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Distribution Boards Market Share & Size | Industry Forecast, 2023-2030

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.

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➤ The necessity of safeguarding electrical components and networks to enhance the global market surge during the forecasting period

The global market trends will be driven by the significant need to protect electrical parts and networks, as well as the scarcity of electricity. Furthermore, the market landscape will be supported by an increase in the allocation of funds to renewable energy-producing units, the penetration of distribution boards in construction, and infrastructural growth activities. Manufacturers are prioritizing the expansion of their production capacities and the creation of customized distribution platforms. Such initiatives will facilitate the exponential expansion of the global distribution boards market over the next few years.

➤ The global industry’s expansion may be impeded by the increase in product recalls that resulted from product failures.

The expansion of the global distribution board industry can be adversely affected by an increase in product defects that result in product recalls. The global industry is being impeded by the delay in the execution of electricity distribution projects.

➤ The global market is expected to experience new development opportunities as a result of the increasing demand for robust power infrastructure facilities.

The global distribution boards market is poised for development as a result of the increasing acceptance of smart grid technology and the renovation of energy infrastructure. Furthermore, the global market will be presented with new growth opportunities as a result of the introduction of new technology for smart distribution boards, which will facilitate the elimination of inefficiency and overloads, as well as the enhancement of operational efficiency.

➤ The industry surge may be significantly impacted by the widespread availability of counterfeit products at cost-effective rates.

The expansion of the global distribution boards industry may be significantly impeded by the availability of counterfeit products at reasonable prices and the availability of alternatives.

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The Global Distribution Boards Market is segmented based on product, application and region

Global Distribution Boards Market: Product Segment Analysis

● Low voltage
● Medium Voltage

Global Distribution Boards Market: Application Segment Analysis

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

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The global Distribution Boards market profiles key players 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

???? Recent Developments

• NEC Wire & Cables Pvt. Ltd., a prominent manufacturer of industrial power distribution devices and fast-moving electrical products in India, introduced a selection of MCB distribution boards in the latter half of 2021. The expansion of the distribution board industry in India is anticipated to be facilitated by the move.

• In February 2018, Havells India Limited, a significant fast-moving electrical goods company, announced its intention to expand its business in North India by introducing new switchgear products, including ACCL, distribution boards, and circuit breakers. The distribution board market in India will experience development as a result of the initiative.

➤ From 2023 to 2030, the Asia-Pacific distribution board market is expected to experience explosive growth.

Over the forecast period, the Asia-Pacific region is anticipated to dominate the global distribution boards market growth. The expansion of the regional market in the years ahead may be contingent upon an increase in the utilization of distribution boards in the construction and manufacturing sectors of the Asia-Pacific region. The regional market trends are anticipated to be driven by a significant increase in the exploration of oil and gas reserves and the expansion of production activities. Additionally, countries such as China, Indonesia, and India are constructing new substations and installing new transmission lines to meet the energy demand. The demand for distribution boards in the sub-continent will be sustained by these developments.

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