Power Distribution Module Market: About the Report
The automobile sector will be where most demand for power distribution modules will come from, followed by the constructing, industrial, and marine sectors. As a result of increasing automation, connected vehicles, and smart systems in vehicles, the need for efficient power distribution modules has surged. The report by Fact.MR further elaborates on how OEMs will play a big part in this highly competitive market landscape. North America and East Asia are regions that will hold most of the market share, and players will look to these regions to grow their businesses over the coming years.
Global Power Distribution Module Market Overview
The global power distribution module market is projected witness mounting growth over the coming years, as a result of increasing demand from end-user segments such as constructing, automobile, industrial, and marine. Power distribution modules, or PDMs in automotive vehicles, are used to distribute electric power that is transferred from a main source to a variety of vehicle equipment, which are operated on electricity. The market for connected vehicles with an electric power source has been gaining traction in the recent past. This shift of preference towards electric vehicles will result in opening up numerous opportunities for the expansion of the power distribution module market size with respect to the automotive end-use segment.
Furthermore, key market players are focusing on research & development of modules in order to provide a pool of products based on different current ratings. This will help them gain USP and strengthen their market position. Moreover, increasing automation is providing immense opportunity for the power distribution modules market to burgeon. Adoption of new technologies such as self-driving and connected cars will exhibit tremendous opportunity for the power distribution module market. Higher rate of adoption of these technologies in emerging economies such as India and China is estimated to boost overall global demand for power distribution modules to 25.3 Mn units by 2030-end.
Power Distribution Module Market Insights by Product Type
Vehicle manufacturers are continuously focusing on innovation and inclusion of various integrated smart systems in commercial and industrial vehicles. This, in turn, has resulted in unlocking more growth avenues for intelligent power distribution module among OEMs in the vehicle market. Aforementioned factor will facilitate market growth at the rate of 6.5% for intelligent power distribution modules during the forecast period 2020-2030,
However, the sealed power distribution module is one of the most prominent segments, and is expected to account for 70% of the market share by reaching a valuation of US$ 2.8 Bn by 2020-end. Hardware, configurable, and fuse only are different types of sealed power distribution modules that are mostly preferred in the automotive and construction industry.
Power Distribution Module Market Insights by Sales Channel
Among the sales channels, sales of power distribution modules to OEMs is expected to account for 84% by 2020-end. However, power distribution modules in the aftersales market is poised to expand at a CARG of 5.5%, and is expected to create an absolute $ opportunity of US$ 500 Mn over forecast period.
Automotive manufacturers are regularly upgrading their product specifications in terms of various aspects associated with power distribution and inclusion of integrated smart systems, which, in turn, has resulted in supporting the sales of power distribution modules to OEMs. Key players in the global power distribution module market are focusing on collaborating directly with vehicle OEMs to market their products effectively.
For more valuable information on the contribution of each sales channel to the global power distribution module market value, ask an expert analyst
Regional Outlook of Power Distribution Module Market
North America currently accounts for the largest consumption, followed by East Asia. The United States is poised to remain growth epicenter for power distribution module market owing to continuous advancement in automotive industry with respect to product specification and inclusion of smart features. Whereas, China is projected to experience leading growth over other regions and is set to generate market valuation worth US$ 1.1 Bn by 2030 end.
On the other hand, countries in South Asia and Oceania are expected to experience an impressive growth rate of 7.5% during the forecast period. This growth is backed by mounting demand from the automotive sector, especially in countries such as India, Thailand, and Australia.
For more valuable insights on regional markets for power distribution modules, request a report sample
Power Distribution Module Market: Competitive Landscape
Players operating in global power distribution module market have anchored their presence across prominent high potential regions due to increased number of vehicle manufacturers in these regions. Players have adopted targeted acquisition strategies and innovative product launches to meet increasing demand for intelligent power distribution modules across high potential regions.
Key players in the power distribution module market are focusing on product innovation and acquisition of regional players to establish their brand presence.
- For instance, Curtis Wright acquired two groups in 2019, namely, Tactical Communications Group (TCG) and 90I Holdings. These acquisitions will ensure long-term financial stability of the company.
- In 2020, Littlefuse expanded its DCN line series of high voltage direct current contactors. This will help systems in reducing coil power and help in high voltage relay switching, and would finally result in efficient power distribution for vehicles.
The Analyst’s Viewpoint
“North America will emerge as the largest market with respect to power distribution modules, as an aftereffect of advancing number of vehicle OEMs in the region.”
COVID-19 Impact on Power Distribution Module Market
The COVID-19 pandemic has limited the growth of the power distribution module market. North America is one of the prominent regions for power distribution modules, and is experiencing maximum fall in demand as it is the most affected region by the outbreak. Furthermore, imposition of lockdowns at regional and global levels has also resulted in decreased demand for power distribution modules.
Power Distribution Module Market - Scope of the Report
Fact.MR recently published a market study on the global market for power distribution modules. The study provides detailed assessment on key market dynamics, including the drivers, trends, opportunities, restraints, and detailed information about the power distribution module market structure. The market study presents exclusive information about how the power distribution module market will grow during the forecast period of 2020-2030.
Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, value chain, supply chain analysis, and Compounded Annual Growth Rate (CAGR) are explained in Fact.MR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the power distribution module market during the forecast period.
The study is relevant for stakeholders in the power distribution module market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the power distribution module market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in the Fact.MR study.
The study also includes statistics as well as facts related to the macro- as well as micro-economic factors that are impacting developments in the power distribution module market. It also offers actionable insights based on the future trends in the power distribution module market. Furthermore, small businesses and new entrants in the power distribution module market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Segments of Power Distribution Module Market
Fact.MR’s study on the power distribution module market offers information divided into five key segments—product type, sales channel, current rating, application, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Key Questions Answered in Fact.MR’s Power Distribution Module Market Report
- Which regions will continue to remain the most profitable regional markets for power distribution module market players?
- Which factors will induce a change in the demand for power distribution modules during the assessment period?
- How will changing trends impact the power distribution module market?
- How can market players capture the low-hanging opportunities in the power distribution module market in developed regions?
- Which companies are leading the power distribution module market?
- What are the winning strategies of stakeholders in the power distribution module market to upscale their position in this landscape?
Power Distribution Module Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the power distribution module market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the preparation of the power distribution module market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
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