Press release
Distribution Board Market: Key Trends and Competitor Analysis Report 2024-2033
Distribution Board Market
Distribution Board Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $9.9 billion In 2028 At A CAGR Of 8.8% :
The distribution board market size has grown strongly in recent years. It will grow from $6.54 billion in 2023 to $7.08 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to urbanization and infrastructure growth, electrification programs, industrialization trends, safety and regulatory compliance, energy consumption patterns, market competition and innovation.
The distribution board market size is expected to see strong growth in the next few years. It will grow to $9.9 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to electrical grid upgrades, evolving building standards, sustainable and eco-friendly solutions, global market expansion, changing customer needs. Major trends in the forecast period include digitalization and smart infrastructure, technological advancements, rising demand for renewable energy, modular and compact designs, rise in industrial automation.
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Distribution Board Market Major Segments
The distribution board market covered in this report is segmented -
1) By Voltage: Low Voltage, Medium Voltage
2) By Mounting: Flush Mounting, Surface Mounting
3) By End-User: Transmission And Distribution Utilities, Manufacturing And Process Industries, Commercial And Residential Infrastructure, Other End-Users
Key Driver - Increasing Electricity Demand Boost Distribution Board Market
The increasing electricity demand is expected to fuel the growth of the distribution board market in the coming years. Electricity is a form of energy that can be transmitted through wires and is used for heating, lighting, and machine power. As a result of increased household incomes, electrification of transportation and heat, and increasing demand for digitally connected devices and air conditioning, electricity demand is expected to rise even further. The electrical power is supplied within the building through a distribution board (DB). The primary supply cable enters the board and is dispersed to the breakers, which subsequently distribute it to all of the circuits. According to the World Energy Outlook, global electricity demand is expected to increase at 2.1% per year until 2040, double the rate of primary energy of distribution board market growth.
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Prominent Trend - Altair Revolutionizes PCB Design With Altium-Compatible Altair Pollex
The development of innovative software tools is a key trend shaping the distribution board market. Software and tools help engineers design a blueprint of the PCB. The software allows an engineer to modify design processes, retrieve outdated designs from PCB libraries, and validate circuit schematic designs. For instance, in January 2022, Altair, a US-based company that provides computational engineering and intelligence, launched a special edition of Altair PollEx, an electronic system design (ESD) software tool, for Altium users to empower printed circuit board (PCB) designers to forecast, optimize, and confirm the manufacturing ability of PCB performance. Altair PollEx for Altium is a free version of PollEx designed to support various electrical computer-aided designs (ECAD) and it will make board-level simulation and design verification features seamlessly accessible to Altium Designer users.
Distribution Board Market Players
Major companies operating in the distribution board market report are Siemens AG, General Electric Company, Schneider Electric SE, Fujitsu General Limited, Asea Brown Boveri Ltd., Larsen & Toubro Limited, Eaton Corporation plc, Delta Electronics Inc., Legrand, Meba Electric Enterprises Co. Ltd., Rittal GmbH & Co. KG, Havells India Ltd., Hager Group, C&S Electric Limited, Sterlite Power Transmission Ltd., Lewden Palazzoli Ltd., OEZ s.r.o., Industrial Electric Manufacturing, Delixi Electric Co. Ltd., Electroalfa Group, Arabian Gulf Switchgear Ltd., East Coast Power Systems, Blakley Electrics, Kohler Power Systems, ESL Power Systems Inc., Lovato Electric S.p.A., Norelco Industries Inc., Ba'amer Electric, Eastern Arabian Maintenance and Fabrication Company, INDU-Electric Gerber GmbH, Shihlin Electric & Engineering Corporation, Mennekes Elektrotechnik GmbH & Co. KG
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the distribution board market in 2023. The regions covered in the distribution board market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Distribution Board Market Report Structure
3. Distribution Board Market Trends And Strategies
4. Distribution Board Market - Macro Economic Scenario
5. Distribution Board Market Size And Growth
…..
27. Distribution Board Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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