Power Management System Market

Power Management System Market by Type (Hardware, Software, Services), Module (Power Monitoring, Load Shedding, Power Simulator, Generator Controls), End-User (Oil & Gas, Marine, Metals & Mining, Data Centers) and Region - Global Forecast to 2028

Report Code: EP 5881 Jul, 2023, by marketsandmarkets.com

[169 Pages Report] The power management system market is expected to grow from an estimated USD 5.8 billion in 2023 to USD 7.5 billion by 2028, at a CAGR of 5.4% during the forecast period. The increasing demand for energy efficiency in the industrial sector, and rising adoption of IoT and cloud-based platforms are driving the market for power management systems globally.

Power Management System Market

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Power Management System Market

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Market Dynamics

Driver: increasing demand for energy efficiency

Modern businesses are witnessing a changing trend of energy consumption. The major players are focusing on energy costs and environmental concerns as key part of their strategy. The power management system supervises and controls power generation for efficient working of power networks. It also rearranges generation, importation, and loading in such a manner that individual generators, reactors, transformers, and tie-lines operate within specified limits. This affects the bottom line of the enterprise significantly and reduces the operating cost by 10%–25%.

Power management systems are installed in energy-intensive sectors such as oil & gas, petrochemicals, refineries, offshore platforms, and large industrial complexes to optimize the energy cost. In an industrial setup, it is essential to improve efficiency as motors consume 65% of the total energy supplied. A power management system monitors and analyzes such loads and can automatically block large motors to optimize the load on the power systems.

Restraint: Risk to data security

The increasing data security threat is a major challenge for the growth of the power management system market. Increasing occurrences of viruses and cyber-attack instances have led to security concerns. Important information can be stolen by malicious viruses in computer systems, which can cause a major loss to industries. The entire information flow could be disrupted if proper security measures are not implemented by the IoT infrastructure providers and cloud platform providers. With increasing dependence on web-based data interchange and off-the-shelf IT solutions, the digital infrastructure networks are prone to malware that is targeted at industrial systems. Due to the rise in cyber-attacks on critical infrastructure in the past decade, cybersecurity has become a prime concern among industrial automation users and vendors.

Opportunity: Rise in distributed power generation

Power systems are becoming less centralized with the adoption of distributed energy resources and new options for power generation. The demand for energy from distributed energy resources is growing due to many factors such as power quality problems, planned rolling blackouts, unexpected utility power outages, and increase in power costs, among others.

Power management systems are widely employed in distributed generation for generator control functions such as generator start and stop, generator frequency and voltage control, diesel or natural gas consumption optimization, and other functions. Distributed generation of electricity that is consumed on-site reduces the amount of electricity that needs to be delivered to a customer through the network. Under certain circumstances, these changes can create a network benefit, primarily by reducing peak demands and transmission and distribution losses on the network, thereby avoiding the need for network businesses to invest in augmentation or maintenance of the network. The industrial end-users have started generating their power based on distributed generation sources to cater to peak loads from unconventional energy sources. This helps the industries to reduce energy cost and resolves environmental concerns.

Challenge: Lack of compatibility with legacy power networks & equipment

Power management systems are more expensive than conventional SCADA systems. However, they offer several benefits in the long term such as better efficiency, reduced cost, and load management. Due to these benefits, a number of industrial and power end-users are focusing on retrofitting their existing setup with power management system. However, this creates interoperability issues. The additional retrofits often do not support the older technology in industrial plants that are more than 15 years old. Due to this, the older industrial setup prefers an advanced SCADA system to fulfill their power management needs. Therefore, this lack of compatibility has created a major challenge for retrofitting existing industrial setup with power management system.

Power management system  Market Ecosystem

Prominent companies in this market include well-established, financially stable manufacturers of Power management system  Market and components. These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in this market include ABB (Switzerland), General Electric (US), Siemens (Germany), Schneider Electric (France), Emerson Electric (US).

Power Management System Market

Generator Controls is expected to be the second largest market on based on module

The Generator Controls module is a critical component of a Power Management System (PMS) that specifically focuses on the monitoring, control, and optimization of electrical generators. In various applications, such as industrial plants, data centers, ships, and critical facilities, generators play a vital role in providing backup power during outages or supporting the main power grid during peak demand periods.

Paper & Pulp, by end user industry, to hold the second fastest market share during the forecast period during the forecast period

The Paper & Pulp industry can derive several significant benefits from implementing power management systems (PMS). This industry is known for its energy-intensive operations and requires a reliable and efficient power supply to support various processes involved in papermaking and pulp production.

North America is expected to account for the largest market size during the forecast period.

According to the Short-Term Energy Outlook by the EIA, coal consumption in the United States is projected to decrease in 2022, with power plants expected to consume 482 million short tons of coal, which is lower than the 501 million short tons consumed in 2021. This decline in consumption can be attributed mainly to supply limitations, including problems with rail transportation and a restricted availability of coal.

