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Power Management Systems - Global Market Trajectory & Analytics

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    Report

  • 865 Pages
  • February 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4805707

FEATURED COMPANIES

  • ABB Ltd.
  • Brush Group
  • Eaton Corporation Inc.
  • Emerson Electric Company
  • General Electric Company
  • Larsen & Toubro Limited

Global Power Management Systems Market to Reach US$5.2 Billion by the Year 2026


The Power Management System (PMS) is a specially designed technology platform that controls the plant electrical system and electrical switchgear, with the objective to deliver safe and reliable power supply by resolving unsettling influences and power outage issues. PMS design places emphasis on improving the safety, reliability, operability, maintainability, code compliance, and Design Codes of plant electrical system, while acknowledging the relevant IEC standards, and national and local regulations. Growth in the global is set to be driven by numerous growth encouraging factors. While uptrend in key end-use verticals such as data centers, oil & gas, metals & mining, and marine has a strong bearing on market expansion, increased emphasis on industrial automation and roll out of advanced PMS platforms instigated widespread growth of the market. The rise of digital lifestyle and digital economy induced a healthy trajectory in global data center industry, creating large-scale opportunities to various electrical systems markets including PMS, which aid data centers in streamlining their electrical system efficiency and performance. Similarly, stupendous increase in oil & gas sector along with critical requirement of reliable and consistent power in on-shore, off-shore, storage and refinery units, triggered widespread deployments of PMS in oil & gas plants. Likewise, the mining industry's strong lenience towards reliable power sources that eliminate production floor disturbances due to power outages enhanced the market prospects for PMS. Marine sector is another major end-use sector, which accelerated the market momentum in a major way. Shipping activities grew on a large scale during recent decades, due to intensified maritime logistics and also due to marine tourism, while widening the demand for marine PMS.

Amid the COVID-19 crisis, the global market for Power Management Systems estimated at US$4 Billion in the year 2022, is projected to reach a revised size of US$5.2 Billion by 2026, growing at a CAGR of 6.1% over the analysis period. Software, one of the segments analyzed in the report, is projected to grow at a 6.1% CAGR to reach US$2.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hardware segment is readjusted to a revised 6.9% CAGR for the next 7-year period. This segment currently accounts for a 23.4% share of the global Power Management Systems market.



The U.S. Market is Estimated at $836.7 Million in 2022, While China is Forecast to Reach $746.4 Million by 2026


The Power Management Systems market in the U.S. is estimated at US$836.7 Million in the year 2022. The country currently accounts for a 20.94% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$746.4 Million in the year 2026 trailing a CAGR of 8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 5.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR while Rest of European market (as defined in the study) will reach US$174.9 Million by the end of the analysis period.

Higher uptake of PMS by industrial facilities in the developed world is influenced by factors such as strong emphasis on improving the reliability and safety of plant electrical system, inclination towards industry-wide automation to comply with productivity objectives, and reducing overall energy consumption. Energy consumption has emerged as a prime focus area for industrial entities in the US and other developed nations, against the backdrop of rising governmental initiatives to minimize carbon emissions from various sources including factories and plants. Such governmental programs have wielded huge impact on energy management in industrial enterprises across the board, while generating substantial opportunities for PMS. Asia-Pacific (excluding China and Japan) constitutes the second fastest growing regional market. PMS deployments in the Asia-Pacific region are being fueled by growing awareness about power management among industrial entities in the region. Such momentum is especially visible in India, Australia, South Korea, Taiwan, Thailand, and Malaysia. Rising electrification and digitalization have been offset partly due to increased energy efficiency. The emerging economies are estimated to account for the majority of electricity demand growth globally.

Services Segment to Reach $1.7 Billion by 2026


Services constitute a major segment within the world PMS market. Although the full-fledged PMS software and hardware remains at the core of power management program, services play an important role from basic feasibility study through performance evaluation and follow-through actions. Further, importance of PMS services remains highly relevant in managing, maintaining and monitoring of PMS platform. In order to achieve power management objectives, industrial entities focus on a range of services including Project Services, Consultancy Services, Training & Educational Services, and Lifecycle Services. In the global Services segment, USA, Canada, Japan, China and Europe will drive the 5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$776.5 Million will reach a projected size of US$1.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$246.9 Million by the year 2026, while Latin America will expand at a 6.4% CAGR through the analysis period.

