Industrial Power Supply Market

Market Definition

The market encompasses the design, manufacturing, and distribution of power conversion and management solutions used across various sectors. Its applications include automation systems, manufacturing equipment, renewable energy, data centers, and transportation. 

The market scope covers a wide range of products such as AC/DC power supplies, power modules, and specialized power devices that support efficient and reliable industrial operations. The report highlights key market drivers, major trends, regulatory frameworks, and the competitive landscape shaping industry growth.

Industrial Power Supply Market Overview

The global industrial power supply market size was valued at USD 11.26 billion in 2024 and is projected to grow from USD 11.96 billion in 2025 to USD 19.19 billion by 2032, exhibiting a CAGR of 6.99% during the forecast period.

The growing reliance on automated systems and critical infrastructure drives the need for dependable power supplies that ensure uninterrupted operations. This demand is boosting the development of robust, safe, and compliant power solutions tailored for industrial environments.

Additionally, efficiency and space constraints are prompting the adoption of high-performance, compact power supplies among SMEs. These solutions reduce energy consumption, lower operational costs, and enable integration into space-limited applications across various industries.

Major companies operating in the industrial power supply industry are Delta Elektronika, Hitachi Energy Ltd, Sinpro Electronics Co., Ltd., Littelfuse, Inc., Infineon Technologies AG, Power Integrations, RECOM Power GmbH, Delta Electronics, Inc., Weidmuller Electronics India Pvt. Ltd., Mitsubishi Electric Europe B.V., Eaton, Phoenix Contact, COSEL ASIA LTD., MISUMI Corporation, Siemens AG.

The demand for compact and modular power supply designs is increasingly driving the market, as manufacturers and end-users prioritize space efficiency and ease of system integration. These design approaches simplify maintenance and scalability, reducing overall system complexity and development time. 

Additionally, suppliers focusing on compact and modular solutions are better positioned to meet evolving customer requirements and capture growing market opportunities, especially in industries where space constraints and rapid deployment are critical factors for operational success.

• In March 2025, onsemi launched the EliteSiC SPM 31 series of silicon carbide (SiC) metal oxide semiconductor field-effect transistor (MOSFET) based intelligent power modules (IPMs), designed for inverter motor drives. These modules feature improved thermal performance, reduced power losses, and support fast switching speeds, targeting applications such as electronically commutated (EC) fans in AI data centers, heat pumps, commercial HVAC systems, servo motors, robotics, variable frequency drives (VFDs), and industrial pumps and fans. The modules offer a smaller footprint and simplified design to help reduce development time and total system cost.

Key Highlights:

1. The industrial power supply market size was recorded at USD 11.26 billion in 2024.
2. The market is projected to grow at a CAGR of 6.99% from 2025 to 2032.
3. North America held a market share of 34.53% in 2024, with a valuation of USD 3.89 billion.
4. The AC-DC converters segment garnered USD 5.12 billion in revenue in 2024.
5. The very low output (Up to 500 W) segment is expected to reach USD 5.60 billion by 2032.
6. The industrial automation segment secured the largest revenue share of 36.51% in 2024.
7. The switch-mode power supplies (SMPS) segment is estimated to register a CAGR of 7.31% through the forecast period
8. Europe is anticipated to grow at a CAGR of 7.34% during the forecast period.

Market Driver

Rising Demand for Reliable Power in Industrial Automation and Critical Infrastructure

The growing reliance on industrial automation and critical infrastructure is increasing the need for reliable and stable power supply solutions. Industries are seeking power systems that ensure consistent performance, minimize downtime, and comply with stringent safety standards to support complex control and monitoring equipment. 

This demand is driving the development and adoption of advanced power supplies that offer enhanced durability, safety certifications, and operational efficiency. As a result, manufacturers are focusing on delivering robust and compliant products tailored to meet the evolving requirements of industrial environments, thereby driving market growth.

