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Distribution Board Global Market Report 2023
Major players in the distribution board market are Schneider Electric, ABB Ltd., General Electric, Industrial Electric Mfg, Legrand, Siemens, ESL Power Systems, East Coast Power Systems, Hager Group, Larsen & Toubro, Arabian Gulf Switchgear Ltd.
New York, March 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Distribution Board Global Market Report 2023" - https://www.reportlinker.com/p06248536/?utm_source=GNW
, Ba’amer Electric, Blakley Electrics, EAMFCO, Havells India Ltd., INDU-Electric Gerber GmbH, Meba Electric, Norelco, and OEZ.
The global distribution board market 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 distribution board market is expected to grow to $9.27 billion in 2027 at a CAGR of 8.4%.
The distribution board market consists of sales of low voltage distribution boards, medium voltage distribution boards, and other distribution boards.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
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.
Asia-Pacific was the largest region in the distribution board market in 2022. The regions covered in the distribution board market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main voltage types in distribution boards are low voltage and medium voltage.A low-voltage network, sometimes known as a secondary network, is a component of electric power distribution that transports electricity from distribution transformers to end-user electricity meters.
The different types of mounting include flush mounting, and surface mounting and are implemented in various sectors such as transmission and distribution utilities, manufacturing and process industries, commercial and residential infrastructure, and others.
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 growth.
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.
In March 2021, Siemens, a Germany-based industrial manufacturing company acquired C&S Electric for $284.03 million (?21 billion). With this acquisition, Siemens seeks to get access to the Indian market and establish an export hub for delivering low-voltage goods to worldwide markets. Siemens also believes that the acquisition will pave the way for the establishment of a design and manufacturing centre in India, allowing the business to export electrification solutions to emerging markets across the world. C&S Electric is an India-based manufacturer of electrical and electronic equipment including switchgear, power protection, and distribution board.
The countries covered in the distribution board market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The distribution board market research report is one of a series of new reports that provides distribution board market statistics, including distribution board industry global market size, regional shares, competitors with a distribution board market share, detailed distribution board market segments, market trends and opportunities, and any further data you may need to thrive in the distribution board industry. This distribution board market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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