Electric Control Panel Global Market Report 2024

Description

Electric Control Panel Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on electric control panel market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
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Where is the largest and fastest growing market for electric control panel? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electric control panel market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Low Tension; Medium and High Tension
2) By Form: Open; Enclosed
3) By Industry: Manufacturing; Food and Beverages; Chemical; Automotive; Power; Pharmaceutical; Oil and Gas; Aerospace and Defense
Companies Mentioned: ABB Ltd.; Siemens AG; Eaton Corporation PLC; Rockwell Automation Inc.; SIMON PROtec Deutschland GmbH
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

An electric control panel is a collection of electrical devices powered by electricity, designed to oversee and regulate the mechanical operations of industrial machinery or equipment. Enclosed within enclosures, electric control panels house electrical components crucial for controlling and monitoring diverse mechanical processes.

Electric control panels come in various types, including low tension, medium tension, and high tension. Low-tension control panels are specifically utilized with low-tension cables to receive power from generators or transformers and distribute it to different electrical devices and distribution boards. These panels can be categorized into open and enclosed forms, finding applications across a range of industries such as manufacturing, food and beverages, chemicals, automotive, power generation, pharmaceuticals, oil and gas, as well as aerospace and defense.

The electric control panel market research report is one of a series of new reports from The Business Research Company that provides electric control panel market statistics, including electric control panel industry global market size, regional shares, competitors with an electric control panel market share, detailed electric control panel market segments, market trends and opportunities, and any further data you may need to thrive in the electric control panel industry. This electric control panel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The electric control panel market size has grown strongly in recent years. It will grow from $5.47 billion in 2023 to $5.87 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to industrial growth, energy demand, customization needs, economic factors, and infrastructure development.

The electric control panel market size is expected to see strong growth in the next few years. It will grow to $7.79 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The projected growth in the forecast period can be attributed to the development of smart infrastructure, the integration of renewable energy sources, an emphasis on customization and adaptability in technological solutions, and the broader trend of digital transformation. Key trends expected in this period include the implementation of distributed energy systems, a heightened focus on user interface (UI) and user experience (UX) design, the adoption of predictive maintenance practices, the integration of cloud-based solutions, and an increased emphasis on energy efficiency and sustainability measures.

The electric control panel market is poised for substantial growth, fueled by a rising demand for factory automation. Factory automation, involving the integration of automation across the production process, has become a key driver for the electrical control panel industry. The need for enhanced equipment safety in factory automation settings has led to an increased installation of electric control panels in diverse industrial environments, including workplaces, warehouses, and workshops. A notable indicator of this trend is the surge in industrial automation robot sales, with a global increase of 27% in 2021, reaching a record 486,800 units, according to data from the International Federation of Robotics. The Americas experienced a 27% climb in installations, while Asia and Australia saw a 33% increase, underscoring the significant role of factory automation in driving the electric control panel market's growth.

The electric control panel market is expected to experience robust growth, driven by the expanding manufacturing industry. The manufacturing sector, a key contributor to economic development, relies on electric control panels to enhance efficiency, safety, and adaptability to evolving production requirements. The widespread use of electric control panels in manufacturing facilities contributes to overall productivity and competitiveness. In 2021, the global manufacturing production witnessed a notable 9.4% increase, as reported by the United Nations Industrial Development Organization. This growth underscores the pivotal role of electric control panels in meeting the dynamic needs of the manufacturing industry, positioning them as a vital component for sustained growth in the market.

Product innovation stands out as a prominent trend shaping the electric control panel market. Major industry players are actively developing advanced products equipped with smart monitoring technologies to maintain their competitive edge. ABB Ltd., a Switzerland-based electrical control panel company, exemplifies this trend by introducing smart monitoring solutions for electric power measurement and monitoring meters. These meters offer comprehensive power quality analysis and precise monitoring of energy assets across residential, industrial, and commercial building sectors. The release of innovative products with enhanced functionalities showcases the industry's commitment to technological advancements, further propelling the growth of the electric control panel market.

Major companies operating in the electric control panel market are directing their efforts toward introducing innovative products to drive market revenues. The introduction of a home electric panel is a prime example of this strategy. Span.IO Inc., a US-based home electrification technology company, launched the Span Smart Panel. This smart electrical panel, designed to replace existing panels entirely, offers modernization for home energy systems. With longer battery backup, smarter energy savings, and crucial information, the Span Smart Panel empowers homeowners to control their home's energy use without compromising safety. The compatibility with various energy systems, circuit-level control, and actionable insights into energy usage position innovative products like the home electric panel as key drivers for revenue growth in the electric control panel market.

