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Jan 27, 2024

Global Distribution Boards Market Size is Projected to Surpass $12.71 Billion Growth by 2030, Exhibit a CAGR of 12.4%

New York, NY, May 29, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has

New York, NY, May 29, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled "Distribution Boards Market By Voltage Type (Low Voltage And Medium Voltage), By End-User (Transmission & Distribution Utilities, Manufacturing & Processing Industry, And Commercial & Residential Sector), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" in its research database.

"According to the latest research study, the demand of global Distribution Boards Market size & share in terms of revenue was valued at USD 6.11 billion in 2022 and it is expected to surpass around USD 12.71 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 12.4% during the forecast period 2023 to 2030."

What is Distribution Boards? How big is the Distribution Boards Industry?

Report Overview:

The global distribution boards industry size was nearly USD 6.11 billion in 2022 and is predicted to increase to approximately USD 12.71 billion by 2030 along with registering a CAGR of nearly 12.4% from 2023 to 2030.

Distribution board is an assembly of fuses or assembly of tiny circuit breakers arranged for distributing power supply to its destination i.e., final circuits. Furthermore, the distribution board is a key power supply system that finds application in residential and industrial sectors. Moreover, it helps in drawing power by single circuits from circuit breakers that can be isolated whenever required without disrupting of supply of electricity. Apart from this, the distribution board offers protection to the circuits & electric devices through a protective fuse for every circuit in a common electric closure.

Click Here To Access Free Sample Report of the Global Distribution Boards Market @ https://www.zionmarketresearch.com/sample/distribution-boards-market

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Our Free Sample Report Consists of the Following:

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Global Distribution Boards Market: Growth Dynamics

Surge in construction activities along with the rise in demand for protecting electric equipment & network parts will boost the global distribution boards market trends. Increase in the penetration of power supply in emerging economies will prompt the expansion of the distribution boards market across the globe. A prominent need for energy from a slew of industries and the swift development of strong energy infrastructure will shape the growth of the distribution boards market globally. Escalating deployments of solar panels and wind power turbines and demand for distribution boards in the energy utilities sector will expand the scope of the global market demand.

However, delay in the execution of distribution network ventures and a rise in product failures as well as product recalls will impede the expansion of the global distribution boards industry. Nevertheless, large-scale adoption of smart grid systems and renovation of old power infrastructure will open new growth avenues for the global industry. This, in turn, will offset the negative impact of hindrances on the distribution network industry across the globe.

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Report Scope

Distribution Boards Market: Segmentation Analysis

The global distribution boards market is divided into voltage type, end-user, and region.

In terms of voltage type, the distribution boards market globally is segmented into low voltage and medium voltage segments. Furthermore, the medium voltage segment is anticipated register the fastest CAGR during the anticipated timeline. The segmental expansion can be due to a rise in the allocation of funds for improving transmission & distribution infrastructure and setting up renewable energy units in the countries of Europe and North America. Rise in the offshore wind farms will boost segmental expansion.

On basis of end-user, the distribution boards industry across the globe is bifurcated into manufacturing & processing industry, transmission & distribution utilities, and commercial & residential segments. Moreover, the transmission & distribution utilities segment, which accounted for the largest market share in 2022, will dominate the end-user space over the forthcoming years. The segmental expansion can be a result of the replacement of old electric grids with new ones along with an increase in the capacity expansions along with upgradations of the electric grids.

The global Distribution Boards market is segmented as follows :

By Voltage Type

By End-User

Browse the full "Distribution Boards Market By Voltage Type (Low Voltage And Medium Voltage), By End-User (Transmission & Distribution Utilities, Manufacturing & Processing Industry, And Commercial & Residential Sector), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" - Report at https://www.zionmarketresearch.com/report/distribution-boards-market

Competitive Landscape

Some of the main competitors dominating the global Distribution Boards market include -

Key Insights from Primary Research :

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Key questions answered in this report:

Key Offerings:

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Regional Analysis :

The distribution boards market in the Asia-Pacific zone is expected to garner a major chunk of the global market share over the projected timeline. Apparently, the regional market expansion in the ensuing years can be due to growing urbanization, rising rates of electrification, and industrialization. Rapid upgrading of power grid infrastructure in countries such as China and India and deployment of new power transmission & distribution lines in these countries will contribute majorly towards the regional market share.

Furthermore, the distribution boards industry in the North American sub-continent will record the highest CAGR over the analysis period. The growth of the industry in the sub-continent can be attributed to rise in renewable energy projects in the countries such as the U.S. and Canada and awareness about green energy among the consumers in these countries. Launching of smart electric meters and smart electric grids as well as demand for electric vehicles will drive the regional market trends.

By Region

Recent Developments

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/distribution-boards-market

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