The power distribution component market recorded a notable revenue share in the market in 2021 and is set to be worth more than USD 183.1 billion by the end of 2030. It is poised to grow at a healthy CAGR of 6.1% from 2021 to 2030.
The report contains 150+ pages with detailed analysis. The market report also covers the estimated market sizes and trends for different countries across major regions, globally.
The power distribution component is electrical equipment that regulates the power distribution to different parts of the electronic devices. It has deep penetration in high voltage utility and in the industrial power distribution networks.
The Government interest in developing efficient energy distribution infrastructure is anticipated to create huge opportunities for the growth of Power Distribution Component Market.
Crucial factors accountable for market growth are:
- Increase in demand for effective T&D control systems.
- Rapid urbanization and industrialization in the developing economies foster the market growth.
- Rise in demand for refurbishment of prevailing electrical setup coupled with regulatory & fiscal restructuring across the industrial sector.
- Government interest and heavy investment in developing efficient energy distribution infrastructure
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Scope of The Power Distribution Component Market Report
| Report HIghlights | Details |
| Market Size In 2030 | USD 183.1 Billion |
| Growth Rate | CAGR of 6.1% from 2021 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, Configuration, Insulation, Installation, Current, Application, Region |
Research Objective
the market revenue/volume with the help of widespread quantitative and qualitative insights, and forecasts of the market. This report presents breakdown of market into forthcoming and niche segments. Additionally, this research study gauges market revenue growth and its drift at global, regional, and country from 2017 to 2020. This research report evaluates power distribution component market on a global and regional level. It offers thorough analysis of market status, growth and forecast of the global power distribution component market for the period from 2017 to 2030.
This research study offers historic data for years 2017 to 2020 along with a forecast from 2021 to 2030 based on value.
This report also provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the power distribution component market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space.
This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Report Highlights
- The distribution panels & circuit breakers component segment is expected to lead the market with largest revenue share in the upcoming years
- The fixed mount Configuration type segment of the Power Distribution Component Market is estimated to lead the market with remarkable market share in 2020
- The < 11kV voltage rating type segment accounted largest revenue share in 2020
- The indoor Installation type segment of the market is estimated to lead the market with significant revenue share in 2020
- By Geography, North America holds a significant share in 2020 in the market in terms of revenue share because of the Government investment for developing long-distance distribution networks & refurbishment of domestic electric infrastructure.
Read Also: On-Demand Transportation Market to Outstrip $701 Billion by 2030
Market Dynamics
Driver – The rise in demand for the development of effective T&D control systems is the primary factor that drives the growth of the market. Furthermore, the Government interest in developing robust energy infrastructures is also fostering the market growth. For instance, On 8th April 2021, Schneider Electric, the leader in the digital transformation of energy management and automation, announced the launch of EcoStruxureTM Rail in India. The company hopes to create a collaborative digital environment for safe, efficient, reliable, and sustainable metro train operations across the country with its end-to-end digital solution.
Restraint – The major restraining factor that will negatively impact the growth of the Power Distribution Component Market includes the high installation cost of the electrical components and the large size of electric components in case of limited space.
Challenges – The large size of electrical components may hamper the component’s operational capability and this is factor is expected to be a major challenge encountered by the market.
Regional Snapshots
North America leads the power distribution component market contributing US$ xx in 2020 and will continue to grow remarkably in the upcoming years owing to the heavy Government investments in developing refurbishment of domestic electric infrastructure and long-distance distribution networks. For instance, On 3rd February 2021, GE Power Conversion and BLP Industry.
AI have signed a Memorandum of Understanding (MOU) whereby the parties have agreed to work together to provide next generation AI technology and asset performance management solutions to help wind farm operators to maximize their asset availability and reliability. The technical expertise of GE Power Conversion’s Engineering Design Centre (EDC), in Chennai, India, will support, through software and analytics, the Asset Performance Management solutions for sector specific applications in marine, metals and renewable, etc., globally.
Key Companies Profiled
The global Power Distribution Component Market is characterized by the presence of various small and big players. 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. As the market is competitive in nature, the players are indulged in rapid adoption of advanced technologies to improve the energy transmission infrastructure and in raising their competitive share by means of strategic initiatives like mergers, new product and acquisitions.
Segments Covered in the Report
By Product
- Switchgear
- Switchboard
- Distribution panel
- Motor control panels
- Others
By Configuration
- Fixed mounting
- Plug-in
- Withdrawable
By Insulation
- Air
- Gas
- Oil
- Vacuum
- Others
By Installation
- Indoor
- Outdoor
By Voltage Rating
- < 11 kV
- 11 kV to 33 kV
- > 33 kV to 66 kV
- > 66 kV to 132 kV
By Current
- AC
- DC
By Application
- Residential
- Commercial
- Industrial
By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Russia
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
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