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Research Nester published a report titled“Industrial Power System Market : Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of theglobalindustrial power system market in terms of market segmentation by type, technology, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global industrial power system market is estimated to occupy a sizeable revenue by growing at a CAGR of during the forecast period, i.e., 2022 – 2031, ascribing to the rising demand for energy-efficient devices in the industrial sector, and growing need to generate power by techniques minimizing exploitation of natural resources. Along with this, increasing adoption of robotics, and escalating production of electric vehicles around the world are also expected to accelerate the growth of the market in the forthcoming years.
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The market is segmented by type, technology and end user. Based on type, the DC-DC convertors segment is anticipated to acquire the largest share during the forecast period on the back of the rising demand for DC power sources in various industrial applications, including automotive, aeronautics and robotics. Additionally, by end user, the transportation segment is projected to grab the largest share over the forecast period attributing to the surging government initiatives for supporting the adoption of electric automobiles, especially in the UK, Germany, France and China.
Geographically, the global industrial power system market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America is evaluated to occupy the largest share in the market during the forecast period attributing to the rising demand for industrial power supply to deliver power to the growing electricity load in the region. Moreover, the market in Asia Pacific is also assessed to witness noteworthy growth over the forecast period ascribing to the escalating industrialization and urbanization in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Demand for Energy-Efficient Devices in the Industrial Sector Worldwide to Drive Market Growth
The industrial sector is responsible for using a larger amount of delivered energy as compared to other end users. This increase in energy consumption also leads to rise in emissions of greenhouse gases, air pollution and global warming, which is projected to promote the utilization of energy-efficient devices that minimize exploitation of natural resources. This in turn is anticipated to drive significant growth to the market in the near future.
However, difficulty to sell power supply products in lower economic regions is expected to operate as key restraint to the growth of the global industrial power system market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global industrial power system market which includes company profiling of XP Power, ABB Ltd., Delta Electronics, Inc., Siemens AG, TDK Corporation, Bel Fuse, Inc., COSEL Co., Ltd., MEAN WELL Enterprises Co., Ltd., Advanced Energy Industries, Inc., Eaton Corporation, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global industrial power system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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