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The Global Power Conditioner Market is forecast to reach $ 20,221.52 million by 2027 at a CAGR of
3.9% during 2022-2027. The Power Conditioner Market growth can be attributed to various factors
including impeccable demand of high-end, secure and
reliable consumer appliances like computers, laptops, smart phones, audio
books, television, air conditioner and others. In
addition, growing number of industry verticals have been adopting advanced power conditioner
technologies for safeguarding the devices and applications from power surges
and power fluctuation damages, thereby accelerate the market growth.
Furthermore, significant investments
by the leading companies, such as Mitsubishi Electric Corporation, Toshiba
Corporation, Eaton Industries GmbH, and many more to design reliable power conditioner,
is further aiding the market growth of power conditioners. resulting into the
growth of the power conditioner market.
Industrial sector dominated the
global power conditioner market with $
5,813.86 Million in 2021, due to increasing adoption across various industry
verticals, such as automotive, semiconductor, food and beverage, chemical, oil
& gas and others to prevent equipment from power surge. In September 2020, NXT Power, a leading
manufacturer of advanced power quality solutions launched two power
conditioners. The single-phase power conditioner by NXT Power developed ranged between
2 to 7 kVA while the 3-phase power conditioner was of 10 kVA to 300 kVA range.
Both the power conditioners were developed to provide clean and reliable
quality power solutions to a wide range of industrial applications. Therefore,
growing installation of the power conditioners to offer stable as well as
uninterrupted power supply to the designated electronic devices across the
industrial facilities drive the growth of the power conditioner market
Asia Pacific region dominated the global power conditioner market with a share of 39% in 2021 and is also anticipated to witness highest growth with a CAGR of 5.9% during 2022-2027. The factors such as growing economy across the Asia Pacific region due to the promising emergence of the industrial sector, government initiatives for renewable energy, and others have been acting as prime factors for boosting the market growth. Moreover, potential investments across healthcare sector to promote the advancement of the infrastructure and laboratories equipment in China, are observed to drive the market growth. In 2020, as per the National Bureau of Statistics, the healthcare laboratory, R&D and equipment like Colonoscope, X-Ray Film processor tabletop, Ultrasound investment in China rises 10.3% to $378 billion. On the other hand, as per the Semiconductor Industry Association (SIA) it is stated that the Chinese semiconductor industry is estimated to invest US$12.3 billion and US$15.3 billion in 2021 and 2022 respectively. Hence, these factors are set to drive further market growth of power conditioners in APAC region in the coming time.
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Power Conditioner Market Growth Drivers:
Noteworthy growth of Smart factory phenomena is positively
impacting the market growth of power conditioners.
The manufacturing sector across the globe is transforming
into smart factory in reference to the overall integration of automation
solutions with the support of the wide scale adoption of diversified control
technologies, such as drives, motors, and more, which further contribute to the
growth of the Power Conditioner Market. According to the Cisco
Annual Internet Report, by 2023, there been an enormous shift in manufacturing
sectors owing to rapid adoption of IoT, which boost smart factory trends, and there
will be 14.7 billion machine-to-machine (M2M) connections. In addition, promising rise in
installation of power conditioners in electric vehicles
components such as auxiliary power units, fuel cells and more to stabilize
as well as regulate the current fluctuations are set to drive its market growth
forward.
Significant demand of electric
vehicles to influence the market growth of power conditioner
The increasing use of power conditioners in the electronic vehicles to monitor as well as stabilize electric surge in numerous automobile components, including auxiliary power units, fuel cells and many more drive the power conditioner market growth. For instance, in 2020 Mitsubishi Electric Corporation announced about the launch of the new miniaturization and energy-efficient technologies for electric vehicle (EV) power conditioners. Thus, the growing innovation in the electricity stored in EV batteries, along with the increasing introduction of advanced factory automation boost the power condition market.
The Major Players in this Market Include
Major players in the Power Conditioner Market include Legrand (Middle Atlantic), Schneider Electric (APC), Eaton (Powerware), Eaton (TrippLite), Emerson, Fuji Electric Co., Ltd., Toshiba Corporation, Mitsubishi Electric Corporation, Furman, MTE (Teal), Juice Goose, SnapOne (Watt Box), Controlled Power Company, Xtreme Power Conversion among others. In March 2021, Toshiba had introduced the 650V Super Junction Power MOSFETs in TOLL Package, designed for enhancing efficiency of high current equipment. These MOSFETs can be utilized as power supplies in industrial equipment such as photovoltaic power conditioners as well as data centers.
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