Enjoy complimentary customisation on priority with our Enterprise License!
The global DC power system market is projected to reach a value of USD 42.34 billion by 2028, at a CAGR of 7.7% from 2023 and 2028. The growth of the market depends on several factors, including the growing Internet penetration and low price data traffic, the rising demand from the telecom industry, and the surging demand for LEDs.
The dc power system market report offers extensive research analysis on the market, with a categorization based on Type, including 0-24V DC , 48V DC , and more than 48V DC. It further segments the market by End-user, encompassing industrial, telecom, commercial, and others. Additionally, the report provides Geographical segmentation, covering APAC, Europe, North America, Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.
Market Forecast 2024-2028
To learn more about this report, Request Free Sample
It is a rapidly growing market globally due to increasing demand for reliable and efficient power supply in various sectors. Key players in this market include manufacturers such as Schneider Electric, ABB Ltd., Eaton Corporation, Delta Electronics, and Huawei Technologies. The market is driven by various factors, including the growing adoption of renewable energy sources like solar and wind power which require DC power systems for integration into the grid. The telecommunications industry is a major end-user of power systems, as they are crucial for providing uninterrupted power supply to telecom towers and infrastructure.
LED lighting is one of the key applications for direct current power systems. In addition, LED lighting is witnessing adoption in both commercial and residential segments of the market. Furthermore, the low cost and enhanced lifespan, compared with traditional lamps, make LED lighting an ideal solution for customers.
For instance, LED offers a lifetime of up to 10 years. Therefore, the growing adoption of LED lighting plays a pivotal role in the growth of the global market. Furthermore, the compact size, low heat dissipation, zero warm-up time, low energy consumption, enhanced durability, and low maintenance expenses provide cost savings of up to 50% for end-users, thus reducing the total cost of ownership. Hence, such factors are driving the market growth during the forecast period.
The adoption of data centers is fuelled by the high demand for data storage and transfer due to the innovation of cloud computing and the increasing number of connected devices. In addition, the alternating current power source is adopted across data centers. Furthermore, alternating current power is converted to direct current power at the server.
Moreover, about half of the power supplied to a data center is lost in power conversion and distribution. In addition, direct current power distribution takes less space than alternating current power distribution, which will create more space for the server racks and cooling equipment efficiency in the data center. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market trends and analysis during the forecast years.
The manufacturers are subject to heavy cost pressures due to an increase in demanding consumer base. In addition, with the issues of product differentiation, there is a marked variation in prices among manufacturers. Furthermore, multiple small and non-branded players rival major brands.
Moreover, major players such as ABB, Delta Electronics, Lite-on System Solutions, and Huawei Technologies contribute huge investments to the worldwide market demands. In addition, these companies have the resources to push their products to wider end-users. Furthermore, major players differentiate their products by offering high quality, which increases the manufacturing cost and product price. Hence, such factors are hindering the market growth during the forecast period.
There are significant advancements and a surge in popularity across various industries. DC power supplies including uninterruptible power supplies (UPS) and programmable DC systems, are gaining traction in the electricity market. They find extensive use in industrial power, telecom power, medical power, and merchant power applications. The versatility of DC systems makes them a preferred choice for specific requirements, contributing to their growing presence in the global AC and DC power supply landscape.
The 0-24V power supply market segment is estimated to witness significant growth during the forecast period. The growth of this segment is mainly attributed to the high growth in the use of mobile devices, smartphones, computers, and electrical appliances, which mostly use 0-24V energy systems embedded DC electrical systems. In addition, developing economies such as India and China are leading the adoption of electrical appliances with the improving standard of living due to increasing economic activities.
Customised Report as per your requirements!
The 0-24V power systems market segment was the largest segment and was valued at USD 11.03 billion in 2018. Moreover, this is creating the demand for DC voltage such as 0-24V. in these economies. In addition, with a major proportion of the world population, developing economies will witness higher demand for low-voltage power systems. Furthermore, the increasing use of LED lighting, computer peripherals, and appliances, such as VoIP devices and digital cameras, which require 0-24V DC power supply is fuelling the growth of this segment which in turn will drive the market growth during the forecast years.
For more insights on the market research and growth share of various regions Download Sample PDF now!
APAC is estimated to contribute 70% to the growth by 2027. Technavio’s analysts have elaborately explained the regional market growth and trends, drivers, and challenges that are expected to shape the market during the forecast period. The growth of the market in APAC is due to the high demand for smartphones and increased mobile data penetration. In addition, the initiatives by the Government to promote the use of renewable energy in India and China are also expected to drive the growth of the market in APAC. Moreover, China and India have become prominent markets due to government initiatives pertaining to energy-efficient lighting sources and supporting regulations for the industrial, medical, and scientific sectors. As a result, this has encouraged the adoption of LED lighting and created a demand in APAC. Hence, such factors are driving the market growth in APAC during the projection period.
Companies are implementing various strategies, such as strategic alliances, market growth and forecasting, partnerships, mergers and acquisitions, competitive landscape and strategic recommendations, geographical expansion, and product/service launches, to enhance their presence in the market.
ABB Ltd: The company offers power DC supply that are appropriate for solar farms, battery energy storage, marine applications, microgrids, commercial and residential buildings, and industrial plants.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Advanced Energy Industries Inc., AEG Power Solutions BV, C and D Technologies Inc., Delta Electronics Inc., Dyna Hitech Power Systems Ltd., Eaton Corp. Plc, Emerson Electric Co., EnerSys, Good Will Instrument Co. Ltd., Hindustan Power Control System, Huawei Technologies Co. Ltd., Infineon Technologies AG, Lite On Technology Corp., MEAN WELL Enterprises Co. Ltd., Mitsubishi Motors Corp., ON Semiconductor Corp., RECOM Power GmbH, Rohde and Schwarz GmbH and Co. KG, Schaefer Inc., TDK Corp., Vertiv Holdings Co., Vicor Corp., and XP Power
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
Market Scope |
|
Report Coverage |
Details |
Page number |
179 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.7% |
Market Growth 2024-2028 |
USD 13.12 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.22 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 70% |
Key countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., Advanced Energy Industries Inc., AEG Power Solutions BV, C and D Technologies Inc., Delta Electronics Inc., Dyna Hitech Power Systems Ltd., Eaton Corp. Plc, Emerson Electric Co., EnerSys, Good Will Instrument Co. Ltd., Hindustan Power Control System, Huawei Technologies Co. Ltd., Infineon Technologies AG, Lite On Technology Corp., MEAN WELL Enterprises Co. Ltd., Mitsubishi Motors Corp., ON Semiconductor Corp., RECOM Power GmbH, Rohde and Schwarz GmbH and Co. KG, Schaefer Inc., TDK Corp., Vertiv Holdings Co., Vicor Corp., and XP Power |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.