Power Distribution Module Market
Power Distribution Module Market By Type (Sealed, Intelligent), By Sales Channel (First Fit (OEM), Replacement (Aftermarket), By Application (Construction Equipment, Agriculture Equipment, Trucks & Buses, Powersports, Industrial Vehicles, Recreational Vehicles), By Region - Global Forecast 2020-2030
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.
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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.
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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.
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.
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.
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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.
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.
By Product Type :
- Fuse Only
By Sales Channel :
- First Fit (OEM)
- Replacement (Aftermarket)
By Current Rating :
- < 100 Amps
- 100 to 200 Amps
- > 100 Amps
By Application :
- Construction Equipment
- Agriculture Equipment
- Trucks & Buses
- Industrial Vehicles
- Recreational Vehicles
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa (MEA)