The Europe AC-DC Power Supply Adapter Market would witness market growth of 6.9% CAGR during the forecast period (2023-2029).
The reason why AC power is employed in electrical grid systems is because it moves in waves and can travel long distances. While much electrical equipment receives power from the mains via AC, others require conversion to DC power. The other form of electricity is called direct current (DC), which is employed in various ways. The route that electrons traverse with DC electricity is linear, in contrast to AC. Batteries, fuel cells, solar panels, and alternators use DC electricity.
DC power has the benefit that it consistently delivers voltage to electrical equipment. DC electricity does have certain drawbacks, though, including the fact that it can only travel small distances, which makes it inappropriate for the electrical grid. Due to the 'clean' power transmission, most electronic devices demand DC electricity. An AC-DC power supply transforms the electricity from AC to DC because mains electricity is always supplied as AC power. Transformers and rectifiers are features found in all AC-DC power sources, which can boost or drop voltage levels as needed. The parts of power supplies called rectifiers change AC power to DC.
A greater demand for medical equipment owing to the higher expenditure on healthcare further improves the prospects for the market. Germany has the highest healthcare spending among the European Union's Member States, estimated at €432 billion in 2020. After Spain ($120 billion) and Italy ($160 billion), France ($281 billion) has the second-highest level of present healthcare spending. More than any other EU Member State, current healthcare spending in France and Germany was comparable to 12.8% and 12.2% of GDP, respectively.
Medical products (non-specified by function) accounted for 18.2% of current healthcare spending in the EU in 2020, making them the second-largest function. Regarding the portion of expenditures used for various medical items, there was significant variance between EU Member States. The largest percentages, where medical supplies comprised over three-tenths of all current healthcare costs, were found in Slovakia, Greece, and Bulgaria. As medical equipment demand rises, the need for these adapters will increase. Hence, all these factors are aiding the expansion of the regional market.
The Germany market dominated the Europe AC-DC Power Supply Adapter Market by Country in 2022 thereby, achieving a market value of $1,079 million by 2029. The UK market is experiencing a CAGR of 6% during (2023 - 2029). Additionally, The France market would exhibit a CAGR of 7.7% during (2023 - 2029).
Based on Application, the market is segmented into Mobile Phones & Wearable, Computer & Laptops, Home Appliances, Electronics, Automotive and Others. Based on Type, the market is segmented into AC-DC Wall Power Adapter and AC-DC External Plug-in Power Adapter. Based on Vertical, the market is segmented into Consumer Electronics, Telecommunications, Industrial, Medical & Healthcare, Military & Aerospace and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide AC-DC Power Supply Adapter Market is Projected to reach USD 17.7 Billion by 2029, at a CAGR of 7.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Delta Electronics, Inc., Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Ametek, Inc., Keysight Technologies, Inc., Fortive Corporation (Tektronix, Inc.), Rohde & Schwarz GmbH & Co. KG, B&K Precision Corporation, ITECH ELECTRONIC CO., LTD., Chroma ATE Inc., and Good Will Instrument Co., Ltd.
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