Furthermore, the report forecasts that renewable energy will play an increasingly significant role in the generation of electricity in the United States. It is estimated that renewable sources will account for 22% of U.S. electricity in 2022 and further increase to 24% in 2023, compared to 20% in 2021.

In addition, the US, Canada, and Mexico signed an agreement with the objective of generating 50% of electricity from clean energy sources by 2025. The subsequent improvement in the oil & gas market and investments in the metal and mining sector are expected to drive the power management system market in the region.

Power Management System Market  Size, and Share

Key Market Players

The power management system  market is dominated by a few major players that have a wide regional presence. The major players in the power management system  market are ABB (Switzerland), General Electric (US), Siemens (Germany), Schneider Electric (France), Emerson Electric (US). Between 2018 and 2022, Strategies such as product launches, contracts, agreements, partnerships, collaborations, alliances, acquisitions, and expansions are followed by these companies to capture a larger share of the power management system market.

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Scope of the Report

Report Metric

Details

Market size available for years

2021–2028

Base year considered

2022

Forecast period

2024–2028

Forecast units

Value (USD)

Segments covered

Type, Module, End User Industry, and Region

Geographies covered

Asia Pacific, North America, Europe, Middle East & Africa, and South America

Companies covered

ABB (Switzerland), General Electric (US), Siemens (Germany), Eaton (Ireland), Schneider Electric (France), Emerson Electric (US), Mitsubishi Electric (Japan), Rockwell Automation (US), Honeywell International Inc. (US), Fuji Electric (Japan), Larsen & Toubro (India), Yokogawa (Japan), Wartsila (Finland), Cpower (UK), Brush (UK), Albireo Energy (US), Greystone Energy Systems Inc. (Canada), Omron (Japan), Lineage Power (India)

This research report categorizes the power management system market by type, end user industry, module, and region

On the basis of type, the power management system market has been segmented as follows:
  • Hardware
  • Software
  • Services
On the basis of end- user industry, the power management system market has been segmented as follows:
  • Oil & Gas
  • Marine
  • Chemical & Petrochemical
  • Paper & Pulp
  • Metal & Mining
  • Utilities
  • Data Centre
  • Others
On the basis of by module, the power management system market has been segmented as follows:
  • Power Monitoring & Control
  • Load Shedding & Management
  • Energy cost accounting
  • Switching & Safety Management
  • Power Simulator
  • Generator Controls
  • Data Historian
  • Others
On the basis of region, the power management system market has been segmented as follows:
  • Asia Pacific
  • Europe
  • North America
  • Middle East & Africa
  • South America

Recent Developments

  • In June 2023, Eve Systems GmbH, a Munich-based company known for its smart home products in Europe and the United States, has been successfully acquired by ABB. With this acquisition, ABB will now establish itself as a prominent player in the smart home industry, particularly in products based on the latest interoperating standard called Matter and wireless connectivity technology known as Thread.
  • In June 2022, GE Digital has introduced the Accelerator product line, which consists of exceptional software tools. These tools aim to assist companies operating in energy industries with significant assets by facilitating the configuration of their Asset Performance Management (APM) and other solutions. The GE Digital Accelerators are specifically developed to enhance the speed at which companies can realize value, expand the implementation of APM to various assets, and enable enterprises to generate financial benefits throughout their facilities and across the entire organization.
  • In October 2021, Siemens Smart Infrastructure has successfully finalized the purchase of Wattsense, a French startup specializing in hardware and software solutions. Wattsense provides a cutting-edge, plug-and-play IoT management system designed for small and mid-size buildings.
  • In September 2022, In India, Schneider Electric has introduced EcoStruxure Service Plans, a fresh service offering. The objective of this launch is to provide comprehensive packages accompanied by robust digital services customized to meet specific customer requirements. With this new service offering, Schneider Electric aims to enhance its customers' maintenance budgets by up to 40% and reduce the risk of electrical failures by up to 75% on connected equipment.

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 23)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 MARKET SCOPE 
           1.3.1 MARKET SEGMENTATION
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
    1.5 LIMITATIONS 
    1.6 STAKEHOLDERS 
    1.7 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY (Page No. - 27)
    2.1 RESEARCH DATA 
           FIGURE 1 POWER MANAGEMENT SYSTEM MARKET: RESEARCH DESIGN
    2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 
           2.2.1 SECONDARY DATA
           2.2.2 PRIMARY DATA
                    2.2.2.1 Key data from primary sources
                    2.2.2.2 Key industry insights
                    2.2.2.3 Breakdown of primaries
                               FIGURE 2 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, & REGION
    2.3 STUDY SCOPE 
           FIGURE 3 MAIN METRICS CONSIDERED TO ANALYZE AND ASSESS DEMAND FOR POWER MANAGEMENT SYSTEMS
    2.4 MARKET SIZE ESTIMATION 
           FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
           2.4.1 DEMAND-SIDE ANALYSIS
                    2.4.1.1 Regional analysis
                    2.4.1.2 Country-level analysis
                    2.4.1.3 Assumptions for demand-side analysis
                    2.4.1.4 Calculations for demand-side analysis
           2.4.2 SUPPLY-SIDE ANALYSIS
                    FIGURE 6 KEY STEPS CONSIDERED TO ASSESS SUPPLY-SIDE OF ENERGY MANAGEMENT SYSTEMS
                    FIGURE 7 POWER MANAGEMENT SYSTEM MARKET: SUPPLY-SIDE ANALYSIS
                    2.4.2.1 Calculations for supply-side analysis
                    2.4.2.2 Assumptions for supply-side analysis
                               FIGURE 8 COMPANY REVENUE ANALYSIS, 2022
    2.5 RESEARCH ASSUMPTIONS 
           2.5.1 FORECAST
    2.6 RISK ASSESSMENT 
    2.7 RECESSION IMPACT 
 
