The AC power source market is expected to expand at a CAGR of 4.30% through 2034. The market value is projected to increase from US$ 1.2 billion in 2024 to US$ 1.8 billion by 2034. The AC power source industry was valued at US$ 1.1 billion in 2023.
The demand for AC power sources is projected to rise consistently due to significant technological breakthroughs. As energy consumption is becoming a serious global matter due to non-stop residential, commercial, and industrial activities, the demand for energy-efficient devices is increasing with the rising use of renewable energy sources. Both of these factors are anticipated to fuel the market’s growth.
After realizing their potential in developed markets, players within the AC power source market are likely to find lucrative opportunities within emerging economies as these countries increase their use of electric vehicles and develop smart grids. Intensifying focus on smart city infrastructure in these countries is projected to increase the consumption of AC power sources.
Attributes | Details |
---|---|
Market Size, 2023 | US$ 1.1 billion |
Market Size, 2024 | US$ 1.2 billion |
AC Power Source Market Size, 2034 | US$ 1.8 billion |
Value-based CAGR (2024 to 2034) | 4.30% |
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Attributes | Details |
---|---|
AC Power Source Market Value (2019) | US$ 0.87 billion |
Market Value (2023) | US$ 1.1 billion |
Historical CAGR (2019 to 2023) | 6.00% |
The AC power source market registered a CAGR of 6.00% from 2019 to 2023. The market reached US$ 1.1 billion in 2023, from US$ 0.87 billion in 2019. The increasing global population and rapid urbanization indirectly contributed to the market during the historical period.
A noticeable shift toward renewable energy sources like wind and solar power is stimulating market growth. Other factors that are fueling the market are as follows:
In upcoming years, investments in renewable energy sources are projected to increase, thus creating demand for reliable and efficient AC power sources for energy storage and conversion. Regionally, Asia Pacific is predicted to witness an influx of top players who wish to capitalize on the significant economic growth of the region.
The market is expected to increase from US$ 1.2 billion in 2024 to US$ 1.8 billion by 2034. The market is expected to expand at a consistent CAGR of 4.30% over the forecast period.
Country | CAGR (2024 to 2034) |
---|---|
United States | 4.50% |
United Kingdom | 5.60% |
China | 4.70% |
Japan | 5.10% |
South Korea | 6.10% |
The consumption of AC power sources in the United States in different application sectors is increasing at a pace of 4.50% through 2034. The factors responsible for this growth are as follows:
The use of AC power sources is projected to increase in the United Kingdom at a CAGR of 5.60% through 2034. The factors driving the market growth are as follows:
The demand for AC power sources is increasing in China, with a projected CAGR of 4.70% through 2034. Emerging patterns in the China market are as follows:
The Japan AC power source market is assessed to register a CAGR of 5.10% through 2034. The deployment of AC power sources is increasing on account of the following:
Key players are significantly investing in South Korea, as the country is offering greater growth opportunities than its counterparts. Through 2034, South Korea is projected to expand at a CAGR of 6.10%, driven by the following factors:
Leading Phase Type | Single Phase |
---|---|
CAGR (2024 to 2034) | 4.1% |
The single phase segment is a substantially preferred phase type. The following factors back the adoption of single phase AC power sources:
Leading Modulation Type | Linear AC Power Sources |
---|---|
CAGR (2024 to 2034) | 3.9% |
The linear AC power sources segment is anticipated to find significant adoption based on the modulation type. Top factors that are spurring the segment growth are:
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Key players are adding advanced features to their AC power sources to increase their appeal among end users. Additionally, industry leaders are concentrating on certain niche applications like aerospace testing, renewable energy integration, or electric vehicle charging to serve unique market needs effectively.
Market contenders also provide customizable power source solutions as they take a customer-centric approach and develop stronger relationships.
Leading vendors are collaborating with complementary companies from the power industry to increase their reach and gain access to new customer segments. Market players are expanding geographically via partnerships, acquisitions, or by establishing local production to increase brand visibility and customer base.
Key players are further focusing on targeted marketing campaigns to raise awareness about the brands’ unique selling propositions.
Recent Developments
The AC power source market is projected to be worth US$ 1.2 billion in 2024.
The market is predicted to expand at a CAGR of 4.3% through 2034.
The market is anticipated to account for US$ 1.8 billion by 2034.
South Korea is predicted to provide significant growth opportunities.
