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Switch Mode Power Supply Transformers Market Size & Industry Share - Growth Trends & Forecasts (2023 - 2030)
ID : CBI_1077 | Updated on : | Author : Amit Sati | Category : Consumer Goods
Switch Mode Power Supply Transformers Market Introduction :
Global Switch Mode Power Supply Transformers Market Size is estimated to reach over USD 2,222.51 Million by 2030 from a value of USD 1,721.65 Million in 2022, growing at a CAGR of 3.5% from 2023 to 2030.
Switch Mode Power Supply Transformers Market Definition & Overview :
A switch mode power supply transformer is a type of transformer that is specifically designed for use in switch mode power supplies for transferring power to the industrial and commercial electronic networks. Switch Mode Power Supply (SMPS) transformers are highly efficient transformers that are widely used in several industries including consumer electronics, automotive, industrial automation, and others. The type of transformers are designed to operate at frequencies ranging between 10 kHz to 1 MHz. Moreover, the switch mode transformers are much smaller, lighter, and highly efficient compared to the linear transformers.
Market Size & Forecast
- 2022 Market Size : USD 1,721.65 Million
- 2030 projected Market Size : USD 2,222.51 Million
- CAGR (2023-2030) : 3.5%
- Base Year : 2025
Switch Mode Power Supply Transformers Market Insights
Switch Mode Power Supply Transformers Market Dynamics - (DRO) :
Key Drivers :
Growing consumer electronics sector
The switch mode power supply transformers are widely used in consumer electronics including phone chargers, adapters, personal computers, refrigerators, laptop chargers and others. High efficiency and the ability to provide a regulated output voltage to electrical networks are considered to be some of the key factors fueling their adoption in consumer electronics sector. Analysis of switch mode power supply transformers market trends concludes that their use of in consumer electronic result in minimal energy dissipation, which is another key factor driving the market expansion.
Moreover, the advent of digitalization specially in emerging economies such as India, China, Indonesia, and others has resulted in increase in requirement of consumer electronics including laptops, tablets, mobile phones, PCs, and so on. Also, governments worldwide are making investments for digital transformations and manufacturing of consumer electronic devices. For instance, the National Electronics Policy 2018 by the government of India aims to achieve turnover of more than USD 400 billion by 2025 in domestic manufacturing of consumer electronics.
Increasing adoption of industrial automation
Switch mode power supply transformers are widely used in industrial automation applications due to their efficient power usage and flexible power conversion. Transformers are a vital source of power supply for several electronic devices and systems used in industrial automation, such as industrial machine tools, safety systems, and others. Analysis of switch mode power supply transformers market trends concludes that the they play a vital role in enhancing product quality and cost efficiency, in turn driving the market expansion.
Therefore, the surge in trend for accuracy and precision in manufacturing facilities, promoted by Industry 4.0 is driving the need for industrial automation machines, thus boosting the development of the market globally. For instance, according to Manufacturing Transformation Insights Report 2022 published by World Economic Forum, industries such as electronics, automotive, medical technology, aerospace and precision parts are uniformly transforming their manufacturing processes to match the Industry 4.0 transformation standards.
Key Restraints :
Factors including complex design and high cost
The switch mode power supply transformers are more complex in design than the traditional linear transformers, thus requiring additional control circuitry including feedback loops and switching components. Further, the transformers are considered to account for higher initial cost as compared to the linear transformers. The complexity of design results in requiring additional components and higher manufacturing requirements leading to higher cost of the switch mode power supply transformers.
Future Opportunities :
Surge in production and adoption of electric vehicles
The switch mode power supply transformers are used in electric vehicles for charging purposes and for auxiliary circuits. They are considered to be an effective power supply source for various electronic systems and devices used in electric vehicles including modular grid-tied power supplies designed for smart grid and other applications. Use of these transformers in electric vehicles result in efficient power transfer and regulated output voltage to electrical networks enabling vehicles to function properly. Thus, rise in production of EVs is anticipated to positively impact the development of the market globally. Analysis of market trends indicates that several governments worldwide are taking initiatives and framing policies to reduce pollution and increasing the adoption of electric vehicles. These initiatives are emerging as one of many switch mode power supply transformers market opportunities leading to market expansion. For instance, in 2020, the European Union implemented the corporate average CO2 standards, which stimulated the sales on EVs in the region.
