Report : Europe Electric Control Panel Market Forecast to 2030 – COVID-19 Impact and Regional Analysis – by Form (Enclosed and Open), Type (Low Tension and Medium and High Tension), and Industry (Manufacturing, Chemical, Automotive, Food and Beverages, Power, Oil and Gas, Pharmaceutical, Aerospace and Defense, and Others)
At 5.6% CAGR, the Europe Electric Control Panel Market is speculated to be worth US$ 2,055.32 million by 2030, says Business Market Insights
According to Business Market Insights’ research, the Europe electric control panel market was valued at US$ 1,328.71 million in 2022 and is expected to reach US$ 2,055.32 million by 2030, registering an annual growth rate of 5.6% from 2022 to 2030. Increase in use of electric panels in mobile machinery and rise in demand for factory automation are the critical factors attributed to the market expansion.
In the 1970s, the first electronic controllers were employed in relay systems, which were like telephones. The introduction of microprocessors to mobile machinery controls, in the 1980s, led to advanced breakthroughs. A mobile machinery controller is used to control elevators and other mobile machines, while an elevator control panel houses all of the elevator controls. All power supply modules are housed in the elevator control panel, which also orchestrates all operations and assures safety. The elevator control panels also handle operations such as registering or canceling car calls, door control, carload measurement, and speed. Mobile machinery panels allow for quick and exact setup and positioning during commissioning, even for bigger manufacturing facilities, complex or enclosed machines, long materials handling or production lines, and conveyor systems. These panels also help machine operators in ensuring less time for operations such as retooling, maintenance, and repairs. Siemens, for example, offers SIMATIC HMI Mobile Panels with a 4, 7, or 9-inch display and a PROFINET connection. The panels aid greater flexibility and convenience to users. The stunning widescreen display, with a 16:9 aspect ratio and 16 million colors, gives clear, detailed representations of simple and complicated processes along with plant images. Moreover, the unique lighted emergency STOP button, three-step enabling switch, and customizable analysis choices of safety elements support the integration of individual control units within a safety architecture for the mobile machineries. The increased use of electric control panels in mobile machinery such as cranes, hoisting machines, and elevator controls benefits the market for industrial control panels. Remote I/O (i.e., input/output) panels, are positioned near the applications are also known as ET-extended termination stations. These remote operated panels terminate all of the cablings from the field devices and equipment. As remote I/O panels can be moved with the movable gear in the operating field, they can save significant amounts required for wiring. Thus, the growing use of electric panels in mobile machinery boosts the electric panel market.
On the contrary, high replacement and deployment costs, and regulatory non-compliance hurdles the growth of Europe electric control panel market.
Based on form, the Europe electric control panel market is bifurcated into enclosed and open. The open segment held 67.8% market share in 2022, amassing US$ 901.16 million. It is projected to garner US$ 1,431.24 million by 2030 to expand at 6.0% CAGR during 2022–2030.
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 held 78.9% market share in 2022, amassing US$ 1,049.01 million. It is projected to garner US$ 1,665.99 million by 2030 to expand at 6.0% CAGR during 2022–2030.
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 held 26.4% market share in 2022, amassing US$ 350.93 million. It is projected to garner US$ 614.57 million by 2030 to expand at 7.3% CAGR during 2022–2030.
Based on country, the Europe electric control panel market has been categorised into the UK, Germany, France, Italy, Russia, and rest of Europe. Our regional analysis states that Germany captured 24.8% market share in 2022. It was assessed at US$ 329.67 million in 2022 and is likely to hit US$ 589.84 million by 2030, exhibiting a CAGR of 7.5% during the forecast period.
Key players dominating the Europe electric control panel market are ABB Ltd; Cetal; Eaton; Leviton Manufacturing Co., Inc.; Rittal Gmbh & Co. KG; Rockwell Automation, Inc.; Schneider Electric SE; Siemens AG; and SIMON PROtec among others.
- In 2022, Rockwell Automation incorporates new PowerFlex drives into CENTERLINE® Motor Control Centers to provide real-time predictive analytics benefits. The CENTERLINE 2100 NEMA Motor Control Centers (MCCs) combine tough durability and superior quality, integrating control and power into a centralized package.
- In 2020, Siemens AG's intelligent, adaptive infrastructure firm has announced the integration of Control Panel Design into the TIA Selection Tool, adding additional electrical planning tools to the Siemens configuration and ordering software.
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