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Power Distribution Component Market

Power Distribution Component Market (Type: Panel and Socket; and Application: Residential and Commercial) - Asia and Australia Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030

COVID-19 Pandemic Leads to Dynamic Growth of Renewable Energy Sector

The coronavirus pandemic has created space for business owners and governments to rethink their commercial activities. Since climate change has become evident after the recent Uttarakhand glacier burst, companies in the Asia and Australia power distribution component market and governments in Japan are already witnessing transition to renewable energy. Self-consumption solar power generation facilities are gaining prominence in Japan with considerations made in supply chain reforms and investment in domestic production.

India, on the other hand, is recognizing the importance of a resilient power sector after the onset of the COVID-19 pandemic. New reforms, such as creation of a single national power grid and dynamic growth of the renewable energy sector are contributing to the development of the Asia and Australia power distribution component market.

asia and australia power distribution component market segmentation

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Changes in Regulations, Operations of Electric Power Systems Modernize Infrastructure

Electric bus systems have become an important part of the power distribution sector, which helps to prevent events of an open circuit that might be potentially dangerous for individuals in commercial and residential sectors. However, it is very important that skilled technicians manage bus bars, as main and transfer bus arrangements are susceptible to breakdown if a fault occurs in any of the sections on the bus.

The modernization of the electric power system has become the need of the hour in the Asia and Australia power distribution component market. Changes in regulation and operations of electric power utilities are benefitting manufacturers in the Asia and Australia power distribution component market.

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Aging Infrastructure, Disruptive Events Create Hurdles in Innovations

The Asia and Australia power distribution component market is estimated to reach US$ 6 Bn by 2030. This is explained since the development and deployment of clean technologies is becoming increasingly commonplace. Thus, stakeholders are requesting regulators to implement reforms that give utilities sector certain incentives to become fully engaged in innovations of new technologies.

The Asia and Australia power distribution component market is facing challenges with new expectations and requirements to replace aging infrastructure and mitigate the effects of storms and other disruptive events. Thus, improvements in generation capacity factors and average utilization of distribution assets are playing a key role in efficient electricity usage.

Digital Control Panels Compounded with Power & Energy Monitoring

Investments in R&D have become customary for most industries, including stakeholders in the Asia power distribution component market. Schneider Electric in India is boosting its marketing capabilities of motor control panels that deliver power and energy monitoring, thermal management, and circuit protection. This indicates why the Asia power distribution component market is projected to advance at a favorable CAGR of ~6% during the forecast period.

Manufacturers are increasing the availability of control panels that offer clarity in the area of sequence control and relays where PLCs (Programmable Logic Controller) are emerging as an alternative to analogue relay systems. Digital control panels are storming the market to increase the reliability of systems.

Automated, Centrally Controlled Lighting Panels Being Publicized in Australian Commercial Spaces

Automated and centrally controlled lighting control systems are transforming residential and commercial spaces. Linear Matrix— a specialist in the lighting industry is broadening its supply chains of DALI lighting control panels in Sydney, Melbourne, and other cities of Australia. This explains why the Australia power distribution component market is slated to register a CAGR of 5.5% during the assessment period.

Lighting control panels help to manage LED lights and fixtures in commercial and residential sectors. Manufacturers in the Australia power distribution component market are boosting their production capabilities in automated and centrally controlled systems that meet convenience of users. These systems are capable of accommodating the time of day and frequency of use by end users.

asia and australia power distribution component market infographic

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Analysts’ Viewpoint

Due to the negative repercussions of the COVID-19 pandemic, there is a need for reforms in the Asia and Australia power distribution component market to emerge resilient during unanticipated future events. Japan is focused on augmenting solar power generation equipment, which helps to decarbonize the power distribution sector. However, there is a need to defend power systems from cyber security and physical attacks by malicious entities. In order to overcome these challenges, manufacturers should increase the availability of digitized control systems that deploy tracking of malicious activities and help mitigate security risks. Companies are tapping into opportunities to improve system efficiencies by investing in R&D activities.

