Distribution Panel Market is estimated to surpass $ 5.7 Billion mark in 2019 and reach USD 7.2 Billion by 2024, at a Compound Annual Growth Rate (CAGR) of 5.7% during the forecast period 2016-2024 globally. Rising installation of energy efficient electrical systems to get sustainable power output will upsurge the Distribution Panel Market size. Various labels and energy performance standards are introduced by the regulators to effectively monitor their energy consumption. As of now, more than 80 countries have defined their own energy efficiency standards & labels. In addition, manufacturers are focussing toward the development of innovative systems such as smart panels to comply with the defined standards. Increasing funding toward the electrification across remote areas of developing regions will positively influence the distribution board market share. Rising investments from financial institutions including Regional development banks, International Finance Corporation Asian Development Bank and the African Development Bank, will further foster the business landscape. Effective power supply escorted by concerns pertaining to circuit safety is anticipated to fuel the industry demand. Regulators aim to reduce distribution losses by adopting high-end electric equipment will further stimulate the business growth. The residential market had the highest market share in 2017. Flourishing real estate industry coupled with extensively growing urban population will boost the residential distribution board market. Over the past decade, increasing urbanization has significantly raised the funding in the residential real estate industry. According to the world health organization in 2014, urban population accounted for over 51% of the total global population. North America Distribution Panel Market accounted for the highest revenue in 2017 and is projected to grow at a significant rate during the forecast period. The U.S. distribution panel market in 2016, was valued over USD 1 billion. The country capital expenditure for electric and gas utility soared significantly from USD 69 billion in 2008 to USD 115 billion in 2015. Government initiatives to replace the existing aging distribution network with the efficient, cost-effective and smart systems will stimulate the product penetration. Maximize Market Research has comprehensively analyzed Distribution Panel Market emphasizing each segment keeping global and regional dynamics in perspective. The driving forces, as well as considerable restraints, have been explained in depth to attain a balanced scenario. The report classifies Distribution Panel Market into various segments such as Voltage, End-Use, and Regions providing the thorough understanding of the Distribution Panel Ecosystem. Importantly, the report delivers forecasts of the market, giving an insight into the future opportunities that exist in the Distribution Panel Market.

The Scope of the report for Distribution Panel Market

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Global Distribution Panel Market, By Voltage

 

• Low-Voltage (LV)
• Medium Voltage (MV))
• Mounting (Flush Mounting, Surface Mounting)

 

Global Distribution Panel Market , By End-Use

 

• Residential
• Commercial
• Industrial

 

Key Trends in Global Distribution Panel Market, By Geography

 

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

 

Key Players of the Distribution Panel Market

Legrand Eaton Hager GE Siemens NHP Electrical Engineering Products ABB Larsen & Toubro Industrial Electric Mfg ESL Power Systems Schneider Electric Arabian Gulf Switchgear Abunayyan Holding Meba Electric Enterprise Ba`amer Electric EAMFCO National for Electrical Panel Boards Riyadh Factory for Panel Boards Alfanar Group NAFFCO Success Stories: Key Industry Players ABB Larsen & Toubro Industrial Electric Mfg ESL Power Systems Schneider Electric

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