According to the report released by markets and markets, the world's second-largest market research institution, the global distribution board market demand will reach US $4.33 billion in 2016. With the rapid development of power infrastructure to cope with the growing power demand, it is expected that this data will exceed US $5.9 billion by 2021, with an annual compound growth rate of 6.4%.
Transmission and distribution enterprises are the largest users
According to the monitoring data in 2015, power transmission and distribution enterprises are the largest end users of distribution boards, and this trend is expected to remain until 2021. Substation is the key component of each power grid system, which needs high standard and strict protection to ensure the stable market of the system. The distribution board is the key component for the transmission and distribution enterprises to protect important equipment from damage. With the increasing power demand and the improvement of power coverage around the world, the construction of substation will be accelerated, so as to promote the stable growth of distribution board demand.
High potential of medium voltage distribution board
The report pointed out that the market demand trend of distribution board began to change from low voltage to medium voltage. In the past few years, medium voltage distribution boards have been widely popularized. With the rapid growth of renewable energy power stations and the rapid development of matched transmission and distribution infrastructure, the medium voltage distribution board market will usher in the fastest demand growth by 2021.
Asia Pacific region has the largest demand
The report believes that the Asia Pacific region will become the regional market with the largest demand, followed by North America and Europe. The accelerated development of smart grid and the upgrading of transmission and distribution infrastructure are the main reasons for the stable growth of demand in North America and Europe. In addition, demand growth in emerging markets such as the Middle East & Africa and South America will also be considerable in the next five years.
In terms of enterprises, ABB group, Siemens, general electric, Schneider Electric and Eaton group will become the world's leading distribution board suppliers. In the future, these enterprises will increase their investment in developing countries and emerging markets to strive for greater market share.
Post time: Oct-22-2016