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Frequently Asked Questions
According to Precedence Research, the global power distribution component market size was reached at USD 102.10 billion in 2020 and is projected to hit over USD 183.1 billion by 2030.
Increase in demand for effective T&D control systems and rapid urbanization and industrialization in the developing economies foster the power distribution component market growth.
The global power distribution component market is expected to reach growth at a CAGR of 6.1 % from 2021 to 2030.
The major market player GE, ABB, Eaton, Schneider, Siemens, Hitachi, Powell, Hubbell, Fuji Electric, L&T, E+I Engineering, Lucy Electric, Al Hassan Engineering, START, Norelco, Skema, Mitsubishi, Rittal, Hyundai, Hyosung, and CG.
The North America region will lead the power distribution component market and is expected to grow significantly at a CAGR during the forecast period.