Electric Control Panel Market Worth $9,096.16 Million, Globally, by 2030 at 6.5% CAGR - Exclusive Report by The Insight Partners

The global electric control panel market research report provides deep dive regional and country level analysis of 18+ countries across 5 key regions, 50+ key company profiles, detailed SWOT and PEST analysis, in-depth market segmentation and industry landscape to provide latest market initiatives and competitive landscape, impact of COVID-19 pandemic on ecosystem.

/EIN News/ -- New York, June 24, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Electric Control Panel Market Forecast to 2030 - COVID-19 Impact and Global Analysis By Form (Enclosed and Open), Type (Low Tension and Medium and High Tension), and Industry (Manufacturing, Chemical, Automotive, Food & Beverages, Power, Oil & Gas, Pharmaceutical, Aerospace & Defense, and Others)”, the global electric control panel market size is expected to grow from US$ 5,507.35 million in 2022 to US$ 9,096.16 million by 2030; it is expected to grow at a CAGR of 6.5% from 2022 to 2030.

Request Sample PDF Brochure of Electric Control Panel Market Size - COVID-19 Impact and Global Analysis with Strategic Developments at: https://www.theinsightpartners.com/sample/TIPRE00015709/

Electric Control Panel Market Report Scope & Strategic Insights:

Report Coverage	Details
Market Size Value in	US$ 5,507.35 million in 2022
Market Size Value by	US$ 9,096.16 million by 2030
Growth rate	CAGR of 6.5% from 2022 to 2030.
Forecast Period	2022-2030
Base Year	2022
No. of Pages	150
No. Tables	83
No. of Charts & Figures	87
Historical data available	Yes
Segments covered	Form, Type, and Industry
Regional scope	North America; Europe; Asia Pacific; Latin America; MEA
Country scope	US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Electric Control Panel Market: Competitive Landscape and Key Developments
Eaton, ABB Ltd., Siemens AG, Rockwell Automation Inc., and Rittal GMBH & Co. Kg are a few key electric control panel market players. Several other major market players were analyzed for a holistic view of the global electric control panel market size and its ecosystem.

Inquiry Before Purchase: https://www.theinsightpartners.com/inquiry/TIPRE00015709/

In 2022, Leviton announced the extension of its award-winning Decora Smart product line, which provides a comprehensive portfolio of Wi-Fi lighting controls with a solution for every room and house. The latest devices have expanded Leviton’s smart lighting control options for customers, including a new No-Neutral Switch and Dimmer for those living in older homes and two new 2nd Gen devices that are compatible with Amazon Alexa, Hey Google, and HomeKit/Siri to address and support user voice assistant preferences.

In 2021, ABB India joined with Indore Smart City Development Ltd (ISCDL) to implement next-generation digital technology that assures uninterrupted power supply to households and businesses.

In electric Control panel market, the increased use of electric control panels in mobile machinery such as cranes, hoisting machines, and elevator controls benefits the market for industrial control panels. Remote I/O (i.e., input/output) panels placed near the applications are also known as ET-extended termination stations. These remote-operated panels terminate all cabling from the field devices and equipment. As remote I/O panels can be moved with the movable gear in the operating field, they can save significant amounts required for wiring. Thus, the growing use of electric panels in mobile machinery boosts the electric panel market.

Have a question? Speak to Research Analyst: https://www.theinsightpartners.com/speak-to-analyst/TIPRE00015709

In the US, Canada, and the European Union, electric control panels (ECPs) must meet several regulatory requirements, including compliance with specified standards and listings. ECPs in the US must adhere to NEC Article 409, section 110.3(B), and ANSI/NFPA 70. A manufacturer can incur overhead costs if the local authorities having jurisdiction (AHJ) identify unapproved panels in the market. In addition to improvements in components that are added to control panels, the manufacturing process of electric control panels has also improved.

Previously, a manufacturer would use a tape measure, straight edge, and marker to manually prepare the layout of each panel, followed by drilling and tapping the panel's holes. This inefficient, time-consuming, and dirty process has now been replaced with AutoCAD, wherein automated drilling systems are deployed to carry out drilling. Furthermore, cordless screwdrivers are used to put self-tapping screws, making panel manufacturing operations easier and faster. The AutoCAD process is not only more efficient and cleaner, but it also leads to the creation of a higher-quality product. Therefore, the need for higher quality control and panel fabrication creates an opportunity for the electric control panel market growth for the players.

