Power Pedestal Market Trends

Growth Drivers

• High Demand for Power Pedestals in Homes - It is projected that power pedestal market expansion will be fueled by the need for electrical pedestals in residences, workplaces, and educational institutions; installing the splitting device at the pedestal has advantageous economic benefits. Consequently, the pedestal electronics are powered by the nearest uninterruptible power sources. You will use fewer resources if you use power pedestals. Customers are becoming more aware of electricity pedestals, which is driving power pedestal market growth.
• High Demand in Emerging Economies - It is projected that over the coming years, growing economies and increased investment from countries like China, Japan, and India will propel the global pedestal market. This is mostly due to the growing infrastructure in these areas, which would lead to a rise in power pedestal installations and drive the growth of the market during the period between 2024 - 2036.
• Upgradation of EV Charging Station - The market for power pedestals worldwide will have greater prospects in the areas of microgrids and off-grid solutions. Self-contained power systems enable seamless incorporation of power generation, storage, and distribution inside a designated region, such as a town, university, or hospital. The microgrid can also be used as an electric vehicle charging station, to support essential infrastructure during grid outages, and to power lights by including power pedestals into it.
• An additional element that is anticipated to boost power pedestal market expansion is the installation of power pedestals in the EV charging infrastructure. The demand for specialized EV charging pedestals that can provide quick and effective charging for electric vehicles is rising in areas including parking lots, public areas, and residential buildings. Twenty million public EV charging stations are predicted to be connected to the grid by 2030, and new projections indicate that residential charging stations will increase dramatically to keep up with demand.

Challenges

• Presence of Electrical Distribution System – Two of the factors limiting the worldwide power potential market are the availability of power pedestal alternatives and the growing significance of electrical distribution networks. The electrical distribution networks ensure that consumers receive power dependably generated from renewable sources. The focus of the globe is moving toward renewable energy sources like solar and wind power, which require dependable and efficient infrastructure. Also, several countries are investing in modernizing their outdated power networks to boost efficiency, reduce losses, and fulfill the growing electricity demand. Modernization, which usually focuses on smart grids with advanced automation and monitoring features, is where EDS comes into play. Integration with Existing Infrastructure is Set to Hinder the Power Pedestal Market Growth in the Forecast Period
• Competition from Alternative Technologies is Predicted to Pose Limitations on the Market Growth in the Upcoming Period.