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Increasing Electricity Demand Boost Distribution Board Market: A Key Catalyst Accelerating Distribution Board Market Growth in 2025
Distribution Board Market
Distribution Board Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for distribution boards has seen considerable growth in recent years. The market is projected to expand from $6.96 billion in 2024 to $7.36 billion in 2025, with a compound annual growth rate (CAGR) of 5.7%. The historical growth of this market can be associated with factors like urbanization and infrastructure development, electrification initiatives, industrialization shifts, adherence to safety and regulatory standards, energy use trends, competitive market forces, and technological innovation.
Distribution Board Market Size Forecast: What's the Projected Valuation by 2029?
The marketplace for distribution boards is set to experience substantial expansion in the coming years, anticipated to reach $10.23 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 8.6%. This growth throughout the forecast period can largely be credited to improvements in the electrical grid, changes in building standards, sustainable and environmentally-friendly initiatives, expansion of the international market, and shifting consumer requirements. Key trends to watch for during the forecast period encompass digitalization and intelligent infrastructure, technological progression, increased demand for renewable energy, compact and modular designs, and the surge in industrial automation.
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What Are the Drivers Transforming the Distribution Board Market?
Anticipated growth in electricity consumption will likely drive an upward trajectory in the distribution board market in the near future. Electricity, an energy form which can be wired for applications like heating, lighting, and powering machinery, is projected to experience increased demand. Factors contributing to this include rise in household incomes, transport and heat electrification, and a growing preference for air conditioning and digitally connected gadgets. Electricity within structures is provided through a distribution board (DB). The main supply cable is fed into the board, split into breakers, and then sent to every circuit. The World Energy Outlook has projected that electricity demand worldwide will rise by 2.1% annually by 2040, twice the percentage for primary energy of distribution board market expansion.
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What Trends Will Shape the Distribution Board Market Through 2029 and Beyond?
The progression in the creation of advanced software instruments is a significant trend affecting the distribution board market. These software tools assist engineers in constructing PCB blueprints. The program enables an engineer to adapt design methods, recover obsolete designs from PCB libraries, and verify circuit schematic designs. For example, Altair, a US firm specializing in computational engineering and intelligence, launched a unique version of Altair PollEx in January 2022. This electronic system design (ESD) software tool supports PCB designers in predicting, enhancing, and verifying the manufactureability of PCB performance. Altair PollEx for Altium is a complimentary edition of PollEx developed to accommodate varied electrical computer-aided designs (ECAD), providing board-level simulation and design verification features effortlessly to users of Altium Designer.
Which Segments in the Distribution Board Market Offer the Most Profit Potential?
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 Firms Dominate the Distribution Board Market by Market Share and Revenue in 2025?
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
Which Regions Offer the Highest Growth Potential in 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.
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