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Power Management Systems - Global Market Trajectory & Analytics

  • ID: 4805707
  • Report
  • September 2020
  • Region: Global
  • 703 pages
  • Global Industry Analysts, Inc
1 of 3

FEATURED COMPANIES

  • ABB Ltd.
  • Brush Group
  • Eaton Corporation Inc.
  • Emerson Electric Company
  • Etap
  • General Electric Company
  • MORE
The global market for Power Management System is projected to reach US$5.7 billion by 2025, driven by digitalization, electronification and electrification trends sweeping through industries ranging from automotive, maritime transport, oil & gas, mining, heavy engineering to process manufacturing. In sync with digital maturity, electrification and digitalization of everything (DOE) is hitting a peak. On the back of this digital transformation comes the critical need for power management to ensure optimum utilization of power by electrical and electronic systems. With automation, robotics and IoT connectivity proliferating in smart factories around the world, there is a critical need to ensure robustness of electrical systems. Power management systems, in this regard, help improve reliability of electrical distribution and optimize consumption. Plant assets involving hydraulics, electric motors, electrical generators, turbines, and electrical heavy machinery need a mechanism for monitoring power consumption and usage by these myriad equipment. Power management systems enable intelligent monitoring of energy consumed by various electronic/electrical systems; deploy automatic enforcement of power management scheme; ensures timely identification of unusual power consumption patterns and inefficiencies in the system; ensures safety; lowers costs and safeguards against blackouts and unscheduled downtime of assets. Electronification and electrification of vehicles along with the impending commercialization of autonomous cars are pushing up the importance of on-board power management systems for vehicles in the automotive sector. Similarly, the maritime transport industry is also throwing up attractive opportunities for growth supported by a large global maritime transport fleet and an encouraging outlook for seaborne trade.

The heartening outlook for sea trade comes despite the threat of trade wars, protectionist trade policies, and increasing regulations such as the International Maritime Organization (IMO) 2020. Trade patterns will be supported by new trends such as digitalization which will redefine the geography of trade flow. IMO 2020, although will push up the cost of maritime transport, it will also help encourage fleet demolitions and fleet expansion, modernization and upgrades. Owners of inefficient vessels will face the necessity to scrap their ships and upgrade to newer energy efficient fleet to ensure conformance to the regulations. This will push up orders for new generation ships, positively influencing demand for Marine Power Management Systems (PMS). Power management on ships is important in preventing electrical blackout emergency scenarios. A power failure results in failure of engine, steering and deck machinery, and jeopardies a ship`s stability, thereby making power conservation & management an integral part of on-board operations. With vessel electrification being the future of shipping, the new generation of electric, digital and connected ships will present massive opportunity for growth of marine PMS. Also, with the average age of ships in the global fleet approximated to over 21 years, upgrades/replacements/retrofits will be a huge commercial opportunity. General cargo ships will emerge into an attractive pocket of growth with the age of these ships averaging to over 26 years. The United States, China and Europe represent large markets worldwide with a combined share of 52.1% of the market. China also ranks as the fastest growing market with a CAGR of 8.5% over the analysis period supported by the country`s dominance in the global shipbuilding industry. The rise of China as a major maritime power and the largest shipbuilder in terms of gross tonnage and value bodes well for growth in the market. Cumulative shipbuilding orders in the country is among the highest in the world, highlighting the country`s growing global clout in the shipbuilding business.

Competitors identified in this market include, among others:
  • ABB Group
  • Cpower
  • Eaton Corporation PLC
  • Emerson Electric Co.
  • ETAP - Operation Technology, Inc.
  • Fuji Electric Co., Ltd.
  • GE Grid Solutions
  • Honeywell Process Solutions
  • Larsen & Toubro Limited
  • Mitsubishi Electric Corporation
  • Rockwell Automation, Inc.
  • Schneider Electric SA
  • Siemens AG
  • Wartsila Corporation
  • Yokogawa Electric Corporation
Note: Product cover images may vary from those shown
2 of 3