Asia and Australia Power Distribution Component Market: Overview

  • According to Transparency Market Research’s latest research report on the power distribution component market in Asia and Australia for the historical period 2019 and the forecast period of 2020 to 2030, increase in demand for fuel cell in end-use industries, primarily in automotive, is a key factor that is expected to boost the power distribution component market in Asia and Australia during the forecast period
  • In terms of revenue, the power distribution component market in Asia and Australia is estimated to reach US$ 6 Bn by 2030. The power distribution component market in Asia is expected to expand at a CAGR of ~6%, while the power distribution component market in Australia is estimated to expand at a CAGR of 5.5% during the forecast period.

Rise in Construction & Infrastructure Activities: Key Driver of Asia and Australia Power Distribution Component Market

  • Industrialization and urbanization have increased significantly in Asia and Australia over the past decade. This has boosted the manufacturing industry in all major cities in these regions, resulting in significant expansion of cities. These developments have led to a rise in demand for electricity and electrification in all major cities in Asia and Australia.
  • According to the New Building Materials and Construction World Magazine, the construction industry in ASEAN countries, such as the Philippines, Indonesia, Malaysia, Thailand, Vietnam, and Singapore is estimated to reach US$ 250 Bn by 2025. The construction industry in these countries is projected to expand at a CAGR of 7.5% compared to the global CAGR of 3% by 2021.
  • Power distribution components are the primary elements of an electric supply system for commercial, residential, and industrial sectors. The main cable comes into the distribution board and is then distributed in secondary circuits such as lights and plugs via breakers.
  • Increase in construction & infrastructure activities is likely to boost the demand for power distribution components in the near future

Rise in Application of Power Distribution Components in Residential, Commercial Segments

  • Consumption of power distribution components has been increasing significantly since the past few years in Asia and Australia due to a surge in investments in the construction industry, primarily in residential and commercial sectors. Governments of countries such as China, India, and those in ASEAN are focusing on affordable housing for all.
  • According to India Brand Equity Foundation, the real estate sector in the country was valued at US$ 120 Bn in 2017 and is expected to reach US$ 1 Trn by 2030. The sector is anticipated to contribute 13% to the country’s GDP by 2025.
  • In 2019, the Australian Bureau of Statistics (ABS) observed that the construction sector is one of the leading sectors in the Australian economy, with an annual economic contribution of around US$ 350 Bn
  • Demand for power distribution components is directly linked to the sales of residential and commercial units, as power distribution components are an essential part of an electric supply system. Power distribution components distribute electricity in secondary circuits.
  • Thus, rise in application of power distribution components in residential and commercial sectors is anticipated to boost the demand for power distribution components in the near future

Asia and Australia Power Distribution Component Market: Competition Landscape

  • Detailed profiles of companies operating in the power distribution component market in Asia and Australia have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
  • The power distribution component market in Asia and Australia is fragmented. The power distribution component market in Asia and Australia is in the maturity phase. Key players operating in the power distribution component market in Asia and Australia are
    • ABB
    • Siemens
    • Eaton
    • Schneider Electric
    • Mitsubishi Electric
    • Hyundai Electric & Energy Systems Co. Ltd.
    • Fuji Electric Co.,L&T
    • CSE Solutions Pvt. Ltd
    • Chubu Electric Power Co.,Inc.

Asia and Australia Power Distribution Component Market: Strategic Partnerships

  • Prominent companies operating in the power distribution component market in Asia and Australia, such as ABB, Siemens, Eaton, Schneider Electric, and Mitsubishi Electric, are focusing on recent development activities to expand their footprint. Other key strategies in the power distribution component market in Asia and Australia are highlighted below:
    • In June 2020, Eaton announced that it had entered into an agreement to purchase a new facility in Hodges, South Carolina, to establish a new home for its busway product line currently spanning three facilities across Greenwood County. The investment in the new facility is expected to consolidate operations to one location to support accelerated growth of the comprehensive portfolio of power distribution and control equipment solutions used in hospitals, data centers, factories, and commercial, residential, and industrial facilities.
    • In January 2020, Siemens acquired India-based C&S Electric, which is one of the leading providers of electrical & electronic equipment for infrastructure, power generation, transmission, and distribution. The acquisition is expected to strengthen Siemens’ presence in the country. The deal was valued at US$ 294 Mn.
  • In the power distribution component market in Asia and Australia report, we have discussed individual strategies, followed by company profiles of providers of power distribution components. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the power distribution component market in Asia and Australia.

