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Asia Pacific Medium Voltage Distribution Panel Market Trends

Report ID: GMI9453
Published Date: May 2024
Report Format: PDF

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Asia Pacific Medium Voltage Distribution Panel Market Trends

In the Asia Pacific region, several trends are shaping the medium voltage distribution panel market. Additionally, advancements in digitalization and smart grid technologies are fostering the deployment of intelligent distribution panels capable of real-time monitoring and control. In May 2022, Japan initiated a substantial funding program totalling USD 155 billion. This initiative targets investments directed towards advancing and fortifying intelligent power grid infrastructure. By leveraging cutting-edge technology, the program focuses on enhancing grid reliability, thus catalysing market expansion within the sector. Furthermore, government initiatives promoting energy efficiency and sustainability are accelerating the replacement of outdated infrastructure with modern, more efficient distribution panels, thereby propelling market growth.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

Asia Pacific medium voltage distribution panel market size reached a revenue of USD 2.5 billion in 2023 and is projected to expand at 5.7% CAGR during 2024- 2032 driven by the growing electricity demand on account of rapid urbanization and industrialization.

Asia Pacific surface-mounted medium voltage distribution panel market will exceed USD 2 billion by 2032, attributed to its benefits, such as ease of installation and space-saving design.

China medium voltage distribution panel market is forecasted to exceed USD 1.8 billion by the year 2032, driven by rapid urbanization and industrialization.

Akey Electro Techniques, ABB, alfanar Group, Dynamic Control Systems, Eaton, General Electric, Hager Group, Legrand AV Inc., Larsen & Toubro Limited, Nextgen power controls, Power Tech India, and Symbiotic Systems among others.