Development of advanced military power supply systems is contributing to growth of rugged power supply market
Commercial off-the-shelf (COTS) software's early adoption paving way for high trajectory over the period 2018 to 2026
ALBANY, New York, Feb. 11, 2020 /PRNewswire/ -- Owing to a number of factors, the global rugged power supply market is set to chart an upward growth trajectory over the forecast period of 2018 to 2026. As per Transparency Market Research, the growth rate, compounded annually would be a steady 5.5%, taking the market on to a valuation of USD 26.1 bn. by the end of the period. It is a significant rise from valuation of USD 16.3 bn. in the year 2017.
As per Transparency Market Research, "Growing demand in healthcare and telecommunications will contribute to significant growth in the global rugged power supply market over the stated period of market assessment. Besides, it is worth noting that the power supply market is witnessing massive transformation with micro grids and renewable energy making notable inroads."
Key Findings of the Rugged Power Supply Market Study
- Military and Aerospace Industry to hold prominent place in market growth owing to increase in demand for supply that can withstand extreme conditions in terms of weather; increase in use of digital to fuel this demand
- Need to protect critical information from the instability of grid power is also generating demand for rugged power supply from military sector; reliability on renewable energy sources and smart grid systems to grow
- In 2017, AC/DC accounted for about 50% of total market share and the trend might continue over the forecast period
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Explore 248 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on rugged power supply market by Type - Programmable, Non Programmable; Component - Hardware (DC/AC Convertor, AC/DC Convertor, DC/DC Convertor, EMI Filters), Software; System Type - Discrete Power Supply System, Integrated Power Modules (Synchronous, Non Synchronous); Industry - Telecommunications, Medical and Healthcare, Military and Aerospace, Transportation, Lighting, Food and Beverage
Rugged Power Supply Market: Key Driving Factors
Numerous trends and drivers are keeping the global rugged power supply market buoyant. Prominent among them are growing demand from military, use in transportation, telecommunications, and food and beverage industries. Besides, medical and healthcare is also calling for a stable power supply.
- Better durability, and reliability to underline demand for rugged power supply from the military as it operates in harsh climate and rugged terrains – minimal maintenance and long cycle to help gain further traction
- Telecommunication towers demanding stable power supply to work seamlessly even in intense conditions such as very dirty and dusty environment; it is important to ensure minimum downtime
- Adoption of COTS – Commercial off-the-shelf – software to propel market on to an upward facing growth curve over the forecast period
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Key Impediments for Rugged Power Supply Market Players
Though on a growth trajectory, the global rugged power supply market has few restraints. These are acting as hurdles, stopping the market form reaching its full potential. However, innovation will counteract the effect quite successfully over the forecast period of 2018 to 2026. As per Transparency Market Research, some of the most significant restraints are lack of awareness in certain developing economies, leading to low penetration in these markets, and high costs.
Rugged Power Supply Market: Region-wise Analysis
- North America will dominate the regional landscape of global rugged power supply market over the forecast period owing to high contribution from the United States of America
- The country will ride on the back of high defense expenditure; it boasts of the strongest military presence and uses advanced technology in its operations
- The fastest growing region, producing lucrative growth opportunities, will be Asia Pacific (APAC) owing to rapid technological adoption and players directing efforts towards bringing innovation to the table
Analyze rugged power supply market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study,
According to Transparency Market Research, the global rugged power supply market is fragmented owing to the presence of a large number of players operating in the market landscape.
Some of the notable players that are contributing to the growth of global rugged power supply market with their pro-activeness include XP Power, Advanced Conversion Technology, Eaton Corporation, Aegis Power System, Inc., TDK-Lambda Americas, Inc., Abbott Technologies, AGMA Power Systems Ltd., Energy Technologies Inc., Synqor, Inc., AJ's Power Source Inc., Prime Power Inc., Powerbox International AB, Milpower Source, Astrodyne TDI Power Supplies & EMI Filters, Artesyn, Behlman Electronics, Inc., and Mitsubishi Electric Corporation. These are profiled in the report prepared by Transparency Market Research.
Transparency Market Research has segmented the rugged power supply market based on type, component, system type, industry, and region.
The global rugged power supply market has been segmented as follows:
Rugged Power Supply, by Type
- Non Programmable
Rugged Power Supply, by Component
Rugged Power Supply, by System Type
- Discrete Power Supply System
- Integrated Power Modules
Rugged Power Supply, by Industry
- Consumer Electronics
- Medical & Healthcare
- Military & Aerospace
- North America
- Asia Pacific
- Middle East & Africa (MEA)
- South America
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