Generator Control Panel Market to be dominated by Asia-pacific region through 2027
Supportive regulatory policies to increase investments and
rise in significance of reliable power supply are expected to drive the demand
for the global generator control panel market in the forecast period,
2023-2027.
According to TechSci Research report, “Generator Control Panel
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”,
the global generator control panel market is
anticipated to grow at a robust rate in the forecast period, 2023-2027. A
generator display panel is a display parameter that presents different details
about the generator while the generator is running. The display panel acts as a
user interface of the generator based on its functionality and operation. It
allows the end user to look and check on things such as functions and system
diagnostics. The market is driven by the growing energy requirements across the
globe and the need for a continuous power supply.
The occurrence of
natural calamities or machine errors results in power outages which makes the
residential, commercial, and industrial sectors experience difficulty in
performing daily tasks efficiently. Leading authorities are making efforts to
diminish energy storage technologies to lower such problems. They are in
constant search of technologies that can provide power backup in case of
emergencies, and generators can prove beneficial in providing power supply.
Also, the growing power
demand from the developed and developing countries is increasing the
investments in the production of hydrocarbons. The rise in exploration and
production of oil & gas and the massive demand for generators for power
backup are expected to bolster the global generator control panel market growth
in the coming years.
However, the rise in the
adoption of renewable and energy storage technologies may restrain the global
generator control panel market growth in the forecast period.
The global generator control panel market is segmented into component, fuel, fitting, regional distribution, and competitive
landscape.
Based on the component, the market is
divided into control module, terminal rail, current transformer, and circuit
breaker. The control module segment is expected to account for a significant
market share in the forecast period, 2023-2027. The control module is the main
component of the generator control panel. It is a kind of electronic
programmable logic controller and takes electronic signals to predict what to
do next. The control module is programmable and is modified for different
outcomes for different applications.
Based on fuel, the market is divided
into diesel and gas. The diesel segment is expected to hold the largest market
share in the forecast period. Massive demand from various end-user industries
such as healthcare, manufacturing, oil & gas, IT/telecom, and marine is
driving the segment demand. Diesel generators are easy to install and use,
which makes them more user-friendly than gas gensets. Diesel gensets have long
operational life and are more easily available than natural gas. They are
considered ideal for long-term operations and applications that require
extended runtimes. Developed countries such as the United States, Japan, United
Kingdom, Canada, France, Germany, and the Netherlands are rapidly adopting
advanced technologies, which is expected to fuel the market demand in the
coming years.
Major market players operating in global generator
control panel market are:
- ABB limited
- Advanced Diesel Engineering Ltd.
- Siemens AG
- WoodWard
- Delcot Engineering Private Limited
- Highvolt Power & Control Systems Pvt. Ltd.
- P. Associates
- Rajshree International Manufacturing Pvt. Ltd.
- General Power
- Shiv Power Corporation
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“The Asia-pacific region dominates the market and is
expected to maintain its dominance over the next five years, 2023-2027. High
demand for power products in China and India and the surging demand from the
manufacturing industry owing to rapid industrialization and urbanization in
developing countries are influencing the market demand. Favorable policy
reforms and initiatives are taken by the government are expected to make the
market attractive for the original equipment manufacturers. Also, the rise in the
investments to develop the IT sector and construct data centers by the private
and public market players is expected to bolster the demand for generators in
the region. With the high sales of generators, the demand for the generator
control panel is expected to witness robust growth over the next five years.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Generator Control Panel Market - Global Industry
Size, Share, Trends, Opportunity and Forecast, 2017-2027 Segmented By Component
(Control Module, Terminal Rail, Current transformer, Circuit Breaker), By Fuel
(Diesel, Gas), By Fitting (Standalone, Wall-Mounted, Shelf-Mounted), and By
Region”, has evaluated
the future growth potential of global generator control panel and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global generator control panel market.
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