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 2027,” 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.
Request a Sample Copy of the Global Market Research Report https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/power-distribution-component-market-100962
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
For more information in the analysis of this report https://www.fortunebusinessinsights.com/industry-reports/power-distribution-component-market-100962
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.
- 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)
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 D2.6 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.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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