Europe Power Supply Unit Market Estimated to Surpass $10.8 Billion Mark by 2026
The Europe Power Supply Unit Market is estimated to surpass $10.8 billion mark by 2026 growing at an estimated CAGR of more than 3.7% during the forecast period 2021 to 2026. The Europe Power Supply Unit Market is taking a leap towards further alliance on a global scale. Growing pervasiveness throughout the countries like Germany for more sensitive electronic products which are easily damaged by power outages, spikes and other power inconsistencies due to lack of linear regulators is one of the driving factor for the growth of Power Supply Unit Market in European countries. The proliferation of sensitive electronic devices such as devices used in home computers to offices, factories and the need of Power Supply Unit to maintain the redundant Power Supply is further analyzed to provide opportunities for the Europe Power Supply Unit Market. The increased power requirements, demand for clean and reliable power and added investments in the information technology to develop microelectronic products for various applications will create the need for switched mode power supply (SMPS) systems. The increasing demand for emergency power systems such as power generators, Power Supply Unit and others will drive the market demand.
Europe Power Supply Unit Market Segment Analysis – By Topology
Online Power Supply Unit segment dominates the Europe Power Supply Unit Market however frozen segment is set to grow at the fastest rate of 6.5%. The online Power Supply Unit is the most advanced and most costly Power Supply UniT. The inverter is continuously providing clean power from the battery to the computer equipment as it never receives power directly from the AC outlet. Online or double-conversion Power Supply Unit is designed to deliver continuous protection against power problems as an emergency power generator. A standby Power Supply Unit, also known as off-line or line-preferred Power Supply Unit and are generally small in size, efficient, and easy to use and typically provide basic features of a Power Supply Uni providing surge protection, automatic voltage regulation and battery backup. The Line Interactive Power Supply Unit is similar to standby or Offline Power Supply Unit but it interacts with the AC power line to smooth out the waveforms and corrects the rise and fall of the voltage. It consists of static switch, bidirectional converter/inverter and the battery which is ideal for small factory, Web, and departmental servers
Europe Power Supply Unit Market Segment Analysis – By Application
In the past few years, Europe Power Supply Unit Market grew at rapid rate resulting from huge investments by colocation and cloud service providers. Factors such as digitization and Internet of Things have resulted in huge spending by the service providers on POWER SUPPLY UNIT systems to expand footprints by meeting the growing demand for computations. This has complemented huge growth rates in larger three phase power ratings Power Supply Uni that are often used by colocation and cloud service providers. Digitization continues with the number of internet users and internet connected devices surging across the globe and resulting in a corresponding growth in suitable power back-up systems including Power Supply Uni. According to a study, 64% of Europeans use some kind of cloud service for efficiently carrying out their business activities which been gaining immense popularity in recent years. Majority of the colocation providers are found in North America, around 43% of the world’s operational space for colocation is on this continent. But the forthcoming years will witness the adoption of same trend in Europe region as well due to rapid proliferation of advanced technological products and services, a significant factor boosting the demand for Power Supply Uni.
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Europe Power Supply Unit Market Segment Analysis – By Geography
Germany holds the largest share of 20.9% in the Power Supply Unit market in 2020, and is expected to grow at a CAGR of 3.4% during 2021-2026. The region is witnessing significant growth in the automotive industry as it hosts major automotive OEMs. Italy is also a leader in the automotive industry with the presence of top automobile OEMs which are incorporating Power Supply Unit for regulating power within automobile components. Thus, growth of the automobile industry is set to drive the Power Supply Unit market.The European region comprises of various leaders in the telecom industry, especially in Nordic region, UK and Central Europe. As Power Supply Unit is used widely in the telecommunication and automotive industries, growth in these industries will lead to significant growth in the Power Supply Unit market as well.
