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This Is The Best Things About Distribution Boards Market With Forecast To 2021

By Author: Akshay
Total Articles: 133

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 the global distribution boards market.
To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the electric distribution boards market including ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric (U.S.), Schneider Electric SE (France), and Eaton Corporation (Ireland). These players are trying to penetrate developing economies and are adopting various methods to increase their market share.
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Transmission & distribution utilities the key end-user of distribution boards
Distribution boards primarily find application in transmission & distribution utilities. In 2015, transmission & distribution utilities constituted the largest segment of the distribution boards market, and accounted for the largest share of the total market. Substations are a crucial element of any grid system, and require high-level protection to ensure the stability of the system. Distribution boards are used extensively by utilities to prevent damages to expensive and critical equipment. The increasing electricity access across the world would result in an increase in the number of substations, which would in turn, raise the demand for distribution boards.
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Growing inclination towards medium voltage distribution boards
The report also segments the distribution boards market on the basis of rated voltage into low voltage and medium voltage. Medium voltage distribution boards have received widespread acceptance in the past few years. The increasing investments in transmission & distribution infrastructure and in renewable power plants will likely provide a major boost to the market. The medium voltage distribution boards market is expected to grow at the highest CAGR during the forecast period.
The distribution boards market is primarily driven by the growing need to protect electrical networks and components, increasing transmission & distribution activities, power generation capacity additions, growth in the manufacturing and process industries, and rising commercial and residential construction activities.
To speak to our analyst for a discussion on the above findings, click https://www.marketsandmarkets.com/speaktoanalyst.asp?id=10103490
Asia-Pacific to dominate the market for distribution boards
In this report, the electric distribution boards market has been analyzed with respect to five regions namely, Asia-Pacific, North America, Europe, South America, and the Middle East & Africa. Asia-Pacific is estimated to dominate the market, owing to factors such as urbanization, industrialization, effective smart grid initiatives, high investments in the upgradation of transmission & distribution infrastructure, energy efficiency measures, and renewable projects.
For More Information do Visit to Blog: https://energyandpowerdotblog.wordpress.com
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