3 EXECUTIVE SUMMARY (Page No. - 39)
    TABLE 1 POWER MANAGEMENT SYSTEM MARKET SNAPSHOT 
    FIGURE 9 ASIA PACIFIC TO BE FASTEST-GROWING MARKET FOR POWER MANAGEMENT SYSTEMS FROM 2023 TO 2028 
    FIGURE 10 SOFTWARE SEGMENT TO HOLD LARGEST SHARE OF POWER MANAGEMENT SYSTEM MARKET, BY TYPE, IN 2028 
    FIGURE 11 MARINE SEGMENT TO DOMINATE POWER MANAGEMENT SYSTEM MARKET, BY END-USER INDUSTRY, IN 2023 
    FIGURE 12 POWER MONITORING & CONTROL SEGMENT TO CAPTURE LARGEST SHARE OF POWER MANAGEMENT SYSTEM MARKET, BY MODULE, THROUGHOUT FORECAST PERIOD 
 
4 PREMIUM INSIGHTS (Page No. - 43)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN POWER MANAGEMENT SYSTEM MARKET 
           FIGURE 13 RISING ADOPTION OF RENEWABLE ENERGY SOURCES TO GENERATE ELECTRICITY TO DRIVE MARKET
    4.2 POWER MANAGEMENT SYSTEM MARKET IN NORTH AMERICA, BY END-USER INDUSTRY AND COUNTRY 
           FIGURE 14 OIL & GAS INDUSTRY AND US DOMINATED POWER MANAGEMENT SYSTEM MARKET IN NORTH AMERICA IN 2022
    4.3 POWER MANAGEMENT SYSTEM MARKET, BY TYPE 
           FIGURE 15 SOFTWARE SEGMENT TO HOLD LARGEST MARKET SHARE IN 2028
    4.4 POWER MANAGEMENT SYSTEM MARKET, BY MODULE 
           FIGURE 16 POWER MONITORING & CONTROL SEGMENT TO CAPTURE MAJORITY OF MARKET SHARE IN 2028
    4.5 POWER MANAGEMENT SYSTEM MARKET, BY END-USER INDUSTRY 
           FIGURE 17 OIL & GAS INDUSTRY TO LEAD POWER MANAGEMENT SYSTEM MARKET IN 2028
 
5 MARKET OVERVIEW (Page No. - 46)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 18 POWER MANAGEMENT SYSTEM MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Increasing demand for energy-efficient equipment across several industries
                               TABLE 2 GLOBAL ENERGY PERFORMANCE STANDARDS
                    5.2.1.2 Rising adoption of renewable sources to reduce energy costs
                               TABLE 3 AVERAGE COST OF DEPLOYMENT, BY TECHNOLOGY, 2015 VS. 2025
                    5.2.1.3 Growing implementation of Iot and cloud-based platforms
           5.2.2 RESTRAINTS
                    5.2.2.1 Data security issues in cloud-based power management systems
                               FIGURE 19 ATTACK VECTOR PERCENTAGE FOR CLOUD-BASED POWER MANAGEMENT SYSTEMS
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Rising use of distributed power generation
                    5.2.3.2 Increasing investments in offshore support vessel production
           5.2.4 CHALLENGES
                    5.2.4.1 Incompatibility of older power networks with new equipment
    5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 
           5.3.1 REVENUE SHIFTS AND NEW REVENUE POCKETS FOR POWER MANAGEMENT SYSTEM MANUFACTURERS
                    FIGURE 20 NEW REVENUE POCKETS FOR PLAYERS IN ECOSYSTEM
    5.4 ECOSYSTEM MAPPING 
           FIGURE 21 POWER MANAGEMENT SYSTEM MARKET MAPPING
           TABLE 4 ROLE OF PLAYERS IN ECOSYSTEM
    5.5 VALUE CHAIN ANALYSIS 
           FIGURE 22 POWER MANAGEMENT SYSTEMS MARKET: VALUE CHAIN ANALYSIS
           5.5.1 RAW MATERIAL PROVIDERS/SUPPLIERS
           5.5.2 COMPONENT MANUFACTURERS
           5.5.3 POWER MANAGEMENT SYSTEM MANUFACTURERS/ASSEMBLERS
           5.5.4 DISTRIBUTORS/END-USER INDUSTRIES
           5.5.5 POST-SALES SERVICE PROVIDERS
    5.6 AVERAGE SELLING PRICE (ASP) ANALYSIS 
           TABLE 5 PRICING ANALYSIS OF POWER MONITORING DEVICES
    5.7 PORTER’S FIVE FORCES ANALYSIS 
           FIGURE 23 PORTER’S FIVE FORCES ANALYSIS FOR POWER MANAGEMENT SYSTEM MARKET
           TABLE 6 POWER MANAGEMENT SYSTEM MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.7.1 THREAT OF SUBSTITUTES
           5.7.2 BARGAINING POWER OF SUPPLIERS
           5.7.3 BARGAINING POWER OF BUYERS
           5.7.4 THREAT OF NEW ENTRANTS
           5.7.5 INTENSITY OF COMPETITIVE RIVALRY
    5.8 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.8.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 24 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 END-USER INDUSTRIES
                    TABLE 7 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 END-USER INDUSTRIES
    5.9 BUYING CRITERIA 
           FIGURE 25 IMPACT OF KEY STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 END-USER INDUSTRIES
           TABLE 8 KEY BUYING CRITERIA FOR TOP 3 END-USER INDUSTRIES
 
