What is the Historic and Current Scenario of the Distribution Board Market?
The distribution board market has seen considerable growth due to a variety of factors.
• The size of the distribution board market has seen robust growth in the past few years. It is projected to increase from $6.96 billion in 2024 to $7.48 billion in 2025, displaying a compound annual growth rate (CAGR) of 7.4%.
Factors such as urban and infrastructure development, electrification initiatives, industrialization patterns, adherence to safety and regulations, patterns in energy use, competition in the market, and innovation have all contributed to the historic growth.
What Is The Projected Growth And Market Size For The Distribution Board
The distribution board market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for a robust expansion in the distribution board market in the coming years, with projections anticipating the market's growth to be up to $10.58 billion in 2029. This represents a compound annual growth rate (CAGR) of 9.1%.
The predicted growth in this period can be traced back to various factors including upgrades to the electrical grid, advancements in building standards, the development of sustainable and eco-friendly solutions, the evolution of customer needs, and expansion on a global scale. The outlook for the forecasted period is also influenced by emerging trends such as digitalization, smart infrastructure, advanced technology, a growing demand for renewable energy, a higher preference for modular and compact designs, and an increase in industrial automation.
What Are the Critical Driver Fuelling the Distribution Board Market's Growth?
The surge in demand for electricity is projected to propel the expansion of the distribution board market in the future. Electricity, which can be conveyed via wires, serves multiple purposes including heating, lighting, and powering machines. Higher household incomes, electrification of heat and transport, along with growing needs for air conditioning and digitally interconnected devices, are likely to amplify electricity demand. The distribution board (DB) facilitates the supply of electrical power within a building. It receives the primary supply cable which is then distributed to the breakers, further providing it to all circuits. The World Energy Outlook states that the global demand for electricity is predicted to grow at a rate of 2.1 % per year until 2040, a rate that's twice the growth rate of the primary energy of the distribution board market.
What Are The Main Segments Of The Global Distribution Board Market?
The distribution board market covered in this report is segmented –
1) By Voltage: Low Voltage, Medium Voltage
2) By Mounting: Flush Mounting, Surface Mounting
3) By End-User: Transmission And Distribution Utilities, Manufacturing And Process Industries, Commercial And Residential Infrastructure, Other End-Users
Subsegments:
1) By Low Voltage: Distribution Boards (Up To 1kV), Panelboards, Consumer Units
2) By Medium Voltage: Switchgear Distribution Boards (1kV To 36kV), Ring Main Units (RMUs), Transformer Distribution Boards
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What Emerging Trends Are Influencing The Growth Of The Distribution Board Market?
The emergence of inventive software tools is a primary trend influencing the distribution board market. These software and tools assist engineers in designing a PCB blueprint. They can adapt design processes, recover old designs from the PCB libraries, and authenticate circuit schematic designs using the software. For example, in January 2022, Altair, a computational engineering and intelligence company based in the US, unveiled a special edition of Altair PollEx for Altium users. This electronic system design (ESD) software tool equips printed circuit board (PCB) designers with capabilities to predict, enhance, and validate the manufacturing feasibility of PCB performance. The free-to-use Altair PollEx for Altium is tailor-made to support various electrical computer-aided designs (ECAD) and ensures easy access to board-level simulation and design verification functions for Altium Designer users.
Who Are the Key Players in the Distribution Board Market?
Major companies operating in the distribution board market include:
• Siemens AG
• General Electric Company
• Schneider Electric SE
• Asea Brown Boveri Ltd.
• Larsen & Toubro Limited
• Eaton Corporation plc
• Legrand
• Meba Electric Enterprises Co. Ltd.
• Rittal GmbH & Co. KG
• Havells India Ltd.
• Hager Group
• C&S Electric Limited
• Lewden Palazzoli Ltd.
• OEZ s.r.o.
• Industrial Electric Manufacturing
• Delixi Electric Co. Ltd.
• Electroalfa Group
• Arabian Gulf Switchgear Ltd.
• Blakley Electrics
• ESL Power Systems Inc.
• Lovato Electric S.p.A.
• Norelco Industries Inc.
• Ba’amer Electric
• INDU-Electric Gerber GmbH
• Shihlin Electric & Engineering Corporation
What Is The Most Dominant Region In The Distribution Board Market?
Asia-Pacific was the largest region in the distribution board market in 2024. The regions covered in the distribution board market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
