Global AC Power Sources Market Insights Forecasts to 2033

• The Global AC Power Sources Market Size was Valued at USD 1.15 Billion in 2023
• The Market Size is Growing at a CAGR of 4.64% from 2023 to 2033
• The Worldwide AC Power Sources Market Size is Expected to Reach USD 1.81 Billion by 2033
• North America is Expected to Grow the fastest during the forecast period.

The Global AC Power Sources Market Size is Anticipated to Exceed USD 1.81 Billion by 2033, Growing at a CAGR of 4.64% from 2023 to 2033.

Market Overview

Devices known as AC power sources provide alternating current (AC) energy as a dependable source of power for a range of uses. They are employed in many different industries, including consumer electronics, medical devices, automotive, aerospace and military, and telecommunications. AC power sources are necessary for sophisticated machinery and equipment powering as well as for the testing and validation of electronic devices and systems. The growing need for dependable and high-quality power sources across a range of sectors has propelled the growth of the AC power source market in recent years. The growing use of renewable energy sources, which necessitates dependable and effective AC power sources for energy conversion and storage, is another factor propelling market expansion. The popularity of electric cars and the growing integration of sophisticated electronics in automobiles have also raised the need for AC power sources. The need for AC power sources is anticipated to stay high due to the rising emphasis on renewable energy sources and the expanding usage of sophisticated electronics in a variety of applications. This will present new possibilities for market players.

Report Coverage

This research report categorizes the market for the global AC power sources market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global AC power sources market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global AC power sources market.

Driving Factors

Due to worries about climate change and the need to cut carbon emissions, energy efficiency, and sustainability are becoming more and more important on a worldwide scale. The rising focus on reducing energy usage and environmental effects is driving up demand for energy-efficient AC power sources. In response to this demand, producers are creating more sustainable and efficient power sources that adhere to strict energy efficiency guidelines. The growth of renewable energy sources, such as solar and wind power, is being influenced by the trend towards energy efficiency and sustainability. These sources require suitable AC power sources for effective conversion and usage. Manufacturers of AC power sources are benefiting from a positive market environment as a result of policies and efforts being implemented by governments and organizations worldwide to encourage the use of renewable energy sources and increase energy efficiency.

Restraining Factors

The integration of renewable energy sources with current power systems can present several complex and substantial challenges. The intermittent nature of renewable energy generation is a major constraint, since it may cause problems with grid stability and dependability. In contrast to conventional fossil fuel-based power plants, which can be readily adjusted to fit demand, renewable energy sources, such as wind and solar power, are weather-dependent and do not always coincide with periods of peak demand. The requirement for large expenditures in grid infrastructure to support renewable energy sources is another difficulty.

Market Segmentation

The global AC power sources market share is classified into phase type, modulation type, and application.

• The single phase segment is anticipated to hold the largest share of the market during the forecast period.

Based on the phase type, the global AC power sources market is divided into single phase and three phase. Among these, the single phase segment is anticipated to hold the largest share of the market during the forecast period. Single-phase AC power sources are a dependable and affordable source of energy that may be utilized in a variety of situations, including commercial, industrial, and residential ones. Computers, music equipment, lighting systems, and other electronic devices and systems all need single-phase AC power sources. The growing need for dependable and superior power sources across a range of sectors is anticipated to propel the single-phase AC power source market's growth in the upcoming years.

• The linear AC power sources segment is expected to hold the greatest share of the market during the forecast period.

Based on the modulation type, the global AC power sources market is divided into linear AC power sources and PWM AC power sources. Among these, the linear AC power sources segment is expected to hold the greatest share of the market during the forecast period. The rising need for dependable and high-quality power sources across a range of sectors is what is fueling this expansion. The rising use of renewable energy sources, which necessitates the use of dependable and efficient AC power sources for energy conversion and storage, is another factor contributing to the segment's growth. Many sectors, including telecommunications, automotive, aerospace and military, medical devices, and consumer electronics, employ linear AC power sources extensively.

• The consumer electronics segment is estimated to hold a significant share of the global AC power sources market during the forecast period.

Based on the application, the global AC power sources market is divided into aerospace & defense, automotive, consumer electronics, medical devices, and others. Among these, the consumer electronics segment is estimated to hold a significant share of the global AC power sources market during the forecast period. A vast array of electronics, including computers, game consoles, TVs, and cellphones, are referred to as consumer electronics. These gadgets are charged and powered by AC power sources, which guarantees their proper and effective operation. The need for AC power sources for consumer electronics is predicted to increase dramatically due to the rising demand for electronics and the expanding use of portable gadgets.

Regional Segment Analysis of the Global AC Power Sources Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to dominate the global AC power sources market over the predicted timeframe.

Asia Pacific is anticipated to dominate the global AC power sources market over the predicted timeframe. One of the main causes is the region's marked industrialization, which has raised the demand for dependable and high-quality power sources across a range of businesses. In addition, the region's expanding urbanization and population have increased demand for consumer electronics, which has fueled the expansion of the AC power sources market there. The growing utilization of renewable energy sources, such as wind and solar power, is another factor contributing to the Asia-Pacific region's dominance in the market for AC power sources. Many countries in the region are making significant investments in renewable energy sources, which has increased demand for dependable and effective AC power sources for energy conversion and storage.

North America is expected to grow at the fastest pace in the global AC power sources market during the forecast period. The majority of multinational corporations, including Apple Inc., Valero Energy, Ford, General Motors, and Boeing, have established their R&D and manufacturing facilities in North America, making it a major hub for technological innovations. The North American market for AC power sources is driven by advancements in consumer electronics, aerospace & defense, and electric vehicles. Major automotive companies, including Ford and General Motors, are focused on manufacturing electric vehicles, which increases demand for AC power sources for testing the components used in electric vehicles.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global AC power sources market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Keysight Technologies
• Chroma ATE
• AMETEk Inc.
• Pacific Power Source
• Matsusada Precision
• Kikusui Electronics Corporation
• Good Will Instrument
• REGATRON
• AC Power Corp.
• B&K Precision Corporation
• Ainuo Instruments
• Orbit International Corp.
• Ikonix Corporation
• Newtons4th Ltd.
• Aplab Limited
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In November 2021, For EVSE testing, Chroma produced the Chroma 61800-100 Regenerative Grid Simulator, a 105 kVA high-power AC power supply system. 

• In March 2021, Keysight introduced the Scienlab SL 1200A Series Regenerative 3-phase AC simulators, designed for grid-tied applications and electric vehicle charging.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global AC power sources market based on the below-mentioned segments: 

Global AC Power Sources Market, By Phase Type

• Single Phase
• Three Phase

Global AC Power Sources Market, By Modulation Type

• Linear AC Power Sources
• PWM AC Power Sources

Global AC Power Sources Market, By Application

• Aerospace & Defense
• Automotive
• Consumer Electronics
• Medical Devices
• Others

Global AC Power Sources Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa