The DC power supply module market size is predicted to expand at a robust 4.6% CAGR during the forecast period. The DC power supply module market global analysis indicates that the revenue stands at USD 487.6 million in 2024 and is projected to surpass USD 764.6 million by 2034.
A primary driving force for the DC power supply module industry is the exponential growth in demand for consumer electronics. Consumer at the end-user level always demands improvements in the performance and functionality of gadgets such as smartphones, tablets, laptops, and so on. This, in turn, drives the semiconductor industry toward the development of more sophisticated and integrated circuit chip sets.
Such an increase in the complexity of devices calls for smarter power supply techniques that would enhance the use of energy, performance, and durability of the components. Therefore, OEMs (Original Equipment Manufacturers) and ODMs (Original Design Manufacturers) are heavily investing in high-reliability DC power supply modules to satisfy high operational demands and end-user expectations.
| Attributes | Description |
|---|---|
| Estimated Global DC Power Supply Module Market Size (2024E) | USD 487.6 million |
| Projected Global DC Power Supply Module Market Size (2034F) | USD 764.6 million |
| Value-based CAGR (2024 to 2034) | 4.6% |
Ongoing miniaturization of electronics is helping in the advancement of DC power supply modules in the electronics sector. This trend has become more important given that many consumer electronics, medicals, and portable equipment are now becoming smaller and integrated with built-in power supply systems.
OEMs are integrating new process technologies in semiconductors and new materials to create dense power modules that blend into tighter geometries without compromising efficiency. This drive for miniaturization guarantees that devices stay compact, mobile, and ergonomic. Thereby, fulfilling consumer expectations of thin and effective technologies and helping the industry expand through more demand.
International efforts to promote the utilization of renewable energy like solar and wind power have shifted the dynamics of the energy sector. High-efficiency DC power supply modules are important for converting and controlling the energy from renewable resources. New developments in power electronics have brought changes in the DC-DC converters that improve the efficiency and overall performance of renewable energy systems.
This shift has therefore not only stimulated by environmental concerns but also energy and economic factors such as the reduction of fossil fuel dependency and enhancement of energy security. Thus, with the expansion of the renewable energy industry, the need for sophisticated DC power supply modules will remain high.
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This table presents a numerical comparison of the DC power supply module market growth and trends. For a thorough analysis of the industry’s anticipated growth, the CAGR has been analyzed in semi-annual intervals. This includes a comparison of the historical analysis period of 2023 to 2033 and the forecast period of 2024 to 2034.
| Particular | Value CAGR |
|---|---|
| H1 | 3.1% (2023 to 2033) |
| H2 | 5% (2023 to 2033) |
| H1 | 3.5% (2024 to 2034) |
| H2 | 5.4% (2024 to 2034) |
Industry’s expansion surged at a CAGR of 3.1% in the first half (H1) of the 2023 and 2033 period and then increased to 5% in the second half (H2) of the same period. Throughout the projection period, which runs from H1 2024 to H2 2034, the CAGR is forecasted to initially decline to 3.5% before finally increasing to 5.4% in the second half.
Rise of EVs and Autonomous Vehicles Surges Demand in the Industry
The two prominent trends affecting the automotive industry shortly include the shift towards electric vehicles (EVs) and the advent of self-driving cars. They contribute to the globally growing demand for DC power supply modules. EVs need effective power-controlling systems to regulate the battery charging and discharging. On the other hand, autonomous vehicles require steady power sources for components such as sensors, computers, and communication gadgets.
As EV usage continues to rise due to environmental effects and legislation, as well as the development of self-driving cars, the need for powerful DC power supply modules is increasing. These modules help to control and monitor the performance of diverse vehicle systems to enhance vehicle functioning and safety, which in turn, boosts their demand.
Advancements in Power Electronics Drive the Industry’s Evolution
Ongoing strides in power electronics technology are enabling the growth of the DC power supply module market. New technologies like gallium nitride, and silicon carbide power modules, help create new and higher performance power modules.
These technologies have unique benefits such as high efficiency, high power density, and better thermal characteristics, which makes them versatile for numerous applications. The use of these new-age materials and technologies is responsible for the constant evolution of power supply modules for increased functionality and miniaturization with lower costs involved.
In March 2024, Mitsubishi Electric launched six new SiC and Si power modules for various EVs. The J3-Series modules use either a silicon carbide metal-oxide semiconductor field-effect transistor (SiC-MOSFET) or a silicon RC-IGBT. They are designed to be small and scalable for usage in EV and PHEV inverters.
