Power Pedestal Market Size & Share by Type (Stainless Steel Power Pedestal, Polycarbonate Power Pedestals, Aluminum Power Pedestal); Application (Marina Power and Lightening, Construction Site, Recreational Vehicle Parks) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5660
  • Published Date: Feb 16, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Power Pedestal Market size is predicted to reach USD 74 Billion by the end of 2036, expanding around 8% CAGR during the forecast period i.e., 2024-2036. In the year 2023, the industry size of the power pedestal was over USD 2 Billion. The rising electricity usage is responsible for the market's growth. The approval of the units is anticipated to be driven by an increase in arrogation for energy in the institutional, commercial, and residential sectors. The US Energy Information Administration estimates that in April 2020, the country's electricity usage was approximately 6.5 quadrillion British Thermal Units. In addition to being employed in residential, commercial, and industrial settings, electricity is also utilized in the highly competitive and cost-sensitive marine industry. In the marine industry, innovation and sustainability are the pinnacles of advanced technology used in harsh environments.

The use of power substations across the globe is expected to trigger an increase in market penetration. There are interconnection points in the power systems built by a transmission line. Transformers allow connections between voltage levels, and the circuit breakers' switching state allows for a network topology to be revealed. Therefore, this is predicted to drive the expansion of the power pedestal market in the projected period.


Power Pedestal Market
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Power Pedestal Sector: Growth Drivers and Challenges

Growth Drivers

  • High Demand for Power Pedestals in Homes - It is projected that power pedestal market expansion will be fueled by the need for electrical pedestals in residences, workplaces, and educational institutions; installing the splitting device at the pedestal has advantageous economic benefits. Consequently, the pedestal electronics are powered by the nearest uninterruptible power sources. You will use fewer resources if you use power pedestals. Customers are becoming more aware of electricity pedestals, which is driving power pedestal market growth.
  • High Demand in Emerging Economies - It is projected that over the coming years, growing economies and increased investment from countries like China, Japan, and India will propel the global pedestal market. This is mostly due to the growing infrastructure in these areas, which would lead to a rise in power pedestal installations and drive the growth of the market during the period between 2024 - 2036.
  • Upgradation of EV Charging Station - The market for power pedestals worldwide will have greater prospects in the areas of microgrids and off-grid solutions. Self-contained power systems enable seamless incorporation of power generation, storage, and distribution inside a designated region, such as a town, university, or hospital. The microgrid can also be used as an electric vehicle charging station, to support essential infrastructure during grid outages, and to power lights by including power pedestals into it.
  • An additional element that is anticipated to boost power pedestal market expansion is the installation of power pedestals in the EV charging infrastructure. The demand for specialized EV charging pedestals that can provide quick and effective charging for electric vehicles is rising in areas including parking lots, public areas, and residential buildings. Twenty million public EV charging stations are predicted to be connected to the grid by 2030, and new projections indicate that residential charging stations will increase dramatically to keep up with demand.

Challenges

  • Presence of Electrical Distribution System – Two of the factors limiting the worldwide power potential market are the availability of power pedestal alternatives and the growing significance of electrical distribution networks. The electrical distribution networks ensure that consumers receive power dependably generated from renewable sources. The focus of the globe is moving toward renewable energy sources like solar and wind power, which require dependable and efficient infrastructure. Also, several countries are investing in modernizing their outdated power networks to boost efficiency, reduce losses, and fulfill the growing electricity demand. Modernization, which usually focuses on smart grids with advanced automation and monitoring features, is where EDS comes into play. Integration with Existing Infrastructure is Set to Hinder the Power Pedestal Market Growth in the Forecast Period
  • Competition from Alternative Technologies is Predicted to Pose Limitations on the Market Growth in the Upcoming Period.