6 POWER MANAGEMENT SYSTEM MARKET, BY MODULE (Page No. - 60)
    6.1 INTRODUCTION 
           FIGURE 26 POWER MONITORING & CONTROL MODULES LED POWER MANAGEMENT SYSTEM MARKET IN 2022
           TABLE 9 POWER MANAGEMENT SYSTEM MARKET, BY MODULE, 2021–2028 (USD MILLION)
    6.2 POWER MONITORING & CONTROL 
           6.2.1 INCREASING ADOPTION OF POWER MONITORING & CONTROL MODULES BY ENERGY-INTENSIVE INDUSTRIES TO DRIVE MARKET
                    TABLE 10 POWER MONITORING & CONTROL: POWER MANAGEMENT SYSTEM MARKET, BY END-USER INDUSTRY, 2021–2028 (USD MILLION)
    6.3 LOAD SHEDDING & MANAGEMENT 
           6.3.1 RISING USE OF LOAD SHEDDING & MANAGEMENT MODULES TO OPTIMIZE LOAD DISTRIBUTION TO FUEL MARKET GROWTH
                    TABLE 11 LOAD SHEDDING & MANAGEMENT: POWER MANAGEMENT SYSTEM MARKET, BY END-USER INDUSTRY, 2021–2028 (USD MILLION)
    6.4 ENERGY COST ACCOUNTING 
           6.4.1 GROWING FOCUS ON CALCULATING AND OPTIMIZING ENERGY COSTS TO INCREASE DEMAND FOR ENERGY COST ACCOUNTING MODULES
                    TABLE 12 ENERGY COST ACCOUNTING: POWER MANAGEMENT SYSTEM MARKET, BY END-USER INDUSTRY, 2021–2028 (USD MILLION)
    6.5 SWITCHING & SAFETY MANAGEMENT 
           6.5.1 INCREASING DEPLOYMENT OF SWITCHING & SAFETY MANAGEMENT MODULES TO AUTOMATE FAULT DETECTION AND OTHER SAFETY FUNCTIONS TO FUEL MARKET GROWTH
                    TABLE 13 SWITCHING & SAFETY MANAGEMENT: POWER MANAGEMENT SYSTEM MARKET, BY END-USER INDUSTRY, 2021–2028 (USD MILLION)
    6.6 POWER SIMULATION SYSTEM 
           6.6.1 RISING USE OF POWER SIMULATORS TO PERFORM HARMONICS SIMULATION AND RELIABILITY ASSESSMENT FUNCTIONS TO CONTRIBUTE TO MARKET GROWTH
                    TABLE 14 POWER SIMULATION SYSTEM: POWER MANAGEMENT SYSTEM MARKET, BY END-USER INDUSTRY, 2021–2028 (USD MILLION)
    6.7 GENERATOR CONTROL 
           6.7.1 SURGING ADOPTION OF GENERATOR CONTROL MODULES FOR GENERATOR PROTECTION AND FUEL OPTIMIZATION TO SUPPORT MARKET GROWTH
                    TABLE 15 GENERATOR CONTROL: POWER MANAGEMENT SYSTEM MARKET, BY END-USER INDUSTRY, 2021–2028 (USD MILLION)
    6.8 DATA HISTORIAN 
           6.8.1 INCREASING ADOPTION OF DATA HISTORIAN MODULES TO MANAGE VAST DATA VOLUMES IN POWER MANAGEMENT SYSTEMS TO DRIVE MARKET
                    TABLE 16 DATA HISTORIAN: POWER MANAGEMENT SYSTEM MARKET, BY END-USER INDUSTRY, 2021–2028 (USD MILLION)
    6.9 OTHER MODULES 
           TABLE 17 OTHER MODULES: POWER MANAGEMENT SYSTEM MARKET, BY END-USER INDUSTRY, 2021–2028 (USD MILLION)
 
