COVID-19 Impact analysis

• Covid-19 has influenced every organization and impacted the market dynamics, competition, and global supply chain which is affecting the market of AC. China is a major supplier both for the final product as well as the raw material used in electronics industry. India’s electronics industry is fearing supply disruptions, production reduction, impact on product prices due to heavy dependence on electronics component supply-directly and indirectly-and local manufacturing. The spread of coronavirus could have pushed down the sales of top electronic companies and smart phone makers which have major supplies to India.
• The year, 2021 is probably going to be superior to 2020 for the AC Power Sources Market players as the greater part of the organizations have continued their activities and the interest is getting re-established for them.
•  Most of the governments and organizations around the world are putting efforts and money to fight against COVID, hence, there is a possibility of delay or reduction in funding of several research activities such as renewable energy projects or initiatives.

Top Impacting Factors
AC power sources cater to applications such as LED light production line, AC motors, medical equipment testing, home appliances and avionics and marine equipment testing. The efficiencies of AC power sources exceed 90% and therefore, it incurs negligible power loss. In most countries, domestic utility is AC with frequency 60Hz or 50Hz in other countries.
Market Trends
The upsurge in the influence of western culture in developing economies of Asia-Pacific is driving the market of AC power sources owing to the increased utility of high voltage electricity, 
However, there is lack of safety standards, which can impose a significant hazard to human life owing to which the use of high-quality power equipment is utmost important.
Due to the quality products being expensive and larger penetration of local vendors, the growth of AC power sources market is restricted to some extent.
With the help of power transformer, voltage of an AC power source can be charged easily and which apparently allows distribution and transmission with amplified voltage which is boosting the AC market growth
In addition to this, rising focus on energy efficient business operations further fueling the demand for AC.
Lack of safety factors act as a restraining factor in the growth of the market.
The growth in renewable energy is increasing the demand of AC power supply for testing and manufacturing equipment’s that are used in renewable energy generation.

Key Segments Covered

Key Benefits of the Report

• This study presents the analytical depiction of the AC power sources industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the AC power sources market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the AC power sources market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed AC power sources market analysis based on competitive intensity and how the competition will take shape in coming years.