ID: MRFR/E&P/2306-HCR | February 2021 | Region: Global | 188 pages
Distribution Boards Market is projected to be worth USD 13.79 billion by 2030, registering a CAGR of 6.67% during the forecast period (2022 - 2030), The market was valued at USD 5.25 billion in 2021.
The major factors driving the growth of the global distribution boards market are increasing urbanization across the globe and increasing need for protective devices. Moreover, increasing access to electricity, especially in rural areas, will drive the demand of distribution boards market. Additionally, aging power infrastructure also presents a growth opportunity for the global distribution boards market. Energy-efficiency has become the primary driver for the growth of the global distribution boards market. Additionally, governments around the globe are developing policies to encourage the use of energy-efficient devices, due to their benefits, including reduced energy consumption and savings in cost. According to International Energy Efficiency (IEA), global energy demand rose by 1.9% in 2017 led by strong economic growth, ultimately driving energy efficiency.
The key players operating in the global distribution boards market are Eaton Corporation PLC (Ireland), General Electric Corp (US), Siemens (Germany), ABB (Switzerland), Schneider Electric (France), Larsen & Toubro (India), Legrand (France), Hager (Germany), NHP Electrical Engineering Products Pty. Ltd (Australia), Industrial Electric Mfg (US), ESL Power Systems (US), and East Coast Power Systems Limited (US).
All these factors will drive the distribution boards, which also facilitates uninterrupted power. Many players, including Havells (India), Legrand (France), and Finolex (India) among others are focusing on providing highly competitive distribution boards products with varied categories. These players also aim to adopt organic as well as inorganic strategies in the form of new product development, contracts & agreements, and expansion as a part of their expansion strategies. For instance, Havells India focuses on innovation by making a considerable amount of investment in R&D for offering competitive products.
The global distribution boards market has been segmented based on voltage rating and end use. Based on the voltage rating, the global market includes low voltage and medium voltage. The medium voltage segment is expected to dominate the global market. This share can be attributed to increasing investments in T&D infrastructure, construction sector, and growing renewable sector. Based on end-use, the market has been segregated into transmission & distribution utilities, manufacturing & processing industry, commercial & residential, and others. The T&D utilities are expected to dominate the market as the T&D infrastructure is aged and needs refurbishment.
Global Distribution Boards Market is expected to witness high growth during the forecast period due to the increasing need to protect the electric components and growing infrastructural development across the globe. Moreover, increasing access to electricity is also likely to boost the distribution boards market. On the basis of region, the global distribution boards market has been divided into Asia-Pacific, North America, Europe, the Middle East, Africa, and South America. Asia-Pacific holds the largest share in the distribution boards market. The growing construction sector and immediate need to refurbish old and aged infrastructure would boost the market for distribution boards market in the region. China dominated the Asia-Pacific region owing to the enormous population and increasing infrastructural activities in order to cater to the large population.
A distribution board is the primary electrical supply system for the residential, commercial, and industrial entity. Being one of the most critical devices within the electricity distribution system, it makes sure that the current is correctly distributed to all the devices allowing proper functioning. There are main types of distribution boards, namely, single door distribution board and double door distribution board. Single door distribution boards are installed in relatively simple applications and are available in 4-way, 8-way, and 16-way configurations. On the other hand, double door distribution board for used for heavy-duty operations and are majorly used in commercial applications.
|Market Size||2030: USD 13.79 billion|
|CAGR||6.67% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Voltage Rating and End Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Eaton Corporation PLC (Ireland), General Electric Corp (US), Siemens (Germany), ABB (Switzerland), Schneider Electric (France), Larsen & Toubro (India), Legrand (France), Hager (Germany), NHP Electrical Engineering Products Pty. Ltd (Australia), Industrial Electric Mfg (US), ESL Power Systems (US), and East Coast Power Systems Limited (US)|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Increasing urbanization on the global front is supposed to drive the growth of the distribution boards market.
The distribution boards market is poised to mark 6.67% CAGR.
By 2030, the distribution boards market is poised to attain a valuation of USD 13.79 billion.
By voltage rating, the segments are low voltage and medium voltage.
The key participants are General Electric Corp (US), Eaton Corporation PLC (Ireland), Siemens (Germany), Schneider Electric (France), ABB (Switzerland), Larsen & Toubro (India), Hager (Germany), Legrand (France), NHP Electrical Engineering Products Pty. Ltd (Australia), ESL Power Systems (US), Industrial Electric Mfg (US), and East Coast Power Systems Limited (US).