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Power Distribution Component Market Growing Dynamically USD 90 billion at a CAGR +6% by end of 2027| GE, ABB, Eaton, Schneider, Siemens, Hitachi, Powell, Hubbell, Fuji Electric, L&T, E+I Engineering, Lucy Electric, Al Hassan Engineering, START, Norelco

Power distribution component refers to equipment which is used to regulate distribution of electric power from transmission frameworks to particular end use equipment or consumers. A real-world scenario would include the components used to regulate distribution of power to various machines in a factory or to use various systems in a car. They have a critical role to play not only in the distribution of power but also to ensure safety and protection of end use equipment and personnel operating it. Designed to distribute power, these components are capable of handling high and medium voltage and distributing it according to the power demand of the end use equipment.

Global Power Distribution Component Market size in 2021 exceeded USD 90 billion and is anticipated to grow over +6% by 2027.

The rise in the demand of power distribution components is propelled due to the need of effective transmission and distribution control systems needed for refurbishing old electric systems and the addition of such components to prevent systems failures or accidents in electric systems. With industrialization, the need for such components is ever increasing, especially in the developing economies. The fiscal & regulatory restructuring across the large-scale industries combined with administrative and financial rebuilding has boosted the demand for such components. Being economical, adaptable and having wide application, these components have wide relevance not only for industries and institutions but for individual consumers as well. Some of the widely used power distribution components are switchgear, switchboard, distribution panel, motor control Panel among others. While having various applications, components such as switchgear are used to switch devices on or off and can be used in the control of low, medium, or high voltage power distribution, while also having new age applications like being used on cryptocurrency farms for mining cryptocurrencies like bitcoin.

With rapid digitisation across industries the need for power distribution components is bound to grow, however, despite the components themselves being economical, the installation costs of these components remains high acting as a restraint to the market growth and more widespread adoption. Also being quite large in size, limited space may hinder the component’s operational capability and in turn effect the market growth.

Power Distribution Component Market Key Players

Prominent market participants include 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.

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Growth Factors

Need of effective transmission and distribution control systems

The need for effective T&D control systems has propelled the growth for power distribution components. The outdated electric systems need refurbishing and in turn demand for these components is on the rise. Rapid industrialization and urbanization has increased the need for these components combined with the regulatory restructuring in large scale industries. With expansion of smart grid networks in North America and expansion of micro-grid networks in APAC region, market growth is ensured

Restraints

High installation costs

The high installation costs of power distribution components like switchgears might be not being very economical for certain institutions and residential consumers acting as a barrier to the market’s growth.

Market Segmentation

By Product

  • Switchgear
  • Switchboard
  • Distribution Panel
  • Motor Control Panels
  • Others

By Configuration

  • Fixed Mounting
  • Plug-in
  • Withdrawable

By Voltage Rating

  • < 11 kV
  • 11 to 33 kV
  • 33 to 66 kV
  • 66 to 132 kV

By Insulation

  • Air
  • Gas
  • Oil
  • Vacuum
  • Others

By Installation

  • Indoor
  • Outdoor

By Current

  • AC
  • DC

By Application

  • Residential
  • Commercial
  • Industrial

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Reginal Analysis:

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Recent Development

  • In November 2018, ABB Ltd. launched the world’s first dry-type (oil free) digital transformer, the ABB Ability TXpert Dry, and another innovative product called TXpand at its ABB Customer World (ACW) event in Xiamen, China
  • In April 2019, Siemens launched Sensgear and Sensformer. These new digital switchgears are part of the digitally connected transformer portfolio of the company. Gas-insulated switchgear, circuit breakers, surge arresters, disconnectors, instrument transformers, and coil products would be equipped with the Sensgear technology.
  • In June 2020, Eaton announced its agreement to purchase a new facility in Hodges, South Carolina, thus establishing a new home for its busway product line currently spanning three facilities across Greenwood County. The investment in the new facility is expected to consolidate operations to one location to support accelerated growth of the comprehensive portfolio of power distribution and control equipment solutions used in hospitals, data centers, factories, and commercial, residential, and industrial facilities.
  • In October 2019, Mitsubishi Electric Corporation started construction of a new plant in Gujarat, India. The new plant is likely to enable the company to expand its output of products such as motor-control units for electric power steering, exhaust gas recirculation valves, and giant magnet-resistance sensors.

Detailed TOC of Global Power Distribution ComponentMarket   Research Report-

– Power Distribution Component Market Introduction and Market Overview

– Power Distribution Component Market, by Application

– Power Distribution Component Market Industry Chain Analysis

– Power Distribution Component Market, by Type

– Industry Manufacture, Consumption, Export, Import by Regions

– Industry Value ($) by Region

– Global Power Distribution Component Market   Status and SWOT Analysis by Regions

– Major Region of Power Distribution Component Market

  1. i) Global Power Distribution Component Market Sales
  2. ii) Global Power Distribution Component Market Revenue & market share

– Major Companies List

– Conclusion

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