Press release
A Deep Dive into Distribution Board Market 2025: Key Drivers, Growth Factors, and Projections 2025-2034
Distribution Board Market
The growth of the distribution board market is projected to be propelled by increasing demands for electricity in the forthcoming years. Electricity, an energy form that can be wire-transmitted, is utilized for purposes such as heating, lighting, and powering machines. With the rise in household income, the electrification of transportation and heat, and growing demands for digitally integrated devices and air conditioning, the consumption of electricity is set to grow exponentially. The distribution board (DB) serves to provide buildings with electrical power. Here, the main supply cable enters the board and is divided among the breakers, which then distribute it to all the circuits. The World Energy Outlook predicts that, until 2040, global demand for electricity is likely to grow at a rate of 2.1% per year - this is twice the rate of the primary energy of distribution board market growth.
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What is the projected compound annual growth rate (CAGR) of the distribution board market from 2025 to 2034, and what factors influence it?
In recent years, the market size of the distribution board has experienced robust growth. Its value is predicted to surge from $6.96 billion in 2024 to $7.48 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.4%. Factors such as urbanization and infrastructure development, electrification initiatives, industrialization wave, adherence to safety and regulations, changes in energy consumption patterns, competitive dynamics, and innovation have contributed to its growth in the past era.
Anticipated robust expansion is on the horizon for the distribution board market in the coming years, with its value expected to reach $10.58 billion in 2029, progressing at a compound annual growth rate (CAGR) of 9.1%. This growth during the forecasted period can be credited to factors such as upgrades to the electrical grid, modernizing building codes, the adoption of environmentally-friendly solutions, and adaptation to evolving customer needs amidst global market spread. Prominent trends expected to define this period will include the ongoing rise of digitalization and smart infrastructure, technological advancements, the growing demand for renewable energy, the emergence of modular and compact designs, and the uptick in industrial automation.
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How are the latest trends influencing the growth of the distribution board market?
The creation of advanced software tools is a pivotal trend influencing the distribution board market. Engineers can utilize these software and tools to devise PCB blueprints. It enables them to adjust design procedures, access obsolete designs from PCB databases, and corroborate circuit schematic designs. For instance, Altair, an American company specializing in computational engineering and intelligence, debuted a special iteration of Altair PollEx, an electronic system design (ESD) tool, in January 2022. This software is for Altium users and enables PCB designers to predict, enhance, and validate the manufacturing potential of PCB performance. The Altair PollEx for Altium offering is a complimentary version designed to aid a range of electrical computer-aided designs (ECAD), providing board-level simulation and design verification features effortlessly to Altium Designer users.
What are the major segments of the distribution board market and their role in driving growth?
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
Subsegments:
1) By Low Voltage: Distribution Boards (Up To 1kV), Panelboards, Consumer Units
2) By Medium Voltage: Switchgear Distribution Boards (1kV To 36kV), Ring Main Units (RMUs), Transformer Distribution Boards
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Which regions are key players in the growth of the distribution board market?
Asia-Pacific was the largest region in the distribution board market in 2024. The regions covered in the distribution board market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the distribution board market?
Major companies operating in the distribution board market include Siemens AG, General Electric Company, Schneider Electric SE, Asea Brown Boveri Ltd., Larsen & Toubro Limited, Eaton Corporation plc, Legrand, Meba Electric Enterprises Co. Ltd., Rittal GmbH & Co. KG, Havells India Ltd., Hager Group, C&S Electric Limited, Lewden Palazzoli Ltd., OEZ s.r.o., Industrial Electric Manufacturing, Delixi Electric Co. Ltd., Electroalfa Group, Arabian Gulf Switchgear Ltd., Blakley Electrics, ESL Power Systems Inc., Lovato Electric S.p.A., Norelco Industries Inc., Ba'amer Electric, INDU-Electric Gerber GmbH, Shihlin Electric & Engineering Corporation
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What Is Covered In The Distribution Board Global Market Report?
•Market Size Forecast: Examine the distribution board market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the distribution board market for a structured understanding.
•Key Players Overview: Analyze major players in the distribution board market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the distribution board market.
•Segment Contributions: Evaluate how different segments drive overall growth in the distribution board market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the distribution board market.
•Industry Challenges: Identify potential risks and obstacles affecting the distribution board market.
•Competitive Landscape: Review strategic developments in the distribution board market, including expansions, agreements, and new product launches.
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