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North America Distribution Panel Market Trends

Report ID: GMI8877
Published Date: Apr 2024
Report Format: PDF

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North America Distribution Panel Market Trends

The market is experiencing a shift towards smart and energy-efficient solutions, driven by increasing awareness of sustainability. In May 2023, Schneider Electric launched FlexSet, a groundbreaking low-voltage switchboard in Canada, marking a notable advancement in electrical distribution solutions. This innovative switchboard prioritizes customization, flexibility, and streamlined installation, catering to varied energy distribution needs across multiple sectors. Integration of IoT technologies and digitalization is enhancing monitoring and control capabilities. Demand for modular and customizable panels is rising, facilitating easier installation and scalability. Regulatory mandates for energy conservation and safety are influencing product developments, favoring innovations such as arc fault detection and remote management.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

North America distribution panel industry size was surpassed at USD 1.8 billion in 2023 and will grow at a 4.7% CAGR between 2024 and 2032, driven by region's robust construction and infrastructure development projects coupled with increasing adoption of smart grids and energy management systems.

Flush mounting distribution panel market will record more than 5% industry share by 2032, primarily due to the segment's sleek design, space-saving benefits, and aesthetic appeal for modern residential and commercial settings.

The medium voltage distribution panels will achieve USD 2.3 billion by 2032, propelled by region's extensive infrastructure development, increasing industrialization, and growing demand for reliable power distribution solutions.

Prominent companies including ABB, Ardea Technologies, ESL POWER SYSTEMS, INC., Eaton, General Electric, Hager Group, INDU-ELECTRIC North America, Inc., Legrand, Larsen & Toubro Limited, Meba Electric Co., Ltd, Schneider Electric, SDM METRO, Segue Manufacturing Services, Siemens, Spike Electric Controls are operating in the North America distribution panel industry.