The global power distribution component market is projected to gain impetus during the forthcoming period from the increasing demand for high operational performance. Fortune Business Insights, in an upcoming report, titled, “Power Distribution Component Market Size, Share and Global Trend By Product (Switchgear, Switchboard, Distribution Panel, Motor control Panel, Others), By Configuration (Fixed Mounting, Plug-in, Withdrawable Unit), By Insulation (Air, Gas, Oil, Vacuum, Others), By Installation (Indoor, Outdoor) By Application (Residential, Commercial, Industrial, Utility) and Geography Forecast till 2026,” states that expansion of low-voltage distribution networks across commercial and residential establishments, as well as increasing inclination of consumers towards cost-effective configurations, are expected to propel the market growth.
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The report presents elaborate information regarding numerous aspects of the power distribution component market, such as, key market developments, growth drivers, hindrances, key players, and challenges. It further provides highly accurate market value, volume, and size. Moreover, it offers detailed data about the leading segments as well as the competitive landscape.
Fortune Business Insights profiles some of the prominent companies operating in the global power distribution component market. They are as follows:
- E+I Engineering
- START Electronics
- Al Hassan Engineering
- Mitsubishi Electric
- Fuji Electric
- Lucy Electric
- Crompton Greaves
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Rapid Upgradation of Aging Transmission & Distribution Networks to Drive Market
Ongoing development of already existing electrical infrastructure and a rise in the demand for coherent distribution and transmission control systems are two of the most significant power distribution component market trends that would aid in the growth of industrial landscape. Furthermore, persistent investment in the up gradation of old transmission and distribution systems, as well as the increasing establishment of smart grid technology, would upsurge the market. Besides, increasing urbanization and industrialization are projected to contribute to growth.
Asia Pacific to Lead Owing to Upgradation of Distribution Networks
Geographically, the power distribution component market is divided into the Middle East and Africa, North America, Latin America, Asia Pacific, and Europe. Amongst these, North America is anticipated to grow at a fast face in the coming years due to its grid modernization and capacity enhancement. Europe, on the other hand, is exhibiting a rise in the application of power distribution components in the development of sustainable and effective power grid infrastructure. Hence, the region would grow steadily.
Asia Pacific is expected to remain dominant during the forecast period. It would mainly occur due to the active participation of emerging economies, such as India and China. These countries are upgrading, refurbishing, and installing new distribution networks as well as transmission lines to speed up their infrastructural development. Also, increasing security of supply concerns, grid stability, expansion of micro-grid networks, and demand for peak load would contribute to the power distribution market growth in this region.
In the Middle East and Latin America, stringent government rules towards integration and electrification of decentralized micro-grid systems across isolated areas are projected to increase the power distribution component market size in this region. Combined with this, increasing integration rate of sustainable energy infrastructure and rising demand for electricity would also impact the market positively in both regions.
Fuji Electric Acquires Chennai-based Consul Neowatt Power Solutions
Fuji Electric, a motor and generator manufacturing company, headquartered in Japan, announced that it has successfully acquired Consul Neowatt Power Solutions, a leading manufacturer of power backup, based in Chennai in June 2019. Fuji declared that the deal is worth USD 100 Million. As India is showcasing economic growth and is broadening infrastructure construction at present, there is an urgent need to improve and upgrade the power quality for uninterrupted operations. Fuji would focus on the optimization of energy usage and improving the power quality. It would do so by blending its energy management systems with Consul Neowatt’s UPS solutions. Fuji would also propose similar solutions for building, data centers, factories, and social infrastructure that often require energy-efficient power supply.
- Key Market Driver – Growing demand for efficient transmission and distribution control systems
- Key Market Restraint – High installation cost and space restraint
1. By Product
- Distribution Panel
- Motor control Panel
2. By Configuration
- Fixed Mounting
- Withdrawable Unit
3. By Insulation
4. By Installation
5. By Application
- By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
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Key Industry Developments
- In Jun 2019, Japan’s Fuji Electric Co., Ltd. announced its acquisition of Consul Neowatt Power Solutions Pvt Ltd (CNPS), manufacturer of uninterruptible power supply (UPS) systems. The acquisition is done by private equity investor Peepul Capital, which owned the company through its third fund, and other individual shareholders.
- In Jul 2018, ABB announced its acquisition of GE Industrial Solutions in $2.6 billion. The acquisition offers value creation and growth opportunities.
- In March 2019, Siemens announced its acquisition of Massachusetts-based Russelectric, a leading U.S. manufacturer of power control systems including paralleling switchgear, automatic transfer switches, and other power control systems for electric infrastructure.
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