The Power Supply Market is estimated to grow at a CAGR of 6.6% from 2019 to 2028 to succeed in USD 1,218.6 million by 2028 from USD 830.5 million in 2019. The base year considered for the study is 2016 and therefore the forecast for the market size is provided for the amount between 2019 and 2028. In the current market scenario, there’s a growing demand for power supply for medical devices. Growth is further driven by funding and infrastructural developments, advancements in medical power supply products, and increased focus towards home healthcare.

Top Driver: Growing demand in industrial and manufacturing segment will drive the market growth

The industrial and manufacturing segment accounted for the major share in the power quality equipment market in 2019 and is projected to dominate the market during the forecast period. The Industry 4.0 initiative is being applied to vehicles and electrical machinery to facilitate remote diagnostics, remote maintenance, and remote data capture. These initiatives have increased the need for data centers, servers, and communication systems. With the increasing use of electronic equipment, the need for protection systems for such critical equipment has also been increasing. This is driving the market for power quality equipment in the industrial and manufacturing segment, which is expected to create new revenue pockets for the power quality equipment market during the forecast period. Therefore, based on the above-mentioned factors, the industrial and manufacturing segment is expected to dominate the market over the forecast period.

AC-DC power supply segment to Make Crucial Contribution for Growth of Power Supply Market

The AC-DC power supply segment will grow at fastest rate during forecast period. AC-DC power supplies employ a transformer to convert the input voltage to a higher or lower AC voltage. A rectifier is employed to convert the transformer output voltage to a varying DC voltage, which is skilled an electronic filter to convert it to an unregulated DC voltage. As the power from the main power supply cannot be used directly to power medical devices or other electrical appliances, it must be converted to a regulated, stable direct current, which is utilized to run the electrical device. This type of power supply is employed in MRI systems, CT scanners, X-ray monitors, and ECG monitors.

 Home medical equipment comprise infusion pumps, pulse oximeters, blood pressure monitors, cerebral oximeters, PAP devices, and other devices used in home care settings. AC-DC power supply is required to charge batteries and power the home medical equipment. A maximum 25W power supply is required to run an infusion pump. The home medical equipment segment is estimated to account for 28.7% of the Power Supply Marketing 2019. This segment is expected to reach USD 365.0 million by 2028 from USD 254.3 million in 2019, at a CAGR of 7.5% during the forecast period, driven by the increasing adoption of portable devices, thanks to their simple use and cost-efficiency.

North America dominated to witness fastest growth in Global Power Supply Market

The North American market is expected to dominate the global power quality equipment market during the forecast period. The United States is investing in various protection systems for urbanized infrastructure development. The North American region has an aging T&D infrastructure, depending on which the region is more prone to power outages.  According to an estimate; approximately 6% of the total electricity generated is usually lost during transmission and distribution from the grid to the consumer.

Players to Focus on Power Supply Market

Key players in this market are

• SL Power Electronics,
• XP Power,
• TDK Lambda,
• Emerson Network,
• Powerbox,
• Excelsys Technology,
• ICCNexergy, Astrodyne Corporation,
• Delta Electronics Inc.,
• CUI Inc.,
• Globtek Inc.,

New Overland Park Clinic;  For example, the New Overland Park Clinic was opened in Kansas, U.S. in June 2017, which offers medical imaging services.

Methodist Center for Diagnostic Imaging : In December 2016, the Methodist Center for Diagnostic Imaging was set up in Mansfield, Texas (U.S.) to offer open MRI, low-dose CT, ultrasound, and X-ray imaging services.

Scope of the Report

By Type

• Enclosed
• Open frame
• External
• Configurable
• U Bracket
• Encapsulated

 By Application

• Diagnostic equipment
• Medical Monitoring Equipment

By Technology

• AC-DC
• DC-DC

 By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report 

1. It provides a technological development map over time to understand the growth rate of the industry.

2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.

3. It renders definite analysis for changing competitive dynamics.

4. It builds a seven-year estimate based on how the market is predicted to grow.