ELECTRIC CONTROL PANEL MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Key Takeaways from Analyst
The growing industrial automation across major industries such as oil & gas, chemical, food & beverage, pharmaceutical and others will drive the demand for electric control panels. Further, the need for centralized monitoring and controlling of industrial operations is pushing industries to adopt electric control panels. Asia pacific dominates the electric control panel market currently. However, North America is expected to be the fastest growing market due to rapid industrialization and increasing manufacturing activities in countries like China and India. The focus on reducing manufacturing costs through automation solutions offers huge opportunities in Asia Pacific.
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