AC Power Sources Market Trends & Opportunities with Forecast 2022-2027

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The AC power sources market size will grow to USD 1.7 Billion by 2027 from USD 1.5 Billion in 2022, at a CAGR of 2.2% during the forecast period. The growth of the AC power sources market is mainly driven by the increasing need of testing the equipment used for renewable power generation such as PV inverters, solar cells, motors, and converters; avionics devices such as air traffic management systems, sensors, unmanned aircraft systems, and Unmanned Aerial Vehicles (UAV); and electric vehicles components.

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AC Power Sources Market Trends
AC Power Sources Market Trends

An AC power source is a programmable device, which provides controlled AC power for equipment testing and measurement purposes. It can be programmed to vary the voltage, phase, and frequency of the current supplied to a receiving device or system for simulating real-world AC power conditions. AC power sources are also referred to as AC power supplies and regenerative grid simulators.

The AC power sources market based on application has been segmented into Aerospace, Defense & Government Services, Energy, Wireless Communication & Infrastructure, Consumer Electronics & Appliances, and Others. Due to the rising utilization of renewable energy sources, such as solar energy, the demand for devices such as PV inverters and batteries, has grown significantly. Government and various institutions across countries have established regulations to ensure the safety and efficiency of grid-connected devices.

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A regenerative grid simulator is an AC power source used for testing PV inverters and other grid-tied equipment. These grid simulators have capabilities to mimic the grid behavior. They have the capability of sinking reverse power, then converting it and feeding it back to the real grid. Such features help users to perform tests that simulate the behavior of the grid while benefiting from energy saving. This is vital for conducting reliability, life, and burn-in tests. Energy savings can reach up to 90% with the above-mentioned factors. Thus, energy-efficient power sources integrated with renewable energy sources are expected to drive the growth of the AC power sources market during the forecast period