Industrial Control Panel Market Size and Forecasts, Global and Regional Share, Trends, and Growth Opportunity Analysis By Component and Application

List of Tables

The Industrial Control Panel Market size is expected to reach US$ 14.70 billion by 2030 from 7.57 billion in 2022, at an estimated CAGR of 8.6% from 2022 to 2030.

The North American Industrial Control Panel market is segmented into the US, Canada, and Mexico. The US, Canada, and Mexico are among the major economies in North America. North America contributes a noteworthy share to the global industrial control panel market owing to growing investments by market players in the manufacturing plant. For instance, in August 2023, Eaton Corp Plc announced an investment of US$ 500 million in North America's manufacturing sector to support energy transition, electrification, and digitalization across industries. These industries use industrial control panels to enhance their manufacturing processes' precision, efficiency, and safety. These panels monitor pressure and temperature to maintain ideal electrical production and energy transition conditions.

For instance, in October 2022, Schneider Electric SE announced an investment of US$ 46 million in its Lexington, Kentucky, and Lincoln, Nebraska manufacturing plants. The investment helped Schneider Electric SE to modernize its operations by increasing circuit breakers and related electrical products output for its customers in the US and Canada. This investment also supports the company in strengthening its regional capability and increasing the manufacturing capacity of electrical products to attract a potential customer base in North America. The demand for electrical products among consumers increases the adoption of industrial control panels among electrical manufacturers for regulating and controlling machinery, equipment, and processes within the manufacturing plant, which is driving the market in the country. Moreover, the expansion of the electrical & electronics industry creates a demand for industrial control panels among manufacturers in North America. The industrial control panel is equipped with PLCs to automate the manufacturing processes, minimizing the risk of errors and reducing human intervention by improving production efficiency, which increases the demand among manufacturing.

Moreover, the automotive industry in the US, Canada, and Mexico is also rising rapidly due to the growing demand for passenger vehicles among consumers. The presence of key automotive manufacturers, including BMW, General Motors, Toyota, Audi, Ford, and Honda, increases the adoption of industrial control panels by these manufacturers to streamline their production processes. Automotive manufacturers are highly demanding industrial control panels for monitoring and inspecting the quality of products. However, a significant demand-supply gap still needs to be filled, creating growth opportunities for vendors operating in the market.

Based on component, the Industrial Control Panel market is segmented into control devices, fused disconnect switches, motor controllers, circuit breakers, relays, and others. The control devices segment held the largest share of the Industrial Control Panel market in 2022. Control devices include control logics, terminal blocks, and isolators. Control logics and devices are small, industrialized computers particularly developed to control various processes in industrial settings, including operating a wave machine in a swimming pool or controlling a complex production process. In addition, an advanced human machine interface (HMI) can be implemented through the use of a control display. Also, terminals allow electricians and engineers to connect wires from assembled equipment to the input/output connections on other equipment, thus creating a complete circuit. Moreover, within a control panel, terminals allow wires to be joined together, directing electrical power to various components that need it. A fused disconnect switch is a combination of a switch and a fuse, which are used to disconnect the circuit and shut the circuit off in the event of a problem. In addition, these switches can also detect potential electric problems or malfunctions and help take prompt action accordingly. Thus, the overall purpose of fused disconnect switches is to disconnect the control panel from its electrical supply completely to perform operations such as repairs or maintenance, as well as for emergency stoppages. Motor controllers regulate the operation of electric motors. They are often used to perform manual or automatic operations, which include starting and stopping the motor, speeding up or slowing down, selecting forward or reverse rotation, and controlling other operational parameters. Additionally, motor controllers can help in the protection of the system by regulating the torque and protecting against overloads and faults. Furthermore, many motor controllers contain additional capabilities such as data logging and data collection, as well as application-specific control logic. Thus, all these capabilities and uses of motor controllers are raising their demand in the market, fueling the market growth for the segment.

