Mar 02, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Power Distribution Component Market.
It was estimated prior to this unanticipated outbreak that the Power Distribution Component Market is likely to witness a healthy CAGR of 6% during the forecast period. The prime factors to drive the power distribution components market are the increasing demand for effective T&D control systems, refurbishment & retrofit of existing grid infrastructure, expansion of micro-grid networks, rising peak load demand, and integration of a sustainable energy infrastructure.
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Power distribution components are the electrical equipment which regulate the distribution of electrical power to different types of equipment.
These components distribute electrical power to numerous systems on an automotive vehicle or to different machines in a factory.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the product type, the market is segmented as switchgear, switchboard, distribution panel, motor control panels, and others. The distribution panels & circuit breakers dominated the power distribution component market in 2019, due to its applicability in a wide range of applications, from low voltage suburban networks to utility-based distribution infrastructure as well as its cost-effective nature.
Based on the configuration type, the power distribution component market is segmented as fixed mounting, plug-in, and withdrawable. The fixed mount segment dominated the power distribution component market in 2019 and continues to dominate the market in the coming years as well. Requirement for higher ampacity and voltage rating infrastructure makes fixed mount power distribution components an excellent choice for manufacturing units, process plants, oil & gas exploration & extraction, and similar industrial peripherals.
Based on the insulation type, the market is segmented as air, gas, oil, vacuum, and others. Vacuum insulation governed the market in 2019, driven by high consumer reliability, leakage-free technology, and its economical price.
Based on the installation type, the power distribution component market is segmented as indoor and outdoor. The indoor power distribution component market is expected to grow at a faster rate during the forecast period, driven by the increasing space constraints and rising investments in R&D for the development of smart and compact control equipment.
In terms of regions, North America is estimated to be the largest as well as the fastest-growing power distribution component market during the forecast period, driven by the increasing investment of the US government for the development of new electric networks and the gradual shift towards high-quality systems from the traditional electrical equipment.
Key Players:
Key players operating in the global Power Distribution Component market are-
- ABB Ltd
- Eaton Corporation
- Fuji Electric Co., Ltd.
- GENERAL ELECTRIC
- Hitachi, Ltd
- Hubbell Power Systems
- Larsen & Toubro Limited
- Powell Industries Inc.
- Schneider Electric
- Siemens.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Power Distribution Component analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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