Switch Mode Power Supply Transformers Market Report Insights:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 | USD 2,222.51 Million |
| CAGR (2023-2030) | 3.5% |
| Based on the Type | Isolated Transformer and Non-Isolated Transformer |
| Based on the Product Type | AC to DC, AC to AC, DC to AC, and DC to DC |
| Based on the End User | IT & Telecommunication, Consumer Electronics, Automotive, Healthcare, Industrial Automation, and Others |
| Based on the Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
| Key Players | TDK Corporation, SUMIDA CORPORATION, Würth Elektronik GmbH & Co. KG, Deutschland, Pulse Electronics, TAMURA Corporation, Butler Winding, Eaton, Murata Manufacturing Co., Ltd., Coilcraft, Inc., Bourns, Inc., ICE Components, Inc., Goh Synergy Transformers Pte Ltd., Myrra, TT Electronics, Premier Magnetics Incorporated, West Coast Magnetics |
Switch Mode Power Supply Transformers Market Segmental Analysis :
Based on the Type :
Based on the type, the market is bifurcated into isolated transformer and non-isolated transformer. In 2022, the non-isolated transformers segment accounted for the highest switch mode power supply transformers market share. The non-isolated transformers do not provide electrical isolation between the input and output circuits. Factors including high efficiency and low cost are fueling the adoption of non-isolated transformers for applications in consumer electronics, battery chargers, LED lighting, and others. Analysis of market trends concludes that growing disposable income of consumers is driving the requirement of consumer electronics, in turn boosting the adoption of non-isolated transformers and increasing switch mode power supply transformers market demand. For instance, according to DCL Logistics, the sales of consumer electronics in Q3 of 2020 increased by 155% in terms of volume sales from Q1 of 2020.
The isolated transformers segment is anticipated to register the fastest CAGR growth during the forecast period. The isolated transformers provide electrical isolation between the input and output circuits of the power supply. The primary and secondary windings of the transformers are electrically isolated from each other, hence provide safety and protection against electric shocks. Increasing requirement of isolated transformers for applications requiring galvanic isolation & safety such as medical equipment, industrial automation machinery, and others is anticipated to positive impact the segment growth during the forecast period and will significantly boost the switch mode power supply transformers market growth.
Based on the Product Type :
Based on the Product Type, the market is classified as AC to DC, AC to AC, DC to AC, and DC to DC. The AC to DC segment accounted for the largest revenue share of 37.29% in the year 2022. The AC to DC conversion SMPS transformers are widely used to convert alternating current (SC) to direct current (DC). The need for AC to DC conversion SMPS transformers is driven by widespread adoption of electronic appliances, personal computers, telecommunication devices, and others. Additionally, the surge in trend towards remote working post pandemic is one of many key opportunities fueling the adoption of electronic devices including laptops and computers, in turn driving the desire for AC to DC conversion transformers and boosting the switch mode power supply transformers market demand. For instance, according to the Zippia Company, as of 2022 26% of the employees in the U.S. work remotely and this is expected to grow to around 36.2 million by 2025.
The DC to AC segment is anticipated to witness the fastest CAGR growth during the forecast period. The DC to AC conversion SMPS transformers are widely used to convert DC power from batteries or solar panels into AC power for applications including solar energy systems, electric vehicle charging, uninterruptible power supplies (UPS), and others. Furthermore, surge in government initiatives worldwide to shift from hydrocarbons to renewable energy sources is anticipated to positively impact the development of The DC to AC conversion SMPS transformers segment during the forecast period and will prominently drive the switch mode power supply transformers market growth.
