Electric Control Panel Market Trends

  • 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

Electric Control Panel Market Trends

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)
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Browse Key Market Insights with Data Illustration:


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
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