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Middle East Distribution Panel market revenue is expected to hit USD 1.8 billion by 2023

10-05-2017 01:25 PM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Middle East Distribution Panel market revenue is expected to hit

Onset of new technologies in the power sector along with evolving electricity demand will catalyze Middle East Distribution Panel Market growth. The rising preference for smart panels, which use displays, modbus interfaces, and ethernet for transmitting information, will augment the industry growth over the coming years. Emerging sectors such as telecommunications, energy, and server sectors are slated to significantly contribute towards the market revenue over the next few years. As per Global Market Insights, Inc., research “Middle East Distribution Panel market revenue is expected to hit USD 1.8 billion by 2023.” Furthermore, growing urbanization along with escalating production of technologically upgraded products addressing the energy needs of the consumers, is anticipated to drive the middle east distribution panel industry size.

Distribution panels across middle east regions are deployed via standalone and pole mounted transformers. Standalone distribution panel market value in middle east region estimated at USD 735 million in 2015, is expected to record highest gains of 5.7% over the coming six years. Its application in electricity generation, power storage, and power control is expected to contribute significantly towards the middle east distribution panel industry revenue.

Middle East distribution panel market is primarily segmented based on their capacities such as high voltage, medium voltage, and low voltage capacities. High voltage distribution panel industry size in middle east is expected to grow at a CAGR of 5.3% over the coming timeframe, owing to its beneficial features such as low maintenance costs, durability, and miniature size.

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Medium voltage distribution panel market in middle east region worth USD 550 million in 2015, is predicted to witness a massive growth over the coming six years. High demand for impoverished power supply coupled effective middle voltage grid functioning are expected to be the key growth drivers of the region.

Below are the regional highlights pertaining to middle east distribution panel industry

UAE, which contributed over 9.5% of middle east distribution panel market share in 2015, is expected to contribute significantly towards the regional growth. High spending on construction activities, rising purchasing power, and enhanced power generation capacity are projected to catalyze the growth.

Saudi Arabia is anticipated to be the most lucrative region, and will boost middle east distribution panel industry trends over the period of 2016-2023. Population increase along with high demand for power supply are few of the key growth factors expected to contribute significantly towards the regional share.

Market players will try to increase their profits by focusing on product innovation, effective power generation, and competitive benchmarking. Key industry participants include Ba’Amer Electric Company, Hager, Schneider Electric SA, Arabian Gulf Switchgear Limited, Hawa Electric Panel Board Factory, Abunayyan Holding, ABB Group, Alfanar Company, Legrand, and EAMFCO.

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Distribution panels are insulated boards or boxes containing circuit breakers, used to make connections with main feeder lines and other branch lines. They divide electrical power supply into subsidiary circuits, and are primarily used for providing a circuit breaker or protective fuse for each circuit in a common enclosure.

The setup includes main breaker that can appropriately cut power to the entire house, along with many other circuit breakers present in the house. Each one is linked by three wires to a connection box or series of outlets along a circuit. These are switches that possess the capability of automatically cutting off electric current in case of overload or some other anomalies. In addition, it also prevents circuits overheating due to defective appliance or wiring problems.

To access sample pages or view this report in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/industry-analysis/middle-east-distribution-panel-market

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: https://gminsights.wordpress.com

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