Worldwide Distribution Board Industry to 2025 – Power Utilities Segment is Expected to Dominate the Market – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Distribution Board Market – Growth, Trends, and Forecasts (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
The distribution board market is expected to rise at a CAGR of more than 3% during the forecast period of 2020-2025.
- Siemens AG
- ABB Ltd.
- Eaton Corporation PLC
- Larsen & Toubro Limited
- Schneider Electric SE
- Legrand SA
- Havells India Ltd
- Alfanar Group
- Hager Group
Key Market Trends
Power Utilities Segment Expected to Dominate the Market
The distribution board refers to equipment which consists of bus bars, and possible switches, fuse-links and Automatic protective equipment, bypass equipment, for connecting, controlling and protecting several branch circuits fed from one main circuit of a wiring installation in a building or premises for easy and safe handling of incoming power supply.
- Most of the developed countries in the world already achieved 100% access to electricity long ago and now working on the up-gradation of its outdated transmission and distribution systems. In contemporary, the developing nations are witnessing rapid growth in the energy demand, which is likely to use distribution boards in new electricity distribution projects.
- In 2019, the global electricity generation was 27004.7 Terawatt-Hour (TWh), which was higher than what the world produced in 2018, 26652.7TWh. The increase in electricity generation exhibits an increase in the number of power utilities, which is likely to use new distribution boards to safely transfer electricity to the consumers without the failure of any electrical equipment.
- In January 2020, General Electric Company was awarded a multi-million dollar project for the design, supply, construction, and commissioning of onshore and offshore wind substations for the Neart na Gaoithe (NnG) offshore wind farm, in Scotland. EDF Renewables and ESB jointly own the project. GE is responsible for the delivery of all infrastructures within the perimeter, including ground works and civil construction. NnG is scheduled to be fully operational by the end of 2023. The substations in the project are likely to use the distribution board for safekeeping of the equipments.
Asia-Pacific Expected to Dominate the Market
Asia-Pacific, due to the rapidly increasing energy demand and an increasing number of commercial and industrial operations, the region is likely to be the largest market for the distribution board. Moreover, the continually growing demand for power supply in the country is expected to drive the region’s distribution board.
- Countries in the Asia-Pacific region such as China, India, and Indonesia because of rapidly increasing urbanization and industrialization in the countries are expanding their existing transmission and distribution system by laying new transmission lines and installing new substations to fill the energy demand-supply gap in their respective country. Such developments are likely to use several distribution boards at every end-user level.
- In 2019, the Asia-Pacific’s primary energy consumption was 257.56 Exajoules, which was about 44.1% of the world’s total primary energy. The region’s considerable share of energy demand is likely to create dominance over the region’s distribution board.
- In 2019, the power supply project for the China-Laos railway was inaugurated. The project is running along the China-Laos railway through five provincial administrative regions in northern Laos. It is likely to build twenty circuits of 115kV transmission lines with a total length of 268 km and extend 11 bays in 10 substations to supply power from the state-run Electricite du Laos’ grid to 10 railway traction substations. Such several planned substations are expected to install several distribution boards for the safety of the network and equipment in the project. The project is scheduled to be complete by the end of 2021.
- In 2019, Sterlite Power, India’s leading private power transmission player, received a letter of award for two key inter-state projects worth over INR 3000 crore for Udupi-Kasargode and WRSS 21 (Part B) involving lines and gas-insulated substations (GIS). The substation project is expected to use a distribution board to safely handle the electric equipments and network before transmitting it to the various end-users. This project involves 765 KV lines and GIS substations and is expected to be completed by the first quarter of 2021.
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.6 Supply Chain Analysis
4.7 Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1.1 Power Utilities
5.1.2 Commercial and Industrial
5.2.1 North America
5.2.4 South America
5.2.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
6.2 Strategies Adopted by Key Players
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/uyry4x
Laura Wood, Senior Press Manager
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