Electric Control Panel Market Size & Share, by Type (Low Tension, Medium & High Tension); End-user (Aerospace & Defense, Chemical, Automotive, Food & Beverages, Power Generation, Oil & Gas, Pharmaceutical) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 3768
  • Published Date: Jun 13, 2024
  • Report Format: PDF, PPT

  1. An Outline of the Electric Control Panel Market
    1. Market Definition
    2. Market Segmentation
  1. Assumptions and Acronyms
  2. Research Methodology
    1. Research process
    2. Primary Research
    3. Secondary Research
    4. Market Size Estimation
  3. Summary of the Report for Key Decision Markers
  4. Forces of the Market Constituents
    1. Factors/Drivers Impacting the Growth of the Market
    2. Market Trends for Better Business Practices
  5. Key Market Opportunities for Business Growth
  6. Major Roadblocks for the Market Growth
  7. Government Regulation: How They Would Aid Business?
  8. Industry Risk Analysis
  9. Global Economic Outlook: Challenges for Global Recovery and Its Impact on Global Electric Control Panel
    1. Ukraine-Russia Crisis
    2. Potential US Economic Slowdown
  10. Impact of COVID-19 on Global Electric Control Panel Market
  11. Analysis on Recent Trends and Developments in the Global Electric Control Panel Market
    1. Improved Control Panel Efficiency and Safety
    2. Higher Quality Control Panel for Fabrication
    3. Evolving Control Panel Sizes
  12. Industry Pricing Benchmarking & Analysis
  13. Industry Growth Outlook
  14. Industry Supply Chain Analysis
  15. Product Feature Analysis
  16. End Use Usability Analysis
  17. Competitive Model: A Detailed Inside View for Investors
    1. Market Share Analysis, 2023
      1. Market Share Analysis of Major Players (%), 2023
      2. Market Share of Players by Size, 2023
    2. Competitive Benchmarking
    3. Competitive Positioning
      1. Schneider Electric
      2. ABB
      3. Siemens AG
      4. Paneltronics Inc.
      5. General Electric
      6. Rockwell Automation, Inc.
      7. Eaton
      8. IndustLabs
      9. Solution Control System, Inc.
      10. Keltour
  18. Global Electric Control Panel Market Outlook & Projections, Opportunity Assessment, 2023 to 2023
    1. Market Overview
    2. Market by Value (USD million)
    3. Market by Volume (Thousand Units)
  19. Global Electric Control Panel Market – Segmentation Analysis, 2023-2036
    1. By Type
      1. Low Tension, 2023-2036F (USD million & Thousand Units)
      2. Medium & High Tension, 2023-2036F (USD million & Thousand Units)
    2. By End-Use Industry
      1. Aerospace & Defense, 2023-2036F (USD million & Thousand Units)
      2. Chemical, 2023-2036F (USD million & Thousand Units)
      3. Automotive, 2023-2036F (USD million & Thousand Units)
      4. Food & Beverages, 2023-2036F (USD million & Thousand Units)
      5. Power Generation, 2023-2036F (USD million & Thousand Units)
      6. Oil & Gas, 2023-2036F (USD million & Thousand Units)
      7. Pharmaceutical, 2023-2036F (USD million & Thousand Units)
      8. Others, 2023-2036F (USD million & Thousand Units)
    3. By Region
      1. North America, 2023-2036F (USD million & Thousand Units)
      2. Latin America, 2023-2036F (USD million & Thousand Units)
      3. Europe, 2023-2036F (USD million & Thousand Units)
      4. Asia Pacific, 2023-2036F (USD million & Thousand Units)
      5. Middle East & Africa, 2023-2036F (USD million & Thousand Units)
  20. North America Electric Control Panel Market Outlook
    1. Market Overview
    2. Market by Value (USD million)
    3. Market by Volume (Thousand Units)
      1. By Type
      2. By End-Use Industry
      3. By Country
        1. US, 2023-2036F (USD million & Thousand Units)
        2. Canada, 2023-2036F (USD million & Thousand Units)
  21. Europe Electric Control Panel Market Outlook
    1. Market Overview
    2. Market by Value (USD million)
    3. Market by Volume (Thousand Units)
      1. By Type
      2. By End-use Industry
      3. By Country
        1. UK, 2023-2036F (USD million & Thousand Units)
        2. Germany, 2023-2036F (USD million & Thousand Units)
        3. France, 2023-2036F (USD million & Thousand Units)
        4. Italy, 2023-2036F (USD million & Thousand Units)
        5. Spain, 2023-2036F (USD million & Thousand Units)
        6. Russia, 2023-2036F (USD million & Thousand Units)
        7. Netherlands, 2023-2036F (USD million & Thousand Units)
        8. Rest of Europe, 2023-2036F (USD million & Thousand Units)
  22. Asia Pacific Electric Control Panel Market Outlook
    1. Market Overview
    2. Market by Value (USD million)
    3. Market by Volume (Thousand Unit)
      1. By Type
      2. By End-Use Industry
      3. By Country
        1. China, 2023-2036F (USD million & Thousand Units)
        2. India, 2023-2036F (USD million & Thousand Units)
        3. Japan, 2023-2036F (USD million & Thousand Units)
        4. South Korea, 2023-2036F (USD million & Thousand Units)
        5. Singapore, 2023-2036F (USD million & Thousand Units)
        6. Australia, 2023-2036F (USD million & Thousand Units)
        7. Rest of Asia Pacific, 2023-2036F (USD million & Thousand Units)
  23. Latin America Electric Control Panel Market Outlook
    1. Market Overview
    2. Market by Value (USD million)
    3. Market by Volume (Thousand Unit)
      1. By Type
      2. By End-Use Industry
      3. By Country
        1. Brazil, 2023-2036F (USD million & Thousand Units)
        2. Argentina, 2023-2036F (USD million & Thousand Units)
        3. Mexico, 2023-2036F (USD million & Thousand Units)
        4. Rest of Latin America, 2023-2036F (USD million & Thousand Units)
  24. Middle East & Africa Electric Control Panel Market Outlook
    1. Market Overview
    2. Market by Value (USD million)
    3. Market by Volume (Thousand Unit)
      1. By Type
      2. By End-Use Industry
      3. By Country
        1. GCC, 2023-2036F (USD million & Thousand Units)
        2. Israel, 2023-2036F (USD million & Thousand Units)
        3. South Africa, 2023-2036F (USD million & Thousand Units)
        4. Rest of Middle East and Africa, 2023-2036F (USD million & Thousand Units)
  25. Primary Interview Analysis

