According to TechSci Research, Global Power Management System Market is expected to reach USD6,113.60 million, growing at a CAGR of 9.08% from 2020-2025. Growth in Global Power Management System Market can be attributed to the rise in demand of electricity across all industries and stringent government regulations regarding energy-efficient usage of power. The power management system decreases production interruptions by offering a constant power supply and escalates the reliability of the power supply system. Additionally, the renewal and replacement of the current gird requires safe and secure operations, which in turn, will boost the market of Global Power Management System.
Global Power Management System Market can be segmented based on type, module, end-use and region. Based on module, the global power management system market can be categorized into power monitoring & control, switching & safety management, data historian, power simulator, generator controls, load shedding and management, energy cost accounting and others. Among them, power monitoring & control dominated the market with a share of 23.68% in 2019 and is expected to maintain its dominance during the forecast years due to its wide application in the industrial sector for measuring and controlling energy requirement, analysis of data, controlling voltage and maintaining overall power.
In terms of end-use, the market is bifurcated in oil & gas, marine, metal and mining, utilities, data centers and others. Among this, oil and gas sector dominates the market with a share of 25.81% in 2019.
Siemens AG, ABB Limited, Mitsubishi Electric Corporation, Eaton Corporation, Emerson Electric, ETAP Automation Pvt. Limited, General Electric Company, Larsen & Toubro, CPower Inc., Rockwell Automation, Inc., Fuji Electric Co. Ltd. are among the leading players in the Global Power Management System Market. Companies operating in the market are using organic strategies such as product and technological advancement through addition of new features, mergers and collaborations to boost their share.
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Asia-Pacific is at the forefront of the Global power management system market and is expected to continue its dominance during the forecast period due to the huge demand of power management system from manufacturing sector. Furthermore, some other factors responsible for the growth of this market include rise in industrialization and government initiatives towards electrification in all parts of the region’s countries such as China, India and Japan.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025
Objective of the Study:
- To analyze and forecast the market size of Power Management System, in terms of value.
- To classify and forecast Global Power Management System based on type, module, end-use and regional distribution.
- To identify drivers and challenges for Global Power Management System Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Global Power Management System Market.
- To conduct the pricing analysis for Power Management System Market.
- To identify and analyze the profile of leading players involved in the manufacturing of Global Power Management System.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of power management system players across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the players which could not be identified due to the limitations of secondary research. TechSci Research analyzed the type, module, end -use and presence of all major power management system players across the region.
TechSci Research calculated Global Power Management System Market size using a bottom-up approach, where data for various end user industries and its application across various types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.
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Key Target Audience:
- Manufacturers of power management systems
- Power system hardware providers
- Dealers and suppliers of power management systems
- End users
- Engineering, procurement, and construction companies in the transmission and distribution sectors
- Research organizations and consulting companies.
- Research institutes
- Industry associations
- Market research and consulting firm
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as collaboration manufacturer, distributors and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, Global Power Management System market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, By Type:
-
- Hardware
- Software
- Service
Market, By Module:
-
- Power Monitoring & Control
- Switching & Safety Management
- Load Shedding & Management
- Energy Cost Accounting
- Generator Controls
- Data Historian
- Power Simulator
- Others
Market, By End Use:
-
- Marine
- Oil & Gas
- Utilities
- Metal & Mining
- Data Centers
- Others
Market, By Region:
-
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Australia
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- Saudi Arabia
- South Africa
- UAE
- Iran
- Iraq
- Asia-Pacific
Competitive Landscape
Company Profiles: Detailed analysis of major companies present in Global Power Management System market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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