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Asia Pacific Distribution Panel Market Trends

Report ID: GMI8920
Published Date: Apr 2024
Report Format: PDF

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Asia Pacific Distribution Panel Market Trends

The Asia Pacific distribution panel industry is witnessing significant growth on account of Sustainable development in various areas, including infrastructure projects, and renewable energy integration along with ongoing urbanization, industrialization across the region. This expansion is driving the demand for reliable electrical distribution systems, encouraging the adoption of distribution panels across residential, commercial, and industrial applications.

Additionally, the growing investments across smart grid technologies will boost the market growth. For instance, in May 2022, Japan launched a comprehensive funding initiative. This program, amounting to USD 155 billion, aims to promote investments specifically in the development and enhancement of intelligent power grid infrastructure by improving grid reliability through cutting-edge technology, which in turn will fuel the market growth.

Authors: Ankit Gupta

Frequently Asked Questions (FAQ) :

Asia Pacific distribution panel market size was USD 3.1 billion in 2023 and is expected to register 5.9% CAGR from 2024-2032 owing to increase in construction activities, infrastructure development, and expansion of commercial and industrial sectors in the region.

Asia Pacific distribution panel market from the medium voltage segment is expected to exceed USD 4 billion by 2032 due to increasing industrialization, urbanization, and infrastructure development along with rising demands for reliable and efficient electricity distribution.

China distribution panel industry is expected to cross USD 2.3 billion by 2032 due to increasing demand for smart buildings, alongside urban redevelopment, and energy efficiency initiatives, driving the adoption of distribution panels in the country.

Eaton, Hager Group, Larsen & Toubro Limited, Legrand AV Inc., Nextgen power controls, Power Tech India, Schneider Electric, Siemens, Symbiotic Systems, TERASAKI ELECTRIC CO. (FE) PTE LTD, and Zhejiang Zhegui Electric Co., Ltd., are some of the major distribution panel companies in Asia Pacific.