Power Distribution Component Market (By Product: Switchgear, Switchboard, Distribution panel, Motor control panels, Others; By Configuration: Fixed mounting, Plug-in, Withdrawable; By Insulation: Air, Gas, Oil, Vacuum, Others; By Installation Type; By Voltage Rating Type; By Current Type; By Application) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023 - 2032
The global power distribution component market size was estimated at USD 101 billion in 2022 and is expected to reach over USD 176.65 billion by 2032, expanding growth at a remarkable CAGR of 5.80% from 2023 to 2032.
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The U.S. power distribution component market size was valued at USD 25.52 billion in 2022 and is projected to hit over USD 44.63 billion by 2032, with a CAGR of 5.80% between 2023 to 2032.
North America accounted largest revenue share in 2022 and is expected to grow significantly at a CAGR during the forecast period. It is due to the surge in Government investments in order to develop refurbishment of domestic electric infrastructure and long-distance distribution networks. Furthermore, the growing emphasis on replacing traditional electrical equipment with innovative, high-quality systems is likely to boost market demand.
In the past decade, the power distribution component market across Asia Pacific and LAMEA has seen significant growth owing to the rising demand for restoring the electrical setup and with the heavy Governments investments to develop energy infrastructure. These factors are estimated to boosts the market growth. For instance, On 19th October 2021, Samsung Heavy Industries (SHI) has granted GE Power Conversion a new contract to deliver its SeaGreen Power Take Off (PTO) system, which incorporates GE's latest medium voltage Advanced technology Permanent Magnet Machine (APMM), for Maran Gas Maritime’s new LNG carrier. The LNG carrier will be delivered to Maran, the LNG shipping specialists based in Greece, in 2023 and will be built at Samsung Heavy Industries yard in Geoje, South Korea.
The spike in demand for effective T&D control systems is a primary driver of the power distribution component market's growth. In addition, the market demand is likely to be accelerated by a rise in demand for refurbishment of existing electrical setups, as well as regulatory and fiscal reorganization across the industrial sector.
Moreover, the absence of reliable and efficient electric network across the developing nations has fostered the demand for the development of efficient power distribution system. Also, with the Government policies and heavy investment in order to develop an efficient energy distribution infrastructure is fueling the market growth.
The rapid urbanization and industrialization in the developing economies such as India and China are expected to boost the market growth. Also, the surge in construction sector is estimated to drive the market growth. With the increasing demand for electric vehicles all over the world, the need for development of energy infrastructure surges and this attribute is anticipated to fuel the growth of the Power Distribution Component Market.
| Report HIghlights | Details |
| Market Size In 2032 | USD 176.65 Billion |
| Market Size In 2023 | USD 106.35 Billion |
| Growth Rate | CAGR of 5.80% from 2023 to 2032 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Product, Configuration, Insulation, Installation, Current, Application, Region |
| Companies Mentioned | 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 |
The power distribution component market is segmented into switchgear, switchboard, distribution panel, motor control panels, and others based on product type. Due to its utility in a variety of applications ranging from low voltage suburban networks to utility-based distribution infrastructure, the distribution panels & circuit breakers component segment leads the power distribution component market is expected to grow at a highest CAGR during the forecast period. Its cost effectiveness is also one of the primary elements driving market expansion.
Based on the configuration type, the market is divided into fixed mounting, plug-in, and withdrawable.
The fixed mount configuration type segment leads the market with remarkable revenue share in 2020 and is expected to grow significantly growth rate during the forecast period. It is because of the demand for fixed mount power distribution components having a greater ampacity and voltage rating infrastructure, making them an excellent alternative for fixed mount power distribution components having a greater ampacity and voltage rating infrastructure, making them an excellent alternative for process plants, manufacturing units, oil & gas exploration & extraction and similar industrial peripherals.
Based on the insulation type, the Power Distribution Component Market is divided air, gas, oil, vacuum, and others. The Vacuum insulation type segment leads the market in 2020 and is expected to witness highest CAGR during the forecast period owing to its high consumer reliability, leakage-free technology, and its economical price.
Based on the installation type, the market is divided indoor and outdoor. The indoor Installation type segment dominated in the market in 2020 and is expected to grow significantly at a CAGR during the forecast period. It is because of the surge in space constraints and increasing investments in research and development for the growth of smart and compact control equipment.
