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).

NEW YORK, NEW YORK, USA, February 12, 2022 /EINPresswire.com/ -- 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.

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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.

Major Key Players -

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)

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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.

Intended Audience
Electric utilities
Government and research organization
Consulting companies in the distribution boards industry
Investors and shareholders
State electricity boards
Distribution board manufacturers

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.

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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.

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