The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

According to The Business Research Company’s Distribution Board Global Market Report 2023, the global distribution board market is expected to grow from $7.75 billion in 2022 to $8.53 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The distribution board market size is expected to grow to $12.2 billion in 2027 at a CAGR of 9.4%.

Asia-Pacific held the largest distribution board market share, and Western Europe was the fastest-growing region in 2022.

Distribution Board Market Driver
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 growth.

View More On The Distribution Board Market Report 2023 – https://www.thebusinessresearchcompany.com/report/distribution-board-global-market-report

Key Distribution Board Market Segments
1) By Voltage: Low Voltage, Medium Voltage
2) By Mounting: Flush Mounting, Surface Mounting
3) By End-User: Transmission And Distribution Utilities, Manufacturing And Process Industries, Commercial And Residential Infrastructure, Other End-Users

Distribution Board Market Prominent Players
Major players in the distribution board market are Schneider Electric, ABB Ltd., General Electric, Industrial Electric Mfg, Legrand, Siemens, ESL Power Systems

Request A Sample Of The Global Distribution Board Market Report 2023:
https://www.thebusinessresearchcompany.com/sample.aspx?id=5186&type=smp

Prominent Distribution Board Market Trend
Smart panel board is a key trend shaping the distribution board market. Smart panel boards detect and communicate switchgear health statistics and energy usage and share the data over several network protocols including MODBUS RTU/TCP, BACnet, and EtherNet IP. Smart panel boards can save operating costs, improve safety, and anticipate future incidents. For instance, in October 2020, SMART Panelboards are created with NHP’s new concept enclosure design, which has been tested and is constructed following AS/NZS 61439.

The Distribution Board Global Market Report 2023  provides comprehensive insights on the distribution board market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the distribution board market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Warehouse Automation Global Market Report 2023
Warehouse Robotics Global Market Report 2023
General Warehousing And Storage Global Market Report 2023

Learn More About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model