According to MarketIntelReports’ “ Global Distribution Panel Market Professional Survey Report 2017”:
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A distribution panel consists of an insulated board having circuit breakers, where connections are made between the main feeder and branch lines. It is used in telecommunication, generators, servers, medical industry applications. The technological advancements in the power distribution panel reduce installation complexities which has resulted in self sustainability. The latest designs in the Distribution Panel Market satisfy the shorter lead time requirements. The panel board has created avenues for the growth of the industry due its benefits like efficient power supply. A smart distribution panel enhances higher penetration of the renewable resources which also benefit the market.
Scope & Regional Forecast of the Distribution Panel Market
Growing population and rising demand for electricity drive the Distribution Panel Market. The telecommunication sector is expected to have a higher demand due to the need for the power distribution box. Power companies are looking forward to reduce T&D costs. This increases the delivery efficiency.
Saudi Arabia dominated the market in 2014. Growing population and increasing demand for electricity drive the growth of power panel board in the forecast period. Less dependence on importing fossil fuels will also elevate the market growth.
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The fuse box can be divided into low voltage, medium voltage, and high voltage. The medium voltage panel is used in residential buildings and apartments. High voltage panels are used in airports, shopping malls, and industrial applications.
The real estate industry will spur the demand for the electrical distribution panel design. Increased urbanisation over the recent years has contributed to the funding in the residential real estate. Investments towards replacement of ageing power distribution impacts the growth of the market positively.
Segmentations & Key Players Involved in the Distribution Panel Market
The Distribution Panel Market can be broken down into various segments as follows:
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Product Type- Low Voltage, Medium Voltage, High Voltage.
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Application- Residential, Commercial, Industrial, and Others.
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Region- North America, China, Europe, Southeast Asia, Japan, and India.
Some of the key players involved in the Distribution Panels Market are as follows:
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Hager
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Legrand
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Meba Electric Enterprise
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Schneider Electric
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ABB Limited
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