Europe Power Supply Unit Market Drivers
Growing penetration of industrial M2M communications
The ongoing wave of fourth industrial revolution, Industry4.0, enables machine-to-machine, machine-to-infrastructure and machine-to-human communication. With the rise in deployment of technologically advanced machines in various industries, the demand for power backup is increasing at a rapid space for uninterrupted communication between machines. The data exchanged in this communication is crucial for business operation, thus, POWER SUPPLY UNIT are being increasingly installed to serve as a backup power to the data storage and transmission system in the machines and infrastructure. New innovation in infrastructure technologies coupled with customer demand for more automated and self-controlled appliances will result for growth of M2M communications. Equipment downtime in manufacturing plants owing to poor electrical power from utility in various counties, power anomalies due to machining operation can be very costly and result in entire assembly line being shutdown for repairs, thus, the requirement of emergency power systems such as power generators and POWER SUPPLY UNIT for protecting against power interruptions is accelerating its market
Demand for fully automated grid and smart meters will further bolster the Europe Power Supply Unit Market
For socio economic development, energy is the foundation block. A significant gap has been identified between installed energy generation capacity, demand for energy and the population growth rate across various parts of globe. To cope with the pressure of growing population, many countries across world has adopted smart metering programs and full automated grids. Smart meters generates petabytes of data over current drawn, readings, power factor, damage, pilferage and other parameters. Smart meters is also integrated with the ICT architecture to send signal or readings directly to the grid. So if there is a power failure, the meter won’t be able to send any notifications to utility. Thus there is the need for backup energy supply. So growing smart grids and smart meters will further bolster the Europe Power Supply Unit Market.
Europe Power Supply Unit Market Challenges
Lack of Awareness of Power Supply Capabilities
The Europe Power Supply Unit Market is highly competitive and mature. To address this challenge, manufacturers constantly needs to upgrade their product to more technology advanced products which further meets the continuously changing demand of the end user. The major concern is to launch the new technology in the market to showcase its merits and benefits. So from the manufacturer’s perspective, the prime challenge will be to educate the market and the end user about the product. Because of the poor consumer knowledge and incorrect selection criteria, the Europe Power Supply Unit Market has seen slower growth. Consumers often goes for the cheaper product and neglecting the facts such as safety features and resistive loads. This further leads to negative feedback by the customers causing other customers to reject their purchase.
Europe Power Supply Unit Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Europe Power Supply Unit Market. Delta Electronics Inc., Artesyn Embedded Technologies, Lite-ON, Inc., Bel fuse Inc., TDK Lamda Corporation, Murata Manufacturing Co., Ltd., Cosel Co., LTD, Meanwell Enterprises Co. Ltd., FSP Group, and Salcom Plc are key players in this market.
Acquisitions/Technology Launches/Partnerships
In May 2019, TDK-Lambda acquired Nextys SA to expand its presence in the DIN rail Power Supply Unit market. Through this acquisition, TDK-Lambda will strengthen its market position in the fast-growing DIN rail Power Supply Unit business.
In February 2019, Taiwan-based Delta Electronics Inc. announced a partnership with U.S.-based Ingram Micro Inc., a leading distributor of ICT products. This will enable Delta to offer its Uninterruptible Power Supplies (UPS) and Datacenter Infrastructure Solutions to the DACH region (namely Germany, Austria and Switzerland)
Key Takeaways
The rapidly expanding cloud computing technologies or the round-the-clock reliance on network services for ensuring business continuity is fuelling the demand for Power Supply Unit.
The Europe Power Supply Unit Market is highly competitive and mature. To address this challenge, manufacturers constantly needs to upgrade their product to more technology advanced products which further meets the continuously changing demand of the end user.
Smart meters is also integrated with the ICT architecture to send signal or readings directly to the grid. So if there is a need for emergency power systems, the meter won’t be able to send any notifications to utility. Thus there is the need for power generators. So growing smart grids and smart meters will further bolster the Europe Power Supply Unit Market.
Related Reports
A. Switching Power Supply Unit Market
https://www.industryarc.com/Report/16008/switching-power-supply-market.html
B. DIN Rail Power Supply Unit Market
https://www.industryarc.com/Report/18096/din-rail-power-supply-market.html
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