Press release
Future Growth of Middle East Distribution Panel Market Forecast to 2024 Focusing on Top Key Players - Schneider Electric SA, Abunayyan Holding, Legrand, Alfanar Group, ABB Ltd, Hawa Electric Panel Board Factory, EAMFCO, Arabian Gulf Switchgear & more
Distribution Panel
Middle East Distribution Panel Market will exceed USD 440 million by 2024. Ongoing funding activities toward the upgradation of the existing transmission & distribution infrastructure coupled with the need of efficient and reliable power supply will foster the industry growth. Furthermore, rising power consumption patterns on account of acute climate conditions will encourage the product penetration. For instance, the electricity consumption of Middle East had witnessed a significant rise from 2013 to 2017 from 831 TWh to 977 TWh respectively.
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Commercial distribution panel market will reach over USD 80 million by 2024. Extensive measures by the government authorities for diversification from the oil-based economy toward tourism industry will positively impact the business outlook. In addition, the ongoing construction of net zero buildings to optimize the consumption of electricity will encourage the product penetration.
Developmental initiatives for the expansion of industrial sector will foster the Turkey distribution panel market. Growing construction of manufacturing facilities on account of lucrative industrial policies will positively influence the product adoption. Moreover, government norms to support foreign investments coupled with favorable regulations toward import-export of electrical appliances will further stimulate the industry growth.
Qatar distribution panel market is anticipated to grow over 6% by 2024. Availability of low cost labor along with high power consumption will complement industry landscape. Moreover, the usage of IoT devices to minimize and monitor the power losses will further encourage the product penetration.
Surface mounted distribution panel market is predicted to expand over 7.5% by 2024. Rapid industrialization coupled with rising investments for refurbishment and retrofitting the ageing network will stimulate the industry growth. Moreover, key features including high efficiency and easy deployment across the hard-poured concrete walls will escalate the product installation.
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Notable players across Middle East distribution panel market are Schneider Electric SA, Abunayyan Holding, Legrand, Alfanar Group, ABB Ltd, Hawa Electric Panel Board Factory, EAMFCO, Arabian Gulf Switchgear, Ba`amer Electric and Hager.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Middle East Distribution Panel Industry Insights
Chapter 4. Middle East Distribution Panel Market, By Voltage
Chapter 5. Middle East Distribution Panel Market, By Product
Chapter 6. Middle East Distribution Panel Market, By End Use
Chapter 7. Middle East Distribution Panel Market, By Region
Chapter 8. Company Profiles
More Details on this Report At: https://www.marketstudyreport.com/reports/middle-east-distribution-panel-market
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