September 02, 2022 08:43 ET | Source: Research and Markets Research and Markets

Dublin, Sept. 02, 2022 (GLOBE NEWSWIRE) -- The "Switching Mode Power Supply - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. Global Switching Mode Power Supply Market to Reach US$29.2 Billion by the Year 2026 In the past few years, switching transformers are being widely used across a wide range of applications, which is anticipated to propel growth in the market in the coming years. SMPS transformers are compact, lightweight, and highly efficient, as well as offer the capability of reducing the device`s overall size, weight, and noise, which is making them to gain traction in applications, such as commercial power supplies, communication devices, railway systems, and medical devices. Growth in the global market is attributed primarily to the introduction of new cost-effective and efficient technological products. In recent years, the rapid growth in sales of consumer electronic products, such as personal computers, refrigerators, smartphones, and adapters, is driving an increased demand for SMPS transformers.

In addition, growing need for managing the weight and size of the electronic circuitry of electronic devices is expected to boost the demand for switching mode power supplies. Owing to their lower shipping costs and variable power conversion, SMPS transformers are finding widespread use in industrial machine tools and control systems globally. Moreover, the market growth is being fueled by the rising automotive industry that uses switching mode power supply in portable automobile chargers. Leading market participants have in recent years shifted their focus on developing environment-friendly product variants on back of environmental concerns. Amid the COVID-19 crisis, the global market for Switching Mode Power Supply estimated at US$24.5 Billion in the year 2022, is projected to reach a revised size of US$29.2 Billion by 2026, growing at a CAGR of 3.6% over the analysis period. The U.S. Market is Estimated at $7.6 Billion in 2022, While China is Forecast to Reach $4 Billion by 2026 The Switching Mode Power Supply market in the U.S. is estimated at US$7.6 Billion in the year 2022. The country currently accounts for a 31.2% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$4 Billion in the year 2026 trailing a CAGR of 4.5% through the analysis period.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR while Rest of European market (as defined in the study) will reach US$4.2 Billion by the end of the analysis period.

Consumer Electronics (Application) Segment to Reach $13.8 Billion by 2026 The demand for consumer electronics is expected to witness a significant increase, fueled by the growing urban population, rising disposable income, robust supply chain, and increasing Internet penetration globally, which is contributing to a rise in demand for switching mode power supply transformers. In the global Consumer Electronics (Application) segment, USA, Canada, Japan, China and Europe will drive the 4% CAGR estimated for this segment. Select Competitors (Total 118 Featured):

Key Topics Covered: I. METHODOLOGY II. EXECUTIVE SUMMARY 1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS 3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE III. MARKET ANALYSIS IV. COMPETITION

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