A recent report published by Infinium Global Research on distribution board market provides in-depth analysis of segments and sub-segments in the global as well as regional distribution board market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional distribution board market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global distribution board market. The global distribution boards market was valued at USD 3.84 billion in 2022 and is expected to reach USD 6.41 billion in 2030, with a CAGR of 5.83% during the forecast period 2023-2030.
Distribution board are also called panel boards or breaker panels distribution board include several circuit breakers or fuses to regulate and distribute electricity to different electrical circuits inside a building, facility, or infrastructure. To distribute electricity to lights, outlets, appliances, and other electrical devices, they act as central distribution points, accepting power from the main electrical supply and then directing it to various sub-circuits. Important functions performed by distribution boards are to ensure effective power distribution, safeguard electrical circuits from overloads or malfunctions, and facilitate efficient control of electrical systems. Global urbanization and the rising demand for protective devices for electricity supply are the two main factors propelling the growth of the global distribution boards market. Additionally, expanding access to energy, particularly in the rural region is anticipated to fuel the market for distribution boards.
The market is witnessing growth due to the growing need for electricity distribution which is attributed to rising construction activities and infrastructure development. The infrastructure supports trade, connection, and economic inclusion while promoting higher productivity and growth. The improvement of energy availability in urban and rural areas depends on the growth of electrical distribution networks through infrastructure development. Hence, there is a significant requirement for a distribution board to supply electricity efficiently. Furthermore, there is a requirement to effectively manage and distribute this renewable energy as more nations and companies move towards cleaner and sustainable energy options, such as solar, wind, and hydroelectric electricity. The power connection between the main grid and distributed energy resources such as rooftop solar panels and turbines for wind power is managed by distribution boards. Thus, the rising focus on sustainable energy sources and the integration of renewable energy systems contributed to the demand for distribution boards. However, the cost of an advanced distribution board poses a high cost as it is integrated with advanced technologies such as advanced power management and smart grid applications, therefore it limits the market growth to expand in the untapped regions and some parts of developing regions. Although, as smart home and automation technologies in buildings are increasing the demand for advanced distribution boards that are integrated with IoT and smart technologies is also increasing.
The global distribution board market is segmented into Asia Pacific, North America, Europe, the Middle East & Africa, and South America. Among the regions, Asia-Pacific is predicted to dominate the distribution panels market, due to higher rates of electrification, urbanization, and industrialization in the region. China is leading in electrical infrastructure upgrades and the installation of new transmission and distribution lines. Additionally, In North America demand for distribution boards in residential, commercial, and industrial contexts has been significantly influenced as the construction industry is booming, particularly in the United States and Canada. Furthermore, the country’s focus on energy-efficient distribution networks, integration of renewable energy sources, and smart grid projects have paved opportunities for cutting-edge distribution board solutions.
|Market Size in 2022||USD 3.84 Billion|
|Market Size by 2030||USD 6.41 Billion|
|Growth Rate from 2023 to 2030||CAGR of 5.83%|
|Largest Market||Asia Pacific|
|No. of Pages||300|
|Market Segmentation||By Current Ratings, By Application, By Mounting Type, and By Material Type|
|Regional Scope||North America, Europe, Asia Pacific, and RoW|
The report on global distribution board market covers segments such as current ratings, application, mounting type, and material type. On the basis of current ratings, the sub-markets include <100a, 100a-300a, 300a -600a, and above 600a. On the basis of application, the sub-markets include commerical, industrial, residential, and others. On the basis of mounting type, the sub-markets include direct mount, flush, hollow wall, surface, and others. On the basis of material type, the sub-markets include abs, polycarbonate, and sheet steel.
The report provides profiles of the companies in the market such as ABB, Eaton, ESL POWER SYSTEMS, INC., Hager Group, LARSEN & TOUBRO LIMITED, Siemens, Schneider Electric, NHP Electrical Engineering Products, Rockwell Automation, Inc., and Legrand.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the distribution board market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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