Market Size of Distribution Board Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Distribution Board Market Analysis
The distribution board market is expected to rise at a CAGR of more than 3% during the forecast period of 2020-2025. Factors such as increasing energy demands from the industries and rapid infrastructure growth in the energy sector are likely to drive the distribution board market. However, delays in the implementation of the distribution projects are expected to restrain the distribution board market.
- Due to the increasing number of renewable energy installations that require a distribution board for the safety of various electric equipment, the power utilities segment is expected to be the largest growing segment for the distribution board market during the forecast period.
- The new technology of smart distribution boards, which enable to pinpoint overloads and inefficiencies proactively, and make informed decisions that improve operational efficiency will likely create several opportunities for the distribution board market in the future.
- Due to its increasing demand for electricity and the rising electricity generation projects and connecting them in the country's grid, Asia-Pacific is expected to be the largest market for distribution board.
