Press release
Current Market Scenario of Power Distribution Component Market. Top Players in Power Distribution Component Market are Eaton, Schneider, ABB, L&T, Siemens, Powell, Hitachi, E+I Engineering, START Electronics, Al Hassan Engineering, Skema, Hubbell, Norelco
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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:
Eaton
Schneider
ABB
L&T
Siemens
Powell
Hitachi
E+I Engineering
START Electronics
Al Hassan Engineering
Skema
Hubbell
Norelco
Rittal
Mitsubishi Electric
Fuji Electric
Hyundai
Lucy Electric
Crompton Greaves
Hyosung
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.
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.
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Key Market Driver - Growing demand for efficient transmission and distribution control systems
Key Market Restraint - High installation cost and space restraint
Segmentation
1. By Product
Switchgear
Switchboard
Distribution Panel
Motor control Panel
Others
2. By Configuration
Fixed Mounting
Plug-in
Withdrawable Unit
3. By Insulation
Air
Gas
Oil
Vacuum
Others
4. By Installation
Indoor
Outdoor
5. By Application
Residential
Commercial
Industrial
Utility
6. 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 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.
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