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North America Distribution Panel Market Size

Report ID: GMI8877
Published Date: Apr 2024
Report Format: PDF

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North America Distribution Panel Market

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.

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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.

North America Distribution Panel Market Report Attributes
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 2024 to 2032 CAGR:	4.7%
2032 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:	Rising infrastructural spending Expansion of smart grid networks
Pitfalls & Challenges:	Slow-paced technological evolution across developing regions

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Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

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.