The single phase segment holds a significant share of the market.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2019 to 2023
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2024 to 2034
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Phase Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Phase Type, 2019 to 2023
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Phase Type, 2024 to 2034
5.3.1. Single Phase
5.3.2. Three Phase
5.4. Y-o-Y Growth Trend Analysis By Phase Type, 2019 to 2023
5.5. Absolute $ Opportunity Analysis By Phase Type, 2024 to 2034
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Modulation Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Modulation Type, 2019 to 2023
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Modulation Type, 2024 to 2034
6.3.1. Linear AC Power Sources
6.3.2. PWM AC Power Sources
6.4. Y-o-Y Growth Trend Analysis By Modulation Type, 2019 to 2023
6.5. Absolute $ Opportunity Analysis By Modulation Type, 2024 to 2034
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2019 to 2023
7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2024 to 2034
7.3.1. Aerospace and Defense
7.3.2. Automotive
7.3.3. Consumer Electronics
7.3.4. Medical Devices
7.3.5. Telecommunications
7.3.6. Others
7.4. Y-o-Y Growth Trend Analysis By Application, 2019 to 2023
7.5. Absolute $ Opportunity Analysis By Application, 2024 to 2034
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2019 to 2023
8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2024 to 2034
8.3.1. North America
8.3.2. Latin America
8.3.3. Western Europe
8.3.4. Eastern Europe
8.3.5. South Asia and Pacific
8.3.6. East Asia
8.3.7. Middle East and Africa
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
9.2.1. By Country
9.2.1.1. USA
9.2.1.2. Canada
9.2.2. By Phase Type
9.2.3. By Modulation Type
9.2.4. By Application
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Phase Type
9.3.3. By Modulation Type
9.3.4. By Application
9.4. Key Takeaways
10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By Phase Type
10.2.3. By Modulation Type
10.2.4. By Application
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Phase Type
10.3.3. By Modulation Type
10.3.4. By Application
10.4. Key Takeaways
11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. UK
11.2.1.3. France
11.2.1.4. Spain
11.2.1.5. Italy
11.2.1.6. Rest of Western Europe
11.2.2. By Phase Type
11.2.3. By Modulation Type
11.2.4. By Application
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Phase Type
11.3.3. By Modulation Type
11.3.4. By Application
11.4. Key Takeaways
12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
12.2.1. By Country
12.2.1.1. Poland
12.2.1.2. Russia
12.2.1.3. Czech Republic
12.2.1.4. Romania
12.2.1.5. Rest of Eastern Europe
12.2.2. By Phase Type
12.2.3. By Modulation Type
12.2.4. By Application
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Phase Type
12.3.3. By Modulation Type
12.3.4. By Application
12.4. Key Takeaways
13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
13.2.1. By Country
13.2.1.1. India
13.2.1.2. Bangladesh
13.2.1.3. Australia
13.2.1.4. New Zealand
13.2.1.5. Rest of South Asia and Pacific
13.2.2. By Phase Type
13.2.3. By Modulation Type
13.2.4. By Application
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Phase Type
13.3.3. By Modulation Type
13.3.4. By Application
13.4. Key Takeaways
14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
14.2.1. By Country
14.2.1.1. China
14.2.1.2. Japan
14.2.1.3. South Korea
14.2.2. By Phase Type
14.2.3. By Modulation Type
14.2.4. By Application
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Phase Type
14.3.3. By Modulation Type
14.3.4. By Application
14.4. Key Takeaways
