Distribution Board Global Market To Reach Value Of $8 Billion In 2025
3 Aug, 2021
The distribution board market consists of sales of distribution boards by entities (organizations, sole traders, and partnerships) that manufacture low voltage and medium voltage distribution boards. A distribution board (also known as a panel board, breaker panel, or electric panel) is a part of an electric distribution network that splits an electrical power flow into separate channels while supplying every circuit with a protective fuse or circuit breaker in a single frame.
Global Distribution Board Market Size And Drivers:
The global distribution board market is expected to grow from $4.39 billion in 2020 to $5.19 billion in 2021 at a compound annual growth rate (CAGR) of 18.2%. The growth is mainly due to increase in electricity demand which can be attributed to the growing urbanization and growing demand for electronics. The market is expected to reach $8.01 billion in 2025 at a CAGR of 11.5%. The increasing electricity demand is expected to fuel the growth of the distribution board market in the coming years.
Request For A Sample For The Global Distribution Board Market Report:
Trends In The Global Distribution Board Market
The smart panel board is a key trend shaping the distribution board market. Smart panel boards detect and communicate switchgear health statistics and energy usage and share the data over several network protocols. Smart panel boards can save operating costs, improve safety, and anticipate future incidents. For instance, in October 2020, SMART Panel boards created with new concept enclosure design, which has been tested and is constructed following the regulations.
Global Distribution Board Market Segments:
The global distribution board market is further segmented based on voltage, mounting, end user and geography.
By Voltage: Low Voltage, Medium Voltage
By Mounting: Flush Mounting, Surface Mounting
By End-User: Transmission And Distribution Utilities, Manufacturing And Process Industries, Commercial And Residential Infrastructure, Others
By Geography: The global distribution board market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the distribution board market in 2020.
Read More On The Report For The Global Distribution Board Market At:https://www.thebusinessresearchcompany.com/report/distribution-board-global-market-report
Distribution Board Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides distribution board market overviews, analyzes and forecasts market size and growth for the global distribution board market, distribution board market share, distribution board market players, distribution board market segments and geographies, distribution board market’s leading competitors’ revenues, profiles and market shares. The distribution board market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.