Oct 17, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Distribution Panel Market.

It was estimated before this unanticipated outbreak that the Distribution Panel Market estimated to grow at a decent CAGR of 6.0% during the forecast period. Major factors such as the expansion of smart grids, increasing urbanization, and increasing focus on safety from operational hazards are driving the growth of the market. In addition, the development of smart distribution panels, rapid infrastructure development, and the growing construction industry are further expected to bolster the demand for distribution panels over the forecast period.

Market Dynamics

A distribution panel is a component of an electrical supply system that distributes electrical power into subsidiary circuits while also providing each circuit with a protective fuse or circuit breaker in a common enclosure. The distribution panel is important as it protects one from accidents such as short circuits.

The outbreak of the COVID-19 pandemic shook the electronics industry to the core. As a result, restrictive containment measures such as social distancing, remote working, and the closure of commercial activities exacerbated the situation, affecting the industry's supply chain, including the demand for distribution panels in 2020.  

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Segment Analysis

Based on the voltage type, the market is bifurcated into low and medium voltage. The medium voltage segment is expected to grow at a higher CAGR during the forecast period. Increasing investments in transmission & distribution infrastructure, renewable power plants, and increasing commercial and residential construction and infrastructural activities are likely to support the segment's growth over the forecast period.

Based on the mounting type, the market is segmented as flush mounting and surface mounting. Flush mounting is expected to witness higher growth during the forecast period. Major factors such as easy installation, high reliability, and compact size are expected to drive the growth of flush mounting during the forecast period. In addition, increasing infrastructural spending, rising electricity demand across emerging economies, and increasing development of commercial spaces are further expected to contribute to the growth of the segment in the coming years.  

Based on the end-user type, the market is segmented as residential, commercial, industrial, and utility. Among these end-user types, the residential segment is expected to lead the market, owing to the increasing demand for residential construction, as well as the growing population and rapid urbanization. Furthermore, rising disposable income, government initiatives to electrify rural areas, and growing investments toward the replacement of aging power distribution infrastructure will boost the demand for distribution panels over the forecast period.

In terms of regions, Asia-Pacific dominated the distribution panel market in 2021 and is expected to maintain its incontestable lead during the forecast period. Increasing demand for electricity, a growing construction industry, and stringent policies toward the replacement of aging distribution equipment are the key drivers of the regional market demand for distribution panels. Furthermore, rising electrification rates, rapid urbanization, and industrialization are likely to drive the demand for distribution panels over the forecast period.

Key Players:

The key players in the market are:

• ABB

• Abunayyan Holding

• Alfanar Group

• Eaton Corporation PLC

• General Electric

• Hager Group

• Industrial Electric Mfg.

• Larsen & Toubro Limited

• Legrand

• NHP

• Schneider Electric

• Siemens

Features of the Report

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Distribution Panel analysis report discusses the following heads in great detail:

• Overview, industry life cycle analysis, supply chain analysis

• COVID-19 Impact Assessment

• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis

• Market trend and forecast analysis

• Market segment trend and forecast

• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.

• Attractive market segments and associated growth opportunities

• Emerging trends

• Strategic growth opportunities for the existing and new players

• Key success factors