The Global Remote Power Panel Market size is expected to reach $1.5 billion by 2029, rising at a market growth of 5.2% CAGR during the forecast period.
Asia Pacific region is one of the major contributors to the market because all industries are moving toward internet-based industrial operations as the region's countries industrialize quickly. In addition, investments in data centers and the industrial sector's privatization are soaring. Therefore, APAC accounted for $277.2 million revenue of the market in 2022. The deployment of remote power panels, which can greatly reduce the amount of energy used by the telecommunications industry and consequently spur market expansion, is one example of an activity that can be taken to maximize energy savings. Some of the factors impacting the market are rising digital technologies adoption in the IT sector, reducing the carbon footprint of data centers, and a decline in RPP use due to technological developments in power distribution systems.
Digitalization is transforming how clients see organizations and the products they have to provide in the IT sector. Established players use cutting-edge technologies and novel concepts to get an advantage over their competitors. These factors support market expansion. Data centers generate a sizable amount of carbon emissions and are heavy water and electricity users. Investors now have the chance to secure data centers with carbon-free energy sources due to these innovations. Thus, the market expansion will be boosted by the aforementioned causes. However, due to their many advantages, data centers are progressively incorporating various power distribution structural designs that use overhead busway distribution systems for power distribution. Thus, it is anticipated that the market expansion will be hampered by the decreased usage of remote power panels due to the extra advantages offered by the power distribution systems.
Based on type, the market is segmented into wall-mounted and floor-standing. The floor-standing segment dominated the market with maximum revenue share in 2022. This is because it is possible to install freestanding or bolted-down floor-standing remote power panels. They can hold more circuit breakers and other electrical components than wall-mounted panels since they are often larger and more durable. Also, the segment's expansion is boosted by other factors like their high-power capacity, improved durability, and flexible installation advantages.
On the basis of application, the market is divided into data centers, network cabinets and server rooms. The server rooms segment procured a promising growth rate in the market in 2022. This is owing to the fact that remote power panels are versatile and adaptive to changing power requirements. Also, they can perform this task without causing substantial downtime in server rooms as they may be set up to handle a variety of power capacities. This adaptability is anticipated to support segment’s expansion during the projected period.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Eaton Corporation PLC, Toshiba Corporation, Lyntec, Vertiv Holdings Co., Schneider Electric SE, Delta Electronics, Inc., Anord Mardix (Flex Ltd.), Lutron Electronics Co., Inc. and Socomec.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 1 Billion |
| Market size forecast in 2029 | USD 1.5 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2029 |
| Revenue Growth Rate | CAGR of 5.2% from 2023 to 2029 |
| Number of Pages | 155 |
| Number of Table | 250 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed the largest revenue share in the market in 2022. This is attributed to the rising new innovations and developing trends, joined with the continually changing data center sector in North America. Also, several important trends drive the market, including the rise in hyperscale, edge computing, modular data centers, and the increasing demand for efficient power distribution.
Free Valuable Insights: Global Remote Power Panel Market size to reach USD 1.5 Billion by 2029
By Type
By Application
By Geography
The Market size is projected to reach USD 1.5 billion by 2029.
Rising digital technologies adoption in the IT sector are driving the Market in coming years, however, A decline in RPP use due to technological developments in power distribution systems restraints the growth of the Market.
ABB Group, Eaton Corporation PLC, Toshiba Corporation, Lyntec, Vertiv Holdings Co., Schneider Electric SE, Delta Electronics, Inc., Anord Mardix (Flex Ltd.), Lutron Electronics Co., Inc. and Socomec.
The Data Centers segment is leading the Market by Application in 2022 thereby, achieving a market value of $692.4 million by 2029.
The North America market dominated the Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $547.3 million by 2029.
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