Global AC Power Sources Market set to grow to USD 1.81 billion by 2033 with a CAGR of 4.64%

From GlobeNewswire: 2024-07-13 15:00:00

The Global AC Power Sources Market is projected to grow from USD 1.15 billion in 2023 to USD 1.81 billion by 2033, with a CAGR of 4.64%. AC power sources are essential for various industries, including telecommunications, automotive, aerospace, and consumer electronics, driving market growth. Energy efficiency and sustainability are becoming increasingly important, leading to the development of more efficient power sources. The single-phase segment is expected to dominate the market, and linear AC power sources are growing rapidly due to high demand in various industries.

Asia Pacific is anticipated to hold the largest share of the global AC power sources market, driven by industrialization, urbanization, and the increasing demand for electronics. North America is forecasted to grow the fastest, with key advancements in consumer electronics and electric vehicles. Key vendors in the market include Keysight Technologies, AMETEk Inc., and Chroma ATE.

Recent developments include Chroma’s production of a high-power AC power supply system for EVSE testing. The market is segmented based on phase type, modulation type, and application, with regions like Europe, Asia Pacific, and North America examined. The Global AC Power Sources Market is expected to see significant growth from 2023 to 2033, offering opportunities for industry players and investors alike.



Read more at GlobeNewswire: Global AC Power Sources Market Size To Worth USD 1.81