Evaluation and trend forecast of the development status of switching power supply industry in 2023

1. Definition and classification of switching power supply

Switching power supply is a power supply method that uses high-frequency pulse width modulation (PWM) or high-frequency pulse frequency modulation (PFM) technology to convert AC voltage into low-voltage DC.Switching power supply is widely used in various electronic equipment due to its small size, light weight and high efficiency. It is an indispensable power supply method for the rapid development of today's electronic information industry.

According to different output characteristics and functions, switching power supplies can be divided into the following categories:

Direct current/direct current (DC/DC) converter: a switching power supply that converts one DC voltage to another DC voltage. It is commonly used in automobiles, aerospace, communications and other fields.

DC/AC inverter: A switching power supply that converts DC voltage into AC voltage. It is commonly used in solar photovoltaics, wind power generation, emergency lighting and other fields.

AC/DC rectifier: A switching power supply that converts AC voltage into DC voltage. It is commonly used in computers, household appliances, industrial control and other fields.

AC/AC (AC/AC) inverter: A switching power supply that converts one AC frequency to another AC frequency. It is commonly used in air conditioners, refrigerators, washing machines, etc.

2. Market size of switching power supplies

According to data from Shangpu Consulting Group, in 2022, the global switching power supply market will reach US$34.92 billion, with a growth rate of 6.7%; China's switching power supply market will reach 20.42 billion yuan (approximately US$3.15 billion), with a growth rate of 7.5 %.

It is expected that by the end of 2023, with the gradual emergence of epidemic prevention and control effects and the rapid development of emerging fields such as 5G, new energy vehicles, and intelligent manufacturing, the global and Chinese switching power supply markets will resume a high growth rate, reaching 8.2% respectively. and 9.5%, the market size will reach 212 billion yuan and 87 billion yuan respectively.

3. Competitive landscape of switching power supplies

The competitive landscape of the switching power supply industry can be analyzed from two aspects, one is product competition, and the other is enterprise competition.

From the perspective of product competition, the main competitive factors of switching power supplies include price, performance, quality, service, etc.Since the technical threshold of switching power supplies is relatively low, there are a large number of low-end products on the market, resulting in fierce price competition and low product profits.At the same time, with the diversification and personalization of customer needs, the performance, quality and service of switching power supplies have also become important competitive factors.Therefore, switching power supply products need to continuously improve their comprehensive competitiveness to meet market demand.

From the perspective of corporate competition, there are many companies in the switching power supply industry, but the concentration is not high.According to data from Shangpu Consulting Group, the market concentration of China's switching power supply industry will be low in 2022. The top ten companies will have a combined market share of approximately 25%, with Taiwan's MEAN WELL at the top of the list. The market share is 6%.Followed by Taiwan's Delta Electronics (Delta), Japan's Hitachi (Hitachi), the United States' Emerson (Emerson), China's Huawei (Huawei), ZTE (ZTE), Huntkey, Pengding Holdings (Pengding), and Kelu Electronics (Kelu) and other well-known companies.It can be seen that there is a certain degree of international competition in the switching power supply industry, and domestic companies need to strengthen their independent innovation capabilities, enhance brand influence, and expand market share.

4. Upstream and downstream industrial chain of switching power supply

As a basic product, switching power supply has an upstream and downstream industrial chain involving many fields.Its upstream mainly includes suppliers of components, materials, equipment, etc., and its downstream mainly includes various terminal application fields.

From an upstream perspective, the components required for switching power supplies mainly include integrated circuits (ICs), power devices, transformers, capacitors, inductors, etc.Among them, integrated circuits and power devices are the core components that affect the performance and cost of switching power supplies.At present, there is still a certain gap in these two aspects in China, which mainly relies on imports.Materials mainly include copper wire, iron core, magnetic powder, etc.In terms of equipment, it mainly includes automated production lines, testing instruments, etc.

From a downstream perspective, switching power supplies are widely used in various terminal equipment, such as computers, communications, consumer electronics, industrial control, medical equipment, automotive electronics, new energy, etc.Among them, computers and communications are currently the largest application fields, accounting for about 60% of the market share.With the rapid development of 5G networks and data centers, the demand for switching power supplies in these two areas will continue to grow.Consumer electronics is a relatively mature and stable application field, accounting for about 20% of the market share.With the popularization of smart phones, tablets, smart wearables and other products, the requirements for switching power supplies in this field are getting higher and higher.Industrial control is a relatively fragmented and diverse application field, accounting for about 10% of the market share.With the advancement of Industry 4.0 and smart manufacturing, the demand for switching power supplies in this field will gradually increase.Medical equipment is a relatively special and strict application field, occupying about 5% of the market share.This field has high requirements on the safety, reliability, stability and other aspects of switching power supplies.Automotive electronics and new energy are two relatively emerging and rapidly developing application fields, each accounting for approximately 2.5% of the market share.With the development of technologies such as new energy vehicles, intelligent connected vehicles, and driverless vehicles, the demand for switching power supplies in these two fields will experience explosive growth.

