PUBLISHER: The Business Research Company | PRODUCT CODE: 1659025
PUBLISHER: The Business Research Company | PRODUCT CODE: 1659025
An electric control panel is a collection of electrical devices powered by electricity, designed to oversee and regulate the mechanical operations of industrial machinery or equipment. Enclosed within enclosures, electric control panels house electrical components crucial for controlling and monitoring diverse mechanical processes.
Electric control panels come in various types, including low tension, medium tension, and high tension. Low-tension control panels are specifically utilized with low-tension cables to receive power from generators or transformers and distribute it to different electrical devices and distribution boards. These panels can be categorized into open and enclosed forms, finding applications across a range of industries such as manufacturing, food and beverages, chemicals, automotive, power generation, pharmaceuticals, oil and gas, as well as aerospace and defense.
The electric control panel market research report is one of a series of new reports from The Business Research Company that provides electric control panel market statistics, including electric control panel industry global market size, regional shares, competitors with an electric control panel market share, detailed electric control panel market segments, market trends and opportunities, and any further data you may need to thrive in the electric control panel industry. This electric control panel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The electric control panel market size has grown strongly in recent years. It will grow from $5.77 billion in 2024 to $6.14 billion in 2025 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to industrial growth, energy demand, customization needs, economic factors, infrastructure development.
The electric control panel market size is expected to see strong growth in the next few years. It will grow to $8.18 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to smart infrastructure development, renewable energy integration, customization and adaptability, digital transformation. Major trends in the forecast period include distributed energy systems, focus on user interface (UI) and user experience (UX), predictive maintenance, cloud integration, energy efficiency and sustainability.
An increase in demand for factory automation is anticipated to drive the growth of the electric control panel market in the future. Factory automation involves integrating automation throughout the production process. The electrical control panel industry is growing due to a heightened emphasis on equipment safety in factory automation. Additionally, the emergence of new industries and machinery has led to the installation of electric control panels in various settings, including workplaces, warehouses, and workshops, to enhance safety. For instance, in September 2024, a report published by the International Federation of Robotics, a Germany-based non-profit organization, revealed that industrial automation robot sales reached 4,281,585 units in 2024, reflecting a 10% increase from 541,302 units in 2023. Thus, the rising demand for factory automation is expected to fuel the growth of the electric control panel market.
The expanding manufacturing industry is anticipated to drive the growth of the electric control panel market in the coming years. The manufacturing industry encompasses the sector of the economy that produces goods by transforming raw materials or components into finished products. Electric control panels are utilized in manufacturing to enhance efficiency, safety, and adaptability to changing production demands, thereby contributing to overall productivity and competitiveness within the sector. For example, in September 2024, a report from the National Association of Manufacturers (NAM), a U.S.-based advocacy group, revealed that value-added output in manufacturing increased from an annual rate of $2.881 trillion in Q1 to $2.910 trillion in Q2 of 2024. In Q2, manufacturing accounted for 10.0% of the total value-added output in the U.S. economy. Additionally, the real value-added output in manufacturing rose from $2.337 trillion at an annual rate in Q1 to $2.384 trillion in Q2. Therefore, the growth of the manufacturing industry is fueling the expansion of the electric control panel market.
Product innovation is a significant trend gaining traction in the electric control panel market. Key players in the industry are creating advanced products equipped with smart monitoring technologies to maintain their competitive edge. For example, in February 2022, ABB Ltd., a Switzerland-based company specializing in electrical control panels, introduced smart monitoring solutions for electric power measurement and monitoring meters. These meters offer basic to comprehensive power quality analysis and precise monitoring of energy assets for residential, industrial, and commercial sectors. The newly launched M1M11, M1M DS, M1M 20B, and M1M 30B models address power quality monitoring requirements within commercial and industrial facilities, fulfilling primary submetering needs in motor control centers, power factor correction boards, or sub-distribution switchboards.
Leading companies in the electric control panel market are innovating products like the Resi9 Energy Center to enhance functionality and address evolving energy management demands. The Resi9 Energy Center is an advanced electrical panel distribution system designed to secure electrical installations in homes equipped with new energy landscape devices and renewable sources. In April 2024, Schneider Electric, a France-based energy management firm, launched the Resi9 Energy Center, a retrofit solution tailored for prosumer homes in France. This system upgrades traditional electrical panels to manage the rising demand for electricity from modern energy sources, such as solar panels and electric vehicle chargers. It seamlessly integrates with existing electrical panels, making it ideal for retrofit and renovation projects.
In April 2023, HIMOINSA S.L., a Spain-based manufacturer of diesel and gas generator sets, acquired Powersil for an undisclosed amount. Through this acquisition, HIMOINSA S.L. aims to implement a broader growth strategy that strengthens its position in the power generation market while enhancing industrial, technical, and service capabilities. Powersil is a Portugal-based manufacturer of electric control panels and generator sets.
Major companies operating in the electric control panel market are ABB Ltd., Siemens AG, Eaton Corporation PLC, Rockwell Automation Inc., SIMON PROtec Deutschland GmbH, General Electric Company, Leviton Manufacturing Company Inc., Paneltronics Inc., CETAL SAS, Bectrol Inc., Penbro Kelnick (Pty) Ltd., Konark Automation, B&B Assemblies LLC, Schneider Electric SE, Honeywell International Incorporation, Emerson Electric Company, Simplex System Controls Inc., Walther Electric Inc., Horlick Technologies LLC, Avatar Instruments Corporation, Mitsubishi Electric Factory Automation, AmSafe Inc., Precision Mfg. Co. Inc., Custom Manufacturing & Engineering Inc., Rittal GmbH & Co. KG, Phoenix Contact GmbH & Co. KG, Chint Group Co. Ltd., WEG Electric Corporation, Delta Electronics Inc., Fuji Electric Co. Ltd.
Asia-Pacific was the largest region in the electric control panel market share in 2024. The regions covered in the electric control panel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the electric control panel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The electric control panel market consists of sales of virtual control panels, remote control panels, and physical control panel products. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Electric Control Panel Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on electric control panel market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for electric control panel ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electric control panel market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.