Market Scenario
Market Research Future (MRFR), in its latest report in the global distribution board market 2020, reveals that the distribution board market can rise at about 6.50% CAGR in the review period 2019 to 2025. BY the end of the assessment period, the distribution board global market size is likely to touch USD 8.52 Bn from USD 4.35 billion.
The increase in the need for robust primary electrical supply system in residential, industrial, and commercial areas can impel the expansion of the distribution board global market through the assessment period. The rise in the use of critical devices in the electricity distribution system to monitor and allow effective and correct distribution of electricity for proper functioning of appliances can impel the expansion of the Distribution Boards Market. In addition, the increase in need for double door distribution board and single door distribution board can promote the expansion of the distribution boards market across the assessment period. The increase in the installation of Single door distribution boards in simple applications and the ease of availability of 16-way, 4-way, and 8-way configurations can prompt the expansion of the market in the years to come. At the same time, the rise in the application of double door distribution board to serve heavy-duty operations solutions, especially in commercial applications can cause the expansion of the distribution board market in years ahead.
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Key Players
ESL Power Systems (US), NHP Electrical Engineering Products Pty. Ltd (Australia), Siemens (Germany), General Electric Corp (US), Larsen & Toubro (India), Eaton Corporation PLC (Ireland), Schneider Electric (France), ABB (Switzerland), Legrand (France), Hager (Germany), Industrial Electric Mfg. (US), and East Coast Power Systems Limited (US) are some prominent names in the distribution boards global market as listed by MRFR.
Segmental Analysis
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.
Detailed Regional Analysis
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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