Industrial Power Supply Market Report 2026

The industrial power supply market size has grown strongly in recent years. It will grow from $9.88 billion in 2025 to $10.66 billion in 2026 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to growth in industrial automation, increasing adoption of ac-dc and dc-dc converters, rising demand for reliable power in manufacturing, early implementation of ups systems, expansion of industrial robotics and test systems.

The industrial power supply market size is expected to see strong growth in the next few years. It will grow to $14.43 billion in 2030 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to advancements in high-efficiency power supply technologies, integration with smart manufacturing systems, growing need for scalable and modular power solutions, demand for predictive maintenance and remote monitoring, increased adoption across semiconductor and automotive verticals. Major trends in the forecast period include adoption of uninterruptible power supplies (ups) for critical systems, integration of smart ac-dc and dc-dc converters, expansion of modular and scalable power supply systems, demand for high-efficiency and low-loss power supplies, implementation of predictive maintenance and remote monitoring solutions.

The increasing adoption of electric vehicles (EVs) is expected to drive the growth of the industrial power supply market. Electric vehicles are powered by motors that draw energy from batteries, relying on electricity for operation rather than traditional fuel. Their functionality depends on various industrial power supply subsystems, such as AC/DC converters and battery management systems. Additionally, the push for net-zero emissions and measures taken in response to COVID-19 have accelerated the adoption of EVs and hybrid vehicles. This surge in demand for electric vehicles has, in turn, boosted production and demand for industrial power supply systems. For example, in May 2025, the International Energy Agency (IEA), a France-based intergovernmental energy authority, reported that global electric car sales exceeded 17 million units in 2024 and are projected to surpass 20 million units in 2025, meaning EVs will account for more than one in four new cars sold worldwide. Consequently, the growing adoption of electric vehicles is propelling the industrial power supply market.

Notable players in the industrial power supply market are concentrating on developing innovative products like digitally configurable power solutions to expand their consumer base and drive sales and revenue growth. Digitally configurable power solutions refer to systems or components adaptable through digital means. For instance, in September 2023, Advanced Energy Industries Inc. unveiled IHP Liquid, a versatile power solution delivering up to 20 kW in a compact 4U rack form factor, eliminating fan-based air cooling. Offering a choice between a single output or up to eight outputs, this solution boasts 10 programmable output modules that can operate in constant voltage or constant current modes. With the ability to combine modules in series or parallel, it accommodates varying voltage or current needs, reaching currents up to 1600 A or voltages up to 1000 V. The iHP Liquid represents a paradigm shift in flexibility and adaptability for industrial, lighting, horticulture, medical, and semiconductor applications.

In July 2023, Mitsubishi Heavy Industries Ltd., an esteemed Japanese engineering firm, completed the acquisition of Concentric LLC, the details of which remain undisclosed. This strategic move aims to amalgamate MHI's robust technological prowess with Concentric's established status as a premier national service provider. The synergy between these entities immediately augments operational advantages for facilities across North America and sets a strong footing for global service expansion. As a part of the MHI group, Concentric is empowered to accelerate its commitment to furnishing sustainable and proactive power systems and maintenance services to leaders in facilities nationwide. Concentric LLC is a US-based provider of industrial power solutions.

Major companies operating in the industrial power supply market are Siemens AG, Delta Electronics Inc, ABB Ltd, TDK Corporation, Mean Well Enterprises Co Ltd, XP Power PLC, Murata Manufacturing Co Ltd, Phoenix Contact GmbH & Co KG, Advanced Energy Industries Inc, Cosel Co Ltd, Astrodyne TDI Inc, MTM Power GmbH, GlobTek Inc, Excelsys Technologies Ltd, HiTek Power GmbH, Powerbox International AB, Triad Magnetics, Axiomatic Technologies Corp, Neeltran Inc, Mingston Electronics Inc, PULS GmbH, RECOM Power Inc, Borri Srl, Vertiv Holdings Co, Chloride Group, TMEIC Corporation.

Asia-Pacific was the largest region in the industrial power supply market share in 2025. The regions covered in the industrial power supply market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the industrial power supply market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The industrial power supply market consists of sales of transformer, rectifier, filter, regulator circuits, switches. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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