North America Medium Voltage Distribution Panel Market - By Mounting (Flush Mounting, Surface Mounting), By End Use (Residential, Commercial, Industrial, Utility) & Forecast, 2024 – 2032

North America Medium Voltage Distribution Panel Market

North America Medium Voltage Distribution Panel Market attained a worth of USD 1.4 billion in 2023 and is forecasted to grow at a CAGR of 4.4% between 2023 and 2032, propelled by increasing urbanization, industrialization, and infrastructural development projects, driving the demand for efficient and reliable electrical distribution systems. Ongoing advancements in the distribution panel units will further propel the market statistics.
 

For instance, May 2023 witnessed the introduction of FlexSet by Schneider Electric in Canada, representing a significant leap forward in electrical distribution solutions. Additionally, advancements in technology, such as digitalization and smart grid integration, are enhancing the efficiency and functionality of medium voltage distribution panels. Moreover, stringent regulations aimed at improving energy efficiency and grid reliability further bolster market growth in the region.
 

North America Medium Voltage Distribution Panel Market Trends

North America medium voltage distribution panel industry is witnessing steady growth driven by increasing demand for reliable and efficient power distribution systems across various industries such as manufacturing, commercial, and residential sectors. Factors such as urbanization, industrialization, and infrastructure development initiatives contribute to the market expansion.
 

Moreover, advancements in smart grid technology and a growing focus on renewable energy integration are further propelling market growth. REN21 reported that in 2022, the United States allocated more than USD 49 billion towards renewable energy investments, representing a significant surge from the USD 29 billion invested in 2013. Key players are innovating to offer technologically advanced solutions, enhancing reliability, safety, and energy efficiency in distribution networks.
 

North America Medium Voltage Distribution Panel Market Analysis

Based on mounting, the market is segmented into surface and flush mounting. Surface mounted distribution panel hold a substantial share in the North America market and is projected to reach over USD 1 billion by 2032. This trend is driven by several factors, including the increasing adoption of surface mounting configurations for their ease of installation, space-saving benefits, and aesthetic appeal. Additionally, advancements in surface mounting technology, such as improved durability and enhanced safety features, are further contributing to market expansion. As industries and infrastructure projects seek efficient power distribution solutions, surface-mounted medium voltage distribution panels emerge as a preferred choice, fuelling their rising demand in the region.
 

Commercial sector-based distribution panel market across North America is anticipated to grow at a substantial rate of over 4.5% through 2032. This expansion is propelled by the increasing demand for reliable and efficient power distribution solutions in commercial establishments such as office buildings, shopping malls, and hotels. With a focus on enhancing energy efficiency and ensuring uninterrupted power supply, businesses are investing in advanced medium voltage distribution panels to meet their evolving electrical infrastructure needs. Additionally, stringent regulations and sustainability initiatives are driving the adoption of energy-efficient technologies, further boosting market growth in the commercial segment.

 

U.S. medium voltage distribution panel market is projected to grow over USD 1.5 billion by 2032, driven by rapid urbanization, industrialization, and infrastructure development, there's an increased demand for distribution panels across commercial, and industrial sectors in the U.S. Additionally, technological advancements in electrical distribution systems, such as smart grid integration and renewable energy utilization, further propel market growth. According to the Business Council for Sustainable Energy, renewable energy adoption soared in 2023, reaching record levels, satisfying 8.8% of total energy demand and fulfilling 23% of electricity needs. Moreover, stringent regulations emphasizing energy efficiency and safety standards foster innovation and adoption of advanced panel solutions.
 

The medium voltage distribution panel market in Canada is experiencing robust growth driven by factors such as increasing urbanization, industrialization, and infrastructure development projects. Additionally, advancements in electrical distribution technology and a growing emphasis on energy efficiency and sustainability are fuelling market expansion, creating opportunities for innovative solutions to meet evolving demands across various sectors.
 

North America Medium Voltage Distribution Panel Market Share

ABB commands a significant market share in North America's medium voltage distribution panel sector. Renowned for its innovative solutions, ABB offers a wide range of panels tailored to diverse industrial and commercial needs. Leveraging advanced technologies and a robust distribution network, ABB has established itself as a preferred choice, trusted for reliability, efficiency, and adherence to stringent safety standards in the region's electrical infrastructure landscape.
 

North America Medium Voltage Distribution Panel Market Companies

Some of the key market players operating across the market are:

• ABB
• alfanar Group
• ESL POWER SYSTEMS, INC.
• Eaton
• General Electric
• Hager Group
• INDUSTRIAL ELECTRIC MFG
• Legrand
• Larsen & Toubro Limited
• Meba Electric Co., Ltd
• R. STAHL AG
• Raycap
• Schneider Electric
• SDM METRO
• Segue Manufacturing Services
• Siemens
• Spike Electric Controls
   

North America Medium Voltage Distribution Panel Industry News:

• In November 2023, ABB unveiled the Protecta Power Panel Board, elevating its electrical distribution offerings. This new panel board seamlessly integrates safety and efficiency features, catering to a wide array of industrial and commercial needs. With its sturdy design and advanced features such as improved protection and simplified installation, the Protecta Power Panel Board underscores ABB's dedication to providing dependable and cutting-edge solutions for the market.
   
• In May 2023, Schneider Electric launched FlexSet, a pioneering low-voltage switchboard in Canada, assessing a substantial advancement in electrical distribution solutions. This innovative switchboard emphasizes customization, flexibility, and simplified installation to meet diverse energy distribution needs across sectors. With its modular design and advanced features, FlexSet reflects Schneider Electric's commitment to providing tailored solutions for the Canadian market.
   

North America 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 2019 to 2032, for the following segments:

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 Market, By Mounting

• Flush mounting
• Surface mounting

Market, By End Use

• Commercial
• Industrial
• Utility

The above information has been provided for the following countries:

• U.S.
• Canada