Power Distribution Component Market will surpass USD 140,000 million by 2025. Growing demand for efficient transmission and distribution control systems along with ongoing development of existing electrical infrastructure will augment the industry landscape. Increasing refurbishment demand of prevailing electrical setup in line with regulatory and fiscal restructuring & retrofitting across the large-scale manufacturing industries will further escalate the product demand.
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The power distribution component market across Asia Pacific, Middle East and Africa has observed significant growth on account of the growing demand for effective T&D systems. Rising demand for retrofitting of existing electrical setup coupled with increasing fund allocation across the power sector will sway the industry growth. In 2018, regulators across Saudi Arabia have planned a fund flow of USD 133 Billion for its Water and Energy projects.
North America, Europe
- Expansion of smart grid networks
- Refurbishment & retrofit of existing grid infrastructure
- Rising peak load demand
- Expansion of micro-grid networks
- Grid stability & security of supply concerns
MEA, CIS and Latin America
- Increasing electricity demand
- Integration of a sustainable energy infrastructure
Circuit breakers and distribution panels in the current industry scenario have gained impetus owing to their diverse applicability and product versatility across electric distribution infrastructure. These units yield wide scale deployment across diverse applications ranging between utility-based distribution network and low voltage suburban infrastructure. The industry players and manufacturers have shifted their focus towards the effective distribution and development of these products augmenting the overall power distribution component market.
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Power distribution component market from indoor installation is predicted to grow at a rate of over 10% by 2025. Growing space constraints in line with rapid fund allocation in research and development for the expansion of compact and smart control equipment will boost the product penetration. Continuous fund flow across commercial and residential establishments including private and public apartments, educational premises, offices, data and communication centers coupled with similar space restraint will further sway the business dynamics.
Voltage rating have acted as a standard industry protocol toward the installation of power components reliant on regulatory preference, deployment areas, and the group of products to be enclosed. Ongoing development of low-voltage distribution infrastructure across commercial and residential deployments have positively influenced the < 11kV power distribution component market.
AC units will witness an upsurge on account of the key product configurations including lesser heat generation, economical losses, flexible & efficient high-end voltage levels. Conducting properties, ease of transformation and handling will further strengthen the business potential. Furthermore, economic machinery cost, competitive lay-down costs, ease of manufacture and installation are the essential parameters stimulating the power distribution component market.
Eminent power distribution component market players include Eaton, Schneider, GE, ABB, L&T, Siemens, Powell, Hitachi, E+I Engineering, START, Al Hassan Engineering, Skema, Hubbell, Norelco, Rittal, Mitsubishi, Fuji Electric, Hyundai, Lucy Electric, CG and Hyosung.
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