ELECTRIC CONTROL PANEL MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Key Developments

In April 2024, Schneider Electrica global leader in energy management and automation solutions, focusing on efficiency and sustainability. introduced Resi9, an advanced energy center that enhances electrical connections with new energy loads and inputs. An intelligent electrical panel, Resi9 protects home electrical fittings with the addition of new energy renewables and landscape devices.

In March 2024 Schneider Electric said it will invest another US$ 140 million in expanding its U.S. manufacturing base. The added investment will be channeled toward strengthening support for critical infrastructure sectors and data centers. Its medium-voltage power distribution solutions and custom-built electrical switchgear will focus on strengthening the support for vulnerable infrastructures and other industries targeted at nationwide growth demand for data center solutions.

In March 2024, Rockwell Automation launched its CUBIC portfolio across the Asia Pacific region. CUBIC specializes in integrated enclosure systems in compliance with the IEC-61439 standard for building electrical and power panels. The portfolio serves different industries, which are mining, renewable energy, chemicals, data centers, infrastructure, and food and beverage.

In November 2023, ABB launched Protecta Power panel board product, which offers flexible power distribution in various applications. Commercial, industrial, and institutional buildings will be targeted with this new generation of panel board. Protecta Power panel board utilizes the latest digital monitoring and control technologies integrated into it.

In July 2023, Schneider Electric upgraded its production with enhanced functionality, app-based control, and energy monitoring, providing a cost-effective way to manage home energy and reduce utility costs.