Market Research Future published a research report on “Global Distribution Boards Market - Global industry Forecast To 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
The global distribution boards market is predicted to touch USD 8.52 billion at a 6.50% CAGR between 2019- 2025 states the recent Market Research Future (MRFR) analysis. A distribution board or panel board or electric breaker panel, simply put, is an electricity supply composition which segments an electric power feed into the supplementary circuit, though offering a circuit breaker or protecting fuse for each circuit in a huge field. In a new board, generally, the main switch & extra residual current breakers with overcurrent protection are also integrated. Generally, these boards are used on a provisional electrical installation.
This board is a primary electrical supply system for the industrial, commercial, and residential entities. As it is a highly critical device in the electricity distribution system, a distribution board ensures that the current is distributed correctly to every device providing proper functioning. Double door and single door distribution boards are the two main types of distribution boards. The single variety is installed in applications that are relatively simple and comes in different configurations of 16-way, 8-way, and 4-way. The double variety, on the other hand, is used in heavy-duty operations, particularly in commercial applications.
Various factors are propelling the global Distribution Boards Market share. As per the current MRFR report, such factors include increasing infrastructural and construction activities worldwide, increasing investments in renewable power plants, growing global electricity demand, burgeoning need to protect electrical networks and components, and aging power infrastructure. Additional factors adding market growth include growing access to electricity, particularly in rural areas, rising need for protective devices, and increasing urbanization worldwide.
On the contrary, product failures and the ongoing COVID-19 impact may limit the global distribution boards market growth over the forecast period.
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Eminent players profiled in the global distribution boards market report include East Coast Power Systems Limited (US), ESL Power Systems (US), Industrial Electric Mfg (US), NHP Electrical Engineering Products Pty. Ltd (Australia), Hager (Germany), Legrand (France), Larsen & Toubro (India), Schneider Electric (France), ABB (Switzerland), Siemens (Germany), General Electric Corp (US), and Eaton Corporation PLC (Ireland).
The segment evaluation of the global distribution boards market is done by end use and voltage rating.
The voltage rating based segments of the distribution board global market are medium voltage and low voltage. The medium voltage based segment can dominate the global market of distribution board. The rise in investment in construction sector and T&D infrastructure, along with rise of the renewable sector market can prompt the expansion of the global market in the years to come. The end use based segments of the distribution board market are transmission & distribution utilities, manufacturing & processing industry, commercial & residential, and others. Rise in T&D utilities and increase in T&D infrastructure solutions for refurbishment can impel the expansion of the market across the review period.
The global distribution board market trends in different regions is studied extensively by MRFR. The long term and short term influence of COVID 19 on the distribution board market in different region is explained vividly in the report. APAC distribution board market can witness a considerable rise in the distribution board market through the forecast period as the need to protect electric components is increasing and the infrastructural development around the globe is rising. The rise in access to electricity can prompt the expansion of the distribution boards market in the region in the near future. As per MRFR analysis, Asia Pacific is the expected to secure the largest share of the distribution boards market in the years to come. The rise of the construction sector and the immediate need for refurbishment of existing infrastructure can impel the expansion of the distribution boards market in the area. High infrastructural activities in North America and EU can boost the distribution board market in these regions.
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Table of Contents
- Executive Summary
- Research Methodology
- Distribution Boards Market Overview
- Distribution Boards Supply Chain Analysis
- Distribution Boards Pricing Analysis
- Distribution Boards Market Analysis and Forecast by Type
- Distribution Boards Market Analysis and Forecast by Application
- Distribution Boards Market Analysis and Forecast by Sales Channel
- Distribution Boards Market Analysis and Forecast by Region
- North American Distribution Boards Market Analysis and Forecast
- Latin American Distribution Boards Market Analysis and Forecast
- Europe Distribution Boards Market Analysis and Forecast
- Asia Pacific Distribution Boards Market Analysis and Forecast
- Middle East & Africa Distribution Boards Market Analysis and Forecast by
- Competitive Landscape
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