Press release
North America & Europe Power Distribution Component Market Analysis On Future Development 2030
Transparency Market Research delivers key insights on theย power distribution component marketย in North America and Europe. In terms of revenue, the power distribution component market in North America and Europe is estimated to expand at a CAGR ofย ~6%ย 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 North America and Europe.
The power distribution component market in North America and Europe is broadly affected by several factors, including increase in construction & infrastructure activities in these regions. Furthermore, rise in urbanization and industrialization is the key factor that is anticipated to propel the power distribution component market in North America and Europe.
๐๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ: https://www.transparencymarketresearch.com/north-america-and-europe-power-distribution-component-market.html
North America & Europe Power Distribution Component Market: Dynamics
In developed countries, aging energy generation and distribution infrastructure is one of the biggest challenges. It has a significant impact on the energy generation and distribution infrastructure to provide a reliable, cost effective, and future proof provision for end users. The demand for smart power distribution components is directly linked with the adoption of the smart grid technology. The implementation of smart grid technologies requires the integration of energy efficient solutions such as smart panel that can distribute electricity effectively. Hence, the adoption of smart grids is expected to create opportunities for the power distribution component market in North America and Europe in the near future. This is estimated to boost the power distribution component market in North America and Europe during the forecast period.
The adoption of smart grid has boosted the demand for smart power distribution components such as smart panels and sockets. Smart panels are simple Ethernet-connected solutions for managing power distribution in residential and commercial applications. They give electrical equipment the ability to directly communicate and provide data directly on computer or smart device. This helps one to easily keep track of a building's electrical system status. Furthermore, smart sockets have been proven to be effective in reducing energy bills. They add convenience to any appliance and keep unused appliances turned off, thus lowering standby consumption.ย The installation of smart power distribution components can help in efficient use of power, and thus reduce unnecessary wastage.
๐๐ฆ๐ฆ๐๐๐ข๐๐ญ๐ ๐๐๐ฅ๐ข๐ฏ๐๐ซ๐ฒ ๐๐ฏ๐๐ข๐ฅ๐๐๐ฅ๐ | ๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ - https://www.transparencymarketresearch.com/checkout.php?rep_id=81837<ype=S
North America & Europe Power Distribution Component Market: Prominent Regions
Europe dominated the power distribution component market in North America and Europe inย 2019. The power distribution component market in the region is estimated to expand at a rapid pace betweenย 2020ย andย 2030, due to the rise in urbanization in the region. Germany is anticipated to be highly attractive country of the power distribution component market in Europe during the forecast period. The housing sector in Germany is witnessing strong growth, owing to rise in income of the people, low interest rates, and high level of migration. Aroundย 3.6ย million migrants are estimated to arrive in Germany by the end ofย 2020. The demand for new dwellings in the country stands at 350,000 per year.
North America is likely to be a highly attractive region of the power distribution component market in North America and Europe during the forecast period. The U.S. held major share of the power distribution component market in North America inย 2019. Investments in renewable technologies and the construction sector have increased in the U.S. The California Energy Commission (CEC) has installation of solar power generation equipment in all new buildings mandatory. Under the regulation, all new residential construction is projected to be net zero energy byย 2020; and all new commercial buildings are likely to be net zero energy byย 2030.
๐๐๐ญ ๐๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ซ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ง๐ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐ง๐ญ๐๐ฅ๐ฅ๐ข๐ ๐๐ง๐๐: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=81837
North America & Europe Power Distribution Component Market: Leading Players
Major players operating in the power distribution component market in North America and Europe are ABB Ltd, Lucy Electric, Siemens, Eaton, Norelco, Schneider Electric SE, Larsen & Toubro Limited, Hyundai Electric & Energy Systems Co. Ltd., Fuji Electric Co. Ltd., Mitsubishi Electric Corporation, Crompton Greaves Consumer Electricals Ltd., and GENERAL ELECTRIC.
North America & Europe Power Distribution Component Market: Segmentation
๐๐ฅ๐ข๐๐ค ๐ ๐จ๐ซ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=81837
North America & Europe Power Distribution Component Market, by Type
Panel
Distribution Panel
Motor Control Panel
Others (including Lighting Control Panel)
Socket
Plug Socket
Wall Socket
North America & Europe Power Distribution Component Market, by Application
Residential
Commercial
๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
Europe Energy Management Systems Market - https://www.digitaljournal.com/pr/europe-energy-management-systems-market-growth-and-analysis-by-2031
China Biostimulants Market - https://www.digitaljournal.com/pr/china-biostimulants-market-latest-trends-with-future-insights-by-2031
About Us 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.
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