Industrial power supply units market projected to exceed $24.8 billion by 2032 with sustained growth

From GlobeNewswire: 2024-12-11 07:00:00

The industrial power supply units market is projected to reach USD 24.8 billion by 2032 due to increased automation in manufacturing and industrial sectors. This growth is driven by the need for reliable power supplies to operate advanced machinery, robotics, and automated systems, as well as the global shift towards renewable energy sources.

The expansion of data centers, cloud computing, and electric vehicles fuels the demand for uninterrupted power supply systems. Technological advancements like advanced switching techniques and integration with smart grids improve performance. The switch mode power supply units segment led the market, with a forecasted CAGR of around 5.6% from 2024 to 2032.

Three-phase power accounted for approximately 53% share of the market in 2023. This power type is ideal for operating large industrial machinery efficiently without additional starters. The U.S. industrial power supply units market exceeded USD 3.7 billion in 2023 and is expected to grow at a CAGR of over 5.2% through 2032.

Overall, the industrial power supply units market is expected to see sustained growth driven by technological advancements, renewable energy integration, and increasing automation across various sectors. The market is evolving to meet the changing demands of modern industries and technologies.



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