MENA Smart Electrical Panels Market: Current Analysis and Forecast (2023-2030)

Smart electrical panels are advanced systems that manage and distribute electricity within a building or facility. They're equipped with sensors, monitoring devices, and connectivity features that allow remote access and control. These panels enable real-time monitoring of energy consumption, offer insights into electricity usage patterns, allow for remote diagnostics, and often incorporate features for energy efficiency and safety measures. They facilitate better management of power distribution, enhance safety by detecting faults or abnormalities, and can integrate with smart home or building automation systems for more efficient energy use.

The MENA Smart Electrical Panels Market is expected to grow at a strong CAGR of 8.30% during the forecast period (2023-2030). The MENA region has seen a significant increase in the adoption of smart technologies, including smart electric panels. These devices offer numerous benefits over traditional electrical panels, such as real-time monitoring of energy consumption, remote control of appliances, and automated energy management systems. Additionally, smart electric panels can integrate with renewable energy sources like solar and wind power, providing users with a more sustainable and cost-effective option for their energy needs. With the rise of smart buildings and IoT technology, the demand for advanced power control panels is expected to continue growing. For instance, in 2023, Siemens launched its new Power Control Panel range, which offers real-time monitoring and remote control of electrical systems

Based on the panel type, the market is segmented into power control panel, Motor control center, automation panel, intelligent MCC panel and others. Motor Control held a significant share of the market in 2022. The rising demand for efficient and centralized motor control solutions has propelled the adoption of motor control centers (MCCs) in the electric panel market. Industries across various sectors, from manufacturing to utilities, are embracing MCCs due to their ability to streamline operations, enhance safety, and simplify maintenance. These centers consolidate motor control components into a single location, allowing for easier monitoring, control, and protection of electric motors.

Based on the End-Users, the market is bifurcated into commercial, residential, industrial. industrial segment has high market size with the significant CAGR in 2022. The adoption of control panels has surged significantly owing to their pivotal role in automation and process control. These panels serve as the nerve center for managing various industrial operations, offering a centralized interface to monitor and regulate machinery, systems, and processes. The increasing emphasis on smart manufacturing, Industry 4.0, and IoT integration has fueled the demand for sophisticated control panels that can seamlessly interface with advanced technologies.

For a better understanding of the market adoption of the smart panels, the Middle East market is analyzed based on its worldwide presence in countries such as Saudi Arabia, UAE, Kuwait, Egypt, and the Rest of MENA. The adoption of electrical panels in Saudi Arabia has witnessed significant growth in recent years. The growing adoption of electrical panels in Saudi Arabia reflects a notable shift in consumer behavior. Saudi Arabia's Vision 2030 initiative aims to diversify its economy and reduce dependence on oil. The country's National Renewable Energy Program and the development of NEOM, a futuristic smart city, highlight its commitment to sustainable energy. NEOM is designed to be a model for innovation and sustainability, relying on advanced grid systems that heavily incorporate smart electrical panels. The growth in renewable energy projects like wind and solar farms necessitates the integration of smart panels to effectively manage and distribute the generated clean energy.

Some of the major players operating in the market include: ABB., Schneider Electric., Siemens, Eaton, United Legrand., Hager Group, Mitsubishi Electric Corporation, General Electric., Rockwell Automation & Danfoss.