What’s Next for The Distribution Boards Market?

Power Distribution Boards

A distribution board is a key component of an electrical supply system that divides an electrical power feed into subsidiary circuits while providing a protective fuse or circuit breaker for each circuit in a common enclosure. Distribution boards are commonly used on temporary electrical installations.

Growth

Market research suggests that by 2021 the distribution boards market will be worth close to 6 billion USD. The increasing investments into transmission and distribution infrastructure and into renewable power plants is expected to provide a major boost to the market. Research also suggests that the medium voltage distribution boards market is also expected to grow at its highest CAGR during the next few years.

Demand

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 increase in access to electricity across the globe has led to an increase in substations, which in turn is has increased the demand for distribution boards.

The rise of the Asian-Pacific Market

It is predicted that the Asia-Pacific region will dominate the market in the years to come, due to factors such as urbanisation, industrialisation, effective smart grid initiatives, large investments in the upgrade of transmission and distribution infrastructure and renewable projects. Major international events such as the capture of the Winter Olympics in South Korea have also contributed to forecasted market growth.

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