Based on application, the Industrial Control Panel market is segmented into manufacturing, food and beverages, oil and gas, chemical industry, automotive, and others. The manufacturing segment held the largest share in the Industrial Control Panel market. The industrial control panel is necessary for industrial automation as it provides control of multiple functions of manufacturing machinery and high-level monitoring that allows manufacturers to organize, define, and meet the objectives set for production. Various manufacturing companies are adopting robotics and automation in their product manufacturing process, and due to this reason, control panels are an important part of the manufacturing industry. In addition, in the production lines and industrial manufacturing processes, the need for industrial control panels is rising to increase productivity, protect equipment, reduce downtime, and meet all the regulations of safety. The control panels control all the pertinent equipment of manufacturing, and to control the entire process of manufacturing, it provides a single collective operation base, thus raising its demand in the manufacturing industry. Control panels used in the food & beverages industry are of two types: machinery control panels and conveying control panels. In this industry, control panels are used in the processes of manufacturing cooking and storing utensils and filling these vessels with products. Machinery control panels are used to operate machines to manufacture or fill the vessels, and conveying control panels are required to operate machines that transport these vessels through different equipment setups so that they can be ready for building, labeling, sealing, and final packaging for shipping. The machine control panels require robust safety layers as they have various moving parts that can cause serious injuries to operators. These panels consist of circuit protection components, terminals, programmable logic controllers (PLC), safety relays, communication equipment, motor or servo controllers, selector switches, pushbuttons, and human machine interfaces (HMIs). Several auxiliary panels are mounted around the equipment with an emergency stop switch.

ABB, Bectrol, Eaton, Siemens, Omron Corporation, Rockwell Automation, Rittal GmbH & Co. KG, Schneider Electric, Franzosi s.n.c., CETAL S.A.S. are among the key Industrial Control Panel Market players that are profiled in this market study.

The overall Industrial Control Panel Market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Industrial Control Panel Market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Industrial Control Panel Market.

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Product Code: TIPRE00026372

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Industrial Control Panel Market Landscape

4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
- 4.3.1 List of Vendors in Value Chain

5. Industrial Control Panel Market - Key Industry Dynamics

5.1 Industrial Control Panel Market - Key Industry Dynamics
5.2 Market Drivers
- 5.2.1 Rise in Demand for Factory Automation
- 5.2.2 Supportive Government Standards and Regulations
5.3 Market Restraints
- 5.3.1 High Deployment and Replacement Costs of Industrial Control Panels
5.4 Market Opportunities
- 5.4.1 Construction of New Manufacturing Facilities and Warehouses
- 5.4.2 Technological Advancements in Industrial Control Panels
5.5 Future Trends
- 5.5.1 Growing Mining Activities
5.6 Impact of Drivers and Restraints:

6. Industrial Control Panel Market - Global Market Analysis

6.1 Industrial Control Panel Market Revenue (US$ Million), 2022 - 2030
6.2 Industrial Control Panel Market Forecast and Analysis

7. Industrial Control Panel Market Analysis - Component

7.1 Control Devices
- 7.1.1 Overview
- 7.1.2 Control Devices Market, Revenue and Forecast to 2030 (US$ Million)
7.2 Fused Disconnect Switches
- 7.2.1 Overview
- 7.2.2 Fused Disconnect Switches Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Motor Controllers
- 7.3.1 Overview
- 7.3.2 Motor Controllers Market, Revenue and Forecast to 2030 (US$ Million)
7.4 Circuit Breakers
- 7.4.1 Overview
- 7.4.2 Circuit Breakers Market, Revenue and Forecast to 2030 (US$ Million)
7.5 Relays
- 7.5.1 Overview
- 7.5.2 Relays Market, Revenue and Forecast to 2030 (US$ Million)
7.6 Others
- 7.6.1 Overview
- 7.6.2 Others Market, Revenue and Forecast to 2030 (US$ Million)

8. Industrial Control Panel Market Analysis - Application

8.1 Manufacturing
- 8.1.1 Overview
- 8.1.2 Manufacturing Market Revenue, and Forecast to 2030 (US$ Million)
8.2 Food and Beverages
- 8.2.1 Overview
- 8.2.2 Food and Beverages Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Oil and Gas
- 8.3.1 Overview
- 8.3.2 Oil and Gas Market Revenue, and Forecast to 2030 (US$ Million)
8.4 Chemical Industry
- 8.4.1 Overview
- 8.4.2 Chemical Industry Market Revenue, and Forecast to 2030 (US$ Million)
8.5 Automotive
- 8.5.1 Overview
- 8.5.2 Automotive Market Revenue, and Forecast to 2030 (US$ Million)
8.6 Others
- 8.6.1 Overview
- 8.6.2 Others Market Revenue, and Forecast to 2030 (US$ Million)

