Power Distribution Component market is likely to witness a healthy CAGR of 6% during the forecast period, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Structural Insulated Panel Market
Power Distribution Component market is likely to witness a healthy CAGR of 6% during the forecast period. The prime factors to drive the power distribution components market are the increasing demand for effective T&D control systems, refurbishment & retrofit of existing grid infrastructure, expansion of micro-grid networks, rising peak load demand, and integration of a sustainable energy infrastructure.
North America is estimated to be the largest as well as the fastest-growing power distribution component market during the forecast period, driven by the increasing investment of the US government for the development of new electric networks and the gradual shift towards high-quality systems from the traditional electrical equipment.
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Report Scope & Market Segmentation
Power Distribution Component Market Share: By Product Type
Based on the product type, the market is segmented as switchgear, switchboard, distribution panel, motor control panels, and others. The distribution panels & circuit breakers dominated the power distribution component market in 2019, due to its applicability in a wide range of applications, from low voltage suburban networks to utility-based distribution infrastructure as well as its cost-effective nature.
Power Distribution Component Market Share: By Configuration Type
Based on the configuration type, the power distribution component market is segmented as fixed mounting, plug-in, and withdrawable. The fixed mount segment dominated the power distribution component market in 2019, and continues to dominate the market in the coming years as well. Requirement for higher ampacity and voltage rating infrastructure makes fixed mount power distribution components an excellent choice for manufacturing units, process plants, oil & gas exploration & extraction, and similar industrial peripherals.
Power Distribution Component Market Share: By Insulation Type
Based on the insulation type, the market is segmented as air, gas, oil, vacuum, and others. Vacuum insulation governed the market in 2019, driven by high consumer reliability, leakage-free technology, and its economical price.
Power Distribution Component Market Share: By Installation Type
Based on the installation type, the power distribution component market is segmented as indoor and outdoor. The indoor power distribution component market is expected to grow at a faster rate during the forecast period, driven by the increasing space constraints and rising investments in R&D for the development of smart and compact control equipment.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
What is the impact of COVID-19 on the market forecast?
What are the trends, drivers, and challenges?
How competitive is the market? Who are the market leaders?
What are the key strategies adopted by the market players?
Which segments offer the greatest opportunities?
Which are the most attractive regions?
What are the key success factors for the market players?
How does the business environment impact the market?
Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
Know more about us:
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