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Electric Control Panel Market size was valued at USD 6.31 Billion in 2023 and is likely to reach USD 13.73 Billion by the end of 2036, registering around 6.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of electric control panel is assessed at USD 6.64 Billion. The growth of the market can be attributed to the higher utilization of electric machines in the industry for higher production and industrial automation. The electric control unit has a series of actuators that are embodied in electric machines to modulate its operation. Globally, major buildings, industries, and infrastructure collectively employ more than 300 million electric motors. Each year, around 30 million motors are sold exclusively for industrial use.

In addition to these, factors that are believed to fuel the growth of the electric control panel market include the increased demand for electric vehicles (EV) which in turn has increased the investment in EV sector. The electric control unit in the car is sued to control various electrical systems of that vehicle. Automakers plan to invest roughly USD 1 trillion by 2030 with the goal of producing almost 54 million electric vehicles over the next few years. Moreover, in 2021, electric vehicles will account for almost 65% of all investments made in the transportation sector.  In addition, the market growth is also anticipated to grow owing to propelled demand and consumption of electricity. As per the report of the International Energy Agency, the electricity demand rose by 5% in 2021, and nearly half of the demand is sufficed by the use of fossil fuels.


Electric-Control-Panel-Market
Get more information on this report: Request Free Sample PDF

Electric Control Panel Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Demand for Electric Machinery
  • The demand for electrical machinery is being driven by the rise of the industry, which is one of the major consumers of electricity. Electrical Machinery Trade accounts for approximately 0.32% of World Trade. With USD 53 billion in global trade in 2020, Other Electrical Machinery ranked as the 60th most traded well globally. The exports of Other Electrical Machinery were around USD 53 billion in the year 2020.
  • Rising Adoption of Automation Across Industries
  • With the transformation of the industry to industry 4.0, automation has become more prevalent. In this case, ECU is used to control the motors and read data from sensors. In 2020, there were around three million multipurpose industrial robots in operation worldwide.
  • Rising Output from the Manufacturing Industry
  • According to the UNIDO World Manufacturing report, production has shown a noteworthy rise of 4.3% in emerging and developing industrial economies. The Quarterly Report showed a comeback of the manufacturing industry in the fourth-quarter of 2021 with an increase of 3.3% over the same period last year.
  • Increasing Utilization of Power
  • Th primary use of the electric control unit is to manage the power distribution. Therefore, the growing demand for power is to propel the market growth. In the first half of 2022, the world’s power demand climbed by around 390 terawatt-hours, or approximately 3%, while electricity production from wind, solar, and hydro increased by 416 terawatt-hours, or nearly 12%, just keeping up with the growth in demand.
  • Massive Rise in the Electric Vehicle’s Demand
  • Electric vehicle has their own electric control unit that manages the operation of electric vehicles. According to the World Economic Forum, there must be almost 2 billion electric vehicles on the road by 2050 for the world to reach net zero, and the sales of EV were totaled to 6.6 million in 2021.

