Global Electrical Distribution Boards Market Size By Voltage Rating, By usage, By End-user industry, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Electrical Distribution Boards Market Size By Voltage Rating, By usage, By End-user industry, By Geographic Scope And Forecast
Electrical Distribution Boards Market Size and Forecast
Electrical Distribution Boards Market size was valued at USD 5.11 Billion 2023 and is projected to reach USD 9.13 Billion by 2030, growing at a CAGR of 8.1% during the forecasted period 2024 to 2030.
Global Electrical Distribution Boards Market Drivers
The growth and development of the Electrical Distribution Boards Market drivers. These factors have a big impact on how Electrical Distribution Boards are demanded and adopted in different sectors. Several of the major market forces are as follows
Rapid Urbanisation and IndustrializationAs electrical distribution boards are necessary for effective power distribution in residential, commercial, and industrial structures, urbanisation and industrial development are the main drivers of demand for these boards.
Growing Construction ActivitiesThe need for electrical distribution boards is fueled by the expansion of infrastructure and construction projects globally, including residential, commercial, and industrial expansions.
Integration of Renewable EnergyDistribution boards are in greater demand as a result of the growing use of renewable energy sources like solar and wind power, which call for effective electrical distribution systems.
Upgrading Ageing InfrastructureThe need for contemporary electrical distribution boards is influenced by the replacement and improvement of antiquated electrical infrastructure in both industrialised and emerging nations.
Technological AdvancementsThe market is expanding as a result of developments in electrical distribution board technologies, such as smart and connected distribution boards. These developments improve electrical system management overall, monitoring capabilities, and efficiency.
Strict Safety StandardsGovernments and regulatory agencies enforce strict safety standards and regulations, which drive the industry by requiring the use of high-quality and compliant electrical distribution boards.
Growing Energy DemandThe demand for electrical distribution boards in a variety of applications is increased by the world’s expanding energy needs as well as the requirement for dependable and effective power distribution.
Trends in Smart BuildingsThe increasing popularity of intelligent infrastructure and smart buildings, which connect electrical systems with control and building automation systems, is driving the need of sophisticated electrical distribution boards.
Expansion of Data CentresTo guarantee a continuous supply of electricity, the development of digital technologies and cloud computing has led to an expansion of data centres, which calls for reliable electrical distribution systems, including distribution boards.
Emphasis on Energy EfficiencyUsing energy-efficient electrical distribution boards and components is encouraged by the focus on sustainability and energy efficiency in building design and construction.
Residential Construction BoomThe need for electrical distribution boards for residential power distribution has increased as a result of the rise in residential construction, especially in emerging nations.
Electrification of TransportationThe demand for electrical distribution boards in transportation-related applications is fueled by the growing use of electric vehicles and the requirement for infrastructure for electric charging.
Global Electrification InitiativesThe need for electrical distribution boards to expand power distribution networks is fueled by government initiatives and investments in electrification projects, particularly in rural and isolated areas.
Global Electrical Distribution Boards Market Restraints
The Global Electrical Distribution Boards Market has a lot of room to grow, but there are several industry limitations that could make it harder for it to do so. It’s imperative that industry stakeholders comprehend these difficulties. Among the significant market limitations are
High upfront CostsInvesting in and installing sophisticated or specialised electrical distribution boards can come with a hefty upfront cost, which could be a deterrent for projects that are tight on funds.
Lack of Skilled LabourIt may be necessary to have a skilled labour force to install and maintain modern electrical distribution boards. The broad adoption of cutting-edge technologies may be hampered by the lack of skilled workers.
Slow Adoption of Smart TechnologiesDespite being a driver, the incorporation of smart technologies in electrical distribution boards may also be a hindrance because of how slowly these technologies are being adopted in some areas or sectors of the economy.
Tight Regulatory ComplianceEnsuring that electrical distribution boards satisfy the essential safety and performance requirements can be difficult when it comes to complying with strict regulatory standards and regulations. This is particularly true for manufacturers and users.
