CHICAGO, July 22, 2022 /PRNewswire/ — Industrial food market should go from $10.8 billion in 2022 at $14.5 billion by 2027, at a CAGR of 6.0% according to a new report from MarketsandMarkets™. The growth of the industrial power supply market can be attributed to the growing investment in energy-efficient devices across industrial sectors and the adoption of robots across several industries. Growth in electric vehicle sales is also an important driver for the industrial power supply market.
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Ultra low power (up to 500W), by power output, is expected to be the largest industrial power market during the forecast period
By output power, the industrial power supply market has been segmented into very low power (up to 500W), low power (500-1000W), medium power (1000W-10kW), high power (10-75 kW), and very high efficiency (75−150 kW). very low power (up to 500W) is expected to be the largest segment during the forecast period. The growing use of automation solutions and digital technology by industries based in China, Indiaand Japan is the main reason for the growth of this market.
Robotics segment, by industry 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. Robotic applications of industrial power supplies include factory and warehouse automation systems, material handling and transportation systems, manufacturing and packaging systems, and automated assembly systems.
Asia Pacific is expected to dominate the global industrial power supply market over the forecast period
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 dominate the market over the forecast period. The growing trend of China and Japan towards industrial automation and growing adoption of electric vehicles in the region are among the reasons for the large market size of the region
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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the major players in the Industrial Power Supply market. These include TDK Lambda (Japan), Siemens (Germany), Delta Electronics (Taiwan), ABB (Swiss) and Murata Power Solutions (USA). The major players are trying to gain a foothold in the markets of developed countries and are adopting various strategies such as product launches, contracts, agreements, partnerships, collaborations, alliances, acquisitions and expansions to increase their market shares. respective market.
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