Energy and Power Distribution Boards Market | Page 2

Leading companies in the distribution panels market are focusing on contracts & agreements,
mergers & acquisitions, new product launches, and expansions to broaden their product portfolio.
Contracts & agreements and new product launches were the most widely adopted growth strategies
in the market from 2012 to 2016. Industry players that adopted this strategy include ABB Ltd.
(Switzerland), General Electric (U.S.), Schneider Electric SE (France), Eaton C orporation Plc (Ireland),
and Siemens AG (Switzerland).
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The need to protect electrical devices and network components is expected to drive the demand
for power distribution boards during the forecast period. Electricity access is increasing in
countries across the world, with the emerging economies of regions such as Asia -Pacific and
Africa receiving foreign investments to develop their electricity infrastructure. Most developing
countries have started shifting from an agrarian economy to the industrial and service sectors,
thereby increasing the rate of urbanization.
Despite increasing urbanization across the globe, households in several countries still lack
electricity access and face frequent power outages. Governments ensure that most households
have access to electricity by upgrading the existing power distribution infrastructure and setting
up new substations to meet the growing electricity demand. These factors are expected to drive
the market for distribution panels.
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The distribution boards market is primarily driven by the growing need to protect electrical
networks and components, increasing transmission & distribution activities, power genera tion
capacity additions, growth in the manufacturing and process industries, and rising commercial
and residential construction activities.
Asia-Pacific is estimated to be the fastest-growing market for power distribution boards, followed
by the Middle East & Africa and North America. This growth can be attributed to increased
investments in the T&D infrastructure, construction and infrastructural activities, and the
electrification network in the recent past. China accounted for the largest share in the As ia-Pacific
region in 2015, and is projected to grow at the highest CAGR from 2016 to 2021.
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