The Distribution Board Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Distribution Board Global Market Report 2024, The distribution board market size has grown strongly in recent years. It will grow from $6.54 billion in 2023 to $7.08 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. 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 $9.9 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. 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.
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.
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The distribution board market covered in this report is segmented –
1) Distribution Board Market By Voltage: Low Voltage, Medium Voltage
2) Distribution Board Market By Mounting: Flush Mounting, Surface Mounting
3) Distribution Board Market By End-User: Transmission And Distribution Utilities, Manufacturing And Process Industries, Commercial And Residential Infrastructure, Other End-Users
Companies operating in the distributed board market are inventing new products to sustain their position in the market. A board connector system is a solution used to join printed circuit boards (PCBs) together electrically and mechanically. For instance, in June 2022, MetraAV, a US-based commercial, and residential integration products manufacturer launched Big Dog Power Smart Power Distribution Unit (PDU) to solve technical issues The unique features of the product include remote control, smart home integration, surge protection, and rack temperature control, among others.
The distribution board market report table of contents includes:
1. Executive Summary
2. Distribution Board Market Characteristics
3. Distribution Board Market Trends And Strategies
4. Distribution Board Market - Macro Economic Scenario
5. Global Distribution Board Market Size and Growth
.....
32. Global Distribution Board Market Competitive Benchmarking
33. Global Distribution Board Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Distribution Board Market
35. Distribution Board Market Future Outlook and Potential Analysis
36. Appendix
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