• In February 2024, COSEL Co., Ltd launched the PDA series of AC/DC power supplies for industrial applications. The series includes the PDA15F, PDA30F, and PDA50F and is 100% form, fit and function compatible with the PBA series. The power supplies operate over a temperature range of -20 to +70 degrees Celsius and support an input voltage range of 85VAC to 264VAC. It is designed for use in measurement and process control, machine monitoring, and display devices.

Market Challenge

Rising Raw Material Costs

The industrial power supply market faces significant challenges due to the rising costs of critical raw materials such as semiconductors, copper, and rare earth elements. These cost fluctuations increase manufacturing expenses, which can impact product pricing and profit margins.

To address this, companies are adopting strategies such as diversifying their supplier base, investing in alternative materials, and improving supply chain resilience. Additionally, ongoing efforts in design optimization help reduce material usage, enabling more cost-effective production without compromising performance.

Market Trend

Increased Demand for High-Efficiency and Compact Power Solutions

The market is witnessing a growing demand for high-efficiency and compact power solutions driven by the need to optimize space and reduce energy losses. 

Manufacturers are focusing on developing power supplies and modules that deliver improved thermal performance, higher power density, and enhanced energy efficiency to meet evolving industry standards. 

These advancements enable reduced system size and lower overall operational costs, making them suitable for applications ranging from building automation to advanced data centers. This trend reflects the broader industry shift toward more sustainable and cost-effective power management solutions.

• In February 2024, Delta introduced the Chrome II Series DIN rail power supply, addressing the demand for compact and efficient power solutions in building automation and related applications. The series includes 30 W, 60 W, and 100 W models with output voltages of 12 V, 24 V, and 48 V, and supports a universal input range of 85–264 VAC.

Industrial Power Supply Market Report Snapshot

Segmentation	Details
By Product Type	AC-DC Converters, DC-DC Converters, DC-AC Inverters
By Output Power	Very Low Output (Up to 500W), Low Output (500W–1,000W), Medium Output (1,000W–10kW), High Output (10–75kW), Very High Output (75–150kW)
By Application Verticals	Industrial Automation, Transportation, Semiconductor Manufacturing, Military & Aerospace, Robotics, Others.
By Topology	Linear Power Supplies, Switch-Mode Power Supplies (SMPS), Uninterruptible Power Supplies (UPS)
By Region	North America: U.S., Canada, Mexico
	Europe: France, UK, Spain, Germany, Italy, Russia, Rest of Europe
	Asia-Pacific: China, Japan, India, Australia, ASEAN, South Korea, Rest of Asia-Pacific
	Middle East & Africa: Turkey, U.A.E., Saudi Arabia, South Africa, Rest of Middle East & Africa
	South America: Brazil, Argentina, Rest of South America

Market Segmentation:

• By Product Type (AC-DC Converters, DC-DC Converters, and DC-AC Inverters): The AC-DC converters segment earned USD 5.12 billion in 2024 due to rising demand for efficient power conversion in industrial automation and data center applications.
• By Output Power (Very Low Output (Up to 500 W), Low Output (500 W–1,000 W), Medium Output (1,000 W–10 kW), and High Output (10–75 kW)): The very low output (Up to 500 W) held 29.93% of the market in 2024, due to its widespread use in compact industrial devices and low-power electronics.
• By Application Verticals (Industrial Automation, Transportation, Semiconductor Manufacturing, Military & Aerospace, Robotics, and Others.): The industrial automation segment is projected to reach USD 7.32 billion by 2032, owing to increasing adoption of smart manufacturing and energy-efficient machinery.
• By Topology (Linear Power Supplies, Switch-Mode Power Supplies (SMPS), and Uninterruptible Power Supplies (UPS): The switch-mode power supplies (SMPS) segment is estimated to grow at a CAGR of 31% through the forecast period, driven by rising usage in compact electronic devices and industrial control systems requiring efficient power delivery.

Industrial Power Supply Market Regional Analysis

Based on region, the global market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Asia Pacific industrial power supply market share stood around 34.53% in 2024 in the global market, with a valuation of USD 3.89 billion. The market is driven by growing demand for safer, more sustainable, and intelligent power systems. 

Industries across renewable energy, manufacturing, data centers, and infrastructure are increasingly focused on improving productivity, enhancing employee safety, and minimizing downtime. 