7 POWER MANAGEMENT SYSTEM MARKET, BY TYPE (Page No. - 69)
    7.1 INTRODUCTION 
           FIGURE 27 SOFTWARE SEGMENT DOMINATED POWER MANAGEMENT SYSTEM MARKET IN 2022
           TABLE 18 POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
    7.2 HARDWARE 
           7.2.1 RETROFITTING OF OLDER MANUFACTURING PLANTS AND MARINE VESSELS TO BOOST DEMAND FOR HARDWARE PRODUCTS
                    TABLE 19 HARDWARE: POWER MANAGEMENT SYSTEM MARKET, BY REGION, 2021–2028 (USD MILLION)
    7.3 SOFTWARE 
           7.3.1 UTILIZATION OF SOFTWARE TO CONFIGURE POWER SETTINGS AND AUTOMATE ENERGY-SAVING FEATURES TO DRIVE SEGMENTAL GROWTH
                    TABLE 20 SOFTWARE: POWER MANAGEMENT SYSTEM MARKET, BY REGION, 2021–2028 (USD MILLION)
    7.4 SERVICES 
           7.4.1 INCREASED DEMAND FOR CUSTOMIZED POWER MANAGEMENT SOLUTIONS TO CREATE OPPORTUNITIES FOR SERVICE PROVIDERS
                    TABLE 21 SERVICES: POWER MANAGEMENT SYSTEM MARKET, BY REGION, 2021–2028 (USD MILLION)
 
