Industrial Power Supply Market to Witness Huge Growth by 2027

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The global Industrial Power Supply Market is expected to grow from USD 10.8 billion in 2022 to USD 14.5 billion by 2027, at a CAGR of 6.0% during the forecast period.  The growth of the industrial power supply market can be attributed to growing investments in energy-efficient devices in the industrial sectors and the adoption of robots across several industries. The growing sale in electric vehicles is also an important driver for the industrial power supply market.

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The robotics segment, by vertical, is expected to grow at the highest CAGR during the forecast period

The robotics segment is expected to register the highest CAGR of 7.9% during the forecast period. Robotics applications of industrial power supplies include factory and warehouse automation systems, goods handling and transportation systems, manufacturing and packaging systems, and automated assembly systems.

Asia Pacific is expected to dominate the global industrial power supply market

In this report, the industrial power supply market has been analyzed for five regions, namely Asia Pacific, North America, Europe, Middle East & Africa, South America. Asia Pacific is expected to lead the market during the forecast period. The growing inclination of China and Japan toward industrial automation and the rising adoption of electric vehicles in the region are among the reasons for the region’s significant market size

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Some of the top players in the Industrial Power Supply Market include TDK Lambda (Japan), Siemens (Germany), Delta Electronics (Taiwan), ABB (Switzerland), and Murata Power Solutions (US).