Power Conversion Equipment Manufacturing in the US - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

Power up: Growing downstream demand from construction and healthy export markets will support revenue performance

The Power Conversion Equipment Manufacturing industry has experienced revenue volatility due to fluctuating growth among downstream markets. Additionally, fluctuations in the value of the US dollar have contributed volatility by destabilizing demand for imports and exports. Operators in the construction sector use industry products as inputs in their daily operations, so when this downstream activity increases, so does industry demand. Nonresidential construction and industrial production hit their greatest declines in 2020 amid the COVID-19 pandemic, with industry revenue declining 4.3% in that year alone. As the effects of the pandemic have subsided, industry revenue has recovered.

The Power Conversion Equipment Manufacturing industry comprises operators that manufacture carbon and graphite products, laser systems and electrical power conversion equipment. Products excluded from this industry include electric lighting equipment, household-type appliances, transformers, motors, generators, switchgear, relays, industrial controls, batteries and communication, energy and cable-wiring devices.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.