Current Advances in Power Management System | Opportunities & Challenges

The increasing demand for energy efficiency in the manufacturing sector, rising installation of renewables in industry, and rising adoption of IoT and cloud-based platforms are driving the market for power management systems across the world. The increase in distributed power generation in industries offer new opportunities for the power management system market.

The increase in distributed power generation in industries such as metals and mining, data centers, and oil & gas is also contributing to the growth of the generator control segment. This segment also has a considerable demand in the marine sector due to the increasing demand for efficiency in offshore support vessels.

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The research study of Power Management System further segmented into Type,Module and End-User

Based on type into hardware, software, and services. The software segment is expected to be the largest due to the upgradation of existing software to the latest versions and upcoming technologies.

Based on module into power monitoring and control, load shedding and management, energy cost accounting, switching and safety management, power simulators, generator controls, data historian, and others. The others segment includes fuel consumption monitoring, alarms and annunciators, and consoles. The power monitoring and control module segment is estimated to hold the largest share of the market during the forecast period. The growth in the manufacturing sector in economies such as China and India and the growth in the oil & gas sector in North America are expected to boost the demand for power monitoring and control modules during the forecast period.


By end-user, into oil & gas, marine, chemicals and pharmaceuticals, paper and pulp, metals and mining, utilities, data centers, and others. The others segment includes food & beverage, infrastructure, heavy engineering and automotive, and railway. The marine segment is estimated to hold the largest market share by 2022. The increase in the shipbuilding industry in the Asia Pacific region and Europe is expected to boost the market for this segment during the forecast period.

The power management system market has been analyzed with respect to six regions, namely, North America, Europe, Asia Pacific, South America, the Middle East, and Africa. The market in Asia Pacific is expected to lead the power management system market, by region. The increase in the manufacturing sector along with other industries such as metals and mining and data centers is the key factor driving the power management system market in Asia Pacific. The growth in shipbuilding particularly for offshore support vessels and commercial vessels is another key driver for the growth in the market.

Key Players:
ABB (Switzerland), Siemens (Germany), Eaton (Ireland), GE (US), ETAP (US), Wartsila (Finland), and Mitsubishi (Japan).

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