Resistance to ChangeThe adoption of contemporary electrical distribution boards and technologies may be slowed down in some industries or regions by resistance to change and conventional practices.
Cybersecurity ConcernsAs digital technologies are increasingly incorporated into electrical distribution boards, worries about cybersecurity and possible weaknesses in smart systems may serve as a brake.
Environmental Impact ConcernsIf electrical distribution boards include hazardous materials, there may be environmental effects associated with their manufacture and disposal that could raise red flags with regulators and consumers.
Complexity in RetrofittingProjects looking to improve their electrical systems may find it difficult or prohibitively expensive to retrofit new electrical distribution boards into existing buildings or infrastructure.
Market FragmentationWith multiple manufacturers providing a broad range of products, the market for electrical distribution boards may be fragmented. This disarray may make standardisation and interoperability difficult.
Price volatility for Raw MaterialsPrice fluctuations for raw materials, like copper and aluminium, which are necessary for the construction of electrical distribution boards, can affect the cost of production and, consequently, the cost of the final product.
Limited Education and AwarenessAdoption may be hampered by end users’ lack of knowledge about the advantages of sophisticated electrical distribution boards, particularly in some areas.
Economic UncertaintyThe demand for electrical distribution boards may be impacted by economic uncertainties, such as recessions and financial downturns, which may result in lower investments in infrastructure development and building projects.
Global Electrical Distribution Boards Market Segmentation Analysis
The Electrical Distribution Boards Market is segmented on the basis of Voltage Rating, usage, End-user industry, And Geography.
By Voltage Rating
Low Voltage Distribution BoardsLow Voltage Distribution Boards are frequently used in industrial, commercial, and residential settings, and are typically employed for voltages up to 600V.
Medium Voltage Distribution BoardsFrequently utilised in utility and industrial applications, these boards are made for greater voltage requirements.
By Usage
Residential Distribution BoardsDesigned specifically for residential usage, frequently with fewer circuits and lower voltage.
Commercial Distribution Boardsintended for businesses with small to medium-sized spaces.
Industrial Distribution BoardsDesigned to handle the intricate requirements of industrial facilities for power distribution.
By End-user industry
Manufacturing and processing sectorsThe manufacturing and processing sectors provide the power distribution needs of factories and processing centres.
Commercial BuildingsSupplying offices, shopping centres, and other commercial buildings with the electricity they require.
Residential BuildingsOffering solutions for apartment buildings and single-family houses’ electricity distribution.
By Geography
North AmericaExamining dynamics and trends in the markets of the US, Canada, and Mexico.
EuropeAnalysing the markets for electrical distribution boards in nations including France, Germany, and the United Kingdom.
Asia-PacificUnderstanding the state of the markets in nations like China, Japan, and India.
Key Players
The major players in the Electrical Distribution Boards Market are
Siemens AG
ABB Ltd
Eaton Corporation PLC
Schneider Electric SE
Legrand SA
Larsen & Toubro Limited (L&T)
Havells India Ltd
Chint Group
Panasonic Corporation
Mitsubishi Electric Corporation
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2030
BASE YEAR
2023
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Siemens AG, ABB Ltd, Eaton Corporation PLC, Schneider Electric SE, Legrand SA, Larsen & Toubro Limited (L&T), Havells India Ltd, Chint Group, Panasonic Corporation, Mitsubishi Electric Corporation
SEGMENTS COVERED
Voltage Rating, usage, End-user industry, And Geography
CUSTOMIZATION SCOPE
Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope
Top Trending Reports
Research Methodology of Market Research
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
Customization of the Report
• In case of any  please connect with our sales team, who will ensure that your requirements are met.
Table of Content
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
List Tables Figures
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
For a single, multi and corporate client license, the report will be available in PDF format.
Sample report would be given you in excel format. For more questions please contact:
Sample Report for Global Electrical Distribution Boards Market Size By Voltage Rating, By usage, By End-user industry, By Geographic Scope And Forecast