FEATURED COMPANIES

  • ABB Ltd.
  • Brush Group
  • Eaton Corporation Inc.
  • Emerson Electric Company
  • Etap
  • General Electric Company
  • MORE
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • An Introduction to Power Management System (PMS)
  • Power Management Systems: Current Market Scenario and Outlook
  • While Developing Regions Steer Overall Growth in the PMS Market, Contribution of Developed Regions Remains Relevant
  • World Power Management Systems Market (2019 & 2025): Percentage Breakdown of Revenues for Developed and Developing Regions
  • World Power Management Systems Market - Geographic Regions Ranked by % CAGR (Revenues) for 2018-2025: China, Asia-Pacific, USA, Europe, Canada, Middle East, Latin America, Africa, and Japan
  • PMS Software: Dominant Product Segment
  • Cloud Versions Instigate New Demand for PMS Software
  • PMS Services Remains a Major Market Segment
  • Power Monitoring & Control: Core PMS Module
  • Critical Importance of Load Shedding & Management Amplifies Demand
  • Economic Scenario and its Influence on PMS Market
  • Global Economic Outlook: Real GDP Growth Rates (%) by Country/Region for the Years 2018 through 2020
  • COMPETITIVE SCENARIO
  • PMS: A Fragmented Marketplace
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
  • ABB Ltd. (Switzerland)
  • Brush Group (UK)
  • Eaton Corporation Inc. (USA)
  • Emerson Electric Company (USA)
  • Etap (USA)
  • General Electric Company (USA)
  • Honeywell International Inc. (USA)
  • Larsen & Toubro Limited (India)
  • Mitsubishi Electric Corporation (Japan)
  • Rockwell Automation, Inc. (USA)
  • Schneider Electric SE (France)
  • Siemens AG (Germany)
  • Wärtsilä Corporation (Finland)
3. MARKET TRENDS & DRIVERS
  • Sustained Emphasis on Industrial Automation Creates Fertile Environment for Growth and Progress of PMS Market
  • Industry 4.0 to Steer Next Wave of Growth
  • Rising Adoption of Industrial IoT & M2M Technologies Augurs Well
  • Growing Energy Efficiency Needs Amid Escalating Energy Costs Favor PMS Market Expansion
  • Emphasis on Curbing Carbon Emissions Accelerates PMS Deployments
  • Marine Sector: Major Consumer of PMS
  • Steady Growth in Seaborne Trade Volumes and Parallel Increase in Number of Marine Freight Carriers Enhance Marine PMS Demand
  • Global Marine Freight Carrier Statistics
  • World Fleet in Millions of Dead-Weight Tons by Principal Vessel Type: 2017 & 2018
  • Percentage Share Breakdown of World Fleet in Dead-Weight Tonnage by Principal Vessel Type: 2000, 2010 & 2018
  • Number of Vessels (National Flag & Foreign or International Flag) by Select Countries: 2018
  • Global Merchant Fleet by Flag of Registration for the Years 2011 through 2018
  • Global Seaborne Trade Statistics
  • World Seaborne Trade: Total Volume of Goods Loaded in Billion Tons for the Years 2010 through 2018
  • Seaborne Trade Outlook: Projected Seaborne Trade Volume in Billion Tons for the Years 2020, 2025, 2030 and 2035
  • Seaborne Trade of Developing Economies: Percentage of World Tonnage by Goods Loaded and Goods Unloaded for the Years 2010, 2012, 2014, 2016 and 2018
  • Shipbuilding Activity Widens Opportunities for Marine PMS
  • New Orders for Standard Vessels Market Worldwide in Deadweight tonnage (DWT) by for the Years 2010, 2012, 2014, 2016 and 2018
  • New Orders for Standard Vessels Market Worldwide: Percentage Breakdown of Deadweight tonnage (DWT) by Vessel Type for 2014, 2016 and 2018
  • Steady Growth Projected for PMS in Oil & Gas Sector
  • Worldwide E&P Capital Spending in $ Billion by Region and Type of Company for the Period 2017-2019
  • North American E&P Capital Spending in $ Billion by Type of Company (2017-2019)
  • Sophisticated PMS Gain Traction in Metals and Mining Applications
  • World Metals & Mining Industry by Material Category: A Snapshot
  • Leading Mining Nations in the World (2018): Percentage Breakdown of Volume Production for Australia, China, Russia, USA, and Others
  • Established Role of Power Management in Data Centers Builds Market Momentum
  • Global Data Center IP Traffic in Zettabytes for the Years 2016, 2018, 2020, and 2022
  • Global Data Center Market (2013, 2015, 2017, 2019): New Floor Space Capacity Additions in Thousand Square Feet
  • A Review of Select New and Upcoming Mega Data Center Projects
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES
  • Largest Market for Power Management Systems
  • Market Analytics
CANADA

JAPAN
  • PMS Aims to Expand Footprint in the Sprawling Japanese Industrial Sector
  • Market Analytics
CHINA
  • A High Growth Market
  • Market Analytics
EUROPE
  • Major Market for PMS
  • Market Analytics
FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC
  • Fast Paced Growth Projected for PMS in Asia-Pacific
  • Market Analytics
AUSTRALIA

INDIA

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

REST OF MIDDLE EAST

AFRICA

IV. COMPETITION
  • Total Companies Profiled: 39
Note: Product cover images may vary from those shown
3 of 3
  • ABB Ltd.
  • Brush Group
  • Eaton Corporation Inc.
  • Emerson Electric Company
  • Etap
  • General Electric Company
  • Honeywell International Inc.
  • Larsen & Toubro Limited
  • Mitsubishi Electric Corporation
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Siemens AG
  • Wartsila Corporation.
Note: Product cover images may vary from those shown
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