9. Industrial Control Panel Market - Geographical Analysis

9.1 Overview
9.2 North America
- 9.2.1 North America Industrial Control Panel Market Overview
- 9.2.2 North America Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
- 9.2.3 North America Industrial Control Panel Market Breakdown by Component
  - 9.2.3.1 North America Industrial Control Panel Market Revenue and Forecasts and Analysis - By Component
- 9.2.4 North America Industrial Control Panel Market Breakdown by Application
  - 9.2.4.1 North America Industrial Control Panel Market Revenue and Forecasts and Analysis - Application
- 9.2.5 North America Industrial Control Panel Market Revenue and Forecasts and Analysis - By Country
  - 9.2.5.1 North America Industrial Control Panel Market Revenue and Forecasts and Analysis - By Country
  - 9.2.5.2 US Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.2.5.2.1 US Industrial Control Panel Market Breakdown by Component
    - 9.2.5.2.2 US Industrial Control Panel Market Breakdown by Application
  - 9.2.5.3 Canada Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.2.5.3.1 Canada Industrial Control Panel Market Breakdown by Component
    - 9.2.5.3.2 Canada Industrial Control Panel Market Breakdown by Application
  - 9.2.5.4 Mexico Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.2.5.4.1 Mexico Industrial Control Panel Market Breakdown by Component
    - 9.2.5.4.2 Mexico Industrial Control Panel Market Breakdown by Application
9.3 Europe
- 9.3.1 Europe Industrial Control Panel Market Overview
- 9.3.2 Europe Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
- 9.3.3 Europe Industrial Control Panel Market Breakdown by Component
  - 9.3.3.1 Europe Industrial Control Panel Market Revenue and Forecasts and Analysis - By Component
- 9.3.4 Europe Industrial Control Panel Market Breakdown by Application
  - 9.3.4.1 Europe Industrial Control Panel Market Revenue and Forecasts and Analysis - By Application
- 9.3.5 Europe Industrial Control Panel Market Revenue and Forecasts and Analysis - By Country
  - 9.3.5.1 Europe Industrial Control Panel Market Revenue and Forecasts and Analysis - By Country
  - 9.3.5.2 Germany Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.3.5.2.1 Germany Industrial Control Panel Market Breakdown by Component
    - 9.3.5.2.2 Germany Industrial Control Panel Market Breakdown by Application
  - 9.3.5.3 France Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.3.5.3.1 France Industrial Control Panel Market Breakdown by Component
    - 9.3.5.3.2 France Industrial Control Panel Market Breakdown by Application
  - 9.3.5.4 Italy Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.3.5.4.1 Italy Industrial Control Panel Market Breakdown by Component
    - 9.3.5.4.2 Italy Industrial Control Panel Market Breakdown by Application
  - 9.3.5.5 United Kingdom Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.3.5.5.1 United Kingdom Industrial Control Panel Market Breakdown by Component
    - 9.3.5.5.2 United Kingdom Industrial Control Panel Market Breakdown by Application
  - 9.3.5.6 Russia Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.3.5.6.1 Russia Industrial Control Panel Market Breakdown by Component
    - 9.3.5.6.2 Russia Industrial Control Panel Market Breakdown by Application
  - 9.3.5.7 Rest of Europe Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.3.5.7.1 Rest of Europe Industrial Control Panel Market Breakdown by Component
    - 9.3.5.7.2 Rest of Europe Industrial Control Panel Market Breakdown by Application
9.4 Asia Pacific
- 9.4.1 Asia Pacific Industrial Control Panel Market Overview
- 9.4.2 Asia Pacific Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
- 9.4.3 Asia Pacific Industrial Control Panel Market Breakdown by Component
  - 9.4.3.1 Asia Pacific Industrial Control Panel Market Revenue and Forecasts and Analysis - By Component
- 9.4.4 Asia Pacific Industrial Control Panel Market Breakdown by Application
  - 9.4.4.1 Asia Pacific Industrial Control Panel Market Revenue and Forecasts and Analysis - By Application
- 9.4.5 Asia Pacific Industrial Control Panel Market Revenue and Forecasts and Analysis - By Country
  - 9.4.5.1 Asia Pacific Industrial Control Panel Market Revenue and Forecasts and Analysis - By Country
  - 9.4.5.2 China Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.4.5.2.1 China Industrial Control Panel Market Breakdown by Component
    - 9.4.5.2.2 China Industrial Control Panel Market Breakdown by Application
  - 9.4.5.3 Japan Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.4.5.3.1 Japan Industrial Control Panel Market Breakdown by Component
    - 9.4.5.3.2 Japan Industrial Control Panel Market Breakdown by Application
  - 9.4.5.4 South Korea Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.4.5.4.1 South Korea Industrial Control Panel Market Breakdown by Component
    - 9.4.5.4.2 South Korea Industrial Control Panel Market Breakdown by Application
