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Due to increased automation, interconnected vehicles, and smart systems in these vehicles, there is an increased need for efficient power distribution modules. In a highly competitive market, OEMs will play a key role. The regions that will hold the majority of the share are North America and East Asia, and companies will invest in these regions in the coming years to grow their business.
Due to increased demand from end user segments, the global power distribution module market is expected to witness surging growth in the coming years. These sectors include construction, automobile, industrial and marine. In automobiles, power distribution module or PDM is used to distribute electricity from the main source to different vehicle equipments that are operated on electricity. There is traction in the market for connected vehicles with an electric power source in the recent past. Many new opportunities will be there due to the shift towards electric vehicles.
Moreover, many manufacturers are focusing on the research and development of modules in order to provide a pool of products based on different current ratings. This will help the players gain confidence and strengthen their market position. Many new opportunities are supplied due to the increase in automation in the power distribution module market. Due to the adoption of new technologies such as self-driving and interconnected cars, there will be enormous opportunities for the power distribution module market. In emerging countries such as India and China, there is a very high adoption rate of these technologies, which is estimated to boost overall global demand for the power distribution modules market. Manufacturers of vehicles are increasingly focusing on innovation and the inclusion of various integrated smart systems in commercial and industrial vehicles. This has resulted in the opening of many new growth avenues for intelligent power distribution modules among Original Equipment Manufacturers in the vehicles market. As a result of the above factor, the power distribution module market will grow at rate of 5.8% during the period from 2020 to 2025. The sales of power distribution module to the OEMs was expected to account for 84% by 2020 end. However, in the after-sales market the power distribution module is expected to expand at a rate of 5.5%. Manufacturers of automobiles are regularly upgrading their product specifications in various aspects with the power distribution and integration of smart systems, which has boosted the sales of power distribution modules to OEMs.
Key market players are focusing on collaborating directly with OEMs to market their products effectively. The largest consumer of the power distribution module is North America, followed by East Asia. Owing to continuous advancement in the automotive industry, the United States is poised to remain the growth epicenter regarding product specification and the inclusion of smart features. As compared to other regions, China is projected to experience increased growth and is set to generate a market valuation of USD 1.1 billion by 2030 end. Countries such as South Asia and Oceania are projected to experience an immersive growth rate of 7.5% and it is backed by mounting demand from the automotive sector, especially in countries such as Thailand, India and Australia. Due to increased vehicle manufacturers in these regions, companies operating in the global power distribution module market have marked their presence. They have adopted strategies such as targeted acquisition and innovative product launches to meet the increasing demand for intelligent power distribution modules across such regions. Due to cloud computing, quick server adoption, and increased spending on industrial projects, the global power distribution unit market is expected to grow significantly. Increased competition among vendors, cloud computing, the evolution of alternating phased power, and virtualization are the key trends in this market, and they are expected to boost the overall market growth. Tracking power usage, reduced overall power consumption, minimizing servers' downtime, and increasing uptime are the key features of power distribution units.
Key Market Players
The key market players the power distribution module market are:
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The report offers a comprehensive insight on the Power Distribution Module Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
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