Asia and Australia Power Distribution Component Market – Segmentation

TMR’s research study assesses the power distribution component market in Asia and Australia based on type, application, and region. The report presents extensive market dynamics and progressive trends associated with different segments and how they are influencing growth prospects of the power distribution component market in Asia and Australia.

Type

  • Panel
    • Distribution Panel
    • Motor Control Panel
    • Others (including Lighting Control Panel)
  • Socket
    • Plug Socket
    • Wall Socket

Application

  • Residential
  • Commercial

Country & Sub-region

  • Asia
  • Australia

    1. Executive Summary

        1.1. Market Outlook

        1.2. Key Facts and Figures

        1.3. Key Trends

    2. Market Overview

        2.1. Market Segmentation

        2.2. Market Indicators

    3. Market Dynamics

        3.1. Drivers and Restraints Snapshot Analysis

                3.1.1.1. Drivers

                3.1.1.2. Restraints

                3.1.1.3. Opportunities

        3.2. Porter’s Five Forces Analysis

            3.2.1. Threat of Substitutes

            3.2.2. Bargaining Power of Buyers

            3.2.3. Bargaining Power of Suppliers

            3.2.4. Threat of New Entrants

            3.2.5. Degree of Competition

        3.3. Regulatory Scenario

        3.4. Value Chain Analysis

    4. COVID-19 Impact Analysis

    5. Asia Power Distribution Component Market Value (US$ Mn) Analysis, by Type

        5.1. Key Findings and Introduction

        5.2. Asia Power Distribution Component Market Value (US$ Mn) Forecast, by Type, 2019–2030

            5.2.1. Asia Power Distribution Component Market Value (US$ Mn) Forecast, by Panel, 2019–2030

                5.2.1.1. Asia Power Distribution Component Market Value (US$ Mn) Forecast, by Distribution Panel, 2019–2030

                5.2.1.2. Asia Power Distribution Component Market Value (US$ Mn) Forecast, by Motor Control Panel, 2019–2030

                5.2.1.3. Asia Power Distribution Component Market Value (US$ Mn) Forecast, by Others, 2019–2030

            5.2.2. Asia Power Distribution Component Market Value (US$ Mn) Forecast, by Socket, 2019–2030

                5.2.2.1. Asia Power Distribution Component Market Value (US$ Mn) Forecast, by Plug Socket, 2019–2030

                5.2.2.2. Asia Power Distribution Component Market Value (US$ Mn) Forecast, by Wall Socket, 2019–2030

        5.3. Asia Power Distribution Component Market Attractiveness Analysis, by Type

    6. Asia Power Distribution Component Market Value (US$ Mn) Analysis, by Application

        6.1. Key Findings and Introduction

        6.2. Asia Power Distribution Component Market Value (US$ Mn) Forecast, by Application, 2019–2030

            6.2.1. Asia Power Distribution Component Market Value (US$ Mn) Forecast, by Residential, 2019–2030

            6.2.2. Asia Power Distribution Component Market Value (US$ Mn) Forecast, by Commercial, 2019–2030

        6.3. Asia Power Distribution Component Market Attractiveness Analysis, by Application

    7. Asia Power Distribution Component Market Analysis, by Country and Sub-region

        7.1. Key Findings

        7.2. Asia Power Distribution Component Market Value (US$ Mn) Forecast, by Country and Sub-region

            7.2.1. China

            7.2.2. India

            7.2.3. Japan

            7.2.4. ASEAN

            7.2.5. Rest of Asia

        7.3. Asia Power Distribution Component Market Attractiveness Analysis, by Country and Sub-region

            7.3.1. China Power Distribution Component Market Value (US$ Mn) Forecast, by Type, 2019–2030

            7.3.2. China Power Distribution Component Market Value (US$ Mn) Forecast, by Application, 2019–2030 

