The power distribution component market is set to record sizeable revenue growth given to rising demand for efficient distribution and transmission control systems. These components play a vital role in regulating the supply and frequency of electricity. Increasing refurbishment activities across existing electrical setup in line with fiscal restructuring & retrofitting across large-sized manufacturing units could accelerate the demand for power distribution components.

These components mainly consist of products like switchboard, switchgear, motor control panels, and distribution panel. Over the years, voltage rating has been considered as the standard industry protocol while installing power components that are reliant on deployment areas.

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Ongoing advancements in low-voltage distribution infrastructure across residential and commercial deployments have fueled the adoption of < 11kV power distribution components. Based on these aspects, Global Market Insights, Inc., estimates that the power distribution component market could reach USD 140,000 million by the year 2025.

Slated below are some of the key trends that may drive this growth:

  1. Gaining significance of circuit breakers-

Distribution panels and circuit breakers are getting massive traction due to their remarkable features like product versatility and applicability across electric distribution infrastructure. These products are deployed on a wide scale across varied applications ranging from low voltage suburban infrastructure to utility-based distribution network.

With growing significance, product manufacturers have shifted their attention to effective development and distribution these products. For example, renowned power management company, Eaton offers IZM Low Voltage Air (Power) Circuit Breakers that allows complex solutions to fulfill wide-ranging requirements of current power distribution systems.

  1. Promising growth opportunities across MEA-

The Middle East and Africa is recognized as a prominent avenue for power distribution component manufacturers owing to the surging demand for effective T&D systems. Since past few years, the regional market has witnessed substantial growth and is expected to record high demand over the predicted time frame.

Factors like mounting fund allocation across the power sector and proliferating demand for retrofitting of aged electrical setup could play a crucial role in developing business outlook. Earlier in 2018, authorities in Saudi Arabia allotted a fund flow of USD 133 billion for Energy and Water projects.

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  1. Increasing adoption of strategic business plans-

Companies operating in the power distribution component industry are constantly focusing on developing new and innovative products to enhance their product portfolio and geographical presence. Taking January 2020 for instance, Finolex Cables launched its new industrial switchgears.

The launch will allow Finolex to step into the MCCB product segment, strengthening its presence in the industrial and domestic switchgear market while broadening its switchgear portfolio.

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