Global Distribution Panel Market Value to Significantly Increase Over 2021-2027

November 17, 2021

According to the research report titled ‘Distribution Panel Market Size by Voltage (Low Voltage, Medium Voltage), By Mounting (Flush Mounting, Surface Mounting), By End Use (Residential, Commercial {College/University, Office, Government/Military}, Industrial {Power Generation, Chemical, Refinery, Cement}, Utility), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, global distribution panel market is projected to showcase notable growth over 2021-2027.

Ongoing investments in upgrading current transmission and distribution infrastructure, along with surge in requirement for reliable and efficient power supply technologies are the prime factors driving global distribution panel market growth.

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Further, renewable energy generation, particularly solar and wind power generating, is gaining traction worldwide, subsequently enhancing the remuneration potential of distribution panel makers. For instance, European Energy and Novo Holdings partnered in April 2021 to build new solar and wind farms in Denmark and Sweden, with an intention to accelerate the two countries' transition to green energy.

Based on voltage, low voltage segment is predicted to observe considerable growth in the coming years, owing to rising emphasis on deploying energy efficient electrical infrastructure and generating sustainable power output.

As per mounting type, surface mounting segment is expected to witness high demand over the next six years, due to shifting focus on residential establishments across urban areas.  

Moving on to end user scope, commercial segment is anticipated to significantly contribute to worldwide distribution panel industry value. Offices, colleges & universities, and government & military establishments make up the commercial segment.

In the future, offices are projected to produce a considerable demand for distribution panels. Commercial expansion and construction of new office buildings driven by rapid urbanization and booming urban population are adding to the overall market development.

Speaking of industrial gamut, power generation segment amassed USD 300 million in revenue in 2020 and is expected to expand through 2027.

Geographically, Latin America distribution panel market is projected to accrue notable returns by the year 2027, attributable to rapid urbanization and flourishing residential and commercial infrastructure in the region.

Major market players in this industry vertical are Larsen & Toubro Ltd., General Electric (GE) Company, ABB Group, Siemens AG, Schneider Electric SE, Eaton Corporation, and Legrand SA among others.

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