Distribution Board Global Market Report 2024

The distribution board market size has grown strongly in recent years. It will grow from $6.54 billion in 2023 to $7.08 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth observed in the historic period can be attributed to factors such as urbanization and infrastructure growth, electrification programs, industrialization trends, a focus on safety and regulatory compliance, patterns in energy consumption, as well as market competition and innovation.

The distribution board market size is expected to see strong growth in the next few years. It will grow to $9.9 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The anticipated growth in the forecast period can be attributed to factors such as upgrades to electrical grids, the evolution of building standards, the adoption of sustainable and eco-friendly solutions, the expansion of the global market, and changes in customer needs. Major trends expected in this period include the prevalence of digitalization and smart infrastructure, ongoing technological advancements, an increasing demand for renewable energy, the incorporation of modular and compact designs, and a rise in industrial automation.

The distribution board market is anticipated to experience significant growth in the upcoming years, driven by the escalating demand for electricity. Electricity, a versatile form of energy transmitted through wires, serves various purposes such as heating, lighting, and powering machines. The surge in household incomes, the electrification of transportation and heating, and the growing need for digitally connected devices and air conditioning are contributing factors expected to further elevate the demand for electricity. Distribution boards (DBs) play a pivotal role in supplying electrical power within buildings. The primary supply cable enters the distribution board and is then distributed to breakers, which, in turn, channel it to all the circuits within the structure. According to the World Energy Outlook, global electricity demand is projected to increase at a rate of 2.1% per year until 2040. This growth rate is twice that of the primary energy distribution, underscoring the substantial role that distribution boards will play in meeting the escalating global demand for electricity.

The distribution board market is expected to witness significant growth in the coming years, driven by increasing investments in 5G technology and telecom infrastructure. 5G, the fifth generation of wireless communication technology, represents the latest and most advanced development in this field. Telecom infrastructure, comprising both physical and virtual components, forms the backbone of the telecommunications network, facilitating the transmission of voice, data, and multimedia over long distances. The deployment of 5G networks necessitates a robust and reliable power distribution system, with distribution boards serving as a centralized point for managing and distributing electrical power to various components within the telecom infrastructure. For example, as of January 2023, according to a report by the National Association of Insurance Commissioners, a U.S.-based standard-setting and regulatory support organization, there was a projected increase in the number of connected devices entering IoT (Internet of Things) platforms. The value of these platforms was expected to grow from $10.3 billion in 2019 to $13.3 billion in 2025. The proliferation of these technologies led to a sharp rise in the number of connected devices in 2021, and projections indicated that this number would reach 500 million by the end of 2022. Consequently, the surge in investments in 5G technology and telecom infrastructure is a key factor driving the growth of the distribution board market.

The distribution board market is witnessing a notable trend driven by the development of innovative software tools. These tools play a crucial role in aiding engineers in the design process of printed circuit boards (PCBs). The software facilitates the creation of PCB blueprints, enabling engineers to modify design processes, retrieve outdated designs from PCB libraries, and validate circuit schematic designs. As an illustration, in January 2022, Altair, a U.S.-based company specializing in computational engineering and intelligence, introduced a special edition of Altair PollEx. This software tool falls under the category of electronic system design (ESD) and is specifically tailored for Altium users. Altair PollEx aims to empower PCB designers by providing tools to forecast, optimize, and confirm the manufacturing feasibility of PCB performance. Altair PollEx for Altium represents a free version of PollEx designed to support various electrical computer-aided designs (ECAD). It seamlessly integrates board-level simulation and design verification features, making them easily accessible to Altium Designer users. This highlights the ongoing trend of leveraging innovative software tools to enhance the efficiency and capabilities of PCB design in the distribution board market.

Companies in the distributed board market are innovating and introducing new products to maintain their market position. One such product is a board connector system, designed to electrically and mechanically join printed circuit boards (PCBs). As an example, in June 2022, MetraAV, a US-based manufacturer of commercial and residential integration products, unveiled the Big Dog Power Smart Power Distribution Unit (PDU) to address technical challenges. This product comes with distinctive features, including remote control, integration with smart home systems, surge protection, and rack temperature control, among other functionalities.

In March 2021, Siemens, a Germany-based industrial manufacturing company, completed the acquisition of C&S Electric for $284.03 million (₹21 billion). Through this strategic move, Siemens aims to gain access to the Indian market and establish an export hub for supplying low-voltage goods to global markets. Siemens envisions that the acquisition will not only facilitate market presence but also lay the groundwork for the establishment of a design and manufacturing center in India. This center is expected to enable Siemens to export electrification solutions to emerging markets worldwide. C&S Electric, the acquired company, is based in India and specializes in the manufacturing of electrical and electronic equipment, including switchgear, power protection, and distribution boards.

Major companies operating in the distribution board market report are Siemens AG, General Electric Company, Schneider Electric SE, Fujitsu General Limited, Asea Brown Boveri Ltd., Larsen & Toubro Limited, Eaton Corporation plc, Delta Electronics Inc., Legrand, Meba Electric Enterprises Co. Ltd., Rittal GmbH & Co. KG, Havells India Ltd., Hager Group, C&S Electric Limited, Sterlite Power Transmission Ltd., Lewden Palazzoli Ltd., OEZ s.r.o., Industrial Electric Manufacturing, Delixi Electric Co. Ltd., Electroalfa Group, Arabian Gulf Switchgear Ltd., East Coast Power Systems, Blakley Electrics, Kohler Power Systems, ESL Power Systems Inc., Lovato Electric S.p.A., Norelco Industries Inc., Ba’amer Electric, Eastern Arabian Maintenance and Fabrication Company, INDU-Electric Gerber GmbH, Shihlin Electric & Engineering Corporation, Mennekes Elektrotechnik GmbH & Co. KG.

Asia-Pacific was the largest region in the distribution board market in 2023. The regions covered in the distribution board market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the distribution board market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Distribution boards are primarily categorized into low voltage and medium voltage types. Low-voltage networks, also known as secondary networks, play a crucial role in electric power distribution by carrying electricity from distribution transformers to end-user electricity meters. Mounting options for distribution boards include flush mounting and surface mounting, with applications spanning transmission and distribution utilities, manufacturing and process industries, commercial and residential infrastructure, among other sectors.

The distribution board market research report is one of a series of new reports that provides distribution board market statistics, including distribution board industry global market size, regional shares, competitors with a distribution board market share, detailed distribution board market segments, market trends and opportunities, and any further data you may need to thrive in the distribution board industry. This distribution board market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The distribution board market consists of sales of low voltage distribution boards, medium voltage distribution boards, and other distribution boards. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.