Europe Electric Control Panel Market Forecast to 2030 - COVID-19 Impact and Regional Analysis - by Form, Type, and Industry

The Europe electric control panel market is expected to grow from US$ 1,328.71 million in 2022 to US$ 2,055.32 million by 2030; it is estimated to grow at a CAGR of 5.6% from 2022 to 2030.

Factory automation in manufacturing environments frequently employs pneumatic systems, hydraulic systems, and robotic arms to produce a more complicated system. Superior energy efficiency, stringent safety regulations, and better design result in outstanding production levels in automated factories. Moreover, automation can help lower process costs and ensure workers’ safety in adverse environments. An electrical control panel is a group of electrical devices that regulate the mechanical functioning of industrial machinery or equipment. The existing renewable energy sources (RES) system is integrated with digital information processing and enhanced telemetry systems in the smart grid SCADA system. The rising integration and automation of the electric microgrid and utility grids presents new energy management development aspects. The rise in demand for factory automation serves as a significant driving force for the electric control panel market. Additionally, increased investments in new construction and production prompt the expansion of electrical installations in warehouses, factories, distribution facilities, etc. The implementation of control panels in renewable energy production and distribution applications is another area of revenue growth for the electric control panel market players. The surging export and import of industrial control panels have been an indicator of high demand for this equipment, notably in developing countries. To remain competitive in their respective markets, many industrial firms need to upgrade important equipment. Thus, the whole replacement or rebuilding of obsolete industrial control panels with newer components will contribute to a surge in several developed countries. Thus, these factors are increasing the demand for factory automation and driving the market.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe electric control panel market. The Europe electric control panel market is expected to grow at a good CAGR during the forecast period.

Europe Electric Control Panel Market Segmentation

The Europe electric control panel market is segmented based on form, type, industry, and country.

• Based on form, the Europe electric control panel market is bifurcated into enclosed and open. The open segment dominated the market in 2022.
• Based on type, the Europe electric control panel market is bifurcated into low tension and medium and high tension. The medium and high-tension segment dominated the market in 2022.
• Based on industry, the Europe electric control panel market is segmented into manufacturing, chemical, automotive, food and beverages, power, oil and gas, pharmaceutical, aerospace and defense, and others. The power segment dominated the market in 2022.
• Based on country, the Europe electric control panel market is segmented into the UK, Germany, France, Italy, Russia, and the Rest of Europe. Germany would dominate the market in 2022.

ABB Ltd; Cetal; Eaton; Leviton Manufacturing Co., Inc.; Rittal Gmbh & Co. KG; Rockwell Automation, Inc.; Schneider Electric SE; Siemens AG; and SIMON PROtec are among the leading companies in the Europe electric control panel market.