Rockville, March 30, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global power distribution modules (PDM) market is estimated at US$ 4,556.4 million in 2022 and is expected to expand at a CAGR of 7.1% by 2032. The market is poised to grow due to the advanced features provided by power distribution modules.
Enabling technological advances to further aggrandize the intelligent modules portfolio by making products with built-in advanced technology to utilize the upcoming electric market potential.
The manufacturers should focus on automation, and self-driving technologies to reduce the fuse and relays and mechanical components in commercial vehicles for future growth owing to electrification burst globally.
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| Power Distribution Module Market Scope | |
| Report Coverage | Details |
| Historic period | 2017-2021 |
| Forecast period | 2022-2032 |
| Growth momentum & CAGR | Accelerate at a CAGR of 7.1% |
| Market growth 2022-2032 | USD 9,057.19 Million |
| Market structure | Fragmented |
| Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
| Performing market contribution | North America 51.4% share |
| Key countries | US, Canada, UK, France, and Germany |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | Curtis Wright, Littlefuse Inc., Lear Corporation, Eaton Corporation, GEP Power Products, MTA S.p.A, TE Connectivity Ltd, Leoni AG, PKC Group, Yazaki Corp., Sumitomo Wiring Systems Ltd |
| Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Research & development for the modules to provide a pool of products based on different current ratings. This will help the manufacturers to strengthen their market position. Manufacturers can also establish long-term agreements with the OEMs to mobilize their resources thereby ensuring financial stability in the market.
Market-specific joint ventures for the big players could reinforce the position in the power distribution modules market with ample amount of opportunities in North America and Asia Pacific.
Late implementation of advancements in commercial vehicles in high potential markets like India, Mexico, and Brazil might prove to be a hurdle for the power distribution modules market and hamper deployment of advanced power distribution modules. Besides, not so significant innovations in the existing power distribution modules might hurt the overall growth of the market.
Key Takeaways from Market Study
- The global power distribution modules market is projected to expand at an impressive CAGR of 7.1% and be valued at US$ 9,057.2 million by 2032.
- The market witnessed 2.1% CAGR for the period of 2017-2021.
- Under product type, sealed power distribution modules are predicted to dominate the market and are estimated to be valued at US$ 3,074.0 million in 2022.
- North America dominated the market with 51.3% market share in 2021.
- Trucks and buses applications likely to represent 78.8% market share in 2022.
- Based on sales channel, OEM’s are predicted to have a market share of 84.3% in 2022.
“Technological Advancements in Automotive Vehicles to Increase Power Distribution Modules Demand” says a Fact.MR analyst.
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Competitive Landscape
Prominent manufacturers are putting emphasis on launching products that are advanced in technology and are employing marketing strategies such as partnership and collaboration with small and big market players to increase production capacities, improve market reach and thus more market share.
In 2020, a company named Littlefuse expanded its DCN line series of high voltage direct current contactors. This will help reduce coil power and help with high voltage relay switching, which would result in efficient power distribution for vehicles.
Market Development
Globally established players in the power distribution module market such as Leoni AG, TE Connectivity, Lear Corporation, Eaton Corporation, Littlefuse Inc., Sumitomo Wiring Systems Ltd, and Curtis Wright
These major manufacturers are emphasizing on product innovation to improve their market share and create USP in this highly competitive market.
With time, the PDM market has witnessed several innovations that have made the product more desirable and efficient.
In 2020, GEP power products launched a new DC PDM for its commercial vehicle applications. This new product was a big upgrade from its previous product as it had better handling ability when it came to high voltages. It was also accompanied by a compact design.
Segmentation of Power Distribution Module Industry Research
- By Product Type:
- Sealed
- Hardwired
- Configurable
- Fuse Only
- Intelligent
- Others
- Sealed
- By Current Rating:
- 0-100 Amp
- 100-200 Amp
- Above 200 Amp
- By Application:
- Construction Equipment
- Agriculture Vehicles
- Trucks and Buses
- Power Sports
- Industrial Vehicles
- Recreational Vehicles
- Marine
- Others
- By Sales Channel:
- OEM
- Aftermarket
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global Power Distribution Modules market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of product type (sealed (hardwired, configurable, fuse only), intelligent, others), current rating (0-100 amp, 100-200 amp, above 200 amp), application (construction equipments, agriculture vehicles, trucks and buses, school bus, transit & intercity, powersports, industrial vehicles , recreational vehicles, marine, others), sales channel (OEM, aftermarket) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, And Middle East & Africa).
Key Questions Covered in the Power Distribution Module Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Power Distribution Module sales grow until 2032?
- Which are the factors hampering the Power Distribution Module demand?
- Which region will spearhead the growth in the global industry by 2032?
- Which are the factors driving sales in the Power Distribution Module Market during the forecast period?
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