Select Competitors (Total 152 Featured) -

  • ABB Ltd.
  • Brush Group
  • Eaton Corporation Inc.
  • Emerson Electric Company
  • ETAP/Operation Technology, Inc.
  • General Electric Company
  • Honeywell International Inc.
  • Larsen & Toubro Limited
  • Mitsubishi Electric Corporation
  • Rockwell Automation, Inc.
  • Schneider Electric SE
  • Siemens AG
  • Wärtsilä Corporation

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the publisher's digital archives and Research Platform
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for Power Management Systems

What is the estimated value of the Global Market for Power Management Systems?

The Global Market for Power Management Systems was estimated to be valued at $4.0 Billion in 2022.

What is the growth rate of the Global Market for Power Management Systems?

The growth rate of the Global Market for Power Management Systems is 6.8%, with an estimated value of $5.2 Billion by 2026.

What is the forecasted size of the Global Market for Power Management Systems?

The Global Market for Power Management Systems is estimated to be worth $5.2 Billion by 2026.

Who are the key companies in the Global Market for Power Management Systems?

Key companies in the Global Market for Power Management Systems include ABB Group, Cpower, Eaton Corporation PLC, Emerson Electric Co., ETAP, Operation Technology, Inc., Fuji Electric Co., Ltd., GE Grid Solutions and Larsen & Toubro Limited.

FEATURED COMPANIES

  • ABB Ltd.
  • Brush Group
  • Eaton Corporation Inc.
  • Emerson Electric Company
  • General Electric Company
  • Larsen & Toubro Limited

