Distribution Boards Market Size, Share, Trends, Growth 2030

Distribution Boards Industry Perspective:

The global distribution boards market size was evaluated at $6.11 Billion in 2022 and is slated to hit $12.71 Billion by the end of 2030 with a CAGR of nearly 12.4% between 2023 and 2030.

The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global marketplace. The report covers the geographical market along with a comprehensive competitive landscape analysis. Additionally, the report explores the investor and stakeholder space to help companies make data-driven decisions.

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Global Distribution Boards Market: Synopsis

A distribution board is also referred to as an electric panel breaker panel or panel board. It is a component of an electric distribution network that divides an electric power flow into different channels while supplying each circuit with a circuit breaker in a sole frame. Precisely, a distribution board is an aspect of a power supply composition that divides an electrical power feed into supplementary circuits, while offering a protecting fuse for each circuit. Reportedly, in new boards, a main switch and additional residual current breakers with over-current protection remain integrated.  Apart from this, distribution boards are finding massive applications in provisional electrical installations.

Key Insights

• As per the analysis shared by our research analyst, the global distribution boards market is projected to expand annually at the annual growth rate of around 12.4% over the forecast timespan (2023-2030)
• In terms of revenue, the global distribution boards market was evaluated at nearly $6.11 billion in 2022 and is expected to reach $12.71 billion by 2030
• The distribution board industry is anticipated to record massive growth over the forecast period due to surging demand for electricity in emerging economies.
• Based on voltage rating, the medium voltage segment is predicted to record the highest CAGR over the forecast period.
• In terms of end-user, the transmission & utilities segment is projected to account for the largest share of the global market during the predicted timespan.
• Region-wise, the Asia-Pacific distribution boards market is projected to record massive growth over the assessment timespan.

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Distribution Boards Market: Growth Factors

Need for safeguarding electrical components and networks to embellish the global market surge over the forecasting timeframe

The massive need of protecting electrical parts as well as networks and scarce power supply will drive the global market trends. In addition to this, a rise in the allocation of funds to renewable energy-producing units and penetration of distribution boards in construction, as well as infrastructural growth activities, will prop up the market landscape. Manufacturers are focusing on raising their production capacities and developing customized distribution boards. Such initiatives will enable the global distribution boards market to record exponential growth in the next couple of years.

Moreover, surging demand for electricity in emerging economies will propel the growth of the distribution board market. The growing need of protecting electric equipment and network components will provide impetus to the demand for distribution boards.

Distribution Boards Market: Hindrances

The surge in product recalls caused due to product failures can hinder the global industry expansion

A rise in product failures leading to the recall of the products can negatively inhibit the expansion of the global distribution board industry. Delay in execution of power distribution projects to put brakes on the global industry.

Distribution Boards Market: Opportunities

Rising demand for strong power infrastructure facilities is likely to open new growth opportunities for the market globally

Surging acceptance of smart grid technology & renovation of energy infrastructure to open new horizons of growth for the global distribution boards market. Furthermore, the launching of new technology for smart distribution boards enabling the removal of inefficiency and overloads along with helping in improving operational efficiency will create new growth opportunities for the global market.

Distribution Boards Market: Challenges

Easy availability of counterfeit products at cost-effective rates can pose a humungous challenge to the industry surge

Availability of counterfeit products at reasonable costs and access to alternatives can pose a big challenge to the expansion of the global distribution boards industry.

Distribution Boards Market: Segmentation

The global distribution boards market is sectored into voltage type, end-user, and region.

In terms of voltage type, the global distribution board market is divided into low-voltage and medium-voltage segments. Apparently, the medium voltage segment is predicted to record the highest CAGR during the forecast timeline. The segmental surge over the forecast period can be credited to a rise in investments in transmission & distribution infrastructure, construction & infrastructural activities, and renewable power units.  Huge demand for medium voltage distribution boards in industrial and commercial sectors will steer the segmental surge over the years to come.

Based on the end-user, the global distribution boards industry is bifurcated into transmission & distribution utilities, manufacturing & processing industry, and commercial & residential sector segments. Furthermore, the transmission & distribution utilities segment is projected to account for the largest share of the global industry in the upcoming years.

The growth of the segment over the assessment timeframe can be due to the refurbishment of transmission & distribution infrastructure in the developed countries of Europe and North America. In addition to this, the increase in deployment of solar panels with the focus of various governments on encouraging and optimizing the use of renewable energy with an objective of maintaining a clean & environment has led to the extensive application of distribution boards in the electrical grid for ensuring its safety. This, in turn, will steer the growth of the segment in the foreseeable future.

Recent Breakthroughs

• In the second half of 2021, NEC Wire & Cables Pvt. Ltd., a leading fast-moving electrical goods and industrial power distribution device manufacturer in India launched a range of MCB distribution boards. The move is predicted to benefit the expansion of the distribution board business in India.
• In February 2018, Havells India Limited, a major fast-moving electrical goods firm, declared that it is going to expand its business in North India with the launching of new switchgear products such as circuit breakers, distribution boards, and ACCL. The initiative will boost the growth of the distribution board market in India.

Distribution Boards Market Report Scope:

Distribution Boards Market: Regional Insights 

Distribution Boards Market in Asia-Pacific To Witness Mammoth Growth During 2023-2030

The Asia-Pacific region is projected to dominate the global distribution boards market growth over the forecast period. The growth of the regional market in the ensuing years can be subject to a rise in the use of distribution boards in the construction and manufacturing sectors of the Asia-Pacific region. A notable surge in the exploration of oil and gas reserves and increasing production activities are predicted to spearhead the regional market trends. Furthermore, countries such as India, Indonesia, and China are laying new transmission lines and deploying new substations to fulfill the demand for energy. These developments will prop up the demand for distribution boards in the sub-continent.

Furthermore, North America is slated to make notable contributions toward the overall industry growth in the forecasting years. The growth of the industry in the region can be credited to aging electric grid infrastructure in the countries such as the U.S. Moreover, the power utilities in countries such as the U.S. and Canada are trying to upgrade their electric grid infrastructure, thereby steering the regional industry space.

Distribution Boards Market: Competitive Insights

The distribution boards industry profiles key participants such as:

• Beluk GmbH
• Hager Group
• Siemens AG
• Schneider Electric SE
• ABB Ltd.
• Legrand
• Eaton Corporation
• DEVCO Engineering & Technologies Private Limited
• General Electric Corporation
• Larsen & Toubro Limited
• Havells India Limited
• ESL Power Systems
• D'Mak Energia Private Limited
• Radwell International
• Industrial Electric MFG
• ALSTOM Grid GmbH
• Wavecon Systems LLP
• Arabian Gulf Switchgear
• Alfred Kuhse GmbH
• Becker Mining Systems AG
• Indu-Electric Gerber GmbH.

The global distribution boards market is segmented as follows:

By Voltage Type

• Low voltage
• Medium Voltage

By End-User

• Transmission & Distribution Utilities
• Manufacturing & Processing Industry
• Commercial & Residential Sector

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa