Global Remote Power Panel Market expected to reach $1.85 billion by 2033, driven by data centers

From Globenewswire: 2024-06-24 09:00:00

The Global Remote Power Panel Market is projected to grow from USD 1.23 billion in 2023 to USD 1.85 billion by 2033, with a CAGR of 4.17%. Remote power panels are crucial for steady power supply, energy efficiency, and optimal equipment performance, with data centers driving market growth. Floor-standing panels dominate the market due to their larger capacity and versatility. Data centers, especially, require reliable power distribution systems like remote power panels to minimize equipment downtime. The IT & telecom sector holds the largest market share, benefiting from the increasing demand for online services and data centers. North America is expected to lead the market due to infrastructure modernization efforts and the adoption of smart grid technologies, while the Asia Pacific region is projected to be the fastest-growing region, driven by the expanding telecom and IT industries. Key vendors in the market include ABB Ltd, Delta Electronics, Inc., Emerson Electric Co., and Hitachi, Ltd., among others. Recent developments include Legrand’s launch of new intelligent rack PDUs in May 2023, aimed at providing high-quality equipment and enhanced security to customers. Market segmentation is based on type, application, end user, and region. The Global Remote Power Panel Market is analyzed by type (floor-standing, wall-mounted), application (commercial buildings, data centers, hospitals), end user (BFSI, IT & telecom, healthcare, government & defense), and region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa). Other related reports include the Global Microgrid Market and the Global Hydrogen Generation Market, among others.



Read more at Globenewswire: Global Remote Power Panel Market Size To Worth USD 1.85