Press release
Power Supply and Charger Market to Reach US$ 79.21 Bn by 2031, Opines TMR
Smartphone producers today are increasing efforts to develop products with varied features, including improved camera efficiency, social networking, and Internet-based applications, which need consistent supply of Internet from LTE, Wi-Fi, or 4G technology. As these technologies utilize more battery, the demand for products from the power supply and charger market is anticipated to grow in the near future.As per the analysts at Transparency Market Research (TMR), the global power supply and charger market is projected to expand at a CAGR of 4.19% during the forecast period, 2021- 2031.
Major enterprises are experiencing high demand for fast mobile chargers, owing to several advantages they offer, including decreased dependence on sockets and cables. These chargers are gathering traction, as they assist in regulating the intensity and power that a charger should supply to a phone.
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Power Supply and Charger Market: Key Findings
Increase in Demand for Smart Desktop Chargers Drives Product Sales
Players are offering innovative and highly advanced chargers that fulfill the current market needs. A case in point here is the MIVI Qualcomm Quick Charge 3.0 Certified desktop charger, which is gathering traction owing to its universal compatibility and ability to charge around five devices.
Support from Government Bodies Fuels Expansion Opportunities for Industry Enterprises
Government bodies of many developing nations such as India have initiated different schemes, including Integrated Power Development Scheme (IPDS) and Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY), which are expected to accelerate the electrification process across Indian towns and cities. As a result, the demand for power supply and chargers is expected to increase in the upcoming years.
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Power Supply and Charger Market: Growth Boosters
Rise in demand for clean energy, global population, and disposable income of consumers is likely to create sales opportunities in the global power supply and charger market during the forecast period
Companies are mainly concentrated on the development of mobile chargers with low voltage. The strategy is helping them in resolving issues such as the possibility of phone battery damage due to frequent use of fast mobile chargers.
Surging adoption of electric vehicles combined with rising investments toward the development of EV charging infrastructure across major parts of the globe is anticipated to boost the demand for power supply and chargers in the upcoming years
The Asia pacific power supply and charger market is projected to expand at a prominent pace, owing to many factors such as improvement in electrification and per capita usage, and increase in population of countries such as India
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Power Supply and Charger Market: Competition Landscape
The presence of a considerable number of players highlights that the power supply and charger market is highly competitive. In order to sustain the market competition, companies are utilizing varied strategies. For instance, several players are acquiring official certification from Qualcomm (based in San Diego, California) in order to increase their desktop charger sales.
Several organizations are focused on strengthening their production capabilities to increase the availability of smart desktop chargers that can be used for phones as well as tablets
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Power Supply and Charger Market: Key Players
Some of the key players in the power supply and charger market are:
Accutronics Ltd.
Delta Electronics Inc.
FRIWO Gerätebau GmbH
COSEL ASIA LTD
Infineon Technologies AG
General Electric
MEAN Well enterprises Co. Ltd.
Lzen Electronics
Omnicharge Inc.
Murata Power Solutions
Power Innovation
Phoenix Contact
TDK-Lambda Corporation
Power System & Controls Inc.
Global Power Supply and Charger Market: Segmentation
Power Supply and Charger Market, by Product
Power Supply
Plug-in Power Supply
Desktop Power Supply
Open Frame Power Supply
Flush Mounted Power Supply
USB Power Supply
Others(Customized Power Supply)
Chargers
Interchangeable Plug
Desktop Charger
Inductive Charging
Battery Mobile Charger
Lithium Ion Battery
Nickel-Cadmium Battery
Lead-Acid Battery
Nickel-Metal Hybrid Battery
Others (Solar Charger, Customized Charger)
Power Supply and Charger Market, by Output Power/Voltage
· Power Supply
Low Output (500 W and Below)
Medium Output (500 W to 1500 W)
High Output (More than 500 W)
Chargers
Below 6V
6-12V
12-24V
24-60V
Above 60V
Power Supply and Charger Market, by Type
AC-DC Power Supplies
DC-DC Converters
Power Supply and Charger Market, by End-use Industry
Industrial
E-mobility
Medical
Tools & Garden Devices
Consumer Electronics
Aerospace & Defense
Telecommunication
Others (Power & Energy)
Power Supply and Charger Market, by Region
North America
Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)
South America
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About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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