The Distribution Components Market report, authored by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—unveils profound insights and meticulous analysis of the Distribution Components Market. Encompassing the research’s ambit and essence, the report scrutinizes the driving determinants, market expanse, and predictive statistics for Distribution Components Market. It offers exhaustive breakdowns of revenue and shipment segments, with an extensive 10-year forecast till 2032. Furthermore, the document evaluates pivotal industry players, their market apportionments, the competitive terrain, and regional insights.
In 2022, the market for distribution components is projected to be worth roughly US$ 39,236.6 million. In a recent analysis, Future Market Insights predicted that the market will expand at a CAGR of 4.4% from 2022 to 2032. By the end of 2032, it’s anticipated to be worth US$ 60,525.1 Million.
The recent surge in residential & infrastructure construction projects around the world has mostly been responsible for the market for distribution components’ moderate expansion. Governments from many different nations have made significant investments in the power production industry to encourage the growth of renewable energy sources.
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Besides, demand for distribution components has significantly increased as a result of rapid expansion of the industrial sector throughout the world, as well as rising public awareness regarding the need to save electricity by integrating distribution components into electrical systems. It is also anticipated that the implementation of energy-efficiency norms and regulations for the building of public lighting & power systems will surge the need for distribution components.
Key Takeaways from the Distribution Components Market Study
- Over the course of the forecast period, the controls stations and covers segment is expected to grow at a CAGR of 5.7% and reach around US$ 9,454.3 Mn by 2032.
- By country, the U.S. is expected to remain dominant throughout the forecast period and is anticipated to account for more than 20% of market share by 2032.
- China is expected to develop at a 6.2% CAGR in the market during the evaluation period.
- From 2022 to 2032, the India market is estimated to grow at a CAGR of 6.6%.
- Based on product type, the distribution segment is likely to showcase a moderate growth rate at a CAGR of 3.6% in the evaluation period from 2022 to 2032.
“Power consumption at various production facilities is anticipated to increase as the production capacity surges. Manufacturers nowadays are concentrating on reducing their operational costs through efficient power supply with the use of distribution components for efficient and cost-effective production,” says a Future Market Insights analyst.
Competitive Landscape: Distribution Components Market
The distribution components market is highly fragmented, with top players accounting for less than one third of the global market revenue in 2021. The unorganized sector includes both European and Chinese brands, which are selling their products through local dealers and distributors. European brands mainly depend on their high durability, whereas Chinese brands’ USP remains their significantly lower pricing.
Eaton Corporation, Johnson Electric Holding Ltd, Schneider Electric, ABB Ltd, General Electric, Legrand, Hitachi Ltd, Panasonic Corporation, Leviton, Mitsubishi Electric, Sumitomo Electric Industries, Emerson Electric Co, Fuji Electric, and Toshiba Corporation among others are a few of the major participants in the global market.
Get More Insights into the Distribution Components Market Report
In its latest report, Future Market Insights offers an unbiased analysis of the global distribution components market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022-to 2032. To understand the global market potential, growth, and scope, the market is segmented based on by product type and by region.
Key Segments Covered In Distribution Components Market Analysis:
By Product Type:
- Firstly, Wiring Devices
- Secondly, Fire Rated Poke Through
- Additionally, Floor Boxes
- Moreover, Cable Glands
- Furthermore, Controls Stations and Covers
- Subsequently, Distribution
- Likewise, Enclosures
- Furthermore, Brake Modules
- Lastly, Mobile Electrification
By Region:
- In North America,
- Conversely, in Latin America,
- Similarly, in Europe,
- In contrast, in East Asia,
- Additionally, in South Asia and Pacific,
- Lastly, in the Middle East & Africa,
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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