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Industrial Control Panel Market
An Industrial control panel is an assembly of two or more components such as motor controllers, switches, circuit breakers, control devices etc. Industrial control panels are used in various end use applications such as operation of motors and drives, security systems, heating, ventilation, air conditioning, production, assembly and conveyance. These industrial control panels contains power circuits, control circuits or a combination of both. The industrial control panels reduce the pricing for wiring and connecting industrial processes and machinery.
The modern industrial processes and production lines require industrial control panels to enhance productivity and reduce lead time. Hence, these industrial control panels are widely used in equipment for machinery manufactured for and circulated in the industrial plants. The purpose of industrial control panel is to control the factory equipment and provide a single collective base of operations for the engineer to control the manufacturing process. The development in connection technology has simplified the design and wiring that is involved in industrial control panel.
The rising demand for factory automation in developing countries is a key driving factor for the global industrial control panel market. The rising number of export and import of industrial control panels have indicated the strong demand especially in South East Asian countries. The rising investment of new buildings and machineries have driven the installation of electrical components for the applications in warehouse, offices, workshops etc. This has positively driven the adoption of industrial control panels in respective applications.
The replacement of old industrial control panels with new will have a positive growth trend in the global market especially in western countries. The rising adoption of industrial control panels in mobile machinery such as crane, lifting machinery, elevator controls, etc. have positively impacted on the global industrial control panel market. Further, the growth renewable energy production and distribution have also positively influenced the installation of new industrial control panels.
The robust industrial control panels for remote applications will have an edge over the adoption when compared with the previous years. The key issue in the industrial control panel is the movement which result in varying environment and grounding means.
The developed regions such as North America and Europe are leading the global industrial control panel market. It is expected that it will remain the same over the forecast period as the adoption of advanced industrial control panel will drive the market. The growth rate of industrial control panels market in Asian countries will remain high and they will pose a strong trend over the forecast period. The intrusion of new manufacturers in Asian countries is expected to enhance the competitiveness of industrial control panel market.
The changes in electrical market requires handling a wide variety of industrial control panel issues. The US market for industrial control panel must comply with the relevant regulations as a minimum requirement.
The rising investment in smart industries will enhance the demand for industrial control panels and hence Asia and Latin America are expected to pose a strong growth momentum for the global industrial control panel market over the forecast period. The manufacturers and installers are having wider opportunity to enhance their revenue by capturing new contracts or orders over the forecast period.
Some of the key market participants in the global industrial control panel market are:
The industrial control panel market research report presents a comprehensive assessment of the industrial control panel market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The industrial control panel market research report provides analysis and information according to market segments such as geographies, type, component type, operation and end use.