Power Distribution Component Market: Global Industry Share, Top Key Players, Regional Study, Upcoming Trends and Growth Segments 2027

Power distribution component are used to regulate distribution of electric power from transmission frameworks to any specific end-use equipment or the end consumers. Power distribution components not only help in the distribution of power but ensures safety and protection of end use equipment. Furthermore, with rising industrial sector demand for electricity form the industrial sector have increased, this has further propelled the demand of power distribution component, especially in the emerging economies. Increasing electricity product would drive the demand for these components during the analyzed period. Asia Pacific is the largest generator/ producer of electricity globally. Asia-Pacific accounted for 47% of the overall electricity generated across the world in 2020 (China being the largest contributor, followed by India), while North America accounted for 20.1% share, which US being the largest producer in the region.?

With increasing energy demand across Asia Pacific region, various countries across the region have ramped up their production of fossil fuels to meet the ever-increasing demand of electricity in the region. Despite the ongoing efforts to reduce the world’s reliance on high-polluting fossil fuels such as oil, it is projected that demand for fuel in the Asia-Pacific region could increase by 25% by 2040 compared to the current level.

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According to UnivDatos Market Insights (UMI)’ research report “Global Power Distribution Component Market”, the market is expected to witness a CAGR growth of XX% during the forecast period 2021-2027F. Global Power Distribution Component Market is experiencing significant growth due to the Increasing demand for effective transmission and distribution control systems, Growing industrial sector would demand more efficient power supply, and Growing spending to build efficient grid infrastructure and expansion of micro-grid networks. However, high Cost of Installation paired with Space restraints across commercial and residential buildings is expected to act as major limiting factor for the market growth.?

Based on Product, the Power Distribution Component Market is segmented into Switchgear, Switchboard, Distribution Panel, Motor control Panel, Others. In 2020, Distribution Panel segment dominated the market and is expected to remain dominant during the forecast period.?

Based on Configuration, the market is segmented into is divided into Fixed Mounting, Plug-in, Withdrawable. Fixed Mounting component segment dominated the market in 2020 and is expected to dominate the market during the analyzed period. Growing demand for high ampacity and high voltage rating infrastructure, fixed mounted power distribution components is expected to be demanded from the manufacturing units, process plants, oil & gas exploration & extraction, and similar industrial setups.

Based on Voltage Rating, the market is bifurcated into Less than 11 KV, 11-33 KV, 33-66 KV, 66-132 KV. Voltage rating have become a major industry standard for the deployment of electrical components depending on the application areas, regulatory preference, and the category of technologies to be deployed. 11-33 KV segment dominated the market in 2020, owing to increasing demand for low-voltage power distribution networks across commercial & residential end-users.

Based on Insulation, the market is bifurcated into Air, Gas, Oil, Vacuum, Others. Vacuum insulation segment dominated the market in 2020, accounting for more nearly half of the market. High consumer reliability, less competitive influence from other auxiliary insulated components, economical price, and operational reliability are the major factors contributing to the high share of the product segment.

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Based on Installation, the market is bifurcated into indoor and outdoor. Currently, indoor installation of Power Distribution Component dominates the market. Indoor power substations work at much lower ambient, say at 28 Degree C, although the outside temperature is almost above 40-degree C.

Based on End-User, the market is bifurcated into residential, commercial, and industrial. Residential sector includes single-family homes and multi-family housing, and accounts for more than one third of the overall nationwide electricity used. Commercial sector includes government facilities, service-providing facilities and equipment, and other public and private organizations. Industrial customers use electricity for processing, producing, or assembling of goods (includes manufacturing, mining, agriculture, and construction sector).

Asia-Pacific to Grab Lion’s Share

Based on regions, the report provides detailed analysis for overall adoption of Power Distribution Component in the Global region including North America, Europe, Asia-Pacific, and rest of World. Currently, Asia-Pacific dominated the market due to growing electricity demand in the region owing to rising urban population paired with ever growing industrial sector. ?

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Global Power Distribution Component Market are includes Siemens AG, ABB Limited, Eaton Corporation PLC, Schneider Electric, L&T, Hitachi Ltd, E+I Engineering, Mitsubishi Electric Corporation, Hyundai Electric & Energy, Powell Industries Inc. etc. These companies are investing heavily on Power Distribution Component production & technology to increase their customer base.

§?In 2020, Siemens acquired India-based C&S Electric, one of the leading providers of electrical & electronic equipment for infrastructure, power generation, transmission, and distribution for US$ 294 million

§?In 2020, Eaton entered into an agreement to purchase a new facility in Hodges, South Carolina, to establish a production facility for its busway product line currently spanning three facilities across Greenwood County

“Global Power Distribution Component Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go to market strategies and identifying the blue ocean for its offerings.?????

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Market Segmentation:

1.?????By Product (Switchgear, Switchboard, Distribution Panel, Motor control Panel, Others)

2.?????By Configuration (Fixed Mounting, Plug-in, Withdrawable)

3.?????By Voltage Rating (Less than 11 KV, 11-33 KV, 33-66 KV, 66-132 KV)

4.?????By Insulation (Air, Gas, Oil, Vacuum, Others)

5.?????By Installation (Indoor, Outdoor)

6.?????By End-User (Residential, commercial, industrial)

7.?????By Region (North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of APAC), and Rest of World)

8.?????By Company (Siemens AG, ABB Limited, Eaton Corporation PLC, Schneider Electric, L&T, Hitachi Ltd, E+I Engineering, Mitsubishi Electric Corporation, Hyundai Electric & Energy, Powell Industries Inc.)

Key questions answered in the study:

1.?????What are the current and future trends of the Global Power Distribution Component industry?

2.?????How the industry has been evolving in terms of end-user demand and product category?

3.?????How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.?????What are the key growth drivers and challenges for the Global Power Distribution Component industry?

5.?????What is the customer orientation, purchase behavior, and expectations from the Global Power Distribution Component suppliers across various countries??