AC/DC power adapters, also known as AC-DC adapters, AC converters or chargers, is an external power supply device used with devices that run on batteries or have no other power source. AC/DC power adapters help reduce the size of a laptop, computer, and mobile phone by lessening the need for a standard sized power supply. An AC adapter is made up of a central unit which draws power from an AC outlet. It then converts the power to DC that is used by the computer, and a second cord that plugs into the computer.
This economic growth of electrical, electronic, and communication products is also expected to drive the market for AC-DC power supply equipment. Various companies have announced investments in electronics and automotive part manufacturing to fulfil the required requests. In August 2018, Samsung announced plans to boost investment in businesses that will drive its future growth, committing to an approximately US$ 21 Bn investment over the next three years, primarily led by Samsung Electronics, in the areas of artificial intelligence (AI), 5G, automotive electronics components, and biopharmaceuticals. As investments in all these sectors are on the rise, these new products will require switching power supply equipment and hence this is projected to boost the AC/DC power adapters market.
Each AC/DC power adapter has a specific power rating, measured in volts or watts that it can handle, and output to an electronic device. Because the power rating and type of plug on the end is not universal, the AC adapter can only be used with devices with the same requirements and connector.
Heavy Investments in Electrical and Electronic Products Sector
Rise in investment for power supply adapters and other electronic devices is increasing constantly. Manufacturers are investing heavily in electronics and communication sectors, due to the new era of telecommunication where various new and technologically advanced products are being manufactured.
Emerging Telecommunication Device Sector to Offer Lucrative Opportunities
The usage of mobile devices and other rechargeable electrical and electronics products are increasing significantly in the age of new and innovative telecommunication devices. This is causing an increase in the manufacturing and supply of AC/DC power adapters in the domestic and international market. AC/DC power adapters are used in a wide variety of applications that includes home appliances, computers & laptops, mobile phones & wearable, consumer electronics, automotive, and other industrial products. The market for all these products is set to increase during the forecast period, thus impacting the production of AC-DC power adapters.
The supply of AC-DC power adapters in the global market is also soaring due to the increasing demand for electrical and electronics products such as laptops, mobiles, and other gadgets
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Asia Pacific to Lead the Global Market
In terms of region, the global AC/DC power adapters market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa The AC/DC power adapters market in Asia Pacific is anticipated to expand at the maximum CAGR during the forecast period. This growth can be attributed to population increase, improving standards of living, and rise in development and expenditure on electronic products. Countries such as India and China have various leading manufacturers for adapters.
The AC/DC power adapters market in North America and Europe is likely to witness stagnant growth. The market in Latin America and Middle East & Africa is estimated to show sluggish growth during the forecast period.
Key Players in the Global Market
The global AC/DC power adapters market was highly fragmented in 2019. Prominent players operating in the global AC/DC power adapters market are focusing on technological developments and expansions to meet the growing demand for AC/DC power adapters. Moreover, manufacturers are signing partnerships for the development of innovative products and to gain higher profit margins.
Key players operating in the global AC/DC power adapters market include:
- B&B Electronics
- B&K Precision Corporation
- Delta Electronics, Inc.
- Huawei Technologies Co., Ltd.
- MEAN WELL Enterprises Co., Ltd.
- Microchip Technology Inc.
- Motorola, Inc.
- Murata Power Solutions
- Phoenix Contact
- Renesas Electronics
- TDK-Lambda Corporation
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