            7.3.3. India Power Distribution Component Market Value (US$ Mn) Forecast, by Type, 2019–2030 

            7.3.4. India Power Distribution Component Market Value (US$ Mn) Forecast, by Application, 2019–2030

            7.3.5. Japan Power Distribution Component Market Value (US$ Mn) Forecast, by Type, 2019–2030 

            7.3.6. Japan Power Distribution Component Market Value (US$ Mn) Forecast, by Application, 2019–2030

            7.3.7. ASEAN Power Distribution Component Market Value (US$ Mn) Forecast, by Type, 2019–2030 

            7.3.8. ASEAN Power Distribution Component Market Value (US$ Mn) Forecast, by Application, 2019–2030

            7.3.9. Rest of Asia Power Distribution Component Market Value (US$ Mn) Forecast, by Type, 2019–2030

            7.3.10.  Rest of Asia Power Distribution Component Market Value (US$ Mn) Forecast, by Application, 2019–2030

    8. Australia Power Distribution Component Market Overview

        8.1. Key Findings

        8.2. Australia Power Distribution Component Market Value (US$ Mn) Forecast, by Type, 2019–2030

        8.3. Australia Power Distribution Component Market Value (US$ Mn) Forecast, by Application, 2019–2030

        8.4. Australia Power Distribution Component Market Attractiveness Analysis, by Type

        8.5. Australia Power Distribution Component Market Attractiveness Analysis, by Application

    9. Competition Landscape

        9.1. Competition Matrix

        9.2. Asia and Australia Power Distribution Component Market Share Analysis, by Company (2019)

        9.3. Market Footprint Analysis

        9.4. Company Profiles

            9.4.1. ABB

                9.4.1.1. Company Details

                9.4.1.2. Company Description

                9.4.1.3. Business Overview 

                9.4.1.4. Financial Details

                9.4.1.5. Strategic Overview

            9.4.2. Siemens

                9.4.2.1. Company Details

                9.4.2.2. Company Description

                9.4.2.3. Business Overview 

                9.4.2.4. Financial Details

                9.4.2.5. Strategic Overview

            9.4.3. Eaton.

                9.4.3.1. Company Details

                9.4.3.2. Company Description

                9.4.3.3. Business Overview 

                9.4.3.4. Financial Details

                9.4.3.5. Strategic Overview

            9.4.4. Schneider Electric SE.

                9.4.4.1. Company Details

                9.4.4.2. Company Description

                9.4.4.3. Business Overview 

                9.4.4.4. Financial Details

                9.4.4.5. Strategic Overview

            9.4.5. Larsen & Toubro Limited

                9.4.5.1. Company Details

                9.4.5.2. Company Description

                9.4.5.3. Business Overview 

                9.4.5.4. Financial Details

            9.4.6. Hyundai Electric & Energy Systems Co., Ltd.

                9.4.6.1. Company Details

                9.4.6.2. Company Description

                9.4.6.3. Business Overview 

            9.4.7. Fuji Electric Co., Ltd

                9.4.7.1. Company Details

                9.4.7.2. Company Description

                9.4.7.3. Business Overview 

                9.4.7.4. Financial Details

            9.4.8. Crompton Greaves Consumer Electricals Ltd

                9.4.8.1. Company Details

                9.4.8.2. Company Description

                9.4.8.3. Business Overview 

                9.4.8.4. Financial Details

            9.4.9. Mitsubishi Electric Corporation

                9.4.9.1. Company Details

                9.4.9.2. Company Description

                9.4.9.3. Business Overview

                9.4.9.4. Financial Details

                9.4.9.5. Strategic Overview

            9.4.10. GENERAL ELECTRIC

                9.4.10.1. Company Details

