New York, United States , Aug. 06, 2024 (GLOBE NEWSWIRE) -- The Global Power Pedestal Market Size is to Grow from USD 186.6 Million in 2023 to USD 297.3 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 4.77% during the projected period.
Power pedestals are highly specialized electrical devices that act as power sources, offering tailored power solutions for a wide range of consumer applications. These are charging stations designed specifically for outdoor usage to meet power requirements at construction zones, camping facilities, and parking spaces. Power pedestals offer safe and trustworthy utilization of electricity. The power pedestals initially consisted of metal, but they are currently constructed of highly durable composite materials that can withstand harsh conditions. Furthermore, there is a growing demand for boats, yachts, and recreational vehicles because to the rise in the number of people using these vehicles for travel and recreation on a global scale. Global ownership of RV parks has increased as a result of the growing popularity of visiting recreational parks. Because of this, power pedestals are becoming more and more necessary for marinas, waterfront homes, and RV parks to support charging, appliance use, and the general electrical requirements of boats and RVs while docked or parked. However, the market growth could be hampered by the limited accessibility of products to end users.
Browse key industry insights spread across 276 pages with 90 Market data tables and figures & charts from the report on the "Global Power Pedestal Market Size, Share, and COVID-19 Impact Analysis, By Type (Stainless-Steel Power Pedestal, Polycarbonate Power Pedestal, Lightweight Composites, Aluminium Power Pedestal, and Others), By Application (Marina Power and Lightening, Recreation Vehicle Parks, Construction Site, Mobile Home Panels, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The stainless-steel power pedestals are projected to dominate the global power pedestal market throughout the forecast period.
Based on type, the global power pedestal market is divided into stainless-steel power pedestals, polycarbonate power pedestals, lightweight composites, aluminum power pedestals, and others. Among these, the stainless-steel power pedestals are projected to dominate the global power pedestal market throughout the forecast period. To architects and structural engineering companies choose stainless steels with higher molybdenum content due to their outstanding corrosion resistance. Moreover, SSPP is experiencing the most rapid expansion in the building industry. The neat and simplified appearance of SS improves the look and functionality of parks, marinas, and other open spaces.
The marina power and lightning are expected to dominate the market over the forecast period.
Based on application, the global power pedestal market is divided into marina power and lighting, recreation vehicle parks, construction sites, mobile home panels, and others. Among these, marina power and lightning are expected to dominate the market over the forecast period. The prospering leisure boating industry, increasing demands from customers, greater awareness and acceptance of environmentally friendly methods, and the development of smart technologies all contribute to the segment's growth. The expanding global recreational boating industry remains the primary driver, with more boats and yachts requiring marina improvements and extensions. Expectations from customers for better marina amenities and services drive demand for developed and fully equipped power pedestals. In addition, market growth is fueled by rising demand for sustainable and energy-efficient power solutions in the shipping industry, which is aided by rising awareness.
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North America is expected to hold the largest share of the power pedestal market over the forecast period.
North America is projected to lead the market, with about forty percent of the global pedestal market. modifications in the economic status, legislation from the government, and regional demand for electricity and critical machine parts, equipment, and components are all contributing to market growth. Progress will vary across North American industries. The building and RV parks are projected to see in keeping high demand, while marinas could encounter saturation. Despite the fact that North America remains the market leader, Asia Pacific is expected to grow at a faster rate in the coming years due to rapid infrastructure development and gentrification.
Asia Pacific is predicted to grow at the fastest pace in the power pedestal market during the projected timeframe. Southeast Asian countries like South Korea, Japan, China, and India are driving the market forward. It is also expanding quickly in other Asian countries, including Vietnam, Thailand, and Malaysia. In addition, all over the Asia-Pacific area, electricity manufacturing and usage have been steadily rising over the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the power pedestal market include Dock Boxes Unlimited, Marina Power Company, HydroHoist Marine Group, Ace Manufacturing Metals Ltd, Eaton, MonoSystems Inc., Gescan a Division of Sonepar Canada Inc, Attwood Corporation, General Electric, Power Marine Centre Inc., Power Master Vickery Electric Ltd, Marina Electrical Equipment Inc., Legrand North America LLC, Dock Boxes Unlimited, Marina Power Company, HydroHoist Marine Group, Ace Manufacturing Metals Ltd, and Others.
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Recent Developments
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In May 2023, Leviton released new indoor and outdoor power pedestals for commercial, maritime, and recreational vehicle/camping applications. These pedestals are NEMA 3R rated and made from welded stainless steel. They are designed to be comfortable in any setting while also enduring harsh outdoor conditions.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global power pedestal market based on the below-mentioned segments:
Global Power Pedestal Market, By Type
Global Power Pedestal Market, By Application
Global Power pedestal Market, By Regional
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North America
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Europe
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Germany
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Uk
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France
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Italy
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Spain
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Russia
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Rest of Europe
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Asia Pacific
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China
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Japan
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India
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South Korea
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Australia
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Rest of Asia Pacific
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South America
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Brazil
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Argentina
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Rest of South America
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Middle East & Africa
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