8 POWER MANAGEMENT SYSTEM MARKET, BY REGION (Page No. - 73)
    8.1 INTRODUCTION 
           FIGURE 28 ASIA PACIFIC TO RECORD HIGHEST CAGR IN POWER MANAGEMENT SYSTEM MARKET DURING FORECAST PERIOD
           FIGURE 29 NORTH AMERICA COMMANDED POWER MANAGEMENT SYSTEM MARKET IN 2022
           TABLE 22 POWER MANAGEMENT SYSTEM MARKET, BY REGION, 2021–2028 (USD MILLION)
    8.2 NORTH AMERICA 
           8.2.1 RECESSION IMPACT ON MARKET IN NORTH AMERICA
                    FIGURE 30 NORTH AMERICA: MARKET SNAPSHOT
           8.2.2 BY TYPE
                    TABLE 23 NORTH AMERICA: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
           8.2.3 BY END-USER INDUSTRY
                    TABLE 24 NORTH AMERICA: POWER MANAGEMENT SYSTEM MARKET, BY END-USER, 2021–2028 (USD MILLION)
           8.2.4 BY COUNTRY
                    TABLE 25 NORTH AMERICA: POWER MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
                    8.2.4.1 US
                               8.2.4.1.1 Utilization of wind and solar energy to generate electricity to boost demand for power management systems
                                            TABLE 26 US: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.2.4.2 Mexico
                               8.2.4.2.1 Oil & gas and metals & mining industries to contribute significantly to market growth
                                            TABLE 27 MEXICO: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.2.4.3 Canada
                               8.2.4.3.1 Focus of government on modernization of grid infrastructure to present opportunities to power management system vendors
                                            TABLE 28 CANADA: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
    8.3 ASIA PACIFIC 
           8.3.1 RECESSION IMPACT ON MARKET IN ASIA PACIFIC
                    FIGURE 31 ASIA PACIFIC: MARKET SNAPSHOT
           8.3.2 BY TYPE
                    TABLE 29 ASIA PACIFIC: POWER MANAGEMENT SYSTEM, BY TYPE, 2021–2028 (USD MILLION)
           8.3.3 BY END-USER INDUSTRY
                    TABLE 30 ASIA PACIFIC: POWER MANAGEMENT SYSTEM, BY END-USER INDUSTRY, 2021–2028 (USD MILLION)
           8.3.4 BY COUNTRY
                    TABLE 31 ASIA PACIFIC: POWER MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
                    8.3.4.1 China
                               8.3.4.1.1 Rising investments in generating power using renewable sources to fuel demand for power management systems
                                            TABLE 32 CHINA: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.3.4.2 Japan
                               8.3.4.2.1 Increasing focus on grid infrastructure improvement to boost demand for power management systems
                                            TABLE 33 JAPAN: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.3.4.3 India
                               8.3.4.3.1 Deployment of wind and solar energy projects to support high demand for power management systems
                                            TABLE 34 INDIA: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.3.4.4 South Korea
                               8.3.4.4.1 Presence of ship and offshore support vessel manufacturers to support market growth
                                            TABLE 35 SOUTH KOREA: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.3.4.5 Rest of Asia Pacific
                               TABLE 36 REST OF ASIA PACIFIC: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
    8.4 EUROPE 
           8.4.1 RECESSION IMPACT ON MARKET IN EUROPE
           8.4.2 BY TYPE
                    TABLE 37 EUROPE: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
           8.4.3 BY END-USER INDUSTRY
                    TABLE 38 EUROPE: POWER MANAGEMENT SYSTEM MARKET, BY END-USER INDUSTRY, 2021–2028 (USD MILLION)
           8.4.4 BY COUNTRY
                    TABLE 39 EUROPE: POWER MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
                    8.4.4.1 Russia
                               8.4.4.1.1 Booming mining industry to drive deployment of power management systems
                                            TABLE 40 RUSSIA: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.4.4.2 UK
                               8.4.4.2.1 Carbon neutrality goals set by government to accelerate adoption of power management systems
                                            TABLE 41 UK: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.4.4.3 Germany
                               8.4.4.3.1 Incentive and energy efficiency programs run by government to drive market
                                            TABLE 42 GERMANY: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.4.4.4 France
                               8.4.4.4.1 Growing focus on generating electricity using renewable sources to contribute to market growth
                                            TABLE 43 FRANCE: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.4.4.5 Norway
                               8.4.4.5.1 Presence of robust shipbuilding industry to boost implementation of power management systems
                                            TABLE 44 NORWAY: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.4.4.6 Italy
                               8.4.4.6.1 Availability of subsidies and low-interest loans to deploy energy-efficient equipment at commercial sites to fuel market growth
                                            TABLE 45 ITALY: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.4.4.7 Rest of Europe
                               TABLE 46 REST OF EUROPE: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
    8.5 MIDDLE EAST & AFRICA 
           8.5.1 RECESSION IMPACT ON MARKET IN MIDDLE EAST & AFRICA
           8.5.2 BY TYPE
                    TABLE 47 MIDDLE EAST & AFRICA: POWER MANAGEMENT SYSTEM, BY TYPE, 2021–2028 (USD MILLION)
           8.5.3 BY END-USER INDUSTRY
                    TABLE 48 MIDDLE EAST & AFRICA: POWER MANAGEMENT SYSTEM, BY END-USER INDUSTRY, 2021–2028 (USD MILLION)
           8.5.4 BY COUNTRY
                    TABLE 49 MIDDLE EAST & AFRICA: POWER MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
                    8.5.4.1 Saudi Arabia
                               8.5.4.1.1 Increasing use of digital technologies in oil & gas facilities to fuel demand for power management systems
                                            TABLE 50 SAUDI ARABIA: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.5.4.2 UAE
                               8.5.4.2.1 Presence of oil reserves and oil-producing firms to boost implementation of power management systems
                                            TABLE 51 UAE: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.5.4.3 Qatar
                               8.5.4.3.1 Significant focus on reducing energy cost to accelerate adoption of power management systems
                                            TABLE 52 QATAR: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.5.4.4 Kuwait
                               8.5.4.4.1 Growing investments in oil and gas exploration activities to fuel market growth
                                            TABLE 53 KUWAIT: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.5.4.5 South Africa
                               8.5.4.5.1 Increasing use of energy-saving technologies in mining facilities to drive market
                                            TABLE 54 SOUTH AFRICA: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.5.4.6 Nigeria
                               8.5.4.6.1 Rising focus of oil-producing firms on efficient operations to support increasing demand for power management systems
                                            TABLE 55 NIGERIA: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.5.4.7 Egypt
                               8.5.4.7.1 Increased focus on adding renewable energy capacity to contribute to market growth
                                            TABLE 56 EGYPT: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.5.4.8 Rest of Middle East & Africa
                               TABLE 57 REST OF MIDDLE EAST & AFRICA: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
    8.6 SOUTH AMERICA 
           8.6.1 RECESSION IMPACT ON MARKET IN SOUTH AMERICA
           8.6.2 BY TYPE
                    TABLE 58 SOUTH AMERICA: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
           8.6.3 BY END-USER INDUSTRY
                    TABLE 59 SOUTH AMERICA: POWER MANAGEMENT SYSTEM MARKET, BY END-USER INDUSTRY, 2021–2028 (USD MILLION)
           8.6.4 BY COUNTRY
                    TABLE 60 SOUTH AMERICA: POWER MANAGEMENT SYSTEM MARKET, BY COUNTRY, 2021–2028 (USD MILLION)
                    8.6.4.1 Brazil
                               8.6.4.1.1 Booming metals & mining industry to fuel demand for power management systems
                                            TABLE 61 BRAZIL: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.6.4.2 Colombia
                               8.6.4.2.1 Increasing investments in power generation projects to drive market
                                            TABLE 62 COLOMBIA: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.6.4.3 Argentina
                               8.6.4.3.1 Rising use of renewable energy sources to generate electricity to fuel market growth
                                            TABLE 63 ARGENTINA: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
                    8.6.4.4 Rest of South America
                               TABLE 64 REST OF SOUTH AMERICA: POWER MANAGEMENT SYSTEM MARKET, BY TYPE, 2021–2028 (USD MILLION)
 