These factors, combined with rapid industrialization, urbanization, and ongoing digital transformation initiatives, are accelerating the adoption of advanced, modular, and compliant power supply solutions throughout the region.

• In March 2024, Rockwell Automation announced the regional availability of its CUBIC product line across the Asia Pacific region. CUBIC specializes in IEC-61439 compliant modular enclosure systems for power and electrical panels. The product serves renewable energy, mining, data centers, chemical, food and beverage, and infrastructure industries. Features include standardized modular design, patented multi-flexible copper busbars (CU-Flex), pull-out automatic power-off for individual panel maintenance, and flat-pack packaging to reduce transport costs and carbon footprint.

Europe industrial power supply is poised for significant growth at a robust CAGR of 7.34% over the forecast period. industrial power supply industry growth is driven primarily by the strong focus on renewable energy integration and cleaner power sources. 

Additionally, accelerating industrial automation and digital transformation across manufacturing, automotive, and infrastructure sectors are increasing demand for advanced and reliable power supply solutions. 

These factors are supported by investments in modern technologies and a regulatory environment that encourages energy efficiency and sustainability, further fueling market expansion.

Regulatory Frameworks

• In the US, the Federal Energy Regulatory Commission (FERC) is an independent agency that regulates the interstate transmission of electricity, natural gas, and oil. It oversees theenergy markets and works to ensure reliable and efficient energy infrastructure.

Competitive Landscape

Companies in the industrial power supply market are actively expanding their presence through strategic collaborations, mergers, acquisitions, and targeted investments. They are focusing on developing advanced technologies and enhancing product portfolios to meet evolving customer demands. 

Additionally, companies are investing in sustainable solutions and digital transformation initiatives to maintain competitive advantage in a rapidly changing market landscape.

• In January 2025, DC Grid and Liberty Energy announced a collaboration to deliver integrated DC-based power solutions aimed at meeting the increasing energy needs of sectors such as commercial fleet EV hubs and data centers. The partnership combines DC Grid’s modular off-grid DC power systems with Liberty’s power infrastructure and generation technologies to provide scalable and efficient power options. These solutions focus on improving energy efficiency, reducing emissions, and enabling faster deployment of power systems for critical infrastructure projects.

List of Key Companies in Industrial Power Supply Market:

• Delta Elektronika
• Hitachi Energy Ltd
• Sinpro Electronics Co., Ltd.
• Littelfuse, Inc.
• Infineon Technologies AG
• Power Integrations.
• RECOM Power GmbH
• Delta Electronics, Inc.
• Weidmuller Electronics India Pvt. Ltd.
• Mitsubishi Electric Europe B.V.
• Eaton
• Phoenix Contact
• COSEL ASIA LTD.
• MISUMI Corporation
• Siemens AG

Recent Developments (Product Launch)

• In May 2025, ADQ and Energy Capital Partners formed a partnership to develop new power generation projects for data centers and industrial centers in the U.S.. The partnership includes greenfield development, new build, and expansion projects with planned investments of over USD 25 billion across 25 GW of capacity. Projects will focus on natural gas-fired power generation to support the growing electricity demand from data centers and energy-intensive industries.
• In March 2025, Magnachip Semiconductor Corporation introduced two new Gen6 650V IGBTs designed for solar inverters and industrial power applications. These components are built to operate under high temperature and humidity conditions and include features such as polyimide insulation layers and fast recovery anti-parallel diodes to reduce conduction and switching losses. The MBQ40T65S6FHTH and MBQ40T65S6FSTH models are intended to improve system efficiency in 15kW and 3kW solar inverters, respectively.
• In October 2024, Infineon Technologies launched the TDM2354xD and TDM2354xT dual-phase power modules to support the increasing performance demands of AI data centers. These modules introduce features such as vertical power delivery (VPD) and current density of 1.6 A/mm², aligning with the need for more efficient power conversion and thermal management. These modules are designed to reduce energy use and improve compute performance, particularly in areas requiring compact, high-efficiency power solutions