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Distribution boards market forecast 2021 projects the market to grow at a CAGR Of 6.4% and Reach USD 5.91 Billion

Press Release   •   May 26, 2016 05:49 EDT

The overall industrial growth worldwide and the increasing demand for construction and infrastructure to drive the demand for electricity supply system products . A Detailed research study on The global distribution boards market for the time period of 2016 to 2021 projects the market to grow at a Compound annual Growth of 6.4% . This growth is mainly attributed due to the immense growth In the construction industry to fulfill the growing needs of the rising population ,this has led to increasing demand for power supply giving rise to the power transmission & distribution market which simultaneously has driven the market for electricity supply system products like distribution boards panel-board, breaker panel, or electric panel
“Distribution boards market projected to grow at a CAGR of 6.4% from 2016 to 2021”
The distribution boards market is projected to reach USD 5.91 billion by 2021, growing at a CAGR of 6.4% during the forecast period. The distribution board plays a crucial role in the power sector across various segments, including power generation, transmission &distribution, and equipment protection. The growing need to protect electrical networks and components, investments in renewable power plants, and increasing construction & infrastructural activities are expected to drive he global distribution boards market.

Complete report, on Distribution Boards Market spread across 160 pages, with 73 tables and 49 figures is now available at http://www.rnrmarketresearch.com/distribution-boards-market-by-voltage-rating-low-voltage-medium-voltage-by-end-user-transmission-distribution-utilities-manufacturing-processing-industry-commercial-residential-sector-and-others-and-ds-to-2021-market-report.html

This Research report studies the distribution board market on the basis of low and medium voltage. The detailed analysis shows a trend that projects the medium voltage market to grow at higher CAGR for the foretasted period from 2016 to 2021. This growth is mainly due to the constant and increasing investment made in power transmission and electric distribution infrastructure, increasing investment in renewable energy and overall growth in the construction sector . Developing countries like India,South Africa and Nigeria and other developing Countries will drive the low voltage distribution panel market at a rapid pace during the projected period
“Transmission & distribution utilities: The fastest-growing end-user segment”
Transmission &distribution utilities are estimated to constitute the fastest-growing end-user segment of the distribution boards market. This can be attributed to the increasing investments in transmission & distribution infrastructure in developed economies; North America and Europe are investing heavily in upgrading their existing transmission &distribution infrastructure. The manufacturing &processing Industry is the second fastest growing end-user segment for distribution boards, owing to increased activities in the construction and manufacturing, mining, oil & gas, automotive, and pharmaceuticals industries. Distribution boards are also used in renewable power plant, transportation (railway traction systems, ports, and airports),marine, and offshore applications.
This Report on Distribution Boards Market is segmented on end users based on transmission and distribution utilities , manufacturing and processing industry, commercial & residential sector, and others, which include marine, transportation (rail traction systems, ports, and airports), mining, and offshore applications . The transmission & distribution utilities had a higher market share in Distribution Boards Market in 2015. The current transmission & distribution infrastructure in developed economies like Europe and North American regions are out dated and need to be changed to modern ones . These economies are now modernizing their grids and replacing old installations. Huge investments in renewable resources like wind farms will also be a major factor to drive the market
“Asia-Pacific: The fastest-growing market for distribution boards”
The Stud projects the Asia-Pacific region to lead the distribution panels market due to the overall development in this region the urbanization and industrialization growth has been significant in this region which will have a good impact on the demand for Distribution Boards Market .China dominated the global distribution boards market in 2015, on account of extensive up-gradation of electrical infrastructure and installation of new transmission & distribution lines China and India are estimated to be the fastest-growing markets for distribution panel boards in the region from 2016 to 2021. The figure given below indicates the market size of various regions by 2021, with their respective CAGRs during the forecast period
Asia-Pacific is estimated to be the largest market for distribution boards, followed by North America and Europe. China accounted for the largest share in the Asia-Pacific distribution boards market in 2015, and is projected to grow at the highest CAGR from 2016 to 2021. This can be attributed to the rising number of smart grid initiatives, increasing investments in transmission & distribution infrastructural development, energy efficiency measures, increasing construction activities, and renewable projects in the country. Several countries in the Asia-Pacific region still do not have 100% access to electricity. Governments of countries such as India have taken various steps to increase the electrification rate, which would further drive the demand for distribution boards.

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Why buy this report?
The report identifies and addresses key markets for distribution boards, and is therefore useful for suppliers and OEMs for reviewing production and distribution plans
The report includes an analysis of key countries, by voltage rating of distribution boards (low voltage and medium voltage). It analyzes historical trends and provides a forecast for 2021, which would assist in strategic decision-making
It presents a competitive landscape of the distribution boards market by analyzing recent market developments such as contracts& agreements, expansions, mergers & acquisitions, and new product launches from key global market players. It helps to understand competitive strategies and plan respective initiatives.

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