Press release
Power Distribution Component Market Overview And Regional Outlook Study 2030
Transparency Market Research delivers key insights on the power distribution component market in Asia and Australia. In terms of revenue, the power distribution component market in Asia is estimated to expand at a CAGR of ~6%, while the power distribution component market in Australia is estimated to expand at a CAGR of 5.5% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the power distribution component market in Asia and Australia.
The power distribution component market in Asia and Australia market is broadly affected by several factors, including government initiatives to promote construction and infrastructure industries, and development of energy efficient solutions. Furthermore, the implementation of smart grids to modernize the grid system is a key factor that is anticipated to propel the power distribution component market in Asia and Australia.
𝐆𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.transparencymarketresearch.com/power-distribution-component-market.html
Asia and Australia Power Distribution Component Market: Dynamics
Power distribution components primarily include plugs and sockets. These are known for their safety features in residential and commercial applications. Panels provide safe and secure supply of electricity to electronic appliances, while sockets reduce the risk of electric shocks, as they have shutters that prevent the entry of foreign objects.
Plugs and sockets also have a long lifespan, making them the optimal choice over conventional connecting cables and bare wires. Residential and commercial plugs and sockets have an approximate lifespan of more than 15 years. This makes them one of the highly durable equipment in electrical settings. The installation of residential and commercial plugs and sockets is carried out by skilled professionals, while their day-to-day operation can be performed by anyone who may or may not be skilled. Thus, ease of operation as compared to bare wires and cables, long lifespan, and no associated training costs are anticipated to boost the demand for power distribution components in residential and commercial applications.
𝐆𝐞𝐭 𝐏𝐃𝐅 𝐬𝐚𝐦𝐩𝐥𝐞 𝐟𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=64104
Asia and Australia Power Distribution Component Market: Prominent Countries
China held a prominent share of the power distribution component market in Asia and Australia in 2019. Rapid industrialization and urbanization have resulted in high demand for electricity and electrification in China. This is a key factor propelling the power distribution component market in the country. This trend is expected to continue during the forecast period. Thus, China is projected to dominate the power distribution component market during the forecast period.
The power distribution component market in ASEAN is projected to expand considerably during the forecast period, due to the rise in investment in the construction industry. According to IMF, the economy of countries in ASEAN is expanding at an average of 5% per year, a level that continues to outperform the global rates. Their combined GDP reached US$ 2.7 Trn in 2017. It is projected to reach US$ 4.1 Trn by 2022. Furthermore, rise in inflow of the FDI in these countries is expected to propel the demand for housing and commercial projects. This increase in demand for residential and commercial projects is expected to boost the demand of power distribution components in the region.
The power distribution component market in India is projected to expand at a rapid pace during the forecast period. The Government of India is taking initiatives to promote the development of the construction industry by implementing various programs such as smart cities. It is also providing affordable housing for the lower middle class population. These is anticipated to boost the demand for electricity and electrification in the country. In turn, this is projected to augment the demand for power distribution components during the forecast period.
𝐆𝐞𝐭 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐛𝐮𝐲𝐢𝐧𝐠: https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=64104
Asia and Australia Power Distribution Component Market: Key Players
Major players operating in the power distribution component market in Asia and Australia market are ABB, Siemens, Eaton, Schneider Electric, Mitsubishi Electric, Hyundai Electric & Energy Systems Co. Ltd., Fuji Electric Co, L&T, CSE Solutions Pvt. Ltd, and Chubu Electric Power Co., Inc.
Asia and Australia Power Distribution Component Market: Segmentation
Asia and Australia Power Distribution Component Market, by Type
Panel
Distribution Panel
Motor Control Panel
Others (including Lighting Control Panel)
Socket
Plug Socket
Wall Socket
Asia and Australia Power Distribution Component Market, by Application
Residential
Commercial
𝐂𝐥𝐢𝐜𝐤 𝐅𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=64104
Asia and Australia Power Distribution Component Market, by Region
Asia
China
India
Japan
ASEAN
Rest of Asia
Australia
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𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
𝐍𝐢𝐤𝐡𝐢𝐥 𝐒𝐚𝐰𝐥𝐚𝐧𝐢
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
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Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
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Email: sales@transparencymarketresearch.com
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