Power Distribution Component Market Growth Analysis | 2023-2028

Market Insights

The power distribution component market was estimated at USD 88.9 billion in 2022 and is likely to grow at a CAGR of 5.76% during 2023-2028 to reach USD 125.21 billion in 2028.

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What is power distribution component?

Power distribution components are the electrical equipment which regulate the distribution of electrical power to different types of equipment. These components distribute electrical power to numerous systems on an automotive vehicle or to different machines in a factory.

Key Players

Some of the major power distribution component manufacturers are-

• ABB Ltd
• Eaton Corporation
• Fuji Electric Co., Ltd.
• GENERAL ELECTRIC
• Hitachi, Ltd
• Hubbell Power Systems
• Larsen & Toubro Limited
• Powell Industries Inc.
• Schneider Electric
• Siemens.

Market Dynamics

The prime factors to drive the power distribution components market are the increasing demand for effective T&D control systems, refurbishment & retrofit of existing grid infrastructure, expansion of micro-grid networks, rising peak load demand, and integration of a sustainable energy infrastructure.

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Segments Analysis

By Product Type

The market is segmented as switchgear, switchboard, distribution panel, motor control panels, and others. The distribution panels & circuit breakers dominated the power distribution component market in 2012, due to its applicability in a wide range of applications, from low voltage suburban networks to utility-based distribution infrastructure as well as its cost-effective nature.

By Configuration Type

The power distribution component market is segmented as fixed mounting, plug-in, and withdrawable. The fixed mount segment dominated the power distribution component market in 2022, and continues to dominate the market in the coming years as well.  Requirement for higher ampacity and voltage rating infrastructure makes fixed mount power distribution components an excellent choice for manufacturing units, process plants, oil & gas exploration & extraction, and similar industrial peripherals.

By Insulation Type

The market is segmented as air, gas, oil, vacuum, and others. Vacuum insulation governed the market in 2022, driven by high consumer reliability, leakage-free technology, and its economical price.

By Installation Type

The power distribution component market is segmented as indoor and outdoor. The indoor power distribution component market is expected to grow at a faster rate during the forecast period, driven by the increasing space constraints and rising investments in R&D for the development of smart and compact control equipment.

Regional Analysis

North America is estimated to be the largest as well as the fastest-growing power distribution component market during the forecast period, driven by the increasing investment of the US government for the development of new electric networks and the gradual shift towards high-quality systems from the traditional electrical equipment.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The power distribution component market is segmented into the following categories:

By Product Type:

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

By Configuration Type:

• Fixed Mounting
• Plug - in
• Withdrawable

By Voltage Rating Type:

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

By Insulation Type:

• Air
• Gas
• Oil
• Vacuum
• Others

By Installation Type:

• Indoor
• Outdoor

By Current Type:

• AC
• DC

By Application Type:

• Residential
• Commercial
  • (Commercial Application Type Analysis: Education, Healthcare, Hospitality, Communication & Data Centers, Commercial stores, and Others)
• Industrial
  • (Industrial Application Type Analysis: Manufacturing, Mining & Metal, Process, Transportation, Oil & Gas, and Others)
• Utility

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry  at sales@stratviewresearch.com.