Flush Mounted Medium Voltage Distribution Panel Market Size - By End Use (Commercial, Industrial, Utility) & Forecast, 2024 - 2032

Flush Mounted Medium Voltage Distribution Panel Market Size

The global flush mounted medium voltage distribution panel market size was accessed at USD 2.7 billion in 2023 and is anticipated to grow at a CAGR of 5.7% by 2032. The market growth is propelled by growing investments in modernizing electrical infrastructure and the heightened need for effective power distribution systems. 
 

Besides, the global agenda to shift towards renewable energy sources requires secure and durable solutions for power distribution, thereby creating more demand. As stated by the International Energy Agency (IEA), investment in the wind and solar technologies reached USD446 billion globally during 2021, shows substantial growth post the climate change treaty signed in Paris during 2015. This growth tends to be associated with favourable shifts in the market.
 

The flush mounted MV distribution panel market is also anticipated to grow due to modernization and industrialization increases because these two phenomena require strong electrical systems for serving growing urban and industrial regions. The use of more advanced technologies such as IoT and smart grids also helps in the enhancement of market growth as they aid in the efficient regulation and control of power distribution.
 

Flush Mounted Medium Voltage Distribution Panel Market Trends

The market is witnessing several key trends. One of the prominent trends is the use of digital technologies and Internet of Things which is also improving the effectiveness of the distribution panels. Furthermore, the rise of smart cities together with industrial automation is driving the use of advanced and intelligent distribution systems.
 

In 2022, Japan set up a fund estimated at USD 155 billion with the aim of investing in new power grid technologies and energy saving measures, paying special attention to smart grids and interconnectivity with the smart cities. This initiative is set to have a positive impact on the flush-mounted medium voltage distribution panel market. Market forces demanding better energy efficiency and safety compliance are leading to changes and improvements by the manufacturers.
 

Flush Mounted Medium Voltage Distribution Panel Market Analysis

The market is projected to surpass USD 4.3 billion by 2032. This expansion will be fuelled by increased smart grid technology investments and renewable energy development across the globe. In North America, adoption of EVs and expansion of old infrastructure will create more demand. Stringent regulations set by the government regarding energy efficiency and sustainability is driving growth in Europe. Rapid industrialization and urbanization in China and India will greatly contribute to growth within the Asia-Pacific region. At the same time, the Middle East and Africa will experience growth through the ongoing infrastructure development and electrification processes in developing world.
 

Flush mounted medium voltage distribution panel market in the commercial segment is expected to achieve a compound annual growth rate (CAGR) exceeding 6% through 2032. This progress is attributed to MV distribution panels characteristics including superficial elegance, safe functional design for commercial facilities, and practicality.
 

These panels are designed with the intention of incorporation into the building structures, which aids in achieving an orderly look of the entire building, while at the same time maximizing space availability. Furthermore, these panels serve the purpose of strengthening the reliability and continuity of commercial operations since they have in-built protective designs that guard against risky electrical operations. All of these factors aid in the increased acceptance and adoption of these designs in most commercial designs and structures in order to meet the increased energy distribution and management requirements of modern industries.
 

The flush mounted medium voltage distribution panel market in the Asia-Pacific region has tremendous growth potential and is expected to reach more than USD 2 billion in revenues by 2032. This growth can be credited to the high levels of urbanization and industrialization which require reliable power distribution.
 

Furthermore, the efforts made to improve electricity access in rural areas are other remarkable contributors to the growth of this market. According to the International Energy Agency (IEA) India’s electricity access covered increased coverage from 43% in 2000 to 100% in 2022. The region is also advancing in digital monitoring and controls and is very focused on energy efficiency which further accelerates progress in the region.
 

The U.S. market for flush mounted medium voltage distribution panels is projected to market witness rapid growth due to increased usage of power distribution mediums due to demand by different sectors. Some of the key contributors of this growth are infrastructure development, higher allocations for renewable energy and more smart grid technologies. Other factors contributing include focus on energy efficiency and sustainability which are positively impacting the advanced distribution panel market in the U.S.

Flush Mounted Medium Voltage Distribution Panel Market Share

ABB holds a considerable portion of the market of flush mounted medium voltage distribution panels. This is because of their more sophisticated solutions, which address the increased market demand for efficient and reliable power distribution. The integration of recent technologies alongside the commitment to energy efficiency and sustainability by ABB also affirms their supremacy within the extremely competitive region of the market.
 

Flush Mounted Medium Voltage Distribution Panel Market Companies

Some of the key market players operating across the flush mounted medium voltage distribution panel industry are:

• ABB
• Eaton
• EAMFCO
• ESL POWER SYSTEMS, INC.
• Gem Switchgear
• General Electric
• GEWISS
• Hager Group
• Legrand
• Meba Electric Co., Ltd
• NHP
• Norelco
• Schneider Electric
• Siemens
   

Flush Mounted Medium Voltage Distribution Panel Industry News:

• ABB has inaugurated a new energy efficient factory in Evergem, Belgium that cost USD 22 million in May 2024. This facility was created specially to address the growing need for smart building components, and it includes state-of-the-art energy optimization technologies, such as a photovoltaic plant expected to reduce energy expenditures by over 9400 MWh per year. This is in line with ABB’s Mission to Zero, which aims to decrease CO2e emissions by over 6700 tons per year. Indeed, the factory showcases ABB’s commitment to providing sustainable innovative solutions in electrification.
   

Flush mounted medium voltage distribution panel market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 to 2032, for the following segments:

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Market, By End Use

• Commercial
• Industrial
• Utility

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • France
  • Germany
  • Russia
  • Italy
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Egypt
• Latin America
  • Brazil
  • Argentina
  • Mexico