Electric Control Panel Market By Type (Power and Distribution, Automation and Instrumentation, Power and Control, DG Control), By Voltage (Medium, High, Low), By Application (Manufacturing and Industrial Automation, Commercial, Power Generation, Residential, Agriculture, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global electric control panel market was valued at $6.0 billion in 2022, and is projected to reach $10.3 billion by 2032, growing at a CAGR of 5.8% from 2023 to 2032.
An electric control panel is an enclosure, typically a metal box or plastic molding, which contains important electrical components to control and monitor several mechanical processes. The structure of the electrical control panel is designed to hold maximum electric equipment within its boundaries by keeping all running systems safe. Electric control panels hold several electrical components such as circuit breakers and fuses, switches and indicators, relays, meters, control logic, transformers, busbars, enclosures, and others. Electric control panel is also known as an electrical control panel. Electric control panels play a crucial role in managing and regulating the flow of electricity within a system or facility. Electric control panel device enables an individual to control all electric equipment, appliances, and circuits mechanically by using electric energy.
Electric control panels with connectivity features enable remote monitoring and control of automated machinery. Electric control panels are particularly valuable for real-time diagnostics, troubleshooting, and preventive maintenance, reducing downtime and improving overall efficiency. Currently, the manufacturing sector in developing nations is channeling investments into automating production processes. Electric control panels play a crucial role in ensuring the safe operation of heavy equipment in industries, which is anticipated to propel the demand for electric control panels in the Asia-Pacific region. Electric control panels are customizable based on the specific requirements of the application and the complexity of the electrical system they are intended to control, which is expected to drive the global electric control panels market growth in coming years.
Furthermore, Green energy sources such as solar and wind are intermittent, leading to fluctuations in power generation. The integration of green energy often involves the implementation of smart grids and microgrids. Electric control panels are essential components in these systems, facilitating real-time monitoring, control, and coordination of distributed energy resources. Electric control panels play a crucial role in managing these variations by regulating the flow of electricity and ensuring grid stability, which drives the global electric control panel market.
In addition, increase in adoption of automation machinery in the production sector has led to surge in demand for electric control panels. The widespread deployment of automated machinery in production facilities requires sophisticated control systems. Electric control panels serve as the central command hubs, enabling the automation of various production processes. Electric control panels act as centralized control units for automated machinery. Devices facilitate seamless communication and coordination among different automated components, ensuring synchronized operation and optimizing overall efficiency, which is expected to drive the electric control panel market growth during the forecasted period.
The electric control panel market is segmented on the basis of type, voltage, application, and region. On the basis of type, the market is categorized into power and distribution, automation and instrumentation, power and control, and DF control. On the basis of voltage, the market is divided into high, medium, and low. On the basis of application, the market is categorized into residential, commercial, manufacturing, and industrial automation, power generation, agriculture, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report further outlines the details about the revenue generated through the sale of electric control panels across North America, Europe, Asia-Pacific, and LAMEA. Major players operating in the electric control panel market include ABB, Eaton., Schneider Electric, INDUSTLABS, Rockwell Automation Inc, Keltour, General Electric, WEG., Electra-Tech, Power Industrial Controls.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the electric control panel market analysis from 2022 to 2032 to identify the prevailing electric control panel market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the electric control panel market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global electric control panel market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy TypePower and Control
Power and Control Type
Motor Control Center (MCC)
VFD Panel
Soft Starter Panel
DG Control
DG Control Type
AMF Panel
DG Synchronizing Panel
Power and Distribution
Power and Distribution Type
Power Control Center (PCC)
Automatic Power Factor Correction Panel (APFC)
Bus Ducts
Automation and Instrumentation
Automation and Instrumentation Type
PLC Panel
Instrument Panel
SOV Panel
By VoltageMedium
High
Low
By ApplicationManufacturing and Industrial Automation
Commercial
Power Generation
Residential
Agriculture
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa,
Saudi Arabia
UAE
Rest of LAMEA
Key Market PlayersRockwell Automation Inc.
keltour controls inc
GENERAL ELECTRIC
WEG.
Electra-Tech
Power Industrial Controls
ABB
Eaton
Schneider Electric
INDUSTLABS
Please Note: It will take 7-10 business days to complete the report upon order confirmation.