Power distribution market to reach $7.9 billion by 2030: says AMR
Author: Beatrice
According to the report published by Allied Market Research, the global power distribution unit market was estimated at $4.1 billion in 2020 and is expected to hit $7.9 billion by 2030, registering a CAGR of 6.9% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers and opportunities, market size and estimations, competitive scenario, and varying market trends.
Rise in demand for stable power and increase in focus toward reducing energy losses drive the growth of the power distribution unit market. On the other hand, space constraint and complex wiring systems with increasing number of power distribution units restrain the growth to some extent. However, surge in number of data centres across the globe is projected to create lucrative opportunities in the industry.
COVID-19 scenario
- During the pandemic, the trend of work-from-home has been highly effective for non-manufacturing sectors, which in turn gave way to utilisation of more spaces in data centres. This factor augmented the demand for power distribution units.
- However, dearth of raw materials hampered the production rate of power distribution unit, thereby giving a mixed impact to the global power distribution unit market.
The global power distribution unit market is analysed across type, phase, end-user industry, and region.
Based on type, the metered PDU segment accounted for more than one-fourth of the total market share in 2020, and is expected to rule the roost by 2030. The monitored PDU segment, however, would garner the fastest CAGR of 7.4% throughout the forecast period.
Based on phase, the three segment contributed to nearly three-fifths of the total market revenue in 2020, and is projected to lead the trail by 2030. The same segment would also exhibit the fastest CAGR of 7.0% during the forecast period.
Based on region, the market across North America held the major share in 2020, garnering around two-fifths of the global market. Asia-Pacific, on the other hand, would manifest the fastest CAGR of 9.2% throughout the forecast period.
The key market players analysed in the global power distribution unit market report include Siemon, Leviton, Siemens, Nvent, Powertek, Eaton, Schneider, Raritan, and Vertiv group. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