The implementation of Industry 4.0 results in full automation of manufacturing processes, requiring little to negligible human interference. Industry 4.0 combines the Industrial Internet of Things (IIoT), cyber-physical systems, cloud robotics, cloud computing, and Big Data. Automation has stirred the industrial sector, drastically changed production practices, and reduced manufacturing time and production costs. Manufacturers rely on Big Data and data analytics to improve the efficiency, productivity, security, and cost-effectiveness of their operations due to the rising popularity and adoption of the IoT and Industry 4.0.

Avail Lucrative DISCOUNTS on “Electric Control Panel Market” Research Study: https://www.theinsightpartners.com/discount/TIPRE00015709/

As many operations are being automated in the manufacturing sector, secure wireless networking has the potential to enable factory automation on a larger scale. Further, the industrial transformation toward digitalization is converting manual processes into digital processes in the manufacturing sector, which is expected to support the electric control panel market growth in the coming years.

Electric Control Panel Market: Impact of COVID-19 Pandemic
Various Asian-Pacific economies witnessed a sharp decline in their gross domestic product (GDP) in 2020 due to the sudden pause in several economic activities. This region has prominent oil & gas, maritime, and telecommunications industries. According to the Organization for Economic Co-operation and Development (OECD), the COVID-19 pandemic severely affected countries such as India, Australia, China, and Japan. India was the worst-hit country by the pandemic in this region. Limitations imposed by governments to control the spread of COVID-19 during the initial stages of the crisis affected the production process in these countries due to the limited workforce availability, which hampered the electric control panel market share in 2020. However, the pandemic had a low impact on the power sector, which contributed to the continued demand for electric control panels.

As economies reopened and industries began their operations in 2021, the need for electric control panels from various end users increased gradually. Further, with large-scale vaccination efforts and ease in social restrictions, companies began to work with high workforce capacities, making the workforce work without fear of getting infected this factor gradually started positively impacting electric control panel market size.

Directly Purchase Premium Copy of Electric Control Panel Market Growth Report (2022-2030) at: https://www.theinsightpartners.com/buy/TIPRE00015709/

Electric Control Panel Market: Form Overview
Based on form, the electric control panel market is bifurcated into enclosed and open. When choosing between an open or enclosed electric control panel, the knowledge of the difference between these two is necessary. Many electric control panel providers offer the option of choosing between these two control panels. The open electric control panel and an enclosed electric control panel are similar, but they do have their differences. Thus, these factors collectively contribute to the growth of communication systems in the electric control panel market share.

Browse Adjoining Reports:
Hydronic Control Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Component (Actuators, Flow Controllers, Valves, Control Panels, and Others); Installation Type (New Installation, and Retrofit Installation); and End-User (Residential, Industrial, and Commercial)

Power Distribution Component Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Switchgear, Switchboard, Distribution Panel, Motor Control Panels, Others); Configuration (Fixed Mounting, Plug-in, Withdrawable); Installation (Indoor, Outdoor); Application (Residential, Commercial, Industrial, Utility) and Geography

Heating, Ventilation, Air Conditioning and Refrigeration (HVAC/R) Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Heating Equipment (Boilers, Furnaces, Heaters and Others); Ventilation Equipment (Air Filter, Duct, Air Ventilator and Others); Air Conditioning Equipment (Chiller, Cooling Tower, Air Conditioner and Others); Ventilation Equipment (Actuators, Control Panels, Sensor & Transducers, Thermostats and Others); Services (Managed Services and Professional Services); and Verticals (Residential, Commercial and Industrial)

Recloser Control Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Type (Electric Control, Hydraulic Control); Phase (Three-Phase, Single-Phase, Triple-Single Phase); Voltage Rating (Up to 15 Kv, 16-27 Kv, 28-38 Kv) and Geography

Traction Control System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Mechanical Linkage, Electrical Linkage); Component (Hydraulic Modulators, ECU [Electric Control Unit], Sensor); VEHICLE TYPE (ICE [Internal Combustion Engine] Vehicles, Electric Vehicles) and Geography

HVAC Systems Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Heating (Heat pumps, Furnaces, Space heaters, Boilers); Cooling (Room Unitary air conditioners, Chillers, VRF systems, Coolers, Others); Ventilation (Air filters, Air purifiers, Centrifugal fans, Roof vent, Ventilation fan, Air handling unit, Others); Implementation (New installation, Retrofit); Application (Residential, Commercial, Industrial) and Geography

Handheld HVAC Monitoring Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Device Type (Temperature and Humidity Meters, Gas Detector, HVAC Multimeter, Airflow Meter, and Pressure Gauge Meter) and Application (Residential, Industrial, and Commercial)

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:
If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/electric-control-panel-market