Power Pedestal Market: Key Insights

Base Year

2023

Forecast Year

2024 - 2036

CAGR

~8%

Base Year Market Size (2023)

~USD 2 Billion

Forecast Year Market Size (2036)

~USD 74 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Power Pedestal Segmentation

Type (Stainless Steel Power Pedestal, Polycarbonate Power Pedestal, Aluminum Power Pedestal)

Based on type, the stainless-steel segment is anticipated to dominate the power pedestal market growing at 60% by the end of 2036. Because of their better resistance to corrosion, architects and structural engineers tend to prefer steels with more molybdenum content for applications in challenging environments. In addition, SSPP has the highest rate of growth in construction. In addition, there is a growing demand for homes, companies, and hospitals all over the world due to urbanization and population growth. More power pedestals for buildings will need to be erected as urbanization increases. However, there are fluctuations in the price of Stainless Steel which could affect the value of pedestals and lead to competition from substitute materials. Moreover, the fact that stainless steel power pedestals meet all application needs and can resist acidic and coastal climates is another factor contributing to their dominance in the global power pedestal industry. Because they exhibit enduring qualities over an extended length of time and require less maintenance, they are extremely durable power centers.

Application (Marina Power and Lightening, Construction Site, Recreational Vehicle Parks)

In terms of application, the marina power and lightning segment in the power pedestal market is projected to hold the largest revenue share of 50% by the end of the forecast period. The fragment is growing owing to the flourishing recreational boating segment, rising client desires, developing acknowledgment and appropriation of maintainable hones, and the approach of keen advances. In 2022, the number of recreational vessels registered by the Member States increased by 1.6% compared to the previous year to 11,770,383. The developing world recreational drifting trade remains the biggest driver since more vessels and yachts mean that the marina framework has to be updated and expanded. The requirement for progressed and full-featured control platforms is fueled by client desires to move forward with marina administrations and offices. 

Our in-depth analysis of the global power pedestal market includes the following segments:

           Type

  • Stainless Steel Power Pedestal
  • Polycarbonate Power Pedestals
  • Aluminum Power Pedestal

          Application

  • Marina Power and Lightening
  • Construction Site
  •  Recreational Vehicle Parks

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Power Pedestal Industry - Regional Synopsis

North American Market Forecasts

North American region is set to dominate the power pedestal market by registering growth of 35% during the anticipated period. The industry expansion will be fueled by shifts within the financial scene, government enactment, and the region's requirement for control and fundamental machine parts, hardware, and components.  In North America, there will be differences in progress across different sectors. Demand is expected to remain high for buildings and RV parks, whereas marinas may experience a certain degree of saturation.

APAC Market Statistics

The power pedestal market in the Asia Pacific is set to grow significantly during the forecast period. The growth rate in the market is driven by Southeast Asian countries such as South Korea, Japan, China, and India. In addition, over the last few years production and consumption of electricity in the Asia Pacific region have been increasing steadily. In addition, in 2021, it accounted for 42 % of exports and 64 % of imports, making it the world's largest maritime freight handling center. In addition, in 2021, it ranked as the world's largest maritime freight handling hub with 42 percent of exports and 64 percent of imports. Furthermore, Asia accounted for eighteen of the thirty-five largest shipowners in 2023.

Research Nester
Power Pedestal Market size
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Companies Dominating the Power Pedestal Market

top-features-companies
    • Marina Electrical Equipment
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Eaton Corporation plc
    • HydroHoist Marine
    • Ace Manufacturing Metals
    • Powermaster
    • Vickery Electric
    • Power Marine Centre
    • General Electric
    • Motion Power
    • Leviton Manufacturing Company Inc.

In-the-news

In The News

  • May 2023: Leviton introduced new indoor and outdoor power pedestals for commercial, maritime, and recreational vehicle or camping applications. The pedestals shall be NEMA 3R rated and shall be made of welded stainless steel. They're meant to be comfortable in any place, but they're also capable of surviving challenging outdoor conditions.
  • October 2023:The newest member of Motion Power's exclusive line of upgradable RV generators and communication platforms Model II, specifically designed for the outdoor recreation industry was introduced.

Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 5660
  • Published Date: Feb 16, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing upgradation of EV charging stations and high demand in residential sectors are some of the major factors anticipated to drive the growth of the power pedestal market.

The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2024-2036.

The major players in the market are PowerMaster, Vickery Electric, Power Marine Centre, General Electric, Motion Power, Leviton Manufacturing Company Inc., and others.

The marina power and lightning segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in North America is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Power Pedestal Market Report Scope
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