REPORT OVERVIEW
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The global plating power supplies market size is expected to be USD 114.8 million in 2022 and the market is projected to touch USD 169.4 million by 2028, with a growing CAGR of 6.7% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with plating power supplies experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.
Usually, dc power supplies offer a well-regulated current or voltage range that is pre-set and then the supply turned on and off as required. This is the usual purpose of a power supply in electronics such as a computer or battery charger. Nevertheless, in the plating industry, plating engineers refer to power supplies as rectifiers. Not only does the dc output upsurge need to be controlled, but in certain uses, the output waveform must be exactly measured as well. In the semiconductor and circuit-board business, a changed type of power supply is used. Engineers in these fields use rectifiers with a pulse periodic reverse (PPR) output to copper-plate their products to obtain augmented speed and presentation.
COVID-19 Impact: Supply and Lockdown Limitations to Upsurge Market Advancement
The COVID-19 disease has harmfully exaggerated the development of the plating power supply market worldwide as the demand for the power supply goods dropped considerably. Governments globally have controlled many commercial actions to decrease the spread of the coronavirus. The extensive developments in the renewable energy segment which were strategic by the management have also got shut-down owing to the virus, this postponed the path that was directed for the clean energy evolution. Moreover, corporations across altered geographies had to shut down their industrial amenities and facilities as incomplete or full lockdowns were forced to cover the pandemic.
LATEST TRENDS
"Incorporation in Various Applications to Stimulate Market Development "
The increasing demand for metal finishing elements such as hydrochloric acid, nitric acid, sulphuric acid, and others is increasing at a stable pace. This trend is anticipated to endure specially as numerous businesses accept metal finishing to safeguard improved chemical resistance of equipment parts and offer shields in contradiction of wear and tear.
Automotive, electrical, aerospace, and defense industries are among the key end users in the market. The increasing demand for innovative properties from these sectors has been boosting market player’s emphasis on new launches. This also presents profitable predictions for the growth of the market.
SEGMENTATION
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- By Type
Based on type; the market is divided into Automatic Plating Equipment, Semi-Automatic Plating Equipment, and Others
Automatic Plating Equipment is the leading part of this segment.
- By Application
Based on application; the market is divided into Automotive, Machinery, Home Appliance, Electronic, and Others
Automotive Charges is the leading part of the application segment.
DRIVING FACTORS
"Increasing Demand from Electronic Industry Boost Market Growth"
The global market for the item will expand at a rapid pace during the forecast period. Predictions for development seem to be favorable. The rate at which electronic products are sold globally, results in a robust increase in demand. Constructors of electronic products, electrical devices and components, are essential to use electroplating techniques to coat metal surfaces consistently. These changes result in market expansion.
"Growing Adoption in Telecommunication Sector to Accelerate Market Growth"
The growth in financial development turns out to be some of the main features driving the plating power supplies market. The rise in the requirement for falling scarcity and improving the excellence of the life cycle with the support of new energy services has an optimistic effect on the market. The surge in want for long term energy security that is a suitable venture to supply energy supplementary impact the market. It provides financial growth and a supportable atmosphere worldwide. The upsurge in the telecommunication sector backed in the growth of the market.
RESTRAINING FACTORS
"Environmental Issues to Hinder Market Growth"
The adoption of High-Voltage Direct Current (HVDC) and renewable energy sources, and various regional/country-wise regulatory and safety standards are expected to obstruct market growth.
REGIONAL INSIGHTS
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"Technological Advancement to Foster Growth in Asia Pacific"
Asia Pacific has the largest plating power supplies market share when compared to other geographical regions. The increasing adoption of consumer electronics systems, and rolling uses of power supply in the healthcare electronics, construction sector. Moreover, technical development, digitization, and mechanization in diverse sectors are making possible prospects for the producers in the plating power supplies market growth.
North America is anticipated to have a sizable market share. A boost in the region's automobile industry will encourage the increased use of precious metal plating chemicals in the production of catalytic converters for automobiles and the coating application of several automotive parts, either through electroplating or coating application.
KEY INDUSTRY PLAYERS
"Prominent Players in the Market to Boost Market Growth"
The information in this market was gathered from a variety of sources. Trade journals, statistics from professional associations, university studies, and government reports are just a few examples. In addition to these primary sources, information is gathered from producers, distributors, sellers, retailers, micro-experts, and other market participants. The report includes information about industry participants and their local activities. Partnerships, technological advancements, acquisitions, mergers, and industrial facility expansion are a few examples of data collection and reporting methods.
List of Market Players Profiled
- Sansha Electric (Japan)
- Kraft Powercon (Sweden)
- American Plating Power (U.S.)
- Dynapower (U.S.)
- VOLTEQ (U.S.)
- Kexiong Power (China)
- Taision (U.S.)
- Munk (U.S.)
- Liyuan (China)
- Spang Power Electronics (U.S.)
- Plating Lab (Hong Kong)
REPORT COVERAGE
The research includes a comprehensive examination of the market's current state, including raw materials, technology, and equipment, as well as supply and demand, production capacity, and industry chain analysis. This study assesses the market potential as well as the market risks associated with the emergence of specific categories. The influence of major market drivers and restraints on market growth is also assessed. The performance of major firms is evaluated over time, and their effects on market dynamics are investigated
| REPORT COVERAGE | DETAILS |
|---|---|
| Market Size Value In | US$ 114.8 Million in 2022 |
| Market Size Value By | US$ 169.4 Million by 2028 |
| Growth Rate | CAGR of 6.7% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| Historical Data Available | Yes |
| Segments Covered | Types & Application |
| Regional Scope | Global |
Frequently Asked Questions
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1.What value is the plating power supplies market expected to touch by 2028?
The global plating power supplies market is expected to reach 169.4 million by 2028
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2.What CAGR is the plating power supplies market expected to exhibit by 2028?
The plating power supplies market is expected to exhibit a CAGR of 6.7% by 2028.
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3. Which are the driving factors of the plating power supplies market?
Increasing demand from the electronic industry and growing adoption in telecommunication will drive the growth of the plating power supplies market.
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4. Which are the top companies operating in the plating power supplies market?
- Sansha Electric, Kraft Powercon, American Plating Power, Dynapower, VOLTEQ, Kexiong Power, Taision, Munk, Liyuan, Spang Power Electronics, Plating Lab are companies operating in the plating power supplies market.
