PUBLISHER: The Business Research Company | PRODUCT CODE: 1833964
PUBLISHER: The Business Research Company | PRODUCT CODE: 1833964
An electric control panel is an assembly of electrical components housed within an enclosure, designed to control, monitor, and manage the operation of electrical systems and machinery. It typically includes circuit breakers, relays, switches, contactors, programmable logic controllers (PLCs), and wiring systems that distribute power and control signals. The primary purpose of an electric control panel is to ensure safe, efficient, and centralized control of electrical equipment or systems in industrial, commercial, or residential settings.
The electric control panel market consists of sales, by entities (organizations, sole traders, or partnerships), of control panels, specialized enclosures electrical panel components such as circuit breakers, relays, PLCs, and monitoring devices. These panels are essential for controlling and automating machinery and processes across industries such as manufacturing, energy, water treatment, and infrastructure. The market is driven by increasing industrial automation, expansion of renewable energy projects, and growing demand for reliable and centralized electrical control systems.
The global electric control panel market was valued at $4,390.77 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 5.00%.
Increasing Demand For Automation
During the historic period, the increasing demand for automation supported the growth of the electric control panel market. The adoption of automation across industries is driving demand for centralized control systems, with electric control panels serving as the core for managing machines, processes, and safety. The shift toward smart manufacturing and Industry 4.0 has accelerated investment in automated production environments. These systems depend on control panels to synchronize sensors, robotics, and digital interfaces for real-time, data-driven operations. For instance, in September 2024, according to a report released by the International Federation of Robotics, a Germany-based non-profit organization, the operational stock of industrial robot sales was 4,282,000 units in 2023 an increase of 10% which was 3,904,000 units in 2023. Therefore, the increasing demand for automation drove the growth of the electric control panel market.
Advancing Energy Control Through Software-Driven Panel Innovations
Companies operating in the electric control panel market are increasingly investing in software-based innovations to enhance energy management, automation, and remote monitoring. These solutions aim to reduce installation costs, improve system efficiency, and enable smarter control of electrical infrastructure. For example, in December 2024, Enphase Energy, a US based cleantech company that designs, manufactures, and sells solar micro inverters, and energy storage systems, has introduced a residential power control product designed to help homeowners maximize the potential of their solar and battery systems without the need for costly main electrical panel upgrades. This innovation comes at a time when the inverter market is experiencing significant shifts, particularly in response to new regulations and changing consumer need. The software manages power distribution on the home's main electrical panel (busbar), allowing homeowners to install larger solar and battery systems safely, without exceeding panel limits or requiring upgrades. It intelligently analyzes and controls the flow of electricity from solar panels, batteries, EV chargers, and the grid, optimizing both self-consumption and exports to the grid.
The global electric control panel market is fairly fragmented, with a large number of small players operating in the market. The top 10 competitors in the market made up 21.66% of the total market in 2024.
Electric Control Panel Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global electric control panel market as it emerges from the COVID-19 shut down.
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 history and forecasts market growth by geography. It places the market within the context of the wider electric control panel market; and compares it with other markets.