  - 9.4.5.5 India Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.4.5.5.1 India Industrial Control Panel Market Breakdown by Component
    - 9.4.5.5.2 India Industrial Control Panel Market Breakdown by Application
  - 9.4.5.6 Australia Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.4.5.6.1 Australia Industrial Control Panel Market Breakdown by Component
    - 9.4.5.6.2 Australia Industrial Control Panel Market Breakdown by Application
  - 9.4.5.7 Rest of Asia Pacific Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.4.5.7.1 Rest of Asia Pacific Industrial Control Panel Market Breakdown by Component
    - 9.4.5.7.2 Rest of Asia Pacific Industrial Control Panel Market Breakdown by Application
9.5 Middle East & Africa
- 9.5.1 Middle East & Africa Industrial Control Panel Market Overview
- 9.5.2 Middle East & Africa Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
- 9.5.3 Middle East & Africa Industrial Control Panel Market Breakdown by Component
  - 9.5.3.1 Middle East & Africa Industrial Control Panel Market Revenue and Forecasts and Analysis - By Component
- 9.5.4 Middle East & Africa Industrial Control Panel Market Breakdown by Application
  - 9.5.4.1 Middle East & Africa Industrial Control Panel Market Revenue and Forecasts and Analysis - By Application
- 9.5.5 Middle East & Africa Industrial Control Panel Market Revenue and Forecasts and Analysis - By Country
  - 9.5.5.1 Middle East & Africa Industrial Control Panel Market Revenue and Forecasts and Analysis - By Country
  - 9.5.5.2 Saudi Arabia Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.5.5.2.1 Saudi Arabia Industrial Control Panel Market Breakdown by Component
    - 9.5.5.2.2 Saudi Arabia Industrial Control Panel Market Breakdown by Application
  - 9.5.5.3 UAE Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.5.5.3.1 UAE Industrial Control Panel Market Breakdown by Component
    - 9.5.5.3.2 UAE Industrial Control Panel Market Breakdown by Application
  - 9.5.5.4 South Africa Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.5.5.4.1 South Africa Industrial Control Panel Market Breakdown by Component
    - 9.5.5.4.2 South Africa Industrial Control Panel Market Breakdown by Application
  - 9.5.5.5 Rest of MEA Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.5.5.5.1 Rest of MEA Industrial Control Panel Market Breakdown by Component
    - 9.5.5.5.2 Rest of MEA Industrial Control Panel Market Breakdown by Application
9.6 South America
- 9.6.1 South America Industrial Control Panel Market Overview
- 9.6.2 South America Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
- 9.6.3 South America Industrial Control Panel Market Breakdown by Component
  - 9.6.3.1 South America Industrial Control Panel Market Revenue and Forecasts and Analysis - By Component
- 9.6.4 South America Industrial Control Panel Market Breakdown by Application
  - 9.6.4.1 South America Industrial Control Panel Market Revenue and Forecasts and Analysis - By Application
- 9.6.5 South America Industrial Control Panel Market Revenue and Forecasts and Analysis - By Country
  - 9.6.5.1 South America Industrial Control Panel Market Revenue and Forecasts and Analysis - By Country
  - 9.6.5.2 Brazil Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.6.5.2.1 Brazil Industrial Control Panel Market Breakdown by Component
    - 9.6.5.2.2 Brazil Industrial Control Panel Market Breakdown by Application
  - 9.6.5.3 Argentina Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.6.5.3.1 Argentina Industrial Control Panel Market Breakdown by Component
    - 9.6.5.3.2 Argentina Industrial Control Panel Market Breakdown by Application
  - 9.6.5.4 Rest of SAM Industrial Control Panel Market Revenue and Forecasts to 2030 (US$ Mn)
    - 9.6.5.4.1 Rest of SAM Industrial Control Panel Market Breakdown by Component
    - 9.6.5.4.2 Rest of SAM Industrial Control Panel Market Breakdown by Application

10. Industrial Control Panel Market - Impact of COVID-19 Pandemic

10.1 Pre & Post Covid-19 Impact

11. Competitive Landscape

11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration

12. Industry Landscape

12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions

13. Company Profiles

13.1 ABB Ltd
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 Bectrol
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Eaton Corp Plc
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 OMRON Corp
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Rockwell Automation Inc
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 Rittal GmbH & Co KG
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 Schneider Electric SE
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 Siemens AG
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 CETAL SAS
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 Franzosi Snc
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments

14. Appendix

14.1 About the Insight Partners
14.2 Word Index