Electric Control Panel Market Report: Trends, Forecast and Competitive Analysis to 2030

Electric Control Panel Trends and Forecast

The future of the global electric control panel market looks promising with opportunities in the manufacturing, chemical, automotive, food & beverage, power, oil & gas, pharmaceutical, and aerospace & defense applications. The global electric control panel market is expected to reach an estimated $7.8 billion by 2030 with a CAGR of 6.3% from 2024 to 2030. The major drivers for this market are increasing automation in manufacturing and industrial processes and rising demand for these panels from electrical sector.

A more than 150-page report is developed to help in your business decisions.

Electric Control Panel by Segment

The study includes a forecast for the global electric control panel by type, application, and region.

Electric Control Panel Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Low Tension
• Medium Tension
• High Tension

Electric Control Panel Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Manufacturing
• Chemical
• Automotive
• Food & Beverages
• Power
• Oil & Gas
• Pharmaceutical
• Aerospace & Defense

Electric Control Panel Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Electric Control Panel Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies electric control panel companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the electric control panel companies profiled in this report include-

• ABB
• Bectrol
• RITTAL
• Cetal
• Eaton
• Leviton Manufacturing
• Rockwell Automation
• Schneider Electric
• Siemen
• SIMON PROtec

Electric Control Panel Market Insights

Lucintel forecasts that low tension will remain the largest segment over the forecast period due to its ability to control electrical systems that operate at voltages below 1,000 volts.

Within this market, manufacturing will remain the largest segment due to rising use of electric control panel in this sector to control the production lines and equipment used to manufacture products.

APAC is expected to witness highest growth over the forecast period due to existence of major electronics manufacturing hubs and rapid industrialization as well as urbanization in the region.

Features of the Global Electric Control Panel Market

Market Size Estimates: Electric control panel market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Electric control panel market size by type, application, and region in terms of value ($B).

Regional Analysis: Electric control panel market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the electric control panel market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the electric control panel market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the electric control panel market size?

Answer: The global electric control panel market is expected to reach an estimated $7.8 billion by 2030.

Q2. What is the growth forecast for electric control panel market?

Answer: The global electric control panel market is expected to grow with a CAGR of 6.3% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the electric control panel market?

Answer: The major drivers for this market are increasing automation in manufacturing and industrial processes and rising demand for these panels from electrical sector.

Q4. What are the major segments for electric control panel market?

Answer: The future of the electric control panel market looks promising with opportunities in the manufacturing, chemical, automotive, food & beverage, power, oil & gas, pharmaceutical, and aerospace & defense applications.

Q5. Who are the key electric control panel market companies?

Answer: Some of the key electric control panel companies are as follows:

• ABB
• Bectrol
• RITTAL
• Cetal
• Eaton
• Leviton Manufacturing
• Rockwell Automation
• Schneider Electric
• Siemen
• SIMON PROtec

Q6. Which electric control panel market segment will be the largest in future?

Answer: Lucintel forecasts that low tension will remain the largest segment over the forecast period due to its ability to control electrical systems that operate at voltages below 1,000 volts.

Q7. In electric control panel market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to existence of major electronics manufacturing hubs and rapid industrialization as well as urbanization in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the electric control panel market by type (low tension , medium tension, and high tension), application (manufacturing, chemical, automotive, food & beverages, power, oil & gas, pharmaceutical, and aerospace & defense), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?