Fixed Mounting Power Distribution Component Market Segmentation:
Product (Switchgear, Switchboards, Distribution Panels, Motor Control Panels, Others)
Switchgear segment is projected to account for more than 39.4% fixed mounting power distribution component market share by the end of 2035 owing to its major role in power distribution. These advanced switchgear technologies manage the voltage flow and act effectively in sudden power cuts, resulting in safer and more reliable power transmission. The demand for fixed mounting power distribution switchgear systems is anticipated to reach a valuation of USD 172.7 billion by 2035. For instance, in February 2024, Schneider Electric announced the launch of its new SureSet MedimVoltage switchgear in Canada. The compact design, greater uptime, and durability are some of its latest features that are expected to boost its sales growth.
Application (Residential, Commercial, Industrial, Utility)
By the end of 2035, commercial segment is estimated to hold over 38.5% fixed mounting power distribution component market share. The rise in commercial infrastructure development projects such as skyscrapers, advanced healthcare facilities, shopping malls, hotels, office buildings, and sports facilities is fuelling high demand for advanced fixed mounting power distribution components for efficient glow of energy.
Our in-depth analysis of the fixed mounting power distribution component market includes the following segments:
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