Based on the Voltage Rating type, the < 11kV voltage rating type segment leads the power distribution component market in 2022 and is expected to grow significantly at a CAGR during the forecast period. It is because of the rapid expansion of low-voltage distribution networks across commercial & residential establishments. Furthermore, operational performance, flexible product configurations and aesthetic proximity are some of the attributes that drives the market growth.
Based on the Current type, the AC current type hit largest revenue share in 2022. It is due to its lucrative features such as less heat generation, economical energy loss, flexible and effective high-end voltage levels.
Furthermore, the ease of handling conducting properties integrated with ease of transformation, competitive lay-down costs, economic machinery cost and manufacture are few indispensable parameters are some of the attributes that fuels the market growth.
Based on the Application type, the industrial application type segment leads the power distribution component market in 2022 and is projected to hit highest growth rate during the forecast period owing to development of secure and smart electric infrastructure across the world. Also, expansion of data centers, communication hubs and rapid growth in demand for energy are some of the factors that are anticipated to drive the growth of the Power Distribution Component Market.
Key Companies Profiled
The global Power Distribution Component Market is characterized by the presence of various small and big players. The major market player 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. As the market is competitive in nature, the players are indulged in rapid adoption of advanced technologies to improve the energy transmission infrastructure and in raising their competitive share by means of strategic initiatives like mergers, new product and acquisitions.
Segments Covered in the Report
By Product
By Configuration
By Insulation
By Installation
By Voltage Rating
By Current
By Application
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Application Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Power Distribution Component Market
5.1. COVID-19 Landscape: Power Distribution Component Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Power Distribution Component Market, By Product Type
8.1. Power Distribution Component Market, by Product Type, 2023-2032
8.1.1. Switchgear
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Switchboard
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Distribution panel
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Motor control panels
8.1.4.1. Market Revenue and Forecast (2020-2032)
8.1.5. Others
8.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Power Distribution Component Market, By Configuration Type
9.1. Power Distribution Component Market, by Configuration Type, 2023-2032
9.1.1. Fixed mounting
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Plug-in
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Withdrawable
9.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Power Distribution Component Market, By Insulation Type
10.1. Power Distribution Component Market, by Insulation Type, 2023-2032
10.1.1. Air
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Gas
10.1.2.1. Market Revenue and Forecast (2020-2032)
10.1.3. Oil
10.1.3.1. Market Revenue and Forecast (2020-2032)
10.1.4. Vacuum
10.1.4.1. Market Revenue and Forecast (2020-2032)
10.1.5. Others
10.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Power Distribution Component Market, By Installation Type
11.1. Power Distribution Component Market, by Installation Type, 2023-2032
11.1.1. Indoor
11.1.1.1. Market Revenue and Forecast (2020-2032)
11.1.2. Outdoor
11.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 12. Global Power Distribution Component Market, By Voltage Rating
12.1. Power Distribution Component Market, by Voltage Rating, 2023-2032
12.1.1. < 11 kV
12.1.1.1. Market Revenue and Forecast (2020-2032)
12.1.2. 11 kV to 33 kV
12.1.2.1. Market Revenue and Forecast (2020-2032)
12.1.3. > 33 kV to 66 kV
12.1.3.1. Market Revenue and Forecast (2020-2032)
12.1.4. > 66 kV to 132 kV
12.1.4.1. Market Revenue and Forecast (2020-2032)
Chapter 13. Global Power Distribution Component Market, By Application
13.1. Power Distribution Component Market, by Configuration Type, 2023-2032
13.1.1. Residential
13.1.1.1. Market Revenue and Forecast (2020-2032)
13.1.2. Commercial
13.1.2.1. Market Revenue and Forecast (2020-2032)
13.1.3. Industrial
13.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 14. Global Power Distribution Component Market, Regional Estimates and Trend Forecast
14.1. North America
14.1.1. Market Revenue and Forecast, by Product (2020-2032)
14.1.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.1.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.1.4. Market Revenue and Forecast, by Installation (2020-2032)
14.1.5. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.1.6. Market Revenue and Forecast, by Application (2020-2032)
14.1.7. U.S.
14.1.7.1. Market Revenue and Forecast, by Product (2020-2032)
14.1.7.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.1.7.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.1.7.4. Market Revenue and Forecast, by Installation (2020-2032)
14.1.8. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.1.8.1. Market Revenue and Forecast, by Application (2020-2032)
14.1.9. Rest of North America
14.1.9.1. Market Revenue and Forecast, by Product (2020-2032)
14.1.9.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.1.9.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.1.9.4. Market Revenue and Forecast, by Installation (2020-2032)
14.1.10. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.1.11. Market Revenue and Forecast, by Application (2020-2032)
14.1.11.1.