15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
15.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023
15.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034
15.2.1. By Country
15.2.1.1. GCC Countries
15.2.1.2. South Africa
15.2.1.3. Israel
15.2.1.4. Rest of MEA
15.2.2. By Phase Type
15.2.3. By Modulation Type
15.2.4. By Application
15.3. Market Attractiveness Analysis
15.3.1. By Country
15.3.2. By Phase Type
15.3.3. By Modulation Type
15.3.4. By Application
15.4. Key Takeaways
16. Key Countries Market Analysis
16.1. USA
16.1.1. Pricing Analysis
16.1.2. Market Share Analysis, 2023
16.1.2.1. By Phase Type
16.1.2.2. By Modulation Type
16.1.2.3. By Application
16.2. Canada
16.2.1. Pricing Analysis
16.2.2. Market Share Analysis, 2023
16.2.2.1. By Phase Type
16.2.2.2. By Modulation Type
16.2.2.3. By Application
16.3. Brazil
16.3.1. Pricing Analysis
16.3.2. Market Share Analysis, 2023
16.3.2.1. By Phase Type
16.3.2.2. By Modulation Type
16.3.2.3. By Application
16.4. Mexico
16.4.1. Pricing Analysis
16.4.2. Market Share Analysis, 2023
16.4.2.1. By Phase Type
16.4.2.2. By Modulation Type
16.4.2.3. By Application
16.5. Germany
16.5.1. Pricing Analysis
16.5.2. Market Share Analysis, 2023
16.5.2.1. By Phase Type
16.5.2.2. By Modulation Type
16.5.2.3. By Application
16.6. UK
16.6.1. Pricing Analysis
16.6.2. Market Share Analysis, 2023
16.6.2.1. By Phase Type
16.6.2.2. By Modulation Type
16.6.2.3. By Application
16.7. France
16.7.1. Pricing Analysis
16.7.2. Market Share Analysis, 2023
16.7.2.1. By Phase Type
16.7.2.2. By Modulation Type
16.7.2.3. By Application
16.8. Spain
16.8.1. Pricing Analysis
16.8.2. Market Share Analysis, 2023
16.8.2.1. By Phase Type
16.8.2.2. By Modulation Type
16.8.2.3. By Application
16.9. Italy
16.9.1. Pricing Analysis
16.9.2. Market Share Analysis, 2023
16.9.2.1. By Phase Type
16.9.2.2. By Modulation Type
16.9.2.3. By Application
16.10. Poland
16.10.1. Pricing Analysis
16.10.2. Market Share Analysis, 2023
16.10.2.1. By Phase Type
16.10.2.2. By Modulation Type
16.10.2.3. By Application
16.11. Russia
16.11.1. Pricing Analysis
16.11.2. Market Share Analysis, 2023
16.11.2.1. By Phase Type
16.11.2.2. By Modulation Type
16.11.2.3. By Application
16.12. Czech Republic
16.12.1. Pricing Analysis
16.12.2. Market Share Analysis, 2023
16.12.2.1. By Phase Type
16.12.2.2. By Modulation Type
16.12.2.3. By Application
16.13. Romania
16.13.1. Pricing Analysis
16.13.2. Market Share Analysis, 2023
16.13.2.1. By Phase Type
16.13.2.2. By Modulation Type
16.13.2.3. By Application
16.14. India
16.14.1. Pricing Analysis
16.14.2. Market Share Analysis, 2023
16.14.2.1. By Phase Type
16.14.2.2. By Modulation Type
16.14.2.3. By Application
16.15. Bangladesh
16.15.1. Pricing Analysis
16.15.2. Market Share Analysis, 2023
16.15.2.1. By Phase Type
16.15.2.2. By Modulation Type
16.15.2.3. By Application
16.16. Australia
16.16.1. Pricing Analysis
16.16.2. Market Share Analysis, 2023
16.16.2.1. By Phase Type
16.16.2.2. By Modulation Type
16.16.2.3. By Application
16.17. New Zealand
16.17.1. Pricing Analysis
16.17.2. Market Share Analysis, 2023
16.17.2.1. By Phase Type
16.17.2.2. By Modulation Type
16.17.2.3. By Application
16.18. China
16.18.1. Pricing Analysis
16.18.2. Market Share Analysis, 2023
16.18.2.1. By Phase Type
16.18.2.2. By Modulation Type
16.18.2.3. By Application
16.19. Japan
16.19.1. Pricing Analysis
16.19.2. Market Share Analysis, 2023
16.19.2.1. By Phase Type
16.19.2.2. By Modulation Type
16.19.2.3. By Application
16.20. South Korea
16.20.1. Pricing Analysis
16.20.2. Market Share Analysis, 2023
16.20.2.1. By Phase Type
16.20.2.2. By Modulation Type
16.20.2.3. By Application
16.21. GCC Countries
16.21.1. Pricing Analysis
16.21.2. Market Share Analysis, 2023
