Published Date: 31-May-2023
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According to a new report, published by KBV research, 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.
The Wall Mounted segment is showcasing a CAGR of 6.4% during (2023 - 2029). This is due to the fact that compact wall-mounted panels only take up a slight space on the floor. In addition, wall-mounted panels can also be swiftly and easily installed onto a wall or other vertical surfaces, saving time and money in the installation process. Hence, owing to these characteristics, the segment's growth is expected to propel.
The Data Centers segment is leading the Global Remote Power Panel Market by Application in 2022 thereby, achieving a market value of $692.4 million by 2029. This is because data centers, particularly those on the cloud, are very flexible regarding computer resources. RPPs offer greater control over the data center's equipment power by distributing power from PDUs and other pertinent power sources straight to server racks. In addition, they enable businesses, particularly those moving their data center, to distribute electrical panels more easily across the building. Hence, these factors will drive the segment’s growth.
The North America market dominated the Global Remote Power Panel 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. The Asia Pacific market is exhibiting a CAGR of 5.9% during (2023 - 2029). Additionally, The Europe market would experience a CAGR of 5% during (2023 - 2029).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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