Advancements in the semiconductor industry is attributed to increasing adoption of compact and efficient power supply equipment which offers higher efficiency and superior product life. Various R&D initiatives in the switching power supply market have resulted in replacement of the traditional silicon metal-oxide-semiconductor with the GaN FET which ensures faster switching speeds, higher efficiency and performance, thus escalating growth of the switching power supply market.
Switching Power Supply Market Segment Analysis - By Form Factor
ATX form factor accounted for a segment share of 32.7% in the switching power supply market globally in 2018. ATX motherboard enables advanced control facilities in which the BIOS program continually checks the CPU temperature and voltages. ATX motherboards are thus being deployed in data centres for use in server boards which require improved thermal design to eliminate CPU preheating.
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Switching Power Supply Market Segment Analysis - By End User
Industrial segment is the largest end-user segment in the switching power supply market, and it held a share of 20% in 2018. The industrial switching power supply market is poised to grow at a CAGR of 2.8% in the forecast period. According to the International Federation of Robotics (IFR), robot sales increased by 30% in 2017 with 381,000 units being shipped globally, and demand for robotic systems is set to grow with the expansion of automotive assembly plants especially in the APAC region. Switching power supplies, which are an integral subsystem to robotic systems, are thus set to witness a prominent upsurge during 2019-2025.
Switching Power Supply Market Segment Analysis - By Geography
APAC holds the largest share of 33.54% in the global switching power supply market and is expected to grow at a CAGR of 5.98% during 2019-2025. The APAC region is witnessing significant growth in the automotive industry as it hosts major automotive OEMs in countries such as Japan and China. Japan is a leader in the automotive industry with the presence of top automobile OEMs including Toyota Motor Corporation, Suzuki Motor Corporation, Honda Motor Co., Ltd., and Nissan Co., Ltd. and others, which are incorporating switching power supply for regulating power within automobile components. Thus, growth of the automobile industry is set to drive the switching power supply market.
APAC region comprises of various leaders in the telecom industry, especially in China and India. The Indian telecommunications industry is growing, especially in the rural areas. Telecom services are being accessed by 58.45% of the rural population in India as of July 2018. Thus, the Indian rural market will be a key driver for the telecommunications industry. As switching power supply is used in the telecommunication and automotive industries, growth in these industries will lead to significant growth in the switching power supply market as well.
Switching Power Supply Market Drivers
Rapid digitalization
Increasing digitalization in various industrial verticals such as power generation, transmission and distribution, water treatment, gas distribution, manufacturing, oil and gas, chemicals and so on is driving demand for industrial PCs which are being used for process control and monitoring applications. The adoption of edge and fog computing for faster data processing is opening up new opportunities for digitalization. Since these data servers and industrial computers incorporate switching power supplies, their increasing adoption of these systems will also help drive the switching power supply market.
Rapid Surge in the electric vehicle shipment
In 2018, the global electric car fleet exceeded 5.1 million, with sales of new electric cars doubling sales figures from 2017. Increasing environmental concerns regarding vehicular emissions from internal combustion engines is driving the shift towards electric vehicles which have little or no emissions. The increase in demand for electric vehicles is thereby set to drive the switching power supply market as these power conversion systems are used for on-board as well as off-board computing systems.
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Switching Power Supply Market Challenges
Declining Desktop PC Shipment
As per the IDC, the worldwide market for PCs experienced an overall decline of 2.1% in Q4 2018. This decline is anticipated to continue in the coming future due to a shift towards mobile computing devices. Since desktops integrate use of switching power supply systems, decline in their market growth would negatively impact the switching power supply market growth during the forecast period.
Market Landscape
Partnerships and acquisitions along with product development and up-gradation are key strategies adopted by players in the switching power supply market. In 2018, the market for switching power supplies was analyzed to be moderately fragmented with top 10 players accounting for 67.15% of the market share. Major players in the switching power supply market include Delta Electronics Inc., Artesyn Embedded Technologies, Lite-ON, Inc., Bel fuse Inc., TDK Lamda Corporation, Murata Manufacturing Co., Ltd., Cosel Co., LTD, Meanwell Enterprises Co. Ltd., FSP Group, and Salcom Plc.
Partnerships/Mergers/Acquisitions
In May 2019, TDK-Lambda acquired Nextys SA to expand its presence in the DIN rail power supply market. Through this acquisition, TDK-Lambda will strengthen its market position in the fast-growing DIN rail power supply business.
In February 2019, Taiwan-based Delta Electronics Inc. announced a partnership with U.S.-based Ingram Micro Inc., a leading distributor of ICT products. This will enable Delta to offer its Uninterruptible Power Supplies (UPS) and Datacenter Infrastructure Solutions to the DACH region (namely Germany, Austria and Switzerland).
R&D Investments/Funding
Canada-based GaN Systems offers a wide range of Gallium Nitride based switching transistors and diodes for clean power conversion applications. The company raised $20m in a Series C round in 2015, and in 2017, it was infused with fresh capital from Delta and BMW i Ventures.
Switching Power Supply Market Research Scope:
The base year of the study is 2018, with a forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the Switching Power Supply market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Switching Power Supply market, and their specific applications in the consumer electronics, industrial, defense, aerospace, medical, and others.
Key Takeaways
The switching power supply market has been analyzed to be moderately fragmented. Major players in this market include Delta Electronics Inc., Artesyn Embedded Technologies, Lite-ON, Inc., Bel fuse Inc., TDK Lamda Corporation, Murata Manufacturing Co., Ltd., Cosel Co., LTD, Meanwell Enterprises Co. Ltd., FSP Group, Salcom Plc in the switching power supply market.
ATX sub-segment has been analyzed to hold major market share in 2018, owing to the wide-scale use of these power supplies in desktop PCs and servers.
The demand for switching power supplies is expected to witness significant upsurge during the forecast period, owing to the growing number of hyper-scale and colocation data centres across the globe.
APAC registered the largest market share of 33.54% to the global switching power supply market in 2018, led by growth in the telecommunication and automotive industries in India and China
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