Global DIN rail power supply market is anticipated to witness an exponential growth in the forecast period. A DIN rail is a standard metal rail generally use for mounting industrial control furniture inside furniture racks and circuit breakers. These products are critically manufactured from cold rolled carbon steel sheet with a chromated bright surface finish or zinc-plated. While the power supply device is combined in DIN rail systems.
A power supply is an electrical device that supplies electric power to an electric load. DIN rail power supply is an electric device that is mainly used to provide power to the DIN rail system. Factors such as technological advancement, rising government funding in the field and high demand for power supply products abroad and at home are likely to drive the DIN rail power supply market in the forthcoming period.
On the other hand, the high cost of DIN rail power supplies is anticipated to hinder DIN rail power supply market growth in the future. However, power supply units are easy to install and require no or less maintenance is likely to create lucrative opportunities for the market. Globally, market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Market could be explored by type, application, end-user industry, and geography. Market could be explored by type as Three-Phase, Two-Phase, and Single-Phase. The key applications that could be explored in the market include Process Control, Automation, and others. The
The DIN rail power supply market could be explored based on end-user industry as Power & Energy, IT Industry, Oil & Gas and Others. The & Energy
Europe is a leading region in the market. It is likely to maintain its dominance in the forecast period owing to factors, such as increasing demand from end-user industry, increasing government funding and technological advancement in the region. Germany is the largest market of DIN rail power supply in Europe.
Key players operating in the DIN rail power supply market include Siemens, PULS Weidmuller, Phoenix Contact, ABB, Mean Well, Schneider Electric, TDK-Lambda, IDEC, OMRON, Allen-Bradley, Murr, SolaHD, Bel Power Solutions, Reign Power, TRACO Power, XP Power, Astrodyne TDI, Heng Fu and Ribbon. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.