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Power Distribution Component Market Share

Report ID: GMI3091
Published Date: Nov 2024
Report Format: PDF

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Power Distribution Component Market Share

Global Power Distribution Component Company Market Share Analysis, 2024

ABB is a leading player in the power distribution component industry, known for its broad range of electrical equipment that includes both standard and customized designs. With a strong, established presence in the electrical equipment sector, ABB consistently delivers tailored bushing solutions to address varied application requirements.

Power Distribution Component Market Companies

Major key players operating across the power distribution component industry are:

ABB
Eaton
Fuji Electric
General Electric
Hitachi Energy
Hubbell
Hyosung Heavy Industries
Hyundai Electric
L&T Electrical
Lucy Group
Mitsubishi Electric
Norelco
Powell Industries
Rittal
Schneider Electric
Siemens
START Electrical

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The global market for power distribution component was reached USD 287.7 billion in 2024 and is projected to grow at a 7.6% CAGR from 2025 to 2034, driven by the rise of wind and solar power.

The switchgear segment is expected to surpass USD 274.6 billion by 2034, due to the rapid deployment of distributed energy resources (DERs) like solar, wind, and battery storage.

The utility segment is anticipated to expand at a CAGR exceeding 6.7% through 2034, as utility-scale distribution components must handle fluctuating energy inputs and bi-directional power flows.

The U.S. power distribution component market is predicted to reach USD 71.8 billion by 2034, led by substantial investments in modernizing the aging power grid infrastructure.

Key players in the industry include ABB, Eaton, Fuji Electric, General Electric, Hitachi Energy, Hubbell, Hyosung Heavy Industries, Hyundai Electric, L&T Electrical, Lucy Group, Mitsubishi Electric, Norelco, Powell Industries, Rittal, Schneider Electric, Siemens, and START Electrical.