Global Distribution Boards Market Size is Projected to Surpass $12.71 Billion Growth by 2030, Exhibit a CAGR of 12.4%
[199 + Pages Report] According to a market research study published by Zion Market Research, the demand analysis of Global Distribution Boards Market size & share revenue was valued at around USD 6.11 billion in 2022 and is estimated to grow about USD 12.71 billion by 2030, at a CAGR of approximately 12.4% between 2023 and 2030. The key market players are listed in the report with their sales, revenues and strategies are Beluk GmbH, Hager Group, Siemens AG, Schneider Electric SE, ABB Ltd., Legrand, Eaton Corporation, DEVCO Engineering & Technologies Private Limited, General Electric Corporation, Larsen & Toubro Limited, Havells India Limited, ESL Power Systems, D'Mak Energia Private Limited, Radwell International, Industrial Electric MFG, ALSTOM Grid GmbH, Wavecon Systems LLP, Arabian Gulf Switchgear, Alfred Kuhse GmbH, Becker Mining Systems AG, Indu-Electric Gerber GmbH, and others.
New York, NY, May 29, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled *“Distribution Boards Market By Voltage Type (Low Voltage And Medium Voltage), By End-User (Transmission & Distribution Utilities, Manufacturing & Processing Industry, And Commercial & Residential Sector), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030”* in its research database.
“According to the latest research study, the demand of global Distribution Boards Market size & share in terms of revenue was valued at USD 6.11 billion in 2022 and it is expected to surpass around USD 12.71 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 12.4% during the forecast period 2023 to 2030.”
*What is Distribution Boards? How big is the Distribution Boards Industry?*
*Report Overview:*
The global distribution boards industry size was nearly USD 6.11 billion in 2022 and is predicted to increase to approximately USD 12.71 billion by 2030 along with registering a CAGR of nearly 12.4% from 2023 to 2030.
Distribution board is an assembly of fuses or assembly of tiny circuit breakers arranged for distributing power supply to its destination i.e., final circuits. Furthermore, the distribution board is a key power supply system that finds application in residential and industrial sectors. Moreover, it helps in drawing power by single circuits from circuit breakers that can be isolated whenever required without disrupting of supply of electricity. Apart from this, the distribution board offers protection to the circuits & electric devices through a protective fuse for every circuit in a common electric closure.
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*Our Free Sample Report Consists of the Following:*
· Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
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· About 199+ Pages Research Report (Including Recent Research)
· Provide detailed chapter-by-chapter guidance on Request
· Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
· Includes Tables and figures have been updated
· The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
· Zion Market Research research methodology
*(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)*
*Global Distribution Boards Market: Growth Dynamics*
Surge in construction activities along with the rise in demand for protecting electric equipment & network parts will boost the global distribution boards market trends. Increase in the penetration of power supply in emerging economies will prompt the expansion of the distribution boards market across the globe. A prominent need for energy from a slew of industries and the swift development of strong energy infrastructure will shape the growth of the distribution boards market globally. Escalating deployments of solar panels and wind power turbines and demand for distribution boards in the energy utilities sector will expand the scope of the global market demand.
However, delay in the execution of distribution network ventures and a rise in product failures as well as product recalls will impede the expansion of the global distribution boards industry. Nevertheless, large-scale adoption of smart grid systems and renovation of old power infrastructure will open new growth avenues for the global industry. This, in turn, will offset the negative impact of hindrances on the distribution network industry across the globe.
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*Report Scope*
*Report Attribute* *Details*
Market Size in 2022 USD 6.11 billion
Projected Market Size in 2030 USD 12.71 billion
CAGR Growth Rate 12.4% CAGR
Base Year 2022
Forecast Years 2023-2030
Key Market Players Beluk GmbH, Hager Group, Siemens AG, Schneider Electric SE, ABB Ltd., Legrand, Eaton Corporation, DEVCO Engineering & Technologies Private Limited, General Electric Corporation, Larsen & Toubro Limited, Havells India Limited, ESL Power Systems, D'Mak Energia Private Limited, Radwell International, Industrial Electric MFG, ALSTOM Grid GmbH, Wavecon Systems LLP, Arabian Gulf Switchgear, Alfred Kuhse GmbH, Becker Mining Systems AG, and Indu-Electric Gerber GmbH.
Key Segment By Voltage Type, By End-User, And By Region
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Purchase Options Request customized purchase options to meet your research needs. Explore purchase options
*Distribution Boards Market: Segmentation **Analysis*
The global distribution boards market is divided into voltage type, end-user, and region.
In terms of voltage type, the distribution boards market globally is segmented into low voltage and medium voltage segments. Furthermore, the medium voltage segment is anticipated register the fastest CAGR during the anticipated timeline. The segmental expansion can be due to a rise in the allocation of funds for improving transmission & distribution infrastructure and setting up renewable energy units in the countries of Europe and North America. Rise in the offshore wind farms will boost segmental expansion.
On basis of end-user, the distribution boards industry across the globe is bifurcated into manufacturing & processing industry, transmission & distribution utilities, and commercial & residential segments. Moreover, the transmission & distribution utilities segment, which accounted for the largest market share in 2022, will dominate the end-user space over the forthcoming years. The segmental expansion can be a result of the replacement of old electric grids with new ones along with an increase in the capacity expansions along with upgradations of the electric grids.