Challenges

  • Risk of Having an Electricity Hazard- Electric hazard may result from electrical control panel due to a number of issues, such as faulty or damaged wiring or equipment, irregular connections, using fittings of inadequate quality lack of grounding, bonding, and earthen. Using a faulty fuse or jumper working with live apparatus overloading of electrical outlets and machinery is also responsible for electrical mishap such as, electric shock, heating of ignitions, and another mechanical hazard.
  • The Electric Control Panel Requires Regular Maintenance
  • Lack of Trained Operator

Electric Control Panel Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

6.7%

Base Year Market Size (2023)

USD 6.31 Billion

Forecast Year Market Size (2033)

USD 13.73 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
Get more information on this report: Request Free Sample PDF

Electric Control Panel Segmentation

The global electric control panel market is segmented and analyzed for demand and supply by end user into aerospace, chemical, automotive, food & beverages, power generation, oil & gas, pharmaceutical, and others. Out of the eight types of end users, the oil & gas segment is estimated to gain the largest market size of USD 3,338 million by the end of 2036 by growing at a CAGR of 7.4% over the projected time frame. Moreover, the segment garnered a revenue of USD 1,537.3 million in 2022. The growth of the segment can be attributed to the growing demand for oil and gas, followed by a rise in the worldwide economy. According to the Organization of the Petroleum Exporting Countries, between now and 2045, it is anticipated that the global economy is likely to more than quadruple in size and the world's population would increase by 1.6 billion. The demand for primary energy is likely to continue to rise over the medium and long term, rising by a sizable 23% between now and 2045. Up to 2045, the globe must add an average of 2.7 million barrels of oil equivalent every year.

The global electric control panel market is also segmented and analyzed for demand and supply by type into low tension and medium & high tension. Amongst these two segments, the medium & high-tension segment is expected to garner a significant share. Moreover, it is forecasted to grow at a CAGR of 6.6% over the forecast period. Medium tension is used to power different electrical devices both indoors and outdoors. On the other hand, high tension is used to power the manufacturing of semiconductors and power substation. Furthermore, rising investment in the semiconductors industry and a higher number of manufacturers of semiconductors is to boost the segment growth. For instance, the government of China has planned to invest more than USD 150 billion in semiconductors between the years 2014 to 2030. Furthermore, in China, there were more than 22,800 companies that manufacture semiconductors in 2020.

Our in-depth analysis of the global electric control panel market includes the following segments:

              By Type

  • Low Tensionand
  • Medium & High Tension

              By End User

  • Aerospace
  • Chemical
  • Automotive
  • Food & Beverages
  • Power Generation
  • Oil & Gas
  • Pharmaceutical
  • Others

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

Electric Control Panel Industry - Regional Synopsis

Europe Market Forecast

The Europe electric control panel market, amongst the market in all the other regions, is projected to cross USD 4.17 Billion by 2036. The growth of the market can be attributed majorly to the surging demand for electricity and the higher sales of electric vehicles. Nearly 1,730,000 electric vehicle registrations were made during the year, up from 1,061,000 in 2020. In only a single year, this reflects an increase in the share of all new car registrations from 11% to 17%. Electric van adoption also grew, rising from around 2% of all new registrations in 2020 to nearly 3% in 2021. Furthermore, the rising consumption of power is also expected to augment the market growth in Europe. For instance, Germany consumed more than 560 terawatt-hours of electricity in 2021, making it the greatest electricity consumer in the European Union (EU). With a demand of over 504 terawatt-hours, France stood in second place.

Get more information on this report: Request Free Sample PDF

Companies Dominating the Electric Control Panel Landscape

    • Schneider Electric
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • ABB
    • Siemens AG
    • Paneltronics Inc.
    • General Electric
    • Rockwell Automation, Inc.
    • Eaton
    • IndustLabs
    • Solution Control System, Inc.
    • Keltour

In the News

  •  Rockwell Automation, Inc. announced the acquisition of Cubic, a lead producer of modular systems for building electric panels. With the help of this acquisition, customers will be benefitted from the production of smart data that in turn will boost sustainability and productivity and the merger is likely to offer more plant-wide applications for smart motor control.

  • ABB launched a mobile charger for Formula E Season 9. Before the race, each charger may simultaneously charge two vehicles with 80kW of power at a maximum output of 160kW per charger. This enables racing teams to take use of a "double charging" capability from a single unit.

Author Credits:  Abhishek Verma


  • Report ID: 3768
  • Published Date: Jun 13, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of electric control panel is assessed at USD 6.64 Billion.

The electric control panel market size was valued at USD 6.31 Billion in 2023 and is likely to reach USD 13.73 Billion by the end of 2036, registering around 6.1% CAGR during the forecast period i.e., between 2024-2036. Increasing demand of electricity, power, rise in the use of electricity machines by industry and higher deployment of electric vehicle are the few factors is to boost the market growth.

Europe industry revenue is projected to cross USD 4.17 Billion by 2036, propelled by surging demand for electricity and the higher sales of electric vehicles.

Schneider Electric, ABB, Siemens AG, Paneltronics Inc., General Electric, Rockwell Automation, Inc., Eaton, IndustLabs, Solution Control System, Inc., Keltour
Electric Control Panel Market Report Scope
logo
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying
Inquiry Before Buying Request Free Sample