This report describes and explains the electric control panel market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global electric control panel market reached a value of nearly $5.77 billion in 2024, having grown at a compound annual growth rate (CAGR) of 5.62% since 2019. The market is expected to grow from $5.77 billion in 2024 to $7.87 billion in 2029 at a rate of 6.40%. The market is then expected to grow at a CAGR of 6.09% from 2029 and reach $10.57 billion in 2034.
Growth in the historic period resulted from the increasing demand for automation, increase in renewable energy projects, rising demand from the automotive industry and rising demand in the oil and gas industry. Factors that negatively affected growth in the historic period were stringent safety regulations and lack of standardization.
Going forward, the expansion of water and wastewater treatment plants, growth of the power generation industry, expansion of data centers and favorable government initiatives will drive the growth. Factor that could hinder the growth of the electric control panel market in the future include fluctuating raw material prices, high initial costs and impact of trade war and tariff.
Asia-Pacific was the largest region in the electric control panel market, accounting for 42.97% or $2.47 billion of the total in 2024. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the electric control panel market will be Asia-Pacific and Middle East where growth will be at CAGRs of 6.72% and 6.44% respectively. These will be followed by Middle East and North America where the markets are expected to grow at CAGRs of 6.28% and 6.27% respectively.
The global electric control panel market is fairly fragmented, with a large number of small players operating in the market. The top 10 competitors in the market made up 21.66% of the total market in 2024. Siemens AG was the largest competitor with a 2.71% share of the market, followed by Schneider Electric SE with 2.66%, ABB Group with 2.52%, Rockwell Automation Inc. with 2.50%, Eaton Corporation plc with 2.48%, General Electric Company (GE) with 2.46%, Mitsubishi Electric Corporation with 1.76%, Emerson Electric Company with 1.74%, Honeywell International Incorporation with 1.57% and Fuji Electric Co. Ltd. with 1.26%.
The electric control panel market is segmented by type into low tension, medium tension and high tension. The medium tension market was the largest segment of the electric control panel market segmented by type, accounting for 45.94% or $2.65 billion of the total in 2024. Going forward, the medium tension segment is expected to be the fastest growing segment in the electric control panel market segmented by type, at a CAGR of 6.42% during 2024-2029.
The electric control panel market is segmented by form into open and enclosed. The enclosed market was the largest segment of the electric control panel market segmented by form, accounting for 71.68% or $4.13 billion of the total in 2024. Going forward, the enclosed segment is expected to be the fastest growing segment in the electric control panel market segmented by form, at a CAGR of 6.82% during 2024-2029.
The electric control panel market is segmented by industry into manufacturing, food and beverages, chemical, automotive, power, pharmaceutical, oil and gas, aerospace and defense and other industries. The manufacturing market was the largest segment of the electric control panel market segmented by industry, accounting for 27.17% or $1.56 billion of the total in 2024. Going forward, the automotive segment is expected to be the fastest growing segment in the electric control panel market segmented by industry, at a CAGR of 8.10% during 2024-2029.
The top opportunities in the electric control panel markets segmented by type will arise in the medium tension segment, which will gain $966.95 million of global annual sales by 2029. The top opportunities in the electric control panel markets segmented by form will arise in the enclosed segment, which will gain $1.61 billion of global annual sales by 2029. The top opportunities in the electric control panel markets segmented by industry will arise in the manufacturing segment, which will gain $618.67 million of global annual sales by 2029. The electric control panel market size will gain the most in China at $542.54 million.
To take advantage of the opportunities, the analyst recommends the electric control panel market companies to focus on software-based control solutions for smarter energy management, focus on developing residential energy management platforms for smart homes, focus on retrofittable solutions to support prosumer energy demands, focus on smart and flexible power distribution for industrial automation, focus on low tension segment to capture fastest growing opportunity, focus on enclosed panels to drive market leadership and safety compliance, expand in emerging markets, provide competitively priced offerings, focus on tiered pricing to serve diverse industrial requirements, continue to use B2B promotions, focus on technical promotion to reach engineers and industrial buyers, focus on dealer support and visibility to strengthen market reach, focus on manufacturing segment to strengthen market dominance and operational efficiency.
Market-trend-based strategies for the electric control panel market include advancing energy control through software-driven panel innovations, enhanced control panel design through innovation and digital workflows, smart home panels revolutionize residential energy control, modernizing electrical panels to meet renewable energy demands and innovative power distribution system enhances remote monitoring.
Player-adopted strategies in the electric control panel market include focus on expanding its business capabilities through new product launch to expand its operational capabilities and through partnership to expand its operational capabilities.
