Press Release

Global Power Management System Market to Grow at a CAGR of 7.2% During 2024-2032, Driven by the Rising Demand for Power Management Systems in the Utility Sector

Global Power Management System Market

According to a new report by EMR titled, ‘The global power management system market attained a value of about USD 2.64 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 7.2% to reach nearly USD 4.92 billion by 2032.

The Asia Pacific holds a significant share of the power management system industry owing to the growing demand for power management systems in the utility sector. The extensive demand for efficient power management systems in the manufacturing and oil and gas industries to streamline workflow efficiencies is driving the industry growth. As countries like India and China are witnessing rapid industrialisation and urbanisation, the demand for power management systems for providing power supply is increasing, hence augmenting the growth of the market. Moreover, the rising deployment of power management systems in data centres to meet the growing demand for high-speed networks is providing further impetus to the market.


Some of the leading companies in the market are ABB Ltd (NYSE: ABB) and RH Marine Netherlands BV. The latter developed an on-board cloud solution that simplifies repairs and updates while automating the network in November 2019. The system is inspired by cloud-technology that automates system integration. It offers an on-board computer network, which connects the power management system to the Alarm Control and Monitoring System  (ACMS) and engine room. The system operates all software applications to enable efficient functioning during workstation failures and power outages. It can be installed on board any vessel during the construction and design phase, which makes it an ideal solution for refits and on-builds. Moreover, it makes vessels smarter and easy to operate. The development of such solutions is surging the demand for power management systems, which is driving the market growth.


Read more about this report - REQUEST FREE SAMPLE COPY IN PDF


Market Analysis by End-User and Region:

  • The market, on the basis of end-user, can be divided into utilities, data centres, oil and gas, and marine, among others.
  • The regional markets for power management system include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.


Key Findings of the Report:

  • The increasing use of power management systems to enhance the energy-efficiency in the marine industry is bolstering the market growth.
  • The market is being aided by the growing deployment of automatic power management systems to automate power conservation as well as regulate power generation.
  • The growing use of power management systems to provide a consistent power supply and reduce operating costs in the oil and gas industry is propelling the market growth.
  • The market is being aided by the integration of artificial intelligence (AI) in power management systems, which is automating maintenance and operations while bolstering energy-efficiency.


Key Offerings of the Report:

  • The EMR report gives an overview of the global market for power management system for the periods (2018-2023) and (2024-2032).
  • The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the end-users and major regions of power management system.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.


The major players in the global power management system market are ABB Ltd, ComAp A.S., RH Marine Netherlands BV, Wärtsilä Corporation, and Marine Control Service AS, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.


About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.


EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.


Contact Us:

Expert Market Research
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790


*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.