14.2. Europe
14.2.1. Market Revenue and Forecast, by Product (2020-2032)
14.2.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.2.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.2.4. Market Revenue and Forecast, by Installation (2020-2032)
14.2.5. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.2.6. Market Revenue and Forecast, by Application (2020-2032)
14.2.7.
14.2.8. UK
14.2.8.1. Market Revenue and Forecast, by Product (2020-2032)
14.2.8.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.2.8.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.2.9. Market Revenue and Forecast, by Installation (2020-2032)
14.2.10. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.2.10.1. Market Revenue and Forecast, by Application (2020-2032)
14.2.11. Germany
14.2.11.1. Market Revenue and Forecast, by Product (2020-2032)
14.2.11.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.2.11.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.2.12. Market Revenue and Forecast, by Installation (2020-2032)
14.2.13. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.2.14. Market Revenue and Forecast, by Application (2020-2032)
14.2.14.1.
14.2.15. France
14.2.15.1. Market Revenue and Forecast, by Product (2020-2032)
14.2.15.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.2.15.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.2.15.4. Market Revenue and Forecast, by Installation (2020-2032)
14.2.16. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.2.16.1. Market Revenue and Forecast, by Application (2020-2032)
14.2.17. Rest of Europe
14.2.17.1. Market Revenue and Forecast, by Product (2020-2032)
14.2.17.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.2.17.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.2.17.4. Market Revenue and Forecast, by Installation (2020-2032)
14.2.18. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.2.18.1. Market Revenue and Forecast, by Application (2020-2032)
14.3. APAC
14.3.1. Market Revenue and Forecast, by Product (2020-2032)
14.3.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.3.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.3.4. Market Revenue and Forecast, by Installation (2020-2032)
14.3.5. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.3.6. Market Revenue and Forecast, by Application (2020-2032)
14.3.7. India
14.3.7.1. Market Revenue and Forecast, by Product (2020-2032)
14.3.7.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.3.7.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.3.7.4. Market Revenue and Forecast, by Installation (2020-2032)
14.3.8. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.3.9. Market Revenue and Forecast, by Application (2020-2032)
14.3.10. China
14.3.10.1. Market Revenue and Forecast, by Product (2020-2032)
14.3.10.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.3.10.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.3.10.4. Market Revenue and Forecast, by Installation (2020-2032)
14.3.11. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.3.11.1. Market Revenue and Forecast, by Application (2020-2032)
14.3.12. Japan
14.3.12.1. Market Revenue and Forecast, by Product (2020-2032)
14.3.12.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.3.12.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.3.12.4. Market Revenue and Forecast, by Installation (2020-2032)
14.3.12.5. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.3.12.6. Market Revenue and Forecast, by Application (2020-2032)
14.3.13. Rest of APAC
14.3.13.1. Market Revenue and Forecast, by Product (2020-2032)
14.3.13.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.3.13.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.3.13.4. Market Revenue and Forecast, by Installation (2020-2032)
14.3.13.5. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.3.13.6. Market Revenue and Forecast, by Application (2020-2032)
14.4. MEA
14.4.1. Market Revenue and Forecast, by Product (2020-2032)
14.4.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.4.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.4.4. Market Revenue and Forecast, by Installation (2020-2032)
14.4.5. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.4.6. Market Revenue and Forecast, by Application (2020-2032)
14.4.7. GCC
14.4.7.1. Market Revenue and Forecast, by Product (2020-2032)
14.4.7.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.4.7.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.4.7.4. Market Revenue and Forecast, by Installation (2020-2032)