In June 2021, Systems Control, a US-based leader in electrical and electronics manufacturing, successfully acquired Keystone Electrical Manufacturing Company for an undisclosed amount. This strategic acquisition positions Systems Control for regional expansion and facilitates the acceleration of its product development portfolio. Keystone Electrical Manufacturing Company, renowned for its expertise in manufacturing electrical control panels, aligns seamlessly with Systems Control's growth objectives and enhances its capabilities in the industry.

Major companies operating in the electric control panel market report are ABB Ltd., Siemens AG, Eaton Corporation PLC, Rockwell Automation Inc., SIMON PROtec Deutschland GmbH, General Electric Company, Leviton Manufacturing Company Inc., Paneltronics Inc., CETAL SAS, Bectrol Inc., Penbro Kelnick (Pty) Ltd., Konark Automation, B&B Assemblies LLC, Schneider Electric SE, Honeywell International Incorporation, Emerson Electric Company, Simplex System Controls Inc., Walther Electric Inc., Horlick Technologies LLC, Avatar Instruments Corporation, Mitsubishi Electric Factory Automation, AmSafe Inc., Precision Mfg. Co. Inc., Custom Manufacturing & Engineering Inc., Rittal GmbH & Co. KG, Phoenix Contact GmbH & Co. KG, Chint Group Co. Ltd., WEG Electric Corporation, Delta Electronics Inc., Fuji Electric Co. Ltd.

Asia-Pacific was the largest region in the electric control panel market share in 2023. The regions covered in the electric control panel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the electric control panel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The electric control panel market consists of sales of virtual control panels, remote control panels, and physical control panel products. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r12660

1. Executive Summary

2. Electric Control Panel Market Characteristics

3. Electric Control Panel Market Trends And Strategies

4. Electric Control Panel Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Electric Control Panel Market Size and Growth

5.1. Global Electric Control Panel Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Electric Control Panel Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Electric Control Panel Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Electric Control Panel Market Segmentation

6.1. Global Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Low Tension
Medium and High Tension
6.2. Global Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Open
Enclosed
6.3. Global Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Manufacturing
Food and Beverages
Chemical
Automotive
Power
Pharmaceutical
Oil and Gas
Aerospace and Defense

7. Electric Control Panel Market Regional And Country Analysis

7.1. Global Electric Control Panel Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Electric Control Panel Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Electric Control Panel Market

8.1. Asia-Pacific Electric Control Panel Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Electric Control Panel Market

9.1. China Electric Control Panel Market Overview
9.2. China Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Electric Control Panel Market

10.1. India Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Electric Control Panel Market

11.1. Japan Electric Control Panel Market Overview
11.2. Japan Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Electric Control Panel Market

12.1. Australia Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Electric Control Panel Market

13.1. Indonesia Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Electric Control Panel Market

14.1. South Korea Electric Control Panel Market Overview
14.2. South Korea Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Electric Control Panel Market

15.1. Western Europe Electric Control Panel Market Overview
15.2. Western Europe Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Electric Control Panel Market

16.1. UK Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Electric Control Panel Market

17.1. Germany Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Electric Control Panel Market

18.1. France Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Electric Control Panel Market

19.1. Italy Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Electric Control Panel Market

20.1. Spain Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Electric Control Panel Market

21.1. Eastern Europe Electric Control Panel Market Overview
21.2. Eastern Europe Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Electric Control Panel Market

22.1. Russia Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Electric Control Panel Market

23.1. North America Electric Control Panel Market Overview
23.2. North America Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Electric Control Panel Market

24.1. USA Electric Control Panel Market Overview
24.2. USA Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Electric Control Panel Market

25.1. Canada Electric Control Panel Market Overview
25.2. Canada Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Electric Control Panel Market

26.1. South America Electric Control Panel Market Overview
26.2. South America Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Electric Control Panel Market

27.1. Brazil Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Electric Control Panel Market

28.1. Middle East Electric Control Panel Market Overview
28.2. Middle East Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Electric Control Panel Market

29.1. Africa Electric Control Panel Market Overview
29.2. Africa Electric Control Panel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Electric Control Panel Market, Segmentation By Form, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Electric Control Panel Market, Segmentation By Industry, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Electric Control Panel Market Competitive Landscape And Company Profiles

30.1. Electric Control Panel Market Competitive Landscape
30.2. Electric Control Panel Market Company Profiles
- 30.2.1. ABB Ltd.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Siemens AG
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Eaton Corporation plc
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Rockwell Automation Inc.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. SIMON PROtec Deutschland GmbH
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Electric Control Panel Market Competitive Benchmarking

32. Global Electric Control Panel Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Electric Control Panel Market

34. Electric Control Panel Market Future Outlook and Potential Analysis

34.1 Electric Control Panel Market In 2028 - Countries Offering Most New Opportunities
34.2 Electric Control Panel Market In 2028 - Segments Offering Most New Opportunities
34.3 Electric Control Panel Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer