Fixed Mounting Power Distribution Component Market Size - By Product (Switchgear, Switchboard, Distribution Panel, Motor Control Panels), By Voltage Rating, By Application & Forecast 2024 – 2032

Fixed Mounting Power Distribution Component Market Size

Fixed Mounting Power Distribution Component Market size was valued at USD 147.1 billion in 2023 and is poised to grow at a CAGR of 7.7% between 2024 and 2032. The disparity in electric infrastructure between developing and developed economies has fostered a promising business landscape. Major industry players are prioritizing product innovations, notably digitalization and smart grid integration to boost operational efficiency and cater to changing consumer demands.
 

For instance, in October 2023, Delixi unveiled its newest range of air-insulated switchgear, aimed at bolstering both power distribution efficiency and safety. Additionally, the industry's heightened focus on safety and reliability is spurring the uptake of cutting-edge air-insulated components.
 

Fixed Mounting Power Distribution Component Market Trends

Smart grid technologies and the integration of renewable energy sources are set to drive the deployment of related products in the coming years. Simultaneously, the demand for efficient power distribution is propelling the adoption of advanced power distribution components. Strategic collaborations within the industry are not only bolstering market positions but also addressing the escalating demand for sophisticated power distribution solutions.
 

For instance, in April 2024, Empower Semiconductor inked an agreement deal with Dimac Red Spa to bolster Empower's foothold in Europe and enhance accessibility to its IVR and ECAP products. Furthermore, the evolution of product portfolios, alongside a trend of major industry players pursuing mergers and acquisitions, is poised to be a driving force behind the sector's growth.
 

Fixed Mounting Power Distribution Component Market Analysis

The market is categorized into switchboard, distribution panel, motor control panels, and another component based on product. Switchgear holds the largest market share and is expected to surpass USD 117 billion by 2032. Advanced switchgear solutions play a pivotal role in managing voltage levels and reducing power losses, thus ensuring safe and efficient electricity transmission. The rising need for a dependable power supply, alongside the overhaul of aging electrical systems, further fuels the demand for these technologies.
 

Based on application, the fixed mounting power distribution component market is divided into residential, commercial, industrial, & utility. The commercial industry is projected to witness a robust CAGR of over 8% until 2032. This growth is primarily driven by the increasing adoption of electrical power distribution components in diverse facilities like office buildings, shopping malls, and hospitals. Given the critical nature of their operations, these sectors demand efficient and dependable power distribution components. These components play a pivotal role in maintaining uninterrupted electricity supply for lighting, HVAC systems, and other essential equipment.
 

The Asia Pacific region is estimated to surpass over USD 134 billion by 2032, strengthened by rapid industrialization, urbanization, and infrastructural developments across emerging economies in region. As countries prioritize sustainable energy infrastructure and energy efficiency, adoption of air insulated components is accelerated by regulatory compliance and need to serve a large, growing population.
 

The U.S. fixed mounting power distribution component market is experiencing growth driven by increasing infrastructure development, technological advancements, and a focus on renewable energy integration, with key players investing in innovative solutions to meet evolving energy efficiency and reliability standards.
 

Fixed Mounting Power Distribution Component Market Share

Key market players, including ABB, Siemens, Schneider Electric, Eaton Corporation, and General Electric, are leading manufacturers of fixed mounting power distribution equipment. Their dominance is attributed to factors like strong brand reputation, technological innovations, reliability, and high customer satisfaction, cementing their status as preferred suppliers in the sector.
 

Fixed Mounting Power Distribution Component Market Companies

Some of the key market players operating across the fixed mounting power distribution component industry are:

• ABB
• ALSTOM SA
• CG Power & Industrial Solutions Ltd.
• Eaton
• GE Grid Solutions
• G&W Electric
• Hitachi Energy
• Lucy Group Ltd.
• L&T Electrical & Automation
• Meiden Europe GmbH
• Ormazabal
• Powell Industries
• Schneider Electric
• Siemens
• Toshiba Energy Systems & Solutions Corporation
   

Fixed Mounting Power Distribution Component Industry News

• In September 2023, ABB recently unveiled its latest innovation, the 500 mm panel version of UniGear ZS1, an air-insulated medium-voltage switchgear technology, at ADIPEC 2023. This new product launch reflects ABB's commitment to providing smart, safe, reliable, and sustainable solutions for energy management and asset health management.
   
• In January 2023, Eaton partnered with AMP to upgrade the power distribution system for the Xeni Gwet'in First Nations. AMP Energy collaborated with the community & federal funding sources for clean energy projects & indigenous communities to finance this project. The two companies are developing a microgrid power system designed to significantly reduce the community’s reliance on diesel generators.
   

The fixed mounting power distribution component market research report includes an in–depth coverage of the industry with estimates & forecast in terms of volume in ‘000 units and revenue in USD Billion from 2021 to 2032, for the following segments:

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Market, By Product

• Switchgear
• Switchboard
• Distribution Panel
• Motor Control Panels

Market, By Voltage Rating

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

Market, By Application

• Residential
• Commercial
• Industrial
• Utility

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Spain
  • Italy
  • UK
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Nigeria
• Latin America
  • Brazil
  • Argentina
  • Peru