14.4.8. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.4.9. Market Revenue and Forecast, by Application (2020-2032)
14.4.10. North Africa
14.4.10.1. Market Revenue and Forecast, by Product (2020-2032)
14.4.10.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.4.10.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.4.10.4. Market Revenue and Forecast, by Installation (2020-2032)
14.4.11. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.4.12. Market Revenue and Forecast, by Application (2020-2032)
14.4.13. South Africa
14.4.13.1. Market Revenue and Forecast, by Product (2020-2032)
14.4.13.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.4.13.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.4.13.4. Market Revenue and Forecast, by Installation (2020-2032)
14.4.13.5. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.4.13.6. Market Revenue and Forecast, by Application (2020-2032)
14.4.14. Rest of MEA
14.4.14.1. Market Revenue and Forecast, by Product (2020-2032)
14.4.14.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.4.14.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.4.14.4. Market Revenue and Forecast, by Installation (2020-2032)
14.4.14.5. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.4.14.6. Market Revenue and Forecast, by Application (2020-2032)
14.5. Latin America
14.5.1. Market Revenue and Forecast, by Product (2020-2032)
14.5.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.5.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.5.4. Market Revenue and Forecast, by Installation (2020-2032)
14.5.5. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.5.6. Market Revenue and Forecast, by Application (2020-2032)
14.5.7. Brazil
14.5.7.1. Market Revenue and Forecast, by Product (2020-2032)
14.5.7.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.5.7.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.5.7.4. Market Revenue and Forecast, by Installation (2020-2032)
14.5.8. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.5.8.1. Market Revenue and Forecast, by Application (2020-2032)
14.5.9. Rest of LATAM
14.5.9.1. Market Revenue and Forecast, by Product (2020-2032)
14.5.9.2. Market Revenue and Forecast, by Configuration (2020-2032)
14.5.9.3. Market Revenue and Forecast, by Insulation (2020-2032)
14.5.9.4. Market Revenue and Forecast, by Installation (2020-2032)
14.5.9.5. Market Revenue and Forecast, by Voltage Rating (2020-2032)
14.5.9.6. Market Revenue and Forecast, by Application (2020-2032)
Chapter 15. Company Profiles
15.1. GE
15.1.1. Company Overview
15.1.2. Product Offerings
15.1.3. Financial Performance
15.1.4. Recent Initiatives
15.2. ABB
15.2.1. Company Overview
15.2.2. Product Offerings
15.2.3. Financial Performance
15.2.4. Recent Initiatives
15.3. Eaton
15.3.1. Company Overview
15.3.2. Product Offerings
15.3.3. Financial Performance
15.3.4. Recent Initiatives
15.4. Schneider
15.4.1. Company Overview
15.4.2. Product Offerings
15.4.3. Financial Performance
15.4.4. Recent Initiatives
15.5. Siemens
15.5.1. Company Overview
15.5.2. Product Offerings
15.5.3. Financial Performance
15.5.4. Recent Initiatives
15.6. Hitachi
15.6.1. Company Overview
15.6.2. Product Offerings
15.6.3. Financial Performance
15.6.4. Recent Initiatives
15.7. Powell
15.7.1. Company Overview
15.7.2. Product Offerings
15.7.3. Financial Performance
15.7.4. Recent Initiatives
15.8. Hubbell
15.8.1. Company Overview
15.8.2. Product Offerings
15.8.3. Financial Performance
15.8.4. Recent Initiatives
15.9. Fuji Electric
15.9.1. Company Overview
15.9.2. Product Offerings
15.9.3. Financial Performance
15.9.4. Recent Initiatives
15.10. L&T
15.10.1. Company Overview
15.10.2. Product Offerings
15.10.3. Financial Performance
15.10.4. Recent Initiatives
15.11. E+I Engineering
15.11.1. Company Overview
15.11.2. Product Offerings
15.11.3. Financial Performance
15.11.4. Recent Initiatives
15.12. Lucy Electric
15.12.1. Company Overview
15.12.2. Product Offerings
15.12.3. Financial Performance
15.12.4. Recent Initiatives
15.13. Al Hassan Engineering
15.13.1. Company Overview
15.13.2. Product Offerings
15.13.3. Financial Performance
15.13.4. Recent Initiatives
15.14. START
15.14.1. Company Overview
15.14.2. Product Offerings
15.14.3. Financial Performance
15.14.4. Recent Initiatives
15.15. Norelco
15.15.1. Company Overview
15.15.2. Product Offerings
15.15.3. Financial Performance
15.15.4. Recent Initiatives
Chapter 16. Research Methodology
16.1. Primary Research
16.2. Secondary Research
16.3. Assumptions
Chapter 17. Appendix
17.1. About Us
17.2. Glossary of Terms
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