Switch Mode Power Supply Transformers Market Size, Share & Trends Analysis Report By Type (AC To DC, DC To DC, DC To AC, AC To AC), By Application (Industrial, Consumer Electronics), By Region, And Segment Forecasts, 2020 - 2027

Report Overview

The global switch mode power supply transformers market size was valued at USD 1.6 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 2.1% from 2020 to 2027. Switch mode power supply transformers are comprehensively used in electronic applications, especially within switch mode power supply (SMPS). Switch mode power supply is an electronic circuit that uses switching devices to convert power at high frequencies. The use of switching devices at high frequencies helps in enhancing the overall efficiency of the SMPS transformers. High efficiency of switch mode power supply has resulted in increased demand for these circuits, which, in turn, is expected to drive the demand for switch mode power supply transformers.

Switching transformers are gaining popularity because of their benefits such as efficient power usage, lightweight, compact size, and flexible power conversion. The ability of switching transformers to operate at a wide range of frequencies eliminates the need for heavy frequency transformers. Similarly, their ability to provide flexible power conversion makes them suitable for numerous high-reliability applications such as railway systems, machine tools used in industries, electric vehicles, security systems. The above-mentioned factors, coupled with the multiple application of switching transformers are anticipated to drive market growth over the forecast period.

The market for switch mode power supply is anticipated to witness steady growth primarily driven by novel technological products that are efficient and cost-effective. Companies are coming up with compact designs that are lighter in weight, which helps in reducing shipping costs. For instance, the high frequency, current sensing transformer series of Pulse A Yageo Company is compact in design and is cost-effective. The new series is known as New AEC-Q200 qualified PA1005.XXXQNL. This series of transformers are suitable for any application such as feedback control, overload sensing, and switching power supplies.

Although switch mode power supply transformers are power efficient and cost-effective, high-frequency noise generated by these transformers is expected to pose a challenge to their adoption across all applications. Due to their high-frequency noise, applications that require high performance and are seeking to maintain data integrity do not adopt switch mode power supply transformers. Companies like Texas Instruments Incorporated and Analog Devices Inc. are coming up with solutions to overcome the noise problem. For instance, the Analog Devices’ product ADP5135 includes multiple-switching buck regulators, which can eliminate the beat frequency problem since the company’s products’ regulators are synchronized to a common source. Such solutions are expected to eliminate the challenge and drive the market for switch mode power supply over the coming years.

Additionally, manufacturers' rising inclination to reduce carbon dioxide emissions has enabled them to introduce eco-friendly products. Furthermore, the paradigm shifts towards miniaturization of electronic components, and the emergence of IoT is expected to upkeep market growth over the forecast period. However, supply chain disruption caused due to the COVID-19 pandemic has significantly affected the market growth. The market for switch mode power supply is anticipated to experience a plunge for a couple of years and record steady growth over the long term.

Application Insights

The consumer electronics segment held the largest revenue share of 49.6% in 2019 and is anticipated to continue its dominance in the market for switch mode power supply over the forecast period. Electronics such as phone chargers, adapters, PCs, and refrigerators use switch mode power supply transformers to step down the high voltages and make them suitable for electronic gadgets. The rising number of smartphones across the globe aid in boosting the demand for phone chargers. Similarly, the demand for other consumer electronics is also rising, contributing to the segment’s revenue share.

In addition to consumer electronics, the application segment includes communications, industrial, and other applications. The industrial segment is projected to witness a CAGR of almost 2.0% from 2020 to 2027. The high growth rate is attributable to the increasing number of automotive production across the globe. Additionally, increasing usage of industrial control systems and machine tools are also expected to drive the growth of the industrial segment.

Type Insights

The AC to DC segment accounted for 46.6% revenue share in 2019 and is projected to grow at a substantial rate in the switch mode power supply transformers market in the next seven years. AC to DC switch mode power supply is used to convert AV voltages from a power source to a regulated DC voltage as per the requirements of the component utilizing the power. AC to DC switch mode power supply is widely used in consumer electronics that are connected to switches and require specific DC voltages. Thus, the increasing usage of consumer electronics is anticipated to propel the demand for AC to DC switch mode power supply.

The DC to DC segment is expected to record a substantial growth from USD 509.8 million in 2019 to 544.1 million in 2027 in the market for switch mode power supply. DC to DC power supply is called converters as they are used to step up or step down voltages, i.e. it converts an input DC voltage to a greater/lower output voltage level. The major applications of DC to DC switch mode power supply are car chargers and portable chargers that source power from sources such as a car battery. Increasing technological advancements in electronics components that allow portability and mobile charging is anticipated to be a major driving factor for the segment.

Regional Insights

Asia Pacific accounted for more than 33.0% revenue share in 2019. Large populations of countries like China and India translate to increased demand for electronic components. Additionally, countries like Taiwan, Singapore, and other Asian countries are home to the manufacturing sites of several electronic component manufacturers across the globe. Thus, the high population coupled with the high demand from the manufacturing centers, the region is expected to continue its dominance from 2020 to 2027.

North America is projected to witness a CAGR of over 2.0% in the next seven years. This growth can be attributed particularly to the noteworthy adoption of technology in the automotive industry. Automobiles with enhanced features that incorporate the ability to charge electronics using car batteries are driving the demand for DC to DC switch mode power supply in the region. The region is also home to companies such as Pulse Electronics, Triad Magnetics, and APX Technologies, Inc., which adds to the revenue share of the region.

Key Companies & Market Share Insights

The market for switch mode power supply is fragmented and characterized by a high degree of competition between several global market players and local suppliers. To stay ahead in the competition, companies focus on product differentiation through compact products capable of functioning at high voltages. For instance, in May 2020, TDK Electronics AG launched a new series of SMT current sense transformers, compact in size, and measures current up to 7 A at a frequency between 50 kHz and 1MHz. This new series of transformers provides higher reliability and reproducibility by automated production with the help of laser welding technology.

In addition to product innovation, companies are also engaging in inorganic strategies such as acquisitions, mergers, collaborations, and strategic partnerships. These inorganic strategies are aimed at growing geographical presence, improve distribution network, or to enhance their product portfolio. For instance, in April 2020, Infineon Technologies AG completed the acquisition of Cypress Semiconductor Corporation based in San-Jose. With this acquisition, Infineon Technologies AG will gain access to Cypress Semiconductor Corporation’s portfolio of connectivity components, microcontrollers, high-performance memories, and software ecosystems, thus, increasing their product offerings. Some of the prominent players in the switch mode power supply transformers market include:

• Infineon Technologies AG

• TDK Electronics AG

• Sumida Corporation

• Tamura Corporation

• Pulse Electronics

Switch Mode Power Supply Transformers Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. Grand View Research has segmented the global switch mode power supply transformers market report based on type, application, and region:

• Type Outlook (Revenue, USD Million, 2016 - 2027)

  • AC to DC

  • DC to DC

  • DC to AC

  • AC to AC

• Application Outlook (Revenue, USD Million, 2016 - 2027)

  • Communications

  • Industrial

  • Consumer Electronics

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • Korea

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa