Distribution Boards Market Strategy with Growth Analysis till 2021

The distribution boards market is projected to grow from an estimated USD 4.33 Billion in 2016 to USD 5.91 Billion by 2021, registering a CAGR of 6.4% from 2016 to 2021. Factors such as growing investments in transmission & distribution infrastructure and increasing construction and infrastructural activities are driving the global market for distribution boards.

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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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.

Leading companies in the distribution panels market are focusing on contracts & agreements, mergers & acquisitions, new product launches, and expansions to broaden their product portfolio. Contracts & agreements and new product launches were the most widely adopted growth strategies in the market from 2012 to 2016. Industry players that adopted this strategy include ABB Ltd. (Switzerland), General Electric (U.S.), Schneider Electric SE (France), Eaton Corporation Plc (Ireland), and Siemens AG (Switzerland).

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The need to protect electrical devices and network components is expected to drive the demand for power distribution boards during the forecast period. Electricity access is increasing in countries across the world, with the emerging economies of regions such as Asia-Pacific and Africa receiving foreign investments to develop their electricity infrastructure. Most developing countries have started shifting from an agrarian economy to the industrial and service sectors, thereby increasing the rate of urbanization.

Despite increasing urbanization across the globe, households in several countries still lack electricity access and face frequent power outages. Governments ensure that most households have access to electricity by upgrading the existing power distribution infrastructure and setting up new substations to meet the growing electricity demand. These factors are expected to drive the market for distribution panels.

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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.

Asia-Pacific is estimated to be the fastest-growing market for power distribution boards, followed by the Middle East & Africa and North America. This growth can be attributed to increased investments in the T&D infrastructure, construction and infrastructural activities, and the electrification network in the recent past. China accounted for the largest share in the Asia-Pacific region in 2015, and is projected to grow at the highest CAGR from 2016 to 2021.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues