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Distribution Panel Market Size by Voltage (Low Voltage, Medium Voltage), By Mounting (Flush Mounting, Surface Mounting), By End Use (Residential, Commercial {College/University, Office, Government/Military}, Industrial {Power Generation, Chemical, Refinery, Cement}, Utility), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: GMI2392
  • Published Date: Apr 2021
  • Report Format: PDF

Industry Trends

Distribution Panel market size exceeded USD 5 billion in 2020 and is set to register over 6% CAGR between 2021 and 2027. A distribution panel (also called breaker panel, electric panel or panelboard) is a component of a power supply system which divides an electrical supply feed into subsidiary circuits, by providing a circuit breaker or protective fuse for every circuit in common enclosure. Rising expansion of smart grid networks along with upgradation of existing power networks will augment the business scenario.

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Distribution panel industry is set to witness substantial growth on account of growing consumer inclination associated with electrical supply faults, fire, health, and other operational hazards. Growing requirements for refurbishment of existing electric infrastructure along with increasing investments across smart grid networks will complement the business potential. Moreover, end consumer tendencies toward the adoption of products to safeguard the living environment in line with the life expectancy of electric infrastructure will favor the business outlook.

Robust development of residential and commercial establishments will drive the low voltage rated distribution panel market demand

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Low voltage segment of distribution panel market is estimated to surpass USD 1.5 billion by 2027. Rapid development of low-voltage distribution infrastructures across residential & commercial establishments has positively influenced the demand for low-voltage distribution panels. Furthermore, growing demand for low-voltage control systems with smart features in line with favorable power supply reforms will further accelerate the business growth. For instance, in 2020, NHP launched its AS/NZS 61439 compliant smart panel boards featuring fast cable connections and earth leakage device test system.

Ongoing commercialization and industrialization will propel the demand for compact size and easy to install distribution panels

Flush mounted distribution panel market is set to witness over 6% CAGR through 2027. The product integrates key advantages including easy installation, high reliability and compact structure providing better space utilization which inclines the customers toward the adoption of these products. In terms of safety features and appearances, these panels are considered more safer over its available counterparts. Government efforts to deploy advanced and reliable power equipment to provide effective power supply will further drive the industry landscape.

Demand for these units across the commercial sector is anticipated to grow on account of increasing infrastructural spending along with rising electricity demand across the developing regions. Robust developments of office spaces, educational institutions, and public buildings will fuel the product demand. Moreover, rapid digitalization across the industrial periphery has significantly infused a competitive business scenario owing to the surging energy demand from data centers & communication base stations.

Flourishing residential sector will stimulate the demand for distribution panels

Residential distribution panel market is estimated to exceed USD 1.4 Billion by 2027. Ongoing government measures to electrify rural areas coupled with growing investments toward the replacement of aging power distribution infrastructure will energize the industry dynamic. For instance, as per the World Bank, electricity access across the global rural population has increased from 65% in 2000 to over 82% in 2018. Growing urbanization along with government initiative to introduce micro-grid programs will further propel the business scenario.

The electricity consumption primarily across the developing economies has witnessed a steep proliferation over a decade subject to the rising energy demand primarily from residential & commercial users. Increasing peak load demand along with expansion of T&D networks have further initiated a favorable business landscape. Paradigm shift toward the upgradation and development of conventional grid infrastructure adhered to the rapid adoption of smart distribution technologies will substantially escalate the product demand.

Distribution panel market will grow on account of increasing funding toward the rural electrification

Increasing deployment of energy efficient supply systems for better power output will upsurge the distribution panel industry size. Various energy performance standard and rating labels are introduced by the regulators to effectively control & monitor the energy consumption will in turn accelerate the business demand. Growing investments from financial institutions including Regional Development Banks, Asian Development Bank and International Finance Corporation toward electrification will further fuel the industry potential.

Surging inclination toward IT integration across the power sector will considerably foster the smart grid deployment, positively influencing the distribution panel industry forecasts. Growing investments from public and private funded institutions along with regulatory policies that cater to the rapid development of smart grid networks will boost the product adoption. Moreover, positive consumer focus toward safe & secure electricity supply will positively sway the business outlook.

The novel corona virus (COVID-19) outbreak represents an unprecedented disturbance in the world trade and global economy as production & consumption are scaled back globally. The virus was first recognized in China’s Hubei province in November 2019 and since has become a worldwide health threat. According to the World Health Organization, corona virus has impacted 140 countries resulting in severe national and international lockdowns. However, respective government measures to resume the operations across major industries, manufacturing facilities and infrastructure projects will complement the industry trends.

North America distribution panel market anticipated to witness significant growth owing to expansion of T&D networks

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Asia Pacific and North America region hold the majority share of over 60% in 2020. Growing investments across the real estate sector and commercial facilities will positively impact the business landscape. Government mandate toward the adoption of energy-efficient electrical equipment along with the expansion of transmission & distribution networks will complement the industry outlook. According to the EIA, power consumption in the U.S. is set to increase by 2.1% in 2021 after recording a decline of 3.8% in 2020. Rising electricity demand owing to enhanced construction activities along with stringent policies toward replacement of existing distribution equipment will further drive the regional market demand.

U.S. distribution panel market is anticipated to witness upsurge owing to escalating growth in the consumption pattern of electricity and growing regulatory focus towards the integration of micro grid technologies. Increasing infrastructural investments along with flourishing commercial sector is set to complement the business landscape.

Product innovation and partnerships will act as a crucial point for market participants

Eminent companies are focusing on technological advancements along with partnerships and acquisitions to meet the predominant competition in the industry. The industry manufacturers laying importance on economies of scale and forward integration for nourishing quality standards. Major participants in the distribution panel market includes Legrand, Eaton, Schneider Electric, Siemens, ABB, General Electric, Larsen & Toubro, NHP, Industrial Electric, ESL POWER SYSTEMS, Hager Group, AGS, Abunayyan Holding, Hawa, Meba Electric, Norelco, Ba’amer Electric and EAMFCO.

Distribution panel market research report includes in-depth coverage of the industry with estimates & forecast in terms of USD from 2017 to 2027, for the following segments:

By Voltage

  • Low Voltage
  • Medium Voltage

By Mounting

  • Flush Mounting
  • Surface Mounting

By End Use

  • Residential
  • Commercial
    • College/University
    • Office
    • Government/Military
    • Others
  • Industrial
    • Power Generation
    • Chemical
    • Refinery
    • Cement
    • Others
  • Utility

The above information has been provided for the following regions and country:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • France
    • Germany
    • Russia
    • Italy
    • Austria
    • Spain
    • Netherlands
    • Denmark
    • Sweden
  • Asia Pacific
    • China
    • Australia
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
    • Singapore
    • Thailand
    • New Zealand
    • Philippines
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Kuwait
    • Oman
    • Turkey
    • South Africa
    • Nigeria
    • Algeria
    • Egypt
    • Iraq
    • Israel
  • Latin America
    • Brazil
    • Argentina
    • Mexico
Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The global market for distribution panels had surpassed USD 5 billion in 2020 and could witness around 6% CAGR up to 2027.
The industry share from the low voltage segment is anticipated to hit USD 1.5 billion in value by 2027 with increased deployment in both, commercial and residential areas.
The distribution panel market share from flush mounted segment is projected to register more than 6% CAGR through 2027 with benefits like ease of installation, compactness and high reliability.
With higher investments in developing commercial and real estate projects, Asia Pacific and North America regions held over 60% share of global distribution panel industry in 2020.

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 19
  • Tables & Figures: 629
  • Countries covered: 36
  • Pages: 350
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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