The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the DC Power Supplies Market.
It was estimated prior to this unanticipated outbreak that the DC Power Supplies Market was likely to witness an impressive CAGR of 4.7% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Market Share Analysis
DC Power Supplies Market Share: By Type
Based on the type, the market is segmented as AC-DC and DC-DC. The AC-DC segment is projected to be the faster-growing segment during the forecast period, owing to rise in demand for AC-DC power supplies for various testing & measurement applications of medical & industrial equipment, which is expected to drive the growth of this segment of the DC power supplies market during the forecast period.
DC Power Supplies Market Share: By Application Type
Based on the application type, the DC power supplies market is segmented as aerospace, defense & government services, automotive, energy, wireless communication & infrastructure, and others. The automotive segment commands the market as some applications such as power battery testing, fuel cell testing, AC/DC charging station, DC-DC converter testing, on-board chargers & charging interface testing, and high-power battery testing, are performed employing DC power supplies.
DC Power Supplies Market Share: By Region
In terms of regions, North America is estimated to be the largest as well as the fastest-growing market for DC power supplies during the forecast period, owing to the growing wireless communication & infrastructure and aerospace & defense segments of countries such as the US & Canada, which are likely to accelerate the demand for DC power supplies market in the region.
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Features of the Report
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Based on the research, a proper report is crafted with the following key features:
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