To take advantage of the opportunities, the analyst recommends the electric control panel market companies to focus on software-based control solutions for smarter energy management, focus on developing residential energy management platforms for smart homes, focus on retrofittable solutions to support prosumer energy demands, focus on smart and flexible power distribution for industrial automation, focus on low tension segment to capture fastest growing opportunity, focus on enclosed panels to drive market leadership and safety compliance, expand in emerging markets, provide competitively priced offerings, focus on tiered pricing to serve diverse industrial requirements, continue to use B2B promotions, focus on technical promotion to reach engineers and industrial buyers, focus on dealer support and visibility to strengthen market reach, focus on manufacturing segment to strengthen market dominance and operational efficiency.
The global electric control panel market reached a value of nearly $5.77 billion in 2024, having grown at a compound annual growth rate (CAGR) of 5.62% since 2019. The market is expected to grow from $5.77 billion in 2024 to $7.87 billion in 2029 at a rate of 6.40%. The market is then expected to grow at a CAGR of 6.09% from 2029 and reach $10.57 billion in 2034.
Growth in the historic period resulted from the increasing demand for automation, increase in renewable energy projects, rising demand from the automotive industry and rising demand in the oil and gas industry. Factors that negatively affected growth in the historic period were stringent safety regulations and lack of standardization.
Going forward, the expansion of water and wastewater treatment plants, growth of the power generation industry, expansion of data centers and favorable government initiatives will drive the growth. Factor that could hinder the growth of the electric control panel market in the future include fluctuating raw material prices, high initial costs and impact of trade war and tariff.
Asia-Pacific was the largest region in the electric control panel market, accounting for 42.97% or $2.47 billion of the total in 2024. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the electric control panel market will be Asia-Pacific and Middle East where growth will be at CAGRs of 6.72% and 6.44% respectively. These will be followed by Middle East and North America where the markets are expected to grow at CAGRs of 6.28% and 6.27% respectively.
The global electric control panel market is fairly fragmented, with a large number of small players operating in the market. The top 10 competitors in the market made up 21.66% of the total market in 2024. Siemens AG was the largest competitor with a 2.71% share of the market, followed by Schneider Electric SE with 2.66%, ABB Group with 2.52%, Rockwell Automation Inc. with 2.50%, Eaton Corporation plc with 2.48%, General Electric Company (GE) with 2.46%, Mitsubishi Electric Corporation with 1.76%, Emerson Electric Company with 1.74%, Honeywell International Incorporation with 1.57% and Fuji Electric Co. Ltd. with 1.26%.
The electric control panel market is segmented by type into low tension, medium tension and high tension. The medium tension market was the largest segment of the electric control panel market segmented by type, accounting for 45.94% or $2.65 billion of the total in 2024. Going forward, the medium tension segment is expected to be the fastest growing segment in the electric control panel market segmented by type, at a CAGR of 6.42% during 2024-2029.
The electric control panel market is segmented by form into open and enclosed. The enclosed market was the largest segment of the electric control panel market segmented by form, accounting for 71.68% or $4.13 billion of the total in 2024. Going forward, the enclosed segment is expected to be the fastest growing segment in the electric control panel market segmented by form, at a CAGR of 6.82% during 2024-2029.
The electric control panel market is segmented by industry into manufacturing, food and beverages, chemical, automotive, power, pharmaceutical, oil and gas, aerospace and defense and other industries. The manufacturing market was the largest segment of the electric control panel market segmented by industry, accounting for 27.17% or $1.56 billion of the total in 2024. Going forward, the automotive segment is expected to be the fastest growing segment in the electric control panel market segmented by industry, at a CAGR of 8.10% during 2024-2029.
The top opportunities in the electric control panel markets segmented by type will arise in the medium tension segment, which will gain $966.95 million of global annual sales by 2029. The top opportunities in the electric control panel markets segmented by form will arise in the enclosed segment, which will gain $1.61 billion of global annual sales by 2029. The top opportunities in the electric control panel markets segmented by industry will arise in the manufacturing segment, which will gain $618.67 million of global annual sales by 2029. The electric control panel market size will gain the most in China at $542.54 million.
To take advantage of the opportunities, the analyst recommends the electric control panel market companies to focus on software-based control solutions for smarter energy management, focus on developing residential energy management platforms for smart homes, focus on retrofittable solutions to support prosumer energy demands, focus on smart and flexible power distribution for industrial automation, focus on low tension segment to capture fastest growing opportunity, focus on enclosed panels to drive market leadership and safety compliance, expand in emerging markets, provide competitively priced offerings, focus on tiered pricing to serve diverse industrial requirements, continue to use B2B promotions, focus on technical promotion to reach engineers and industrial buyers, focus on dealer support and visibility to strengthen market reach, focus on manufacturing segment to strengthen market dominance and operational efficiency.
Market-trend-based strategies for the electric control panel market include advancing energy control through software-driven panel innovations, enhanced control panel design through innovation and digital workflows, smart home panels revolutionize residential energy control, modernizing electrical panels to meet renewable energy demands and innovative power distribution system enhances remote monitoring.
