Rugged Power Supply Market
According to the latest report by Market Research Future (MRFR), the global rugged power supply market is expected to grow from USD 13.16 billion in 2018 to approximately USD 17.66 billion by 2023, at a steady CAGR of 6.1% during the forecast period of 2018–2013.
Strong need for power supply in unpredictable climatic conditions, standardization of power supply goods, and higher investments in defense sectors to safeguard national security are the main driving factors for the growth of rugged power supply units globally. ON the other hand, the budget constraints and lack of awareness in the majority of the developing economies across the globe, act as the main restricting factors for the development of the rugged power supply market over the review period.
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Key players
The prominent market players in rugged power supply market are Aegis Power Systems (US), North Atlantic Industries (US), Schaefer (US), Crystal Group, Martek Power (US), ABSOPULSE Electronics (Canada), TDK-Lambda (Japan), Extreme Engineering Solutions (US), Evercom (Belgium), XP Power (US), and Bluestone Technology (UK).
Segmental Analysis
The global market for rugged power supply is segmented into system type, component, industry vertical, and regions/country.
By component, the rugged power supply market is segmented into software and hardware. The hardware covered in the report includes DC/DC Converter, AC/DC Converter, DC/AC Converter, and EMI Filters.
Based on the system type, the market is segmented into integrated power modules and discrete power supply system. Integrated power modules are bifurcated into non-synchronous and synchronous power modules.
On the basis of the industry vertical, the market is segmented into aerospace, defense, telecommunications, transportation, manufacturing, healthcare, and others. The defense sector, including navy, army, and air force, have the most noteworthy adoption of rugged power supply units that empower them to function in extreme environmental conditions in land, air, and sea. Telecom industry vertical is anticipated to grow with the highest CAGR during the forecast period due to the growing development of the industry to offer improved and dependable telecom services in all type of regions, both rural and urban.
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Regional Analysis
The regional analysis of global rugged power supply market is studied for North America, Europe, Asia-Pacific, and rest of the world.
North America is likely to dominate the rugged power supply market during the forecast period. North America region is considered as the most developed region in terms of expansion and adoption of ground-breaking technologies in the field of electrical components and electronics. The region has a vast potential for revenue generation in the rugged power supply market, mostly from the defense and manufacturing industry verticals. The US is likely to be the dominating country in the rugged power supply market and the major contributor towards the market share acquired in the North America region during the forecast period.
The European market for rugged power supply is considered as the second largest across the globe and is expected to record a remarkable valuation over the review period. European government is making substantial efforts towards the improvement of their defense sector, primarily due to the political unrest and terrorist threats in certain parts of the region. This is driving the need for enhanced defense apparatus.
Asia-Pacific is anticipated to grow at the fastest growth rate during the forecast period. A growing requirement for rugged power supply in the defense and telecommunication sector is expected to fuel the growth of the market in the APAC region. China, and India, Japan, are expected to account for the leading countries in the APAC region in terms of high market share, and this trend is likely to continue in the upcoming years of the forecast period.
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