Rockville, MD , Aug. 06, 2024 (GLOBE NEWSWIRE) -- According to a recently revised study published by seasoned analysts at Fact.MR, worldwide revenue from the Sales of Power Distribution Modules Market is estimated to reach US$ 4.93 billion in 2024. The global power distribution module market has been forecasted to increase at a CAGR of 7.1% from 2024 to 2034.
Worldwide demand for power distribution modules (PDMs) is rising due to the growing requirement for effective power management, industrialization, and technological advancements. These adaptable parts are now essential in a wide range of industries, such as renewable energy, telecommunications, manufacturing, and automobiles.
Important advantages of PDMs include space-efficient designs, improved safety via integrated circuit protection, and centralized power regulation. They are critical to the backbone of data centers, industrial automation, and smart buildings because of their capacity to streamline intricate wire systems while enhancing dependability.
PDM use is significantly increasing in the automobile industry in particular, notably with the advent of electric cars. Similarly to this, the growth of the Internet of Things (IoT) and 5G networks is driving demand in the telecom industry.
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Companies are prioritizing scalable power solutions, energy efficiency, and system dependability. This emphasizes how vital these modules are to the operation of the more intricate and linked systems of the modern world.
Key Takeaways from Market Study:
- The global power distribution module market is forecasted to reach a size of US$ 9.8 billion by the end of 2034.
- North America is expected to hold 51.4% of the global market share in 2024.
- Demand for PDMs for use in agriculture vehicles is forecasted to increase at 8% CAGR through 2034.
- The East Asia market is forecasted to reach US$ 1.89 billion by the end of 2034.
- In 2024, China is set to account for 75.7% of the market share in the East Asia region.
- Based on product type, sealed power distribution modules are estimated to generate revenue worth US$ 3.33 billion by 2024.
- The market in China is projected to expand at a CAGR of 6.9% from 2024 to 2034.
“Power distribution modules are being equipped with protective features, reducing the risk of electrical fires, which is a key factor complementing market growth,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Power Distribution Modules Market:
Some of the leading manufacturers of Power Distribution Modules are 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.
Integration of Advanced Remote Diagnostics and Optimization Features in Power Distribution Modules:
IoT connection is now included in advanced digital PDMs, allowing for predictive maintenance and real-time monitoring. The efficiency and dependability of the system are greatly increased by the remote diagnostics and optimization made possible by this smart technology.
Artificial intelligence is being integrated into state-of-the-art PDMs to dynamically change power distribution according to energy supply and demand trends. This improves overall grid stability and lowers energy waste, and it is especially revolutionary for smart grids and renewable energy systems.
Ultra-compact PDMs, which are essential for space-constrained applications like wearable technology and electric cars, are being produced using miniaturization processes. PDMs that can withstand greater voltages and currents are being produced in the meantime thanks to new materials and design techniques; these PDMs are crucial for high-power industrial applications and infrastructure that requires quick charging.
Power Distribution Modules Industry News:
- In April 2022, Cisco International Limited (US) and Telenor ASA (Norway) strengthened their collaboration by signing the fourth iteration of their Joint Purpose Agreement (JPA), which aims to empower society through a better and more secure internet. The companies restated their shared values, which are centered on sustainability as a means of closing the digital divide.
- In order to improve the home energy management and monitoring capabilities of Samsung's SmartThings Energy platform, Eaton and Samsung forged a collaboration in January 2022. Using data from connected devices in the house, Eaton's smart circuit breaker technology is integrated into the SmartThings ecosystem to help homeowners utilize energy more efficiently.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the power distribution module market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (sealed, intelligent), current rating (0 to 100 amp, 100 to 200 amp, above 200 amp), application (construction equipment, agriculture vehicles, trucks & buses, power sports, industrial vehicles, marine), and sales channel (OEMs, aftermarkets), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
Segmentation of Power Distribution Module Market Research
- By Product Type :
- Sealed
- Hardwired
- Configurable
- Fuse Only
- Intelligent
- Sealed
- By Current Rating :
- 0 to 100 Amp
- 100 to 200 Amp
- Above 200 Amp
- By Application :
- Construction Equipment
- Agriculture Vehicles
- Trucks & Buses
- Power Sports
- Industrial Vehicles
- Recreational Vehicles
- Marine
- By Sales Channel :
- OEMs
- Aftermarket
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Hybrid Electric Vehicles Market: size is anticipated to showcase a stellar growth trajectory registering a CAGR of over 14% over the forecast period 2021-2031, according to Fact.MR. Gasoline hybrid vehicles are projected to surpass a value of over US$ 100 Million by 2031.
Automotive Transmission System Market: is predicted to rise at 6.3% CAGR and climb to US$ 79.95 billion by 2033-end.
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