5. Technical Development of Switching Power Supply

The technological development of switching power supplies is mainly reflected in the following aspects:

High frequency: High frequency is an important way to improve the efficiency and power density of switching power supplies and reduce the size and weight of switching power supplies.At present, the operating frequency of switching power supplies has developed from tens of kilohertz (kHz) to hundreds of kilohertz or even several megahertz (MHz).High frequency has brought about the miniaturization of transformers, capacitors, inductors and other components, as well as the reduction of switching losses, conduction losses, core losses, etc., thus improving the overall performance of switching power supplies.

Digitization: Digitization is a way to control and manage switching power supplies using digital signal processing (DSP) technology.Digitization can realize the intelligence, networking and modularization of switching power supplies, and improve the reliability, flexibility and compatibility of switching power supplies.Digitization can also realize fault diagnosis, protection, monitoring and other functions of switching power supply, and improve the safety and stability of switching power supply.

Integration: Integration is a way to integrate multiple components or functions in a switching power supply on one chip or module.Integration can realize the simplification, standardization and standardization of switching power supplies, and reduce the cost and complexity of switching power supplies.Integration can also realize interconnection between switching power supplies or with other devices, improving the adaptability and scalability of switching power supplies.

6. Application fields of switching power supply

As a basic product, switching power supply has a wide range of applications, covering various industries and fields.The following are some representative or potential application areas:

5G network: 5G network refers to the fifth generation mobile communication network. It is a new generation of wireless communication technology after the 4G network. It has the characteristics of high speed, low delay, large capacity and so on.5G networks put forward higher requirements for communication equipment such as base station equipment and data center equipment, including requirements for switching power supplies.5G networks require more and denser base station equipment, which requires smaller and lighter switching power supplies.5G networks require higher data transmission rates, which requires more efficient and stable switching power supplies.5G networks require lower energy consumption and carbon emissions, which requires more energy-saving and environmentally friendly switching power supplies.Therefore, 5G network is an important application field for switching power supplies and a huge market opportunity.

New energy vehicles: New energy vehicles refer to vehicles that use new power systems and do not rely on traditional fuels, or vehicles that use traditional fuels but adopt new driving methods. They mainly include pure electric vehicles, hybrid vehicles, fuel cell vehicles, etc.New energy vehicles are an effective way to deal with energy crisis and environmental problems, and are also the future development direction of the automobile industry.The demand for switching power supplies in new energy vehicles is mainly reflected in the following aspects: First, the battery management system (BMS), which requires switching power supplies to realize functions such as charge and discharge control, temperature control, and balance control of the battery pack; second, the drive control system (DCS), a switching power supply is required to realize the functions of speed control, torque control, fault protection and other functions of the motor; the third is the auxiliary system (AUX), which requires a switching power supply to realize the power supply and adjustment functions of air conditioning, lighting, audio and other equipment.Therefore, new energy vehicles are an emerging application field for switching power supplies and a rapidly growing market demand.

Intelligent manufacturing: Intelligent manufacturing refers to a way to realize the automation, digitization and intelligence of the manufacturing process by using information technology, network technology, artificial intelligence technology, etc.Intelligent manufacturing is an important means to realize Industry 4.0 and Made in China 2025, and is also an inevitable choice to enhance the competitiveness and innovation of the manufacturing industry.The demand for switching power supplies in intelligent manufacturing is mainly reflected in the following aspects: first, industrial robots, which require switching power supplies to realize motion control, visual control, communication control and other functions of robots; second, the Industrial Internet of Things (IIoT), which require switching power supplies Realize the power supply and connection functions for various sensors, actuators, controllers and other equipment; the third is the industrial cloud platform (ICP), which requires switching power supply to realize the power supply and protection functions for various servers, memories, routers and other equipment.Therefore, intelligent manufacturing is an important application field of switching power supplies and a continuously growing market demand.

7. Policy environment for switching power supplies

As a basic product, the policy environment of switching power supplies is mainly affected by national and industry-related policies.Here are some policies that have been influential or guiding:

'National Energy Saving and New Energy Vehicle Industry Development Plan (2021-2035)': The plan proposes to build a world-class new energy vehicle industry system by 2035, form an automotive structure with new energy vehicles as the main body, and achieve high quality in the automotive industry. development goals, and proposed key tasks such as strengthening core technological innovation, promoting coordinated industrial development, and improving infrastructure construction.This plan provides policy support and development direction for the new energy vehicle field, and also provides market opportunities and technical needs for switching power supplies in this field.