Player-adopted strategies in the electric control panel market include focus on expanding its business capabilities through new product launch to expand its operational capabilities and through partnership to expand its operational capabilities.
To take advantage of the opportunities, the analyst recommends the electric control panel market companies to focus on software-based control solutions for smarter energy management, focus on developing residential energy management platforms for smart homes, focus on retrofittable solutions to support prosumer energy demands, focus on smart and flexible power distribution for industrial automation, focus on low tension segment to capture fastest growing opportunity, focus on enclosed panels to drive market leadership and safety compliance, expand in emerging markets, provide competitively priced offerings, focus on tiered pricing to serve diverse industrial requirements, continue to use B2B promotions, focus on technical promotion to reach engineers and industrial buyers, focus on dealer support and visibility to strengthen market reach, focus on manufacturing segment to strengthen market dominance and operational efficiency.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Global Electric Control Panel Growth Analysis and Strategic Analysis Framework
9 Global Electric Control Panel Market Segmentation
10 Electric Control Panel Market, Regional and Country Analysis
11 Asia-Pacific Market
12 Western Europe Market
13 Eastern Europe Market
14 North America Market
15 South America Market
16 Middle East Market
17 Africa Market
18 Competitive Landscape and Company Profiles
19 Other Major and Innovative Companies
22 Key Mergers and Acquisitions
23 Recent Developments in the Electric Control Panel Market
24 Opportunities and Strategies
25 Electric Control Panel Market, Conclusions and Recommendations
26 Appendix
Executive Summary
Electric Control Panel Global Market Opportunities and Strategies to 2034 provides the strategists; marketers and senior management with the critical information they need to assess the global electric control panel market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for electric control panel? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The electric control panel market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider electric control panel market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by form and by industry.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Growth Analysis and Strategic Analysis Framework - Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Global Market Size and Growth - Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis - Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by type, by form and by industry in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth - Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies - Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Recent Developments - Information on recent developments in the market covered in the report.
- Market Opportunities and Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to electric control panel be followed in those markets.
- Conclusions and Recommendations: This section includes recommendations for electric control panel market providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By Type: Low Tension; Medium Tension; High Tension2) By Form: Open Form; Enclosed Form
3) By Industry: Manufacturing; Food and Beverages; Chemical; Automotive; Power; Pharmaceutical; Oil and Gas; Aerospace and Defense; Other Industries
Companies Mentioned: Siemens AG; Schneider Electric SE; ABB Group; Rockwell Automation Inc; Eaton Corporation plc
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; electric control panel indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
The companies featured in this Electric Control Panel market report include:- Siemens AG
- Schneider Electric SE
- ABB Group
- Rockwell Automation Inc.
- Eaton Corporation plc
- General Electric Company (GE)
- Mitsubishi Electric Corporation
- Emerson Electric Company
- Honeywell International Incorporation
- Fuji Electric Co. Ltd.
- Lacroix Group
- CETAL SAS
- RITTAL GmbH & Co. KG
- WAGO GmbH & Co. KG
- Lovato Electric S.p.A.
- ABB S.p.A.
- Elettronica Conduttori S.r.l.
- ZIV Automation
- Circutor S.A.
- Control Systems Ltd.
- Lacroix Group
- CETAL SAS
- Lovato Electric S.p.A.
- Elettronica Conduttori S.r.l.
- ZIV Automation
- Circutor S.A.
- Control Systems Ltd.
- OEZ s.r.o.
- ELCOM, a.s.
- ELEKTRO-FA. Příbram spol. s.r.o.
- ZPUE S.A.
- Apator S.A.
- Electroalfa
- Energomontaj Grup SRL
- Electro Sistem
- EKF Electrotechnica
- Tavrida Electric
- Solution Control Systems Inc.
- EBI Electric
- Inotech Canada Inc.
- Ardea Technologies
- Manco Control Systems
- Control Innovations Inc.
- Grupo ORSIMEX
- E-Abel
- IndustLabs
- Paneltek LLC
- OEM Panels
- Cypress Industries
- Power Industrial Controls
- Enercon Engineering
- Schmersal
- Emerson Electric Co.
- OMRON
- WEG
- Ardan Katzenstein Engineering Ltd.
- Horizontech Electrical Panel Board Systems
- Yelin Eser Elektrik Imalat Ins. Taah. Ltd. Şti.
- Teknopan Pano Elektrik Elek. Malz. San. Tic. Ltd. Şti.
- Sah Pano Elektrik Pano Imalati
- Prime Electrical Manufacturing
- Sama Al Emirate Electrical Panels Manufacturing LLC
- Prima Electric
- Sidra Group
- AGEC Engineering
- Mikano International Limited
- Energo Nigeria Ltd
- PowerPro Company Ltd
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 319 |
| Published | September 2025 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value ( USD | $ 5.77 Billion |
| Forecasted Market Value ( USD | $ 10.57 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 69 |
