How has the distribution board market evolved, and where is it heading next?
The distribution board market size has grown strongly in recent years. It will grow from $6.96 billion in 2024 to $7.48 billion in 2025 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to urbanization and infrastructure growth, electrification programs, industrialization trends, safety and regulatory compliance, energy consumption patterns, market competition and innovation.
The distribution board market size is expected to see strong growth in the next few years. It will grow to $10.58 billion in 2029 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to electrical grid upgrades, evolving building standards, sustainable and eco-friendly solutions, global market expansion, changing customer needs. Major trends in the forecast period include digitalization and smart infrastructure, technological advancements, rising demand for renewable energy, modular and compact designs, rise in industrial automation.
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What are the key forces behind the distribution board market’s growth in recent years?
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. According to the World Energy Outlook, global electricity demand is expected to increase at 2.1% per year until 2040, double the rate of primary energy of distribution board market growth.
What are the major segments of the distribution board market?
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 companies dominate the distribution board market?
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
What major trends will shape the distribution board market during the forecast period?
The development of innovative software tools is a key trend shaping the distribution board market. Software and tools help engineers design a blueprint of the PCB. The software allows an engineer to modify design processes, retrieve outdated designs from PCB libraries, and validate circuit schematic designs. For instance, in January 2022, Altair, a US-based company that provides computational engineering and intelligence, launched a special edition of Altair PollEx, an electronic system design (ESD) software tool, for Altium users to empower printed circuit board (PCB) designers to forecast, optimize, and confirm the manufacturing ability of PCB performance. Altair PollEx for Altium is a free version of PollEx designed to support various electrical computer-aided designs (ECAD) and it will make board-level simulation and design verification features seamlessly accessible to Altium Designer users.
What are the key regional dynamics of the distribution board market, and which region leads in market share?
The countries covered in the distribution board market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
What Does The Distribution Board Market Report 2025 Offer?
The distribution board market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A distribution board (also known as a panel board, breaker panel, or electric panel) is defined as a part of an electric distribution network that splits an electrical power flow into separate channels while supplying every circuit with a protective fuse or circuit breaker in a single frame.
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