We continue to expand our product portfolio to grow our addressable market and provide more products to our key customers where we are already an approved or preferred supplier.
The markets we serve
We have a broad exposure to the Healthcare, Industrial Electronics, Semiconductor Manufacturing Equipment and Technology markets. Our customers are manufacturers of capital equipment and their end markets all exhibit different degrees of cyclicality. Generally, the Technology markets are most cyclical but it is clear that the long-term growth prospects for technology are robust. Healthcare is our least cyclical sector with Industrial lying between Technology and Healthcare.
We have a diverse customer base of over 4,500 customers that we deal with directly and many more customers serviced through our distribution channels which have been growing strongly in recent years.
The diversity of our business is a significant strength with no single customer exceeding more than 11% of revenue. Further, there is no single dominant player in the markets we address due to the diversity of customer requirements.
We have no direct exposure to consumer products.
Market Size and Opportunity
We estimate that XP Power has a 7% share of its addressable global market (excluding RF Power).
The North America network consists of
11 sales offices; an extensive engineering
solutions function based in Northern
California with production facilities in
Massachusetts and New Jersey, and a
design centre in Southern California.
This network allows XP Power to provide
its major customers with local, face-toface support and rapid response times.
In Europe, the network consists of eight
direct sales offices and a further nine
distributor offices. In addition, XP Power
has engineering solutions centres in
Germany and in the UK.
With good coverage across Europe, we
have the operational flexibility to provide
good quality and timely service.
We have five direct sales offices in Asia
run from Singapore, where we also
manage a network of seven distributors
serving the region. We have engineering
solutions capability in Singapore and
South Korea to complement our offering
to customers in the region.
* Share is based on annualised revenue
Source: MicroTech Consultants 2019 Report and management estimates