PUBLISHER: The Business Research Company | PRODUCT CODE: 1750902
PUBLISHER: The Business Research Company | PRODUCT CODE: 1750902
An alternating current (AC) power source is a source of electrical energy where the current periodically reverses direction, and the voltage alternates between positive and negative values. AC power is widely used for power distribution because it can be transmitted efficiently over long distances and easily transformed to different voltage levels using transformers.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The main types of AC power sources are single-phase and three-phase. A single-phase AC power source delivers electric power through two conductors: one live (phase) and one neutral. It includes various modulation types, such as pulse width modulation (PWM) AC power sources and linear AC power sources. These are used in a wide range of applications, including aerospace and defense, automotive, consumer electronics, medical devices, telecommunications, and more.
The alternating current (AC) power source market research report is one of a series of new reports from The Business Research Company that provides alternating current (AC) power source market statistics, including alternating current (AC) power source industry global market size, regional shares, competitors with a alternating current (AC) power source market share, detailed alternating current (AC) power source market segments, market trends and opportunities, and any further data you may need to thrive in the alternating current (AC) power source industry. The alternating current (AC) power source market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The alternating current (AC) power source market size has grown steadily recently. It will grow from$1.18 billion in 2024 to $1.23 billion in 2025 at a compound annual growth rate (CAGR) of 4.4%. The growth during the historic period can be attributed to the rising demand for energy-efficient electronic devices, the expansion of the renewable energy sector, the surging deployment of electronic devices, the increasing use of electric vehicles, and a growing focus on energy efficiency and sustainability.
The alternating current (AC) power source market size is expected to see steady growth in the next few years. It will grow to$1.45 billion in 2029 at a compound annual growth rate (CAGR) of 4.1%. The projected growth in the forecast period can be attributed to the integration of renewable energy, the rise in smart grid development, increasing industrial automation, higher power demand, and the growing demand for electronics testing and development. Key trends expected during this period include the integration of IoT for remote management, advancements in smart grid technologies, expanding aerospace and defense applications, technological innovations in power electronics, and increased collaborations and partnerships.
The growing adoption of renewable energy sources is expected to drive the expansion of the alternating current (AC) power source market in the coming years. Renewable energy sources, such as sunlight, wind, water, and geothermal heat, are naturally replenished and provide sustainable, clean energy. The shift towards these sources is being fueled by advancements in clean energy technologies, making solar and wind power more efficient and affordable. AC power sources are integral to renewable energy systems, as they facilitate the efficient transmission of electricity generated from sources such as solar and wind over long distances with minimal loss. This enhances the integration of clean energy into existing power grids. For example, in February 2025, the World Resources Institute reported that solar energy set a new record by adding approximately 39.6 gigawatts (GW) of capacity in 2024, surpassing the 27.4 GW added in 2023. Consequently, the growing adoption of renewable energy is driving the expansion of the AC power source market.
Leading companies in the AC power source market are focusing on developing innovative products, such as programmable AC power sources, to meet the growing demand for precise and customizable testing solutions. Programmable AC power sources are advanced electrical devices that can generate alternating current (AC) with adjustable parameters such as voltage, frequency, phase angle, and waveform. For instance, in September 2024, TDK Corporation, a Japan-based electronics company, introduced the GENESYS AC and GENESYS AC PRO series. These programmable AC power sources, rated at 2 kVA and 3.3 kVA, are designed for advanced test and measurement applications. Featuring a compact 1U chassis design, the GAC-PRO models support AC, direct current (DC), or combined AC+DC operation, providing full-rated power in DC modes. They include advanced features such as waveform generation, harmonics analysis, and real-time analog control, making them suitable for applications in automated test equipment, avionics, and automotive systems.
In December 2024, ABB Ltd., a Switzerland-based automation company, acquired the power electronics division of Gamesa Electric from Siemens Gamesa for an undisclosed amount. This acquisition strengthens ABB's position in high-power renewable energy conversion technologies and expands its product offerings to include doubly-fed induction generator wind converters, industrial battery energy storage systems, and utility-scale solar inverters. Gamesa Electric, a Spain-based company, is a key provider of AC power sources, particularly in the form of inverters for various renewable energy applications.
Major players in the alternating current (AC) power source market are AMETEK Programmable Power Inc., Keysight Technologies Inc., Advanced Energy Industries Inc., Tektronix Inc., Chroma ATE Inc., Kikusui Electronics Corporation, NF Corporation, Sophpower Electronics, Matsusada Precision Inc., Good Will Instrument Co Ltd, Regatron AG, Behlman Electronics, B&K Precision Corporation, ITECH Electronic, AC Power Corp, Pacific Power Source, Newtons4th ltd, Aplab Limited, Ikonix Corporation, and ET Systems Electronic.
Asia-Pacific was the largest region in the alternating current (AC) power source market in 2024 and it is expected to be the fastest-growing region in the forecast period. The regions covered in alternating current (AC) power source report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the alternating current (AC) power source market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The alternating current (AC) power source market consists of sales of programmable alternating current (AC) power sources, uninterruptible power supplies (UPS), frequency converters, inverters, and variable transformers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Alternating Current (AC) Power Source Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on alternating current (ac) power source market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for alternating current (ac) power source ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The alternating current (ac) power source market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.