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed?
  • Progress on Vaccinations: Why Should Businesses Care?
  • With IMF’s Upward Revision of Global GDP Forecasts, Most Companies are Bullish about an Economic Comeback Despite a Continuing Pandemic
  • EXHIBIT 1: A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • EXHIBIT 2: Easing Unemployment Levels in 2021 Although Moderate Will Infuse Hope for Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2019, 2020, 2021, and 2022
  • Industrial Activity Remain Subdued in 2020
  • EXHIBIT 3: Global PMI Index Points for the Years 2018, 2019 & 2020
  • Pandemic's Effect on the Power Management Systems Market
  • An Introduction to Power Management System (PMS)
  • Power Management Systems: Current Market Scenario and Outlook
  • Growth Drivers
  • While Developing Regions Steer Overall Growth in the PMS Market, Contribution of Developed Regions Remains Relevant
  • EXHIBIT 4: World Power Management Systems Market (2021 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
  • EXHIBIT 5: World Power Management Systems Market - Geographic Regions Ranked by % CAGR (Revenues) for 2020-2027: China, Asia-Pacific, Latin America, Middle East, USA, Canada, Africa, Europe, 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
  • COMPETITIVE SCENARIO
  • PMS: A Fragmented Marketplace
  • Recent Market Activity
  • Select Innovations
  • Select Global Brands
  • EXHIBIT 6: Power Management Systems - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche for 153 Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Select Trends Relevant to the Power Management System Industry
  • Power Efficiency and Management Offer Several Benefits
  • 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
  • EXHIBIT 7: Major Industry 4.0 Technologies: Global Market Size (US$ Billion) for Internet of Things (IoT), Big Data, Smart Factory, Advanced Analytics, Service Robotics, and Smart Machines for 2020
  • Growing Energy Efficiency Needs Amid Escalating Energy Costs Favor PMS Market Expansion
  • Emphasis on Curbing Carbon Emissions Accelerates PMS Deployments
  • After Getting Hit the Hardest, the Clean Energy Segment Bound to Rebound
  • EXHIBIT 8: Global Clean Technologies Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • 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
  • EXHIBIT 9: World Fleet in Millions of Dead-Weight Tons by Principal Vessel Type: 2017 & 2018
  • EXHIBIT 10: Percentage Share Breakdown of World Fleet in Dead-Weight Tonnage by Principal Vessel Type: 2000, 2010 & 2018
  • EXHIBIT 11: Number of Vessels (National Flag & Foreign or International Flag) by Select Countries: 2018
  • EXHIBIT 12: Global Merchant Fleet by Flag of Registration for the Years 2011 through 2018
  • Global Seaborne Trade Statistics
  • EXHIBIT 13: World Seaborne Trade: Total Volume of Goods Loaded in Billion Tons for the Years 2010 through 2018
  • EXHIBIT 14: Seaborne Trade Outlook: Projected Seaborne Trade Volume in Billion Tons for the Years 2020, 2025, 2030 and 2035
  • EXHIBIT 15: 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
  • EXHIBIT 16: New Orders for Standard Vessels Market Worldwide in Deadweight tonnage (DWT) by for the Years 2010, 2012, 2014, 2016 2018, and 2020E
  • EXHIBIT 17: World Seaborne Trade (in Billions of Cargo Ton Miles) for the Years 2015, 2017 and 2019
  • Naval Ships, a Dominant Application Segment: Geopolitical Conflicts & Quest for Military Supremacy Widen the Business Case
  • EXHIBIT 18: Healthy Defense Spending to Amplify the Need for Naval PMS: Projected Defense Budget (In US$ Billion) for the Years 2019, 2021 and 2023
  • Steady Growth Projected for PMS in Oil & Gas Sector
  • EXHIBIT 19: Global Prices of Brent Crude (In US$ Per Barrel) for the Years 2012 through 2021
  • EXHIBIT 20: With Growth Skewed Towards Alternative Liquid Fuels, Oil Refineries Face a High Risk Exposure as the Oil Shake Up Marks the Transition Towards a Low Carbon Economy: Global Liquid Fuel Cumulative Demand Growth (In ‘000 Barrels per Day) by Type for the Years 2018, 2021 & 2023
  • Increase in E&P Spending and Volatility Continue to Shape Strategy for Sustained Demand of Power Management Systems
  • EXHIBIT 21: Global Oil & Gas E&P Industry Spending (2015-2021E)
  • EXHIBIT 22: Global Daily Crude Oil Demand in Million Barrels for the Years 2015 through 2020
  • Sophisticated PMS Gain Traction in Metals and Mining Applications
  • World Metals & Mining Industry by Material Category: A Snapshot
  • EXHIBIT 23: Leading Mining Nations in the World (2022E): Percentage Breakdown of Volume Production for Australia, China, Russia, USA, and Others
  • Established Role of Power Management in Data Centers Builds Market Momentum
  • EXHIBIT 24: Global Datacenter IP Traffic (In Petabytes Per Month) for Years 2017 Through 2022
  • EXHIBIT 25: Global Data Center Market (2013, 2015, 2017, 2019, and 2022): New Floor Space Capacity Additions in Thousand Square Feet
  • EXHIBIT 26: Bandwidth Continues to Explode Even in a Simple Smart Home: Application Requirements of Smart Home/Consumer Apps (In Mbps) by 2023
  • Beyond COVID-19 Lies a New Normal With New Opportunities for Datacenters
  • Demand for Datacenters Surge as Remote Working Becomes the New Normal
  • Technologically Advanced Applications in Power Management
  • Smart Integrated Power Management Solutions
  • Power Management System in Smart Homes
  • Innovations in Power Management ICs
  • Power Management Tools from ENERSYS®
  • BAE Systems’ Power Management Solutions for Air Taxis
  • TAE Technologies Inventive Power Management Strategy Transforms Electric Vehicle Management
  • Review of Generator Sets for Healthcare Settings - A Case in Point

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Power Management Systems Market Presence - Strong/Active/Niche - Key Competitors in the United States for 2022 (E)
  • 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

  • Power Management Systems Market Presence - Strong/Active/Niche - Key Competitors in Europe for 2022 (E)
  • 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: 152

A selection of companies mentioned in this report includes:

  • ABB Ltd.
  • Brush Group
  • Eaton Corporation Inc.
  • Emerson Electric Company
  • ETAP/Operation Technology, Inc.
  • General Electric Company
  • Honeywell International Inc.
  • Larsen & Toubro Limited
  • Mitsubishi Electric Corporation
  • Rockwell Automation, Inc.
  • Schneider Electric SE
  • Siemens AG
  • Wärtsilä Corporation