16.21.2.1. By Phase Type
16.21.2.2. By Modulation Type
16.21.2.3. By Application
16.22. South Africa
16.22.1. Pricing Analysis
16.22.2. Market Share Analysis, 2023
16.22.2.1. By Phase Type
16.22.2.2. By Modulation Type
16.22.2.3. By Application
16.23. Israel
16.23.1. Pricing Analysis
16.23.2. Market Share Analysis, 2023
16.23.2.1. By Phase Type
16.23.2.2. By Modulation Type
16.23.2.3. By Application
17. Market Structure Analysis
17.1. Competition Dashboard
17.2. Competition Benchmarking
17.3. Market Share Analysis of Top Players
17.3.1. By Regional
17.3.2. By Phase Type
17.3.3. By Modulation Type
17.3.4. By Application
18. Competition Analysis
18.1. Competition Deep Dive
18.1.1. Keysight Technologies Inc.
18.1.1.1. Overview
18.1.1.2. Product Portfolio
18.1.1.3. Profitability by Market Segments
18.1.1.4. Sales Footprint
18.1.1.5. Strategy Overview
18.1.1.5.1. Marketing Strategy
18.1.1.5.2. Product Strategy
18.1.1.5.3. Channel Strategy
18.1.2. Chroma ATE Inc.
18.1.2.1. Overview
18.1.2.2. Product Portfolio
18.1.2.3. Profitability by Market Segments
18.1.2.4. Sales Footprint
18.1.2.5. Strategy Overview
18.1.2.5.1. Marketing Strategy
18.1.2.5.2. Product Strategy
18.1.2.5.3. Channel Strategy
18.1.3. AMETEK Programmable Power Inc.
18.1.3.1. Overview
18.1.3.2. Product Portfolio
18.1.3.3. Profitability by Market Segments
18.1.3.4. Sales Footprint
18.1.3.5. Strategy Overview
18.1.3.5.1. Marketing Strategy
18.1.3.5.2. Product Strategy
18.1.3.5.3. Channel Strategy
18.1.4. B&K Precision Corporation
18.1.4.1. Overview
18.1.4.2. Product Portfolio
18.1.4.3. Profitability by Market Segments
18.1.4.4. Sales Footprint
18.1.4.5. Strategy Overview
18.1.4.5.1. Marketing Strategy
18.1.4.5.2. Product Strategy
18.1.4.5.3. Channel Strategy
18.1.5. National Instruments Corporation
18.1.5.1. Overview
18.1.5.2. Product Portfolio
18.1.5.3. Profitability by Market Segments
18.1.5.4. Sales Footprint
18.1.5.5. Strategy Overview
18.1.5.5.1. Marketing Strategy
18.1.5.5.2. Product Strategy
18.1.5.5.3. Channel Strategy
18.1.6. Tektronix Inc.
18.1.6.1. Overview
18.1.6.2. Product Portfolio
18.1.6.3. Profitability by Market Segments
18.1.6.4. Sales Footprint
18.1.6.5. Strategy Overview
18.1.6.5.1. Marketing Strategy
18.1.6.5.2. Product Strategy
18.1.6.5.3. Channel Strategy
18.1.7. California Instruments Corporation
18.1.7.1. Overview
18.1.7.2. Product Portfolio
18.1.7.3. Profitability by Market Segments
18.1.7.4. Sales Footprint
18.1.7.5. Strategy Overview
18.1.7.5.1. Marketing Strategy
18.1.7.5.2. Product Strategy
18.1.7.5.3. Channel Strategy
18.1.8. Kikusui Electronics Corporation
18.1.8.1. Overview
18.1.8.2. Product Portfolio
18.1.8.3. Profitability by Market Segments
18.1.8.4. Sales Footprint
18.1.8.5. Strategy Overview
18.1.8.5.1. Marketing Strategy
18.1.8.5.2. Product Strategy
18.1.8.5.3. Channel Strategy
18.1.9. Matsusada Precision Inc.
18.1.9.1. Overview
18.1.9.2. Product Portfolio
18.1.9.3. Profitability by Market Segments
18.1.9.4. Sales Footprint
18.1.9.5. Strategy Overview
18.1.9.5.1. Marketing Strategy
18.1.9.5.2. Product Strategy
18.1.9.5.3. Channel Strategy
18.1.10. NF Corporation
18.1.10.1. Overview
18.1.10.2. Product Portfolio
18.1.10.3. Profitability by Market Segments
18.1.10.4. Sales Footprint
18.1.10.5. Strategy Overview
18.1.10.5.1. Marketing Strategy
18.1.10.5.2. Product Strategy
18.1.10.5.3. Channel Strategy
18.1.11. Preen (AC Power Corp.)
18.1.11.1. Overview
18.1.11.2. Product Portfolio
18.1.11.3. Profitability by Market Segments
18.1.11.4. Sales Footprint
18.1.11.5. Strategy Overview
18.1.11.5.1. Marketing Strategy
18.1.11.5.2. Product Strategy
18.1.11.5.3. Channel Strategy
19. Assumptions & Acronyms Used
20. Research Methodology
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