The Distribution Board Global Market Report 2023 by The Business Research Company, provides distribution board market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Distribution Board Global Market Report 2023, the global distribution board market size grew from $5.97 billion in 2022 to $6.71 billion in 2023 at a compound annual growth rate (CAGR) of 12.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global distribution board is expected to grow to $9.27 billion in 2027 at a CAGR of 8.4%.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.
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The distribution board market 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
Smart panel board is a key trend shaping the distribution board market. Smart panel boards detect and communicate switchgear health statistics and energy usage and share the data over several network protocols including MODBUS RTU/TCP, BACnet, and EtherNet IP. Smart panel boards can save operating costs, improve safety, and anticipate future incidents. For instance, in October 2020, SMART Panelboards are created with NHP’s new concept enclosure design, which has been tested and is constructed following AS/NZS 61439.
The distribution board market report table of contents includes:
1. Executive Summary
2. Distribution Board Market Characteristics
3. Distribution Board Market Trends And Strategies
4. Distribution Board Market – Macro Economic Scenario
5. COVID-19 Impact On Distribution Board Market
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26. Africa Distribution Board Market
27. Distribution Board Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Distribution Board Market
29. Distribution Boardss Market Future Outlook and Potential Analysis
30. Appendix
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