Dublin, April 07, 2021 (GLOBE NEWSWIRE) -- The "Power Distribution Component Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
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.
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.
The global power distribution component market has been can be segmented on the basis of product, configuration, voltage rating, insulation, installation, current, application and geography:
- By product, the market can be segmented into switchgear, switchboard, distribution panel, motor control Panel among others.
- By configuration, the market has been segmented into fixed mounting, plug-in, withdrawable.
- By voltage rating, the market has been segmented into < 11 kV, 11 to 33 kV, 33 to 66 kV, and 66 to 132 kV.
- By insulation, the market has been segmented into air, gas, oil, and vacuum among others.
- By installation, the market has been segmented into indoor and outdoor.
- By current, the market has been segmented into AC and DC
- By application, the market has been segmented into residential, commercial and industrial.
- By Geography, the market has been segmented into North America, Latin America, Europe, Asia-Pacific, Middle East and Africa.
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
Spike in residential interest
With these components being economical and having wide applications, residential interest in these components is on the rise. Applications like being used in the mining of cryptocurrencies among other factors plays a role in keeping residential consumers on the lookout for these components
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
Space Limitations
Due to the large size of these components, the wide use application might get effected acting as a restraint to the market's growth
COVID-19 Pandemic
Delivery of raw materials required for manufacturing power distribution components, restrictions on cross-border trade and movements and plateauing investments for the development of new power distribution components due to the novel COVID-19 crisis also had a negative impact on the growth of the power distribution component market
Competitive Insights
The global power distribution component market is a competitive and saturated market with a number of big and small players catering to local and international demands. Prominent/major key market players in the global power distribution component market include Eaton, Schneider, ABB, L&T, Siemens, Powell, and Hitachi among others. The players in the global power distribution component market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the global power distribution component
Mergers and Acquisitions
- In June 2019, Japan's Fuji Electric Co. acquired Consul Neowatt Power Solutions Pvt Ltd
- In July 2018, BB announced its acquisition of GE Industrial Solutions in a $2.6 billion deal.
Key Topics Covered:
1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Power Distribution Component Market Analysis, By Product
5.1. Introduction
5.2. Switchgear
5.3. Switchboard
5.4. Distribution Panel
5.5. Motor control Panel
5.6. Others
6. Global Power Distribution Component Market Analysis, By Configuration
6.1. Introduction
6.2. Fixed Mounting
6.3. Plug-in
6.4. Withdrawable Unit
7. Global Power Distribution Component Market Analysis, By Voltage Rating
7.1. < 11 kV
7.2. 11 to 33 kV
7.3. 33 to 66 kV
7.4. 66 to 132 kV
8. Global Power Distribution Component Market Analysis, By Insulation
8.1. Air
8.2. Gas
8.3. Oil
8.4. Vacuum
8.5. Others
9. Global Power Distribution Component Market Analysis, By Installation
9.1. Indoor
9.2. Outdoor
10. Global Power Distribution Component Market Analysis, By Current
10.1. AC
10.2. DC
11. Global Power Distribution Component Market Analysis, By Application
11.1. Residential
11.2. Commercial
11.3. Industrial
12. Global Power Distribution Component Market Analysis, by Geography
12.1. Introduction
12.1.1. United States
12.1.2. Canada
12.1.3. Mexico
12.2. South America
12.2.1. Brazil
12.2.2. Argentina
12.2.3. Others
12.3. Europe
12.3.1. United Kingdom
12.3.2. Germany
12.3.3. France
12.3.4. Others
12.4. The Middle East and Africa
12.4.1. Saudi Arabia
12.4.2. Israel
12.4.3. Others
12.5. Asia Pacific
12.5.1. China
12.5.2. Japan
12.5.3. India
12.5.4. Australia
12.5.5. Others
13. Competitive Environment and Analysis
13.1. Major Players and Strategy Analysis
13.2. Emerging Players and Market Lucrativeness
13.3. Mergers, Acquisitions, Agreements, and Collaborations
13.4. Vendor Competitiveness Matrix
14. Company Profiles
14.1. Eaton Corporation
14.2. Schneider Electric
14.3. ABB Ltd
14.4. L&T
14.5. Siemens AG
14.6. Powell
14.7. Hitachi Ltd
14.8. E+I Engineering
14.9. Mitsubishi Electric Corporation
14.10. HYUNDAI ELECTRIC & ENERGY SYSTEMS CO., LTD.
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