9 COMPETITIVE LANDSCAPE (Page No. - 102)
    9.1 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS 
           TABLE 65 OVERVIEW OF MAJOR STRATEGIES ADOPTED BY TOP PLAYERS, 2018–2022
    9.2 MARKET SHARE ANALYSIS OF TOP 5 PLAYERS 
           FIGURE 32 DEGREE OF COMPETITION, 2022
    9.3 REVENUE ANALYSIS OF TOP 5 MARKET PLAYERS 
           FIGURE 33 REVENUE ANALYSIS FOR TOP PLAYERS IN POWER MANAGEMENT SYSTEM MARKET FROM 2018 TO 2022
    9.4 COMPANY EVALUATION MATRIX 
           9.4.1 STARS
           9.4.2 PERVASIVE PLAYERS
           9.4.3 EMERGING LEADERS
           9.4.4 PARTICIPANTS
                    FIGURE 34 COMPANY EVALUATION MATRIX, 2022
    9.5 COMPANY FOOTPRINT 
           TABLE 66 COMPANY TYPE FOOTPRINT
           TABLE 67 COMPANY END-USER INDUSTRY FOOTPRINT
           TABLE 68 COMPANY REGION FOOTPRINT
           TABLE 69 OVERALL COMPANY FOOTPRINT
    9.6 COMPETITIVE SCENARIO 
           TABLE 70 POWER MANAGEMENT SYSTEM MARKET: PRODUCT LAUNCHES, JANUARY 2020–JULY 2023
           TABLE 71 POWER MANAGEMENT SYSTEM MARKET: DEALS, JANUARY 2019–JULY 2023
           TABLE 72 POWER MANAGEMENT SYSTEM MARKET: OTHERS, JANUARY 2019–JULY 2023
 
10 COMPANY PROFILES (Page No. - 115)
(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)*
     10.1 ABB 
               TABLE 73 ABB: COMPANY OVERVIEW
               FIGURE 35 ABB: COMPANY SNAPSHOT
               TABLE 74 ABB: PRODUCTS/SERVICES/SOLUTIONS OFFERED
               TABLE 75 ABB: DEALS
     10.2 GENERAL ELECTRIC 
               TABLE 76 GENERAL ELECTRIC: COMPANY OVERVIEW
               FIGURE 36 GENERAL ELECTRIC: COMPANY SNAPSHOT
               TABLE 77 GENERAL ELECTRIC: PRODUCTS/SERVICES/SOLUTIONS OFFERED
               TABLE 78 GENERAL ELECTRIC: PRODUCT LAUNCHES
     10.3 SIEMENS 
               TABLE 79 SIEMENS: COMPANY OVERVIEW
               FIGURE 37 SIEMENS: COMPANY SNAPSHOT
               TABLE 80 SIEMENS: PRODUCTS/SERVICES/SOLUTIONS OFFERED
               TABLE 81 SIEMENS: DEALS
     10.4 EATON 
               TABLE 82 EATON: COMPANY OVERVIEW
               FIGURE 38 EATON: COMPANY SNAPSHOT
               TABLE 83 EATON: PRODUCTS/SERVICES/SOLUTIONS OFFERED
               TABLE 84 EATON: OTHERS
     10.5 ETAP 
               TABLE 85 ETAP: COMPANY OVERVIEW
               TABLE 86 ETAP: PRODUCTS/SERVICES/SOLUTIONS OFFERED
               TABLE 87 ETAP: DEALS
     10.6 SCHNEIDER ELECTRIC 
               TABLE 88 SCHNEIDER ELECTRIC: COMPANY OVERVIEW
               FIGURE 39 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
               TABLE 89 SCHNEIDER ELECTRIC: PRODUCTS/SERVICES/SOLUTIONS OFFERED
               TABLE 90 SCHNEIDER ELECTRIC: PRODUCT LAUNCHES
     10.7 EMERSON 
               TABLE 91 EMERSON: COMPANY OVERVIEW
               FIGURE 40 EMERSON: COMPANY SNAPSHOT
               TABLE 92 EMERSON: PRODUCTS/SERVICES/SOLUTIONS OFFERED
               TABLE 93 EMERSON: DEALS
     10.8 MITSUBISHI ELECTRIC 
               TABLE 94 MITSUBISHI ELECTRIC: COMPANY OVERVIEW
               FIGURE 41 MITSUBISHI ELECTRIC: COMPANY SNAPSHOT
               TABLE 95 MITSUBISHI ELECTRIC: PRODUCTS/SERVICES/SOLUTIONS OFFERED
               TABLE 96 MITSUBISHI ELECTRIC: DEALS
     10.9 ROCKWELL AUTOMATION 
               TABLE 97 ROCKWELL AUTOMATION: COMPANY OVERVIEW
               FIGURE 42 ROCKWELL AUTOMATION: COMPANY SNAPSHOT
               TABLE 98 ROCKWELL AUTOMATION: PRODUCTS/SERVICES/SOLUTIONS OFFERED
     10.10 HONEYWELL INTERNATIONAL INC. 
               TABLE 99 HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW
               FIGURE 43 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT
               TABLE 100 HONEYWELL INTERNATIONAL INC.: PRODUCTS/SERVICES/SOLUTIONS OFFERED
     10.11 FUJI ELECTRIC 
               TABLE 101 FUJI ELECTRIC: COMPANY OVERVIEW
               FIGURE 44 FUJI ELECTRIC: COMPANY SNAPSHOT
               TABLE 102 FUJI ELECTRIC: PRODUCTS/SERVICES/SOLUTIONS OFFERED
     10.12 LARSEN & TOUBRO 
               TABLE 103 LARSEN & TOUBRO: COMPANY OVERVIEW
               FIGURE 45 LARSEN & TOUBRO: COMPANY SNAPSHOT
               TABLE 104 LARSEN & TOUBRO: PRODUCTS/SERVICES/SOLUTIONS OFFERED
     10.13 YOKOGAWA 
               TABLE 105 YOKOGAWA: COMPANY OVERVIEW
               FIGURE 46 YOKOGAWA: COMPANY SNAPSHOT
               TABLE 106 YOKOGAWA: PRODUCTS/SERVICES/SOLUTIONS OFFERED
     10.14 WÄRTSILÄ 
               TABLE 107 WÄRTSILÄ: COMPANY OVERVIEW
               FIGURE 47 WÄRTSILÄ: COMPANY SNAPSHOT
               TABLE 108 WÄRTSILÄ: PRODUCTS/SERVICES/SOLUTIONS OFFERED
     10.15 CPOWER 
               TABLE 109 CPOWER: COMPANY OVERVIEW
               TABLE 110 CPOWER: PRODUCTS/SERVICES/SOLUTIONS OFFERED
     10.16 BRUSH 
               TABLE 111 BRUSH: COMPANY OVERVIEW
     10.17 ALBIREO ENERGY 
               TABLE 112 ALBIREO ENERGY: COMPANY OVERVIEW
     10.18 GREYSTONE ENERGY SYSTEMS INC. 
               TABLE 113 GREYSTONE ENERGY SYSTEMS INC.: COMPANY OVERVIEW
     10.19 OMRON 
               TABLE 114 OMRON: COMPANY OVERVIEW
     10.20 LINEAGE POWER 
               TABLE 115 LINEAGE POWER: COMPANY OVERVIEW
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)* might not be captured in case of unlisted companies.
 
