The new electric world will affect panel builders
Panel builders can expect big changes in demand for their products as electrification grows globally and exerts its dominance over all other forms of energy. The demand for more cooling, for example, is expected to triple by 2050, and will hugely increase electricity demand – as much electricity as all of China and India use today. Or take the example of EVs, which are estimated to become 50% of new car sales by 2040. The big picture is that total growth of electricity is going to be massive, about 62% by 2050.
Offering equipment is not enough
But for panel builders, will a rising tide lift all boats? As the stakes grow, so does the competition. Not every player in the business will be successful. As end users increasingly demand greater efficiency and control over their energy, panel builders need to offer more than just equipment. Those who will thrive in the new electric world will also focus on developing their reputation as trusted advisors – coming with future-ready solutions that consider their customers’ capex and opex.
Every advantage that panel builders pursue today can make the difference for better business tomorrow.
Panel builders will win through partnership
We believe that strong partnerships provide 4 key ingredients for panel builders’ future success.
First, by partnering with industry leaders, panel builders can expand their technical skillsets and their technology expertise. In our industry, which undergoes constant change, an education is never complete. Strong partners can deliver training aligned with local business knowledge and needs, allowing panel builders to uniquely perfect their suppliers’ equipment and specialized configuration tools.
Second, partnership serves a foundation for collaboration. By collaborating with industry partners, panel builders can address complex daily challenges with effective support from the design stage through the build stage. By embracing digital and leveraging new software, they can easily compare and find the right circuit breaker and LV components to build their complete switchgear. Software also allows fast configuration, and the quick creation and sharing of their bill of materials, and finally providing their customer with a rapid and optimized quotation.
Third, meaningful partnerships can increase a panel builder’s pull-through and extend their business into new activities, as well as limit their risks and industrial investments. This can be accomplished through greater agility made possible by the support of a partner trainings, or software, or by opening new doors and extending the existing business to new activities. One example is by extending into a complementary LV and MV business or by complementing through a new portfolio of services. That’s supported by technology and practices that allow the traceability of a panel builder’s installed base and the ability to follow up and contact end users with new offers. Or, by participating on a community platform that allows a large knowledge base with many connections, panel builders can amplify their market presence and secure business potential.
Finally, partnerships help panel builders differentiate from the competition, to become more international and access more complex and profitable business. Innovative new technologies, like SF6-free medium voltage switchgear, or more connected, active switchboard functionalities can help panel builders boost their reputation as innovators for the future, and answer the needs of their customers who increasingly prioritize sustainable solutions and lower operational interruption. Seizing new innovations can also help shorten design, delivery, and overall project completion times, especially when panel builders can provide fast and accurate answers for their customers, and the right prices.
The evidence is clear
It sounds nice. But let’s see an example of how this can look in the real world. Our partner in Greece, Kafkas, tells the story: