April 04, 2022 06:45 ET | Source: ReportLinker ReportLinker

New York, April 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Distribution Board Global Market Report 2022" - https://www.reportlinker.com/p06248536/?utm_source=GNW The global distribution board market is expected to grow from $5.19 billion in 2021 to $6.03 billion in 2022 at a compound annual growth rate (CAGR) of 16.3%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $8.72 billion in 2026 at a CAGR of 9.7%. The distribution board market consists of sales of distribution boards by entities (organizations, sole traders, and partnerships) that manufacture low voltage and medium voltage distribution boards. A distribution board (also known as a panel board, breaker panel, or electric panel) is a part of an electric distribution network that splits an electrical power flow into separate channels while supplying every circuit with a protective fuse or circuit breaker in a single frame. The main voltage types in distribution boards are low voltage and medium voltage.The low voltage distribution board is a component of the electrical power distribution network that transports electricity from the distribution transformer to the consumer’s energy meter. The different types of mounting include flush mounting, surface mounting and are implemented in various sectors such as transmission and distribution utilities, manufacturing and process industries, commercial and residential infrastructure, other end users. Asia Pacific was the largest region in the distribution board market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The increasing electricity demand is expected to fuel the growth of the distribution board market in the coming years.Electricity is a form of energy that can be transmitted through wires and is used for heating, lighting, and machine power. As a result of increased household incomes, electrification of transportation and heat, and increasing demand for digitally connected devices and air conditioning, electricity demand is expected to rise even further.The electrical power is supplied within the building through a distribution board (DB). The primary supply cable enters the board and is dispersed to the breakers, which subsequently distribute it to all of the circuits. According to the World Energy Outlook, global electricity demand is expected to increase at 2.1% per year until 2040, double the rate of primary energy growth. Smart panel board is a key trend shaping the distribution board market.Smart panel boards detect and communicate switchgear health statistics and energy usage and share the data over several network protocols. Smart panel boards can save operating costs, improve safety, and anticipate future incidents. For instance, in October 2020, SMART Panelboards created with new concept enclosure design, which has been tested and is constructed following the regulations. In March 2021, Siemens, a Germany-based industrial manufacturing company acquired C&S Electric for $284.03 million (INR 21 billion). With this acquisition, Siemens seeks to get access to the Indian market and establish an export hub for delivering low-voltage goods to worldwide markets. Siemens also believes that the acquisition will pave the way for the establishment of a design and manufacturing center in India, allowing the business to export electrification solutions to emerging markets across the world. C&S Electric is an India-based manufacturer of electrical and electronic equipment including switchgear, power protection, and distribution board. The countries covered in the distribution board market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. Read the full report: https://www.reportlinker.com/p06248536/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________