                9.4.10.2. Company Description

                9.4.10.3. Business Overview 

                9.4.10.4. Financial Details

                9.4.10.5. Strategic Overview

            9.4.11. FURUKAWA CO.,LTD

                9.4.11.1. Company Details

                9.4.11.2. Company Description

                9.4.11.3. Business Overview 

                9.4.11.4. Financial Details

            9.4.12. Panasonic Corporation

                9.4.12.1. Company Details

                9.4.12.2. Company Description

                9.4.12.3. Business Overview 

                9.4.12.4. Financial Details

            9.4.13. Arrow Electronics, Inc.

                9.4.13.1. Company Details

                9.4.13.2. Company Description

                9.4.13.3. Business Overview 

                9.4.13.4. Financial Details

    10. Primary Research – Key Insights

    11. Appendix

        11.1. Research Methodology and Assumptions

    List of Tables:

    Table 01: Asia Power Distribution Component Market Value (US$ Mn) Forecast, by Country and Sub-region, 2019–2030

    Table 02: Asia Power Distribution Component Market Value (US$ Mn) Forecast, by Type, 2019–2030

    Table 03: Asia Power Distribution Component Market Value (US$ Mn) Forecast, by Application, 2019–2030

    Table 04: China Power Distribution Component Market Value (US$ Mn) Forecast, by Type, 2019–2030

    Table 05: China Power Distribution Component Market Value (US$ Mn) Forecast, by Application, 2019–2030

    Table 06: India Power Distribution Component Market Value (US$ Mn) Forecast, by Type, 2019–2030

    Table 07: India Power Distribution Component Market Value (US$ Mn) Forecast, by Application, 2019–2030

    Table 08: Japan Power Distribution Component Market Value (US$ Mn) Forecast, by Type, 2019–2030

    Table 09: Japan Power Distribution Component Market Value (US$ Mn) Forecast, by Application, 2019–2030

    Table 10: ASEAN Power Distribution Component Market Value (US$ Mn) Forecast, by Type, 2019–2030

    Table 11: ASEAN Power Distribution Component Market Value (US$ Mn) Forecast, by Application, 2019–2030

    Table 12: Rest of Asia Power Distribution Component Market Value (US$ Mn) Forecast, by Type, 2019–2030

    Table 13: Rest of Asia Power Distribution Component Market Value (US$ Mn) Forecast, by Application, 2019–2030

    Table 14: Australia Power Distribution Component Market Value (US$ Mn) Forecast, by Type, 2019–2030

    Table 15: Australia Power Distribution Component Market Value (US$ Mn) Forecast, by Application, 2019–2030

    List of Figures:

    Figure 01: Asia Power Distribution Component Market Value (US$ Mn), 2019–2030

    Figure 02: Asia Power Distribution Component Market Value Share Analysis, by Country and Sub-region, 2019, 2025, and 2030

    Figure 03: Asia Power Distribution Component Market Attractiveness Analysis, by Country and Sub-region

    Figure 04: Asia Power Distribution Component Market Value Share Analysis, by Type, 2019, 2025, and 2030

    Figure 05: Asia Power Distribution Component Market Attractiveness Analysis, by Type

    Figure 06: Asia Power Distribution Component Market Value Share Analysis, by Application, 2019, 2025, and 2030

    Figure 07: Asia Power Distribution Component Market Attractiveness Analysis, by Application, 

    Figure 08: Australia Power Distribution Component Market Value Share Analysis, by Type, 2019, 2025, and 2030

    Figure 09: Australia Power Distribution Component Market Attractiveness Analysis, by Type

    Figure 10: Australia Power Distribution Component Market Value Share Analysis, by Application, 2019, 2025, and 2030

    Figure 11: Australia Power Distribution Component Market Attractiveness Analysis, by Application

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