Increased Focus on Data Centers and Cloud Computing Lead to Innovations in the Industry
The exponential increase in data generation which has led to the rise in data centers as well as the increasing uptake of cloud computing services play a central role in the demand surge for DC power supply modules. As the fundamental infrastructure for cloud services, data centers need reliable, cost- and energy-effective, and scalable power infrastructures that can operate continuously without interruption or constraint.
With businesses and consumers turning to cloud storage, data processing, and AI services, the infrastructure supporting these services must be fitted with DC power modules that are highly efficient to meet the extensive power requirements and keep costs optimal and energy consumption low. This is leading to more innovations in the industry.
Like, in May 2024, Infineon Technologies AG launched new Power Supply Units (PSU) to strengthen its leading position in AI power supply based on Si, SiC and GaN. AI data center operators benefit from the world's first 12 kW power supply unit, which has improved energy economy, power density, and dependability.
Principal Consultant
The growth of the DC power supply module industry was recorded at 2.5% between 2019 and 2023. The industry generated revenue amounting to USD 425.6 million in 2019 and surpassed USD 469.4 million by 2023. The growth of Industry 4.0 concepts and the integration of IoT devices in industrial settings have boosted the need for DC power supply modules.
Energy must be constant and smooth to provide steady power to automated systems, smart sensors and IoT devices entrusted to gather data at all times. The shift towards smart manufacturing and predictive maintenance has further driven the demand for sophisticated power solutions.
The continued focus on sustainability and energy conservation has led to the usage of better and more efficient energy sources. Larger businesses and institutions are incorporating green strategies into strategic plans and, therefore, are embracing green technologies more earnestly. New rules regarding energy conservation and lesser carbon footprints have also driven the need for superior DC power supply modules.
The future of the industry seems bright, expanding at a predicted CAGR of 4.6% till 2034. Research and development investments are expected to fuel advancements in the DC power supply module industry in the future. Manufacturers will invest more in the research and development of new materials, structures, and technologies to improve the performance, efficiency and reliability of power modules. Synergies among industry participants, researchers, and authorities will propel technology development and market expansion.
Tier 1 companies include the top leaders in DC power supply module market, capturing around 55% to 60% of global industry shares. Texas Instruments, Infineon Technologies, Vicor Corporation, TDK-Lambda, Delta Electronics, Murata Manufacturing, and XP Power come under this tier. These companies focus on acquiring smaller firms to expand technological capabilities and reach. They also invest heavily in research and development to innovate and stay ahead of technological trends.
Tier 2 companies include the mid-level participants, capturing around 25% to 30% of the global industry shares. Artesyn Embedded Technologies, Mean Well Enterprises, Cosel Co., Ltd., Bel Power Solutions, RECOM Power, Advanced Energy Industries, and CUI Inc. fall under this category. The businesses focus on specialized applications or industries where they can offer tailored solutions.
The Tier 3 companies include the emerging and the lower tier companies, acquiring around 10% to 15% of the global industry shares. SynQor, FSP Group, Polytron Devices, MicroPower Direct, Astrodyne TDI, Powerbox International AB, and Wall Industries come under this tier. These businesses provide highly customizable solutions to meet specific customer requirements.
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This section gives insights into the DC power supply module market global forecast in top countries and the regional growth patterns. Information on regions like North America, Europe, Asia Pacific, and others has been granulated, focusing on the top countries. Canada is expected to be at the forefront, expanding at a 4.8% CAGR until 2034. France follows next, expanding at a 4.2% CAGR until 2034. Lastly, Italy is also on the list, expanding at a 4.1% CAGR until 2034. This data indicates that Europe is likely to make significant progress in the coming years.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| Canada | 4.8% |
| France | 4.2% |
| Italy | 4.1% |
The DC power supply module market growth in Canada is estimated at a 4.8% CAGR till 2034. Canada is increasingly witnessing the adoption of energy efficiency and sustainability programs across various sectors. DC power supplies are preferred over typical AC models, as they have higher efficiency coefficients and can be connected to renewable power sources effectively.
This is in line with Canada’s effort to cut down on carbon emissions and achieve environmental milestones, thereby fostering the need for DC power solutions. Examples of such initiatives include the United Nations Framework Convention on Climate Change its Paris Agreement on climate change and the Canadian Net-Zero Emissions Accountability Act.
The DC power supply module market growth in France is predicted at a 4.2% CAGR by 2034. France plays a huge role in nuclear energy production and is moving towards the modernization of its nuclear power plants. It is an essential transition, along with upgrading grid infrastructure. France gets around 70% of its electricity from nuclear sources, which is a result of the long-standing policy that prioritizes energy security above everything else.