11 APPENDIX (Page No. - 162)
     11.1 INSIGHTS FROM INDUSTRY EXPERTS 
     11.2 DISCUSSION GUIDE 
     11.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     11.4 CUSTOMIZATION OPTIONS 
     11.5 RELATED REPORTS 
     11.6 AUTHOR DETAILS 

The study involved major activities in estimating the current size of the power management system market. Exhaustive secondary research was done to collect information on the peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of the segments and subsegments.

Secondary Research

This research study on the power management system market involved the use of extensive secondary sources, directories, and databases, such as Hoovers, Bloomberg, Businessweek, Factiva, International Energy Agency, and BP Statistical Review of World Energy, to identify and collect information useful for a technical, market-oriented, and commercial study of the global power management system market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.

Primary Research

The power management system market comprises several stakeholders such as generator manufacturers, manufacturers of subcomponents of power management system, manufacturing technology providers, and technology support providers in the supply chain. The demand side of this market is characterized by the rising demand for uninterrupted power supply from end users. Moreover, the demand is also driven by the rising demand from data centers & IT facilities. The supply side is characterized by rising demand for contracts from the industrial sector, and mergers & acquisitions among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents:

Power Management System Market  Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the power management system market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and market have been identified through extensive secondary research, and their market share in the respective regions have been determined through both primary and secondary research.
  • The industry’s value chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Global Power management system Market Size: Bottom-Up Approach

Power Management System Market  Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the total market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments, the data triangulation and market breakdown processes have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand- and supply sides. Along with this, the market has been validated using both the top-down and bottom-up approaches.

Market Definition

The Power Management System (PMS) market refers to the global industry that involves the development, manufacturing, and implementation of solutions and technologies for the efficient, reliable, and optimized management of electrical power.

Key Stakeholders

  • Government & research organizations
  • Institutional investors and investment banks
  • Investors/shareholders
  • Environmental research institutes

Objectives of the Study

  • To define, describe, segment, and forecast the power management system market, in terms of value and volume, on the basis of type, end user industry, module, and region
  • To forecast the market size for five key regions: North America, South America, Europe, Asia Pacific, and Middle East & Africa, along with their key countries
  • To provide detailed information about the key drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To strategically analyze the subsegments with respect to individual growth trends, prospects, and contributions of each segment to the overall market size
  • To analyze market opportunities for stakeholders and the competitive landscape of the market
  • To strategically profile the key players and comprehensively analyze their market shares and core competencies
  • To analyze competitive developments, such as sales contracts, agreements, investments, expansions, new product launches, mergers, partnerships, collaborations, and acquisitions, in the market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Geographic Analysis

  • Further breakdown of region or country-specific analysis

Company Information

  • Detailed analyses and profiling of additional market players (up to 5)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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