'National Integrated Circuit Industry Development and Promotion Outline': This outline proposes to build an internationally competitive integrated circuit industry system by 2030, achieve major breakthroughs in the fields of integrated circuit design, manufacturing, packaging and testing, equipment materials, etc., and meet the needs of national security and to meet the needs of economic and social development, and proposed key measures such as strengthening top-level design, optimizing industrial layout, increasing policy support, and promoting international cooperation.This outline provides policy guidance and development goals for the integrated circuit field, and also provides technical support and market demand for switching power supplies in this field.

'Action Plan for the High-Quality Development of the Electronic Information Manufacturing Industry (2021-2025)': The plan proposes to achieve high-quality development of the electronic information manufacturing industry by 2025, form a group of internationally competitive backbone enterprises and innovation platforms, and create a batch of internationally influential brands and standards, and proposed key tasks such as accelerating technological innovation, promoting industrial upgrading, and deepening open cooperation.The plan provides policy incentives and development paths for the electronic information manufacturing industry, and also provides market space and technical needs for switching power supplies in this field.

'Guidance on Promoting the Healthy Development of the Switching Power Supply Industry': This guidance is an industry guidance document issued by the China Electronics Industry Standardization Technology Association (CESA). It aims to regulate the development of the switching power supply industry and improve the quality and quality of switching power supply products. level, and put forward guiding opinions on strengthening standard formulation, improving quality supervision, promoting technological innovation, and expanding application fields.The guidance provides industry specifications and development suggestions for the switching power supply industry, and also provides reference basis and development direction for switching power supply companies.

8. Development Trend of Switching Power Supply

Based on the above evaluation of the development status of the switching power supply industry, combined with the data and analysis of Shangpu Consulting Group, the development trends in the following aspects can be predicted:

The market size will continue to grow, but the growth rate will gradually slow down.As the demand for switching power supplies in various application fields continues to increase, the market size of switching power supplies will maintain a high growth level, and Shangpu Consulting predicts that it will reach 280 billion yuan by 2025.However, due to increasing market saturation and a glut of low-end products, market growth will gradually slow down and is expected to drop to 6.5% by 2025.

The product structure will be further optimized, and high-end products will dominate.With the diversification and personalization of customer needs and the continuous improvement of technical levels, switching power supply products will develop in the direction of high frequency, digitalization, integration, etc., and high-end products will dominate.At the same time, in response to the special needs of different application fields, switching power supply products will form more market segments and differentiated products to meet the customized needs of customers.

Enterprise competition will become more intense and industry concentration will gradually increase.As market competition intensifies and customers' requirements for brand, quality, service, etc. increase, switching power supply companies will face greater challenges and pressure.On the one hand, enterprises need to strengthen their independent innovation capabilities, improve product performance and quality, increase product added value, and improve product competitiveness.On the other hand, enterprises need to strengthen their market development capabilities, expand application areas, increase market share, and improve market influence.It is expected that in the next few years, the switching power supply industry will see the rise of a number of advantageous companies and the elimination of a number of disadvantaged companies, and industry concentration will gradually increase.

Technological innovation will continue to advance, and new technologies and new products will continue to emerge.With the advancement of science and technology and the development of society, switching power supply technology will continue to advance, and new technologies and new products will continue to emerge.For example, switching power supplies based on new power semiconductor materials such as gallium nitride (GaN) and silicon carbide (SiC) have higher frequency, efficiency and power density, and can make switching power supplies smaller, lighter and stronger.Switching power supplies based on wireless charging technology can achieve contactless, wireless, and convenient power supply, and can be used in automobiles, medical, consumer and other fields.Switching power supplies based on artificial intelligence technology can realize intelligent control, management and optimization of switching power supplies, and can improve the reliability, flexibility and compatibility of switching power supplies.

9. Conclusion

Switching power supply is a basic product, and its development is affected by many factors.This report evaluates the development status of the switching power supply industry in 2023 from aspects such as the definition, classification, market size, competition landscape, upstream and downstream industrial chains, technology development, application fields, and policy environment of switching power supplies, and discusses future development. Trends are predicted.The report believes that the switching power supply industry has high growth potential and innovation capabilities, but it also faces challenges such as cost pressure, market competition, and technical barriers. It requires measures such as strengthening independent research and development, improving product quality, expanding application areas, and promoting industrial collaboration. to achieve sustainable development.