North America Distribution Panel Market
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North America Distribution Panel Market size was accessed at USD 1.8 billion in 2023 and is anticipated to grow at a CAGR of 4.7% by 2032, driven by factors including rapid urbanization and industrialization which in turn drive demand for upgraded infrastructure.
Increasing investments in renewable energy sources necessitate modernized distribution systems. According to REN21, the United States invested over USD 49 billion in renewable energy in 2022, marking a substantial increase from the USD 29 billion invested in 2013. The growing adoption of smart technologies enhances efficiency and reliability. Additionally, stringent regulations regarding energy efficiency and safety standards stimulate market growth. Moreover, the rising demand for advanced power distribution solutions in commercial and residential sectors further accelerates market expansion.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| North America Distribution Panel Market size in 2023: | USD 1.8 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 4.7 |
| 2023 Value Projection: | USD 2.8 Billion |
| Historical Data for: | 2019 to 2023 |
| No of Pages: | 160 |
| Tables, Charts & Figures: | 165 |
| Segments Covered: | Voltage, Mounting, End Use |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The market is experiencing a shift towards smart and energy-efficient solutions, driven by increasing awareness of sustainability. In May 2023, Schneider Electric launched FlexSet, a groundbreaking low-voltage switchboard in Canada, marking a notable advancement in electrical distribution solutions. This innovative switchboard prioritizes customization, flexibility, and streamlined installation, catering to varied energy distribution needs across multiple sectors. Integration of IoT technologies and digitalization is enhancing monitoring and control capabilities. Demand for modular and customizable panels is rising, facilitating easier installation and scalability. Regulatory mandates for energy conservation and safety are influencing product developments, favoring innovations such as arc fault detection and remote management.
Based on voltage, the market is segmented in medium and low voltages. Medium voltage distribution panels hold a substantial share in the North America market and is projected to grow over USD 2.3 billion by 2032. Factors including increasing urbanization, industrialization, and infrastructural development have propelled the demand for medium voltage distribution panels across the region.
Additionally, technological advancements in electrical distribution systems, coupled with growing emphasis on energy efficiency and sustainability, have further boosted market expansion. Moreover, Smart grid technologies and renewable energy integration initiatives are fueling growth in the medium voltage distribution panel market in North America.
Flush mounting distribution panel market across North America is anticipated to grow at a substantial rate of over 5% by 2032. Flush mounting, known for its space-saving design and seamless integration, is driving demand across residential, commercial, and industrial sectors. This trend is fueled by the increasing emphasis on aesthetics and space optimization in building designs.
Moreover, advancements in flush-mounted panel technology, including enhanced safety features and compatibility with smart home systems, are further propelling market expansion. As a result, flush-mounted distribution panels are witnessing widespread adoption and contributing significantly to the overall growth of the market in North America.
U.S. distribution panel market is projected to grow over USD 2.2 billion by 2032, driven by factors including rapid urbanization, industrialization, and infrastructure development, which contribute to increased demand for distribution panels across residential, commercial, and industrial sectors. Additionally, technological advancements in electrical distribution systems, including the integration of smart grid technologies and renewable energy sources, further stimulate market growth. As per the Business Council for Sustainable Energy, Renewable energy utilization in 2023 in the U.S. reached record levels, accounting for 8.8% of the total energy demand and meeting 23% of the electricity demand. Moreover, stringent regulations emphasizing energy efficiency and safety standards drive innovation and adoption of advanced panel solutions.
ABB maintains a significant share in the North American distribution panel market due to its robust product offerings, technological innovations, and established presence. Its comprehensive range of distribution panels caters to diverse industry needs, consolidating ABB's position as a key player in the region.
Some of the key market players operating across the North America distribution panel industry are:
Market, By Voltage (USD Million)
Market, By Mounting (USD Million)
Market, By End Use (USD Million)
The above information has been provided for the following countries:
North America distribution panel industry size was surpassed at USD 1.8 billion in 2023 and will grow at a 4.7% CAGR between 2024 and 2032, driven by region's robust construction and infrastructure development projects coupled with increasing adoption of smart grids and energy management systems.
Flush mounting distribution panel market will record more than 5% industry share by 2032, primarily due to the segment's sleek design, space-saving benefits, and aesthetic appeal for modern residential and commercial settings.
The medium voltage distribution panels will achieve USD 2.3 billion by 2032, propelled by region's extensive infrastructure development, increasing industrialization, and growing demand for reliable power distribution solutions.
Prominent companies including ABB, Ardea Technologies, ESL POWER SYSTEMS, INC., Eaton, General Electric, Hager Group, INDU-ELECTRIC North America, Inc., Legrand, Larsen & Toubro Limited, Meba Electric Co., Ltd, Schneider Electric, SDM METRO, Segue Manufacturing Services, Siemens, Spike Electric Controls are operating in the North America distribution panel industry.