With the rapid growth in urbanization, there is a steep increase demand for power in commercial, institutional and residential sectors of the society. Today major industries are focusing on temporary Power Distribution solutions which has boosted the power pedestal market. Major companies are investing on innovating new technologies to increase the efficiency of power pedestals for utilization in recreational parks, construction sites, marinas and other places. However the availability of substitutes for power pedestals along with the growing prominence of electrical distribution systems might act as a restraining factor for the market.
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The market in the North America region dominates the global power pedestal market. This is because of the growing demand for advanced power solutions in the modern marinas, recreational parks, camping sites and other places in the developed nations such as the U.S. The market in the Asia Pacific region is also expected to grow steadily going to the infrastructure developments and growing demands for electricity in the emerging economies such as India and China.
Top companies covered in the power pedestal market are Marina Electrical Equipment Inc., Eaton, HydroHoist Marine Group, Ace Manufacturing Metals Ltd, Power Master Vickery Electric Ltd, Power Marine Centre Inc., General Electric, Attwood Corporation, Marina Power Company, Legrand North America LLC, Dock Boxes Unlimited, Gescan a Division of Sonepar Canada Inc., and MonoSystems Inc.
Key benefits of the report:
This study presents the analytical depiction of the global power pedestal industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global power pedestal market share.
The current market is quantitatively analyzed from 2022 to 2029 to highlight the global power pedestal market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global power pedestal market analysis depending on competitive intensity and how the competition will take shape in coming years.
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COVID-19 scenario analysis:
The global market for power pedestals is severely impacted by the outbreak of the COVID-19 pandemic.
The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
Thus, insufficiency in raw material supply is expected to hamper the production rate of power pedestals, which negatively impact the market growth.
However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.
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