Amid the COVID-19 crisis, the global market for AC Power Sources estimated at US$990.1 Million in the year 2020, is projected to reach a revised size of US$1.2 Billion by 2027, growing at a CAGR of 2.6% over the period 2020-2027.
Three-Phase, one of the segments analyzed in the report, is projected to record 2.7% CAGR and reach US$779.8 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Single-Phase segment is readjusted to a revised 2.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $268.5 Million, While China is Forecast to Grow at 4.2% CAGR
The AC Power Sources market in the U.S. is estimated at US$268.5 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$224.5 Million by the year 2027 trailing a CAGR of 4.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.7% and 2.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2% CAGR.
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