*The global Distribution Boards market is segmented as follows*:
*By Voltage Type*
· Low voltage
· Medium Voltage
*By End-User*
· Transmission & Distribution Utilities
· Manufacturing & Processing Industry
· Commercial & Residential Sector
Browse the full *“Distribution Boards Market By Voltage Type (Low Voltage And Medium Voltage), By End-User (Transmission & Distribution Utilities, Manufacturing & Processing Industry, And Commercial & Residential Sector), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030”*- Report at https://www.zionmarketresearch.com/report/distribution-boards-market
*Competitive Landscape*
Some of the main competitors dominating the global Distribution Boards market include -
· Beluk GmbH
· Hager Group
· Siemens AG
· Schneider Electric SE
· ABB Ltd.
· Legrand
· Eaton Corporation
· DEVCO Engineering & Technologies Private Limited
· General Electric Corporation
· Larsen & Toubro Limited
· Havells India Limited
· ESL Power Systems
· D'Mak Energia Private Limited
· Radwell International
· Industrial Electric MFG
· ALSTOM Grid GmbH
· Wavecon Systems LLP
· Arabian Gulf Switchgear
· Alfred Kuhse GmbH
· Becker Mining Systems AG
· Indu-Electric Gerber GmbH.
* Key Insights from Primary Research**:*
· According to the analysis shared by our research forecaster, the Distribution Boards market is likely to expand at a CAGR of around 12.4% during the forecast period (2023-2030).
· In terms of revenue, the Distribution Boards market size was valued at around US$ 6.11 billion in 2022 and is projected to reach US$ 12.71 billion by 2030.
· The distribution board industry is anticipated to record massive growth over the forecast period due to surging demand for electricity in emerging economies.
· Based on voltage rating, the medium voltage segment is predicted to record the highest CAGR over the forecast period.
· In terms of end-user, the transmission & utilities segment is projected to account for the largest share of the global market during the predicted timespan.
· Region-wise, the Asia-Pacific distribution boards market is projected to record massive growth over the assessment timespan.
*Have Any Query? Ask Our Experts:* https://www.zionmarketresearch.com/inquiry/distribution-boards-market
*Key questions answered in this report:*
· What is the market size and growth rate forecast for Distribution Boards industry?
· What are the main driving factors propelling the Distribution Boards Market forward?
· What are the leading companies in the Distribution Boards Industry?
· What segments does the Distribution Boards Market cover?
· How can I receive a free copy of the Distribution Boards Market sample report and company profiles?
*Key Offerings:*
· Market Size & Forecast by Revenue | 2023−2030
· Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
· Market Segmentation – A detailed analysis By Voltage Type, By End-User, And By Region
· Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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*(We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.)*
*Regional Analysis**:*
The distribution boards market in the Asia-Pacific zone is expected to garner a major chunk of the global market share over the projected timeline. Apparently, the regional market expansion in the ensuing years can be due to growing urbanization, rising rates of electrification, and industrialization. Rapid upgrading of power grid infrastructure in countries such as China and India and deployment of new power transmission & distribution lines in these countries will contribute majorly towards the regional market share.
Furthermore, the distribution boards industry in the North American sub-continent will record the highest CAGR over the analysis period. The growth of the industry in the sub-continent can be attributed to rise in renewable energy projects in the countries such as the U.S. and Canada and awareness about green energy among the consumers in these countries. Launching of smart electric meters and smart electric grids as well as demand for electric vehicles will drive the regional market trends.
*By Region*
· North America
· U.S.
· Canada
· Rest of North America
· Europe
· France
· UK
· Spain
· Germany
· Italy
· Rest of Europe
· Asia Pacific
· China
· Japan
· India
· South Korea
· Rest of Asia Pacific
· The Middle East & Africa
· Saudi Arabia
· South Africa
· Rest of the Middle East & Africa
· Latin America
· Brazil
· Argentina
· Rest of Latin America
*Recent Developments*
· In 2019, Sterlite Power, a key Indian player in the private power transmission sector, received a letter of award for 2 projects worth more than INR 3000/- crore for a Udupi-Kasaragod project that included electric lines and gas-insulated substations. Reportedly, the project is anticipated to make use of a distribution board for effectively handling electric instruments & network transmission. The move will boost the expansion of the distribution boards industry in India and across the Asia-Pacific zone.
· In 2019, the power consumption in the Asia-Pacific was nearly 260 exajoules, which was nearly over 40% of global energy. Moreover, the Asia-Pacific will make major contributions to the overall energy industry share in the near future, thereby creating a huge demand for distribution boards in the region.
*To know an additional revised 2023 list of market players, request a brochure of the report:* https://www.zionmarketresearch.com/requestbrochure/distribution-boards-market
FREQUENTLY ASKED QUESTIONS
· What is distribution boards?
· Which key factors will influence global distribution boards market growth over 2023-2030?
· What will be the value of the global distribution boards market during 2023-2030?
· What will be the CAGR value of the global distribution boards market during 2023-2030?
· Which region will record the highest growth in the distribution boards industry globally?
· Which are the major players leveraging the global distribution boards market growth?
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