The global power distribution component market is expected to grow at a CAGR of 6.1% over the forecast period 2021 to 2030 and is predicted to hit around US$ 15 billion by 2030.
The global power distribution component market is broadly affected by several factors such as increase in construction and infrastructure activities; and growth in access of electricity. Thus, applications of power distribution components have increased in the market.
Power distribution components are the major elements of an electric supply system for commercial, residential, and industrial sectors. The main cable comes into the distribution board and is then distributed in secondary circuits such as lights and plugs via breakers. Electric panel includes distribution panel, motor control panel, and others. In any building, electric supply is distributed from the distribution board (DB). The main supply cable goes into the distribution board, and is then distributed to the breakers and subsequently to all the circuits such as the geyser, lights, and plugs. Motor control panel is an assembly to control some or all electric motors in a central location. Motor control panel is typically found in residential and commercial buildings with many electric motors that need to be controlled from a central location such as an electrical room or mechanical room. Socket connects electric equipment to the alternating current (AC) power supply in buildings and other sites. Electrical socket is also referred as electrical outlet.
Automated Power Distribution Devices Help Reduce Electricity Generation Costs
Automated power distribution is a fast growing phenomenon in the power distribution component market. This explains why the market is expected to grow at a favorable CAGR of 6% during the forecast period. The automated distribution of electricity helps to overcome major economic challenges such as increasing cost of electricity generation, rising cost of maintenance of components, and poor customer service.
Most electric utilities aim to save costs, whilst providing better services to their customers. Companies in the power distribution component market are gaining awareness about these demands and innovating in devices that deliver automated power distribution such as in the case of digital control panels.
Based on type, the panel segment dominated the global power distribution component market in 2020.
In terms of application, the commercial segment accounted for a prominent share of the global power distribution component market in 2020. Rise in installation of energy efficient electrical systems to obtain sustainable power output & improve safety is anticipated to drive the residential segment of the global power distribution component market in the near future.
The power distribution component market in Asia Pacific is expected to expand during the forecast period. Rise in investment in single and multi-housing units in developing economies is estimated to boost the demand for the power distribution components in Asia Pacific in the near future. As per the FDI India, the real estate sector in the country is expected to reach the value of US$ 1 Trn by 2030.
The power distribution component market in North America is projected to witness favorable growth during the forecast period. Increase in spending in construction and renovation of aging electrical grid infrastructure is anticipated to propel the power distribution component market in the region. The power distribution component market in Europe is likely to expand during the forecast period, owing to the rise in spending on research and development activities to enhance the operational efficiency of power distribution components such as panels and sockets.
Key players operating in the global power distribution component market are ABB Ltd., Lucy Electric, Siemens, Eaton, Norelco, Schneider Electric SE, Larsen & Toubro Limited, Hyundai Electric & Energy Systems co., Ltd., Fuji Electric co., Ltd., Crompton Greaves Consumer Electricals Ltd., Mitsubishi Electric Corporation, and GENERAL Electric.
|Market Size||US$ 15 billion by 2030|
|Growth Rate||CAGR of 6.1% From 2021 to 2030|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2030|
|Segments Covered||Type, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||Lucy Electric, Siemens, Eaton, Norelco, Schneider Electric SE, Larsen & Toubro Limited, Hyundai Electric & Energy Systems co., Ltd., Fuji Electric co., Ltd., Crompton Greaves Consumer Electricals Ltd., Mitsubishi Electric Corporation|
Market By Type
Market By Application
Market By Region
This report focuses on power distribution component market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall power distribution component market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global power distribution component market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the power distribution component market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the power distribution component market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Power distribution component market.
Market Segments: This part of the report discusses about product, application and other segments of the power distribution component market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global power distribution component market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the power distribution component market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global power distribution component market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
The research methodology adopted by analysts for compiling the global power distribution component market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global power distribution component market.
The study objectives of this report are:
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