According to Cognitive Market Research, the global Electric Control Panel market size was USD 6258.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.50% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 2503.40 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 1877.55 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 1439.46 million in 2024 and will rise at a compound annual growth rate (CAGR) of 8.5% from the year 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 312.93 million in 2024 and will rise at a compound annual growth rate (CAGR) of 5.9% from the year 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 125.17 million in 2024 and will rise at a compound annual growth rate (CAGR) of 6.2% from the year 2024 to 2031.
The outdoor control panel category is the fastest growing segment of the Electric Control Panel industry
