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North America Flush Mounted Distribution Panel Market Size
- Report ID: GMI11517
- Published Date: Sep 2024
- Report Format: PDF
North America Flush Mounted Distribution Panel Market Size
North America flush mounted distribution panel market size was valued USD 882.7 million in 2023 and is projected to grow at a CAGR of 5.2% from 2024 to 2032. This growth is driven by soaring demand for energy-efficient electrical systems and infrastructure expansion across various sectors.
Also, urbanization and the push for electrification, particularly in the U.S. and Canada, are driving the need for advanced power distribution solutions. Technological advancements, including smart panel integration and IoT-enabled systems, are enhancing the functionality of these panels, supporting their adoption in modern buildings.
Moreover, regulatory frameworks promoting energy efficiency and safety also support market expansion. For instance, in September 2024, U.S. Department of Energy has announced USD 388 million in funding for research and development aimed at decarbonizing buildings under the Buildings Energy Efficiency Frontiers & Innovation Technologies (BENEFIT) initiative. This investment will support innovative technologies to reduce emissions, enhance energy efficiency, and advance climate resilience in buildings across the country.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| North America Flush Mounted Distribution Panel Market Size in 2023: | USD 882.7 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 5.2% |
| 2032 Value Projection: | USD 1.4 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 70 |
| Tables, Charts & Figures: | 10 |
| Segments covered: | Voltage, End Use |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
North America Flush Mounted Distribution Panel Market Scope
