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The growing consumer electronics market is another significant driver of power converter growth. The ever-increasing reliance od consumers on a vast array of electronic devices, from laptops and smartphones to the latest wearable’s and smart home gadgets, necessitates a constant need for compatible power solutions. According to the International Trade Administration, India's semiconductor industry is poised for global leadership, anticipating demand surpassing $80.0 billion by 2026 and $110.0 billion by 2030. The sector is experiencing rapid growth, with a projected 25.0% CAGR through 2028, driven by the surge in demand for compact electronic devices. While most devices come with their dedicated adapters, the demand for universal power converters remains strong. These versatile converters cater to travelers seeking adaptability across various regions with differing power outlet standards. Additionally, they offer a convenient solution for users who own multiple devices with diverse power requirements, eliminating the need for a multitude of individual chargers. This confluence of factors, driven by our expanding reliance on consumer electronics, is a significant contributor to the continued growth of the global power converter market.
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- Market Coverage
- Market number available for – 2025-2031
- Base year- 2025
- Forecast period- 2025-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Power Converter Market Report Segment
ByType
- AC to DC Converter
- DC to AC Converter
- DC to DC Converter
- AC to AC Convertor
By Application
- Renewable Energy
- Consumer Electronics
- Medical Equipment
- Electric Vehicle
- Others
By End-Use Industry
- Residential
- Commercial
- Industrial
Global Power Converter Market Report Segment by Region
North America
- United States
- copyright
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global power converter market based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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