Based on the End-user :
Based on the End Users, the market is classified into IT & telecommunication, consumer electronics, automotive, healthcare, industrial automation, and others. In 2022, the consumer electronics segment accounted for the highest switch mode power supply transformers market share. Analysis of market trends indicates that the rising penetration of smartphones, laptops, and other consumer devices with the incorporation of advanced features is the primary factor driving the expansion of the consumer electronics sector, in turn positively impacting the adoption of switch mode power supply transformers. For instance, according to the India Brand Equity Foundation, the overall consumer electronics sector in India was valued at USD 9.84 billion in 2021, and it is expected to grow at a steady rate at reach up to USD 21.18 billion by 2025. Additionally, according to the Semiconductor Industry Association (SIA), the United States invested around USD 142.2 billion and USD 53 billion in computers and consumer electronics such as smartphones, TV, and other related devices in 2020. Thus, growing adoption of consumer electronics is fueling the demand of switch mode power supply transformers globally.
The industrial automation segment is anticipated to witness the fastest CAGR growth during the forecast period. The surge in trend towards shifting from manual to automated operations is one of the key factors fueling the demand for robots, in turn driving the adoption of switch mode power supply transformers. In addition, rising demand for robots across the manufacturing sector to synchronize the management, control, and production processes is another factor that is expected to boost the demand for robots during the forecast period.
Based on the Region :
The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
North America accounted for the largest revenue with a share of 36.09% in the year 2022 and is projected to grow at a CAGR of 3.6% during the forecast period. The presence of some of the major players, including Pulse Electronics, Butler Winding, Coilcraft, Inc. is one of the key factors driving the growth of switch mode power supply transformers in the region. Additionally, increasing trends towards gaming is fueling the demand for consumer electronic devices including laptops, computers, gaming consoles, and others, in turn boosting the market expansion in the region. For instance, according to the Entertainment Software Association, as of 2022 around 66% of the American population, approximately 215 million people are involved in playing video games.
The Asia-Pacific region is anticipated to witness the fastest CAGR of 3.8% to grow from USD 449.52 million in 2022 to USD 593.19 million by 2030. The switch mode power supply transformers market analysis concluded that in the region, China accounted for the maximum revenue share of 29.5% in 2022. Growing requirement of consumer electronics products including laptops, computers and mobile phones among others is boosting the expansion of the market during the forecast period in the region. For instance, according to International Data Corporation (IDC), the traditional personal computer market in India witnessed a rise of 37.7% during the first quarter of 2022.
Top Key Players & Market Share Insights :
The Global Switch Mode Power Supply Transformers Market is highly competitive due to the presence of a large number of key players operating in the market. The report analyses detailed profiles of the major companies operating in switch mode power supply transformers industry. The switch mode power supply transformers market analysis concluded that the surge in Research and Development (R&D), product innovation, various business strategies, and application launches have accelerated the growth of the market. Key players in the market include-
- TDK Corporation
- SUMIDA CORPORATION
- ICE Components, Inc.
- Goh Synergy Transformers Pte Ltd.
- Myrra
- TT Electronics
- Premier Magnetics Incorporated
- West Coast Magnetics
- Würth Elektronik GmbH & Co. KG, Deutschland
- Pulse Electronics
- TAMURA Corporation
- Butler Winding
- Eaton
- Murata Manufacturing Co., Ltd.
- Coilcraft, Inc.
- Bourns, Inc.
Recent Industry Developments :
- In April 2019, TiMOTION Technology Co. Ltd. developed a SMPS (Switch Mode Power Supply) Transformer for electric actuators. The electric actuators are used in several devices including recliners, robotics, and others.
Key Questions Answered in the Report
What is Switch Mode Power Supply Transformers? +
A switch mode power supply transformer is a type of transformer that is specifically designed for use in switch mode power supplies for transferring power to the industrial and commercial electronic networks.
What specific segmentation details are covered in the switch mode power supply transformers market report, and how is the dominating segment impacting the market growth? +
The report consists of segments including type, product type, and end user. Each segment has key dominating sub-segment being driven by the industry trends and market dynamics. For instance, by type segment has witnessed non-isolated transformer as the dominating segment in the year 2022 due to the increasing demand for consumer electronics.
What specific segmentation details are covered in the switch mode power supply transformers market report, and how is the fastest segment anticipated to impact the market growth? +
In the product type segment, the DC to AC has witnessed the fastest-growing CAGR due to rising adoption of renewable energy sources.
Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030? +
The Asia-Pacific region is anticipated to witness fastest CAGR growth during the forecast period due to the increasing adoption of industrial automation and electric vehicles in the region.