Electric Control Panel Market Size, Share, and Industry Analysis, By Type (Power Distribution, Power, Energy Monitoring and Control, Automation Systems, and Others), By Voltage (Low Voltage, Medium Voltage, and High Voltage), By Application (Residential, Commercial, Manufacturing and Industrial Fields, Power Plants, and Others); and Regional Forecast, 2024-2032

An electrical control panel refers to an enclosure, a plastic molding or metal box that comprises main electrical components that monitor and control a variety of mechanical procedures. The electrical control panel allows the electric system to be more reliable by providing actual-time data of each change happening in the power system and the ability to create changes to transform them into appropriate conditions for tools.

These electric panels are accessible in both outdoor and indoor modes, which makes them weather-resilient in outdoor mode and enables the operators in the field to provide required and emergency inputs. With such a wide range of benefits, these electric control panels are used across various industries such as oil & gas, manufacturing, power generation & circuit components, material handling, and others.

The wide usage of electric panels across different industries creates numerous opportunities for market players. Various enterprises are increasing their investments and introducing new technological advancements to increase their business growth. For instance,

• In March 2024, Schneider Electric announced an investment of USD 140.0 million to expand its manufacturing presence in the U.S. and support critical infrastructure sectors and data centers. The company would manufacture medium voltage power distribution solutions and tailored electrical switchgear to strengthen aid for precarious infrastructure and other industries, which is accelerating the demand for data center solutions across the U.S.

Such investments and developments across different electrical technologies increase the demand for electrical control panels across various industries.

The COVID-19 pandemic had a substantial impact on the electronics sector owing to supply chain disturbances and shipment interruptions for manufacturing tools. As market environments advanced, various sectors and their supply chains also recovered from the disturbance caused by the pandemic, leading to a rise in the electronics market demand across the globe.

Impact of Automation on the Electric Control Panel Market

A huge amount of time and manual effort are wasted in performing tasks manually. Hence, organizations and enterprises miss out on opportunities to automate their business procedures, which can save time for their employees and increase productivity. The automation procedure comprises advanced data collection, electrical design, pneumatic, electromechanical technologies, and PLC (Programmable Logic Controller) that regularly deliver enhanced-quality performance. The industrial and manufacturing production lines and progressions need electrical control panels to protect equipment, enhance productivity, minimize downtime, and meet all safety guidelines and regulations. The automation helps perform both complex and simple processes by using relays, starters, sensors, timers, and controllers. The key benefit of automation in control panels is that they offer better control across the industrial equipment in a facility. Users can experience the ease of a hands-free method and experience high proficiency, flexibility, and functionality with automated control panels.

Furthermore, the usage of artificial intelligence and machine learning algorithms in control panels can help to study historical data, forecast equipment failures, and improve operations in actual time. Moreover, the growth of the Internet of Things (IoT) would lead to enhanced communication and connectivity proficiencies in control panels. It would empower seamless incorporation with other IoT systems and devices, improving complete automation and productivity.

Key Insights

The report covers the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by Key Players


• Impact of Automation on the Global Electric Control Panel


• Consolidated SWOT Analysis of Key Players

Segmentation

Analysis By Application

By application, the electric control panel market is divided into residential, commercial, manufacturing and industrial fields, power plants, and others (agriculture).

Among these, the application of electric control panels is essential for the nervous system of intricate mechanical solutions. Electrical control panels are a needed part of several industries, such as food and beverage, oil and gas, manufacturing, agriculture, and others.

They make sure that every electrical device, system, and machinery is professionally monitored, controlled, and sheltered. The manufacturing procedure can be dangerous and chaotic without the usage of electric control panels. These panels are vital for industrial automation as they continuously monitor various industrial controls and help experts organize and manage their work objectives. They also provide improved reliability by regularly checking equipment and delivering experts with real-time data.

Some other benefits of electric control panels include customizations as per client requirements, the capability to handle complex electric controls, waterproof panels that can be installed in indoor and outdoor areas, protection against electrical shocks, and others. Such added benefits of electric control panels contribute to the market's progress across manufacturing and industrial sectors. Hence, several market players are advancing their solutions with intelligent and digital mechanisms across industrial and manufacturing sectors to cater to the changing client requirements. For instance,

• In November 2023, ABB announced the launch of the Protecta Power panel board to provide reliable and stable power distribution and empower smart electrical distribution within industrial, infrastructure, commercial, and institutional buildings. It incorporates advanced digital control and monitoring mechanisms while increasing durability and safety.

Such developments and advancements drive the progress of electric control panels across industrial and manufacturing sectors.

Regional Analysis

The global electric control panel market is segmented into five regions: North America, South America, Europe, the Middle East & Africa, and Asia Pacific.

Europe held the highest market share as of the year 2023, owing to designed infrastructure and the rising demand for industrial and manufacturing automation. The presence of prominent market players such as Schneider Electric, nVent, ABB, Eaton, and Siemens, among others, contributes to the region's progress in market growth. European countries such as France, Germany, Spain, and the U.K. are investing in technological advancements across industrial automation, manufacturing, and power generation. The region also has high amounts of investments in electronics, industrial simulation, and digital technologies, among others. For instance,

• In November 2023, the European Commission announced its plan to boost investment across the power grid, such as various projects reserved for priority access to licenses and EU funding. Europe would be required to invest USD 637 billion to update its power grids, as per European Union estimates. Several grids are old and need to be modified from the outdated model of big, fossil fuel power plants to solar and wind power generation.

Global Distribution of the Electric Control Panel Market, By Region

• North America – 27%


• South America – 5%


• Europe – 34%


• Middle East and Africa – 10%


• Asia Pacific – 24%

Key Players Covered

The report provides the profiles of key players such as ABB, Rockwell Automation, Bay Power Inc., nVent, Thermon Manufacturing Co., Schneider Electric, Power Industrial Controls, GENERAL ELECTRIC, Eaton, Nextgen Power Controls, and Siemens.

Key Industry Developments

• In April 2024, Schneider Electric unveiled Resi9, an energy center fortified with new energy loads and inputs to secure electrical connections. The intelligent electrical panel safeguards electrical fittings in homes armed with new energy renewables and landscape devices.


• In March 2024, Rockwell Automation announced the availability of its CUBIC portfolio across Asia Pacific regions. CUBIC focuses on IEC-61439-compliant integrated enclosure systems for the construction of electrical and power panels. The CUBIC portfolio serves industries such as mining, renewable energy, chemicals, data centers, infrastructure, and food and beverage.