Distribution Panel Market Share & Forecast Aalysis

Insights

The Distribution Panel Market was valued at US$ 6.37 Billion in 2021 and is likely to grow at a CAGR of 6.11% during 2022-2028 to reach US$ 9.71 Billion in 2028.

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What is Distribution Panel?

A distribution panel is a component of an electrical supply system that distributes electrical power into subsidiary circuits while also providing each circuit with a protective fuse or circuit breaker in a common enclosure. The distribution panel is important as it protects one from accidents such as short circuits.

Key Players

The following are some of the key players in the distribution panel market:

• ABB
• Abunayyan Holding
• Alfanar Group
• Eaton Corporation PLC
• General Electric
• Hager Group
• Industrial Electric Mfg.
• Larsen & Toubro Limited
• Legrand
• NHP
• Schneider Electric
• Siemens

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Drivers

Major factors such as the expansion of smart grids, increasing urbanization, and increasing focus on safety from operational hazards are driving the growth of the market. In addition, the development of smart distribution panels, rapid infrastructure development, and the growing construction industry are further expected to bolster the demand for distribution panels over the forecast period.

Segments Analysis

By Voltage Type

The medium voltage segment is expected to grow at a higher CAGR during the forecast period. 

The market is bifurcated into low and medium voltage.  Increasing investments in transmission & distribution infrastructure, renewable power plants, and increasing commercial and residential construction and infrastructural activities are likely to support the segment's growth over the forecast period.

By Mounting Type

Flush mounting is expected to grow at a CAGR of more than 5.9% during the forecast period.

The market is segmented into flush mounting and surface mounting. Major factors such as easy installation, high reliability, and compact size are expected to drive the growth of flush mounting during the forecast period. In addition, increasing infrastructural spending, rising electricity demand across emerging economies, and increasing development of commercial spaces are further expected to contribute to the growth of the segment in the coming years.  

By End-User Type

Among these end-user types, the residential segment is expected to lead the market, owing to the increasing demand for residential construction, as well as the growing population and rapid urbanization.

The market is segmented as residential, commercial, industrial, and utility. Furthermore, rising disposable income, government initiatives to electrify rural areas, and growing investments toward the replacement of aging power distribution infrastructure will boost the demand for distribution panels over the forecast period.

By Region

Asia-Pacific dominated the distribution panel market in 2021 and is expected to maintain its incontestable lead during the forecast period. 

Increasing demand for electricity, a growing construction industry, and stringent policies toward the replacement of aging distribution equipment are the key drivers of the regional market demand for distribution panels. Furthermore, rising electrification rates, rapid urbanization, and industrialization are likely to drive the demand for distribution panels over the forecast period.

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The distribution panel market is segmented into the following categories:

By Voltage Type

• Low
• Medium

By Mounting Type

• Flush Mounting
• Surface Mounting

By End-User Type

• Residential
• Commercial
  • Regional: North America, Europe, Asia-Pacific, and the Rest of the World
  • Type: College/University, Office, Government/Military, and Others
• Industrial
  • Regional: North America, Europe, Asia-Pacific, and the Rest of the World
  • Type: Power Generation, Chemical, Refinery, Cement, and Others
• Utility

By Region

• North America (Country: The USA, Canada, and Mexico)
• Europe (Country: Germany, France, The UK, Russia, Italy, and the Rest of Europe)
• Asia-Pacific (Country: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country: Brazil, Argentina, and Others)

Covid-19 Impact

The outbreak of the COVID-19 pandemic shook the electronics industry to the core. As a result, restrictive containment measures such as social distancing, remote working, and the closure of commercial activities exacerbated the situation, affecting the industry's supply chain, including the demand for distribution panels in 2020.

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s distribution panel market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Overview, industry life cycle analysis, supply chain analysis.
• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Trend and forecast analysis.
• Segment trend and forecast.
• Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

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Target Audience

The following is a list of the customers that the market aims to convert the most:

• Manufacturers
• Suppliers
• Distributors
• Organizations
• Government bodies.

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com.