The global distribution components market is expected to be valued at approximately USD 39,236.6 million in 2022. According to the new report from Future Market Insights, the market is forecasted to grow at a CAGR of 4.4% from 2022 to 2032, potentially reaching USD 60,525.1 million by the end of 2032.
The distribution components market has experienced moderate growth in recent years, primarily driven by the increasing number of residential and infrastructure development projects worldwide. Significant investments in the power generation sector by governments globally are supporting the growth of renewable energy sources. Additionally, rapid urbanization and population growth have led to a surge in new residential construction, further boosting demand for distribution components.
Moreover, the demand for distribution components has risen sharply due to the rapid expansion of the industrial sector and growing public awareness of the need to conserve electricity through the integration of distribution components in electrical systems. The implementation of energy efficiency standards and regulations for public lighting and power systems is also expected to significantly increase the demand for these 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 Million 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 the market share by 2032.
- China is expected to develop at a 6.2% CAGR in the distribution components market during the evaluation period.
- From 2022 to 2032, the India distribution components 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.
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
- Toshiba Corporation
Key Segments Covered In Distribution Components Market Analysis
By Product Type:
- Wiring Devices
- Fire Rated Poke Through
- Floor Boxes
- Cable Glands
- Controls Stations and Covers
- Distribution
- Enclosures
- Brake Modules
- Mobile Electrification
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and the Pacific
- Middle East & Africa
Report Preview: https://www.futuremarketinsights.com/reports/distribution-components-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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