An important aspect to be considered here would be that DC power supply modules play a pivotal role as they not only enhance the efficiency and reliability of nuclear power operations but also help in supporting the integration of advanced safety as well control systems. Thus, making sure these sectors get what they need without compromise. In essence, industry expansion is ensured by operational continuity and safety in the nuclear sector.
It was in 2022 that the head of state revealed plans for the country to revive its nuclear program. The program entailed constructing six Gen II EPR reactors (EPR2) with the possibility of even eight more. The commencement date for these projects has been set for 2035 when the first reactor is expected to be commissioned.
The DC power supply module market growth in Italy is projected at a 4.1% CAGR by 2034. Italy is modernizing its electricity grid infrastructure to provide a more intelligent system and ensure grid resilience. This is necessary to accommodate distributed energy resources. A smart grid is designed to closely monitor demands and to work in coordination with the used electricity from residential homes and commercial utilities.
This is where DC power supply modules are commonly used in applications such as grid monitoring, demand response, or energy storage management. Industry expansion in Italy is mainly driven by grid resilience, energy distribution optimization, and the move toward a decentralized system.
This section takes a closer look at the DC power module market segmentation by type and application. Based on type, the isolated DC-DC converter segment is leading with 63.2% of the global industry shares captured in 2024. Based on application, the household appliances segment is leading with 22.2% of the global industry shares captured in 2024.
| Segment | DC-DC Converter (Type) |
|---|---|
| Value Share (2024) | 63.2% |
Safety plus performance regulations are highly important in many industries. Like, the International Electrotechnical Commission (IEC) standards for medical equipment or the Federal Communications Commission (FCC) for communication devices. The requirements of these regulations can be met by the isolated DC-DC converters which help achieve the needed isolation and deliver operation dependability even under dynamic conditions. Thus, making them essential and inevitable in environments regulated by such bodies, and boosting their demand in the industry.
| Segment | Household Appliances (Application) |
|---|---|
| Value Share (2024) | 22.2% |
A wave of awareness sweeps over consumers, urging them to find products that have a low energy consumption. They want products that do not contribute to the destruction of the environment. In this quest, DC power supply modules play their role by lifting the efficiency of appliances that would otherwise draw power wastefully from fossil fuels. They exacerbate greenhouse gas emissions and impede renewable energy applications at home.
An escalating sense of responsibility for the environment is thus causing a boost in numbers for energy-conscious home electronic buyers. The rise of smart home technology has led to a growing demand for smart household appliances that in reverse is helping the industry.
The DC power supply module market features high competitiveness. A few leading suppliers including Texas Instruments, Infineon Technologies, and Vicor Corporation occupy the industry that mainly relies on their wide product portfolio and advanced research and development focusing on most required parameters for more efficient and productive power conversion products.
Mean Well Enterprises, and Cosel Co. among others are well-established mid-tier companies that compete by providing specially focused high-quality products and focusing on customer service. New entrants such as SynQor and FSP Group are more lean and agile, keeping pace with rapidly changing requirements and price aggression.
Recent Developments
The industry bifurcates into isolated DC-DC converters and non-isolated DC-DC converters.
The industry fragments into HVAC equipment, aerospace & transportation, household appliances, industrial machinery, motor vehicles, and others.
Analysis of the industry has been conducted in the countries of North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa (MEA).
Industry is set to reach USD 487.6 million by 2024.
The industry is expected to reach USD 764.6 million by 2034.
Industry is set to report a CAGR of 4.6% from 2024 to 2034.
Non-isolated DC-DC converter type leads the industry, with 63.2% of industry shares captured in 2024.
The demand in Canada is expected to advance at a CAGR of 4.8% through 2034.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034 6.1. Application 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 7.1. HVAC Equipment 7.2. Aerospace & Transportation 7.3. Household Appliances 7.4. Industrial Machinery 7.5. Motor Vehicles 7.6. Other Applications 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. South Asia and Pacific 8.5. East Asia 8.6. Middle East and Africa 9. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 10. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 11. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 12. South Asia and Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 13. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 14. Middle East and Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 15. Sales Forecast 2024 to 2034 by Application for 30 Countries 16. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 17. Company Profile 17.1. Franklin Electric Co. 17.2. Asmo Co. Ltd. 17.3. Ametek Inc. 17.4. Sony Corporation 17.5. Bayer AG 17.6. Whirlpool Corporation 17.7. Toyota 17.8. Accurate Electric Motor & Pump Co. 17.9. American Crane & Equipment Corp. 17.10. Bruce Electric Equipment Corp 17.11. Tesla Motors 17.12. Hansen Motors 17.13. ATS Automation Tooling Systems, Inc.
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DC Power Supply Module Market
