Flush Mounted Low Voltage Distribution Panel Market
Flush Mounted Low Voltage Distribution Panel Market Forecasts to 2030 - Global Analysis By Panel Type (Modular Panels, Customized Panels and Hybrid Panels), Installation Type (Wall-Mounted, Ceiling-Mounted and Embedded), Enclosure Material, Rated Current, Protection Device, End User and By Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $834.8 MN |
|
Projected Year Value (2030) |
US $1384.7 MN |
|
CAGR (2024-2030) |
8.8% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Flush Mounted Low Voltage Distribution Panel Market is accounted for $834.8 million in 2024 and is expected to reach $1,384.7 million by 2030, growing at a CAGR of 8.8% during the forecast period. An electrical device used to distribute low voltage electricity is a flush-mounted low voltage distribution panel. They are easily integrated into walls, offering a space-saving method of controlling electrical circuits while guaranteeing accessibility and safety. These panels provide effective power distribution and electrical fault protection by housing breakers, fuses, and control devices. They are necessary to keep electrical systems organized and to make it easier to integrate contemporary technologies.
According to the International Energy Agency (IEA), global electricity demand is projected to grow by 2.1% per year on average between 2022 and 2024.
Market Dynamics:
Driver:
Growing demand for electrical infrastructure
As urbanization accelerates and industries expand, there's an increasing need for reliable power distribution systems. These panels play a crucial role in efficiently managing and distributing electricity in residential, commercial, and industrial settings. The rise in construction activities, coupled with the modernization of existing buildings, fuels the demand for flush-mounted panels that offer space-saving solutions without compromising on performance. Additionally, government initiatives to improve electrification in developing regions further boost market growth, as these panels are essential components in establishing robust electrical networks.
Restraint:
Complex installation process
The complex installation process of flush mounted low voltage distribution panels poses a significant restraint to market growth. These panels require precise fitting into walls or other surfaces, necessitating skilled technicians and often specialized tools. The installation complexity increases in retrofit projects where existing structures may need modifications to accommodate the panels. This complexity can lead to higher installation costs and longer project timelines, potentially deterring some customers, especially in cost-sensitive markets. These factors can limit the adoption rate, particularly in smaller projects or in regions with a shortage of skilled electricians.
Opportunity:
Transition toward smart grids
Power systems are evolving to become more intelligent and interconnected, and there's a growing demand for distribution panels that can integrate with smart grid technologies. These advanced panels can incorporate features like real-time monitoring, remote control capabilities, and enhanced energy management systems. The ability to seamlessly connect with renewable energy sources and support bi-directional power flow aligns perfectly with smart grid objectives. This transition opens up new avenues for product innovation, allowing manufacturers to develop panels with IoT connectivity, advanced metering capabilities, and improved load management features, thereby enhancing their market position.
Threat:
Dependence on raw material prices
The production of flush mounted low voltage distribution panels heavily relies on materials such as metals, plastics, and electronic components, whose prices can be volatile. Fluctuations in global commodity markets, influenced by factors like geopolitical tensions, supply chain disruptions, or economic shifts, can directly impact manufacturing costs. This volatility can squeeze profit margins for manufacturers if they're unable to pass on increased costs to customers. Additionally, the need to maintain competitive pricing in a price-sensitive market may lead to compromises in quality or features.
Covid-19 Impact:
The COVID-19 pandemic initially disrupted the flush mounted low voltage distribution panel market, causing supply chain interruptions and project delays. However, as industries adapted, there was a surge in demand for reliable electrical infrastructure in healthcare facilities and data centers. The pandemic accelerated the adoption of smart home technologies and remote monitoring systems, indirectly boosting the market for advanced distribution panels. Long-term impacts include increased focus on energy efficiency and resilient power systems, benefiting the market's recovery and growth.
The metal segment is expected to be the largest during the forecast period
Over the forecasted timeframe, the metal segment is anticipated to dominate the market share. Metal panels are preferred for their durability, fire resistance, and ability to withstand harsh environmental conditions. They offer superior protection for electrical components and are often required in industrial and commercial applications where safety standards are stringent. The segment's dominance is further reinforced by its longevity and recyclability, aligning with growing sustainability concerns. As industries expand and upgrade their electrical systems, the demand for robust metal panels continues to rise.
The surge protection devices (SPDs) segment is expected to have the highest CAGR during the forecast period
During the projection period, the surge protection devices (SPDs) segment is expected to grow at the highest CAGR in the flush-mounted low-voltage distribution panel market. This rapid growth is driven by the increasing awareness of electrical safety and the rising need to protect sensitive electronic equipment from power surges and lightning strikes. As businesses and households invest more in expensive electronic devices and smart systems, the demand for reliable surge protection integrated into distribution panels intensifies. The growth is further fueled by stringent safety regulations and insurance requirements in many regions. Technological advancements in SPDs, offering better protection and longer lifespans, are also contributing to their increased adoption.
Region with largest share:
During the estimation period, the North America region is expected to capture the largest market share. This dominance is attributed to several factors, including the region's advanced electrical infrastructure, stringent safety regulations, and high adoption rates of smart building technologies. The ongoing modernization of aging electrical systems in the United States and Canada drives the demand for advanced distribution panels. The region's focus on energy efficiency and the integration of renewable energy sources further boosts market growth. Additionally, the region's robust construction industry, particularly in commercial and industrial sectors, ensures a steady demand for flush mounted low voltage distribution panels, solidifying its market leadership.
Region with highest CAGR:
The Asia Pacific region is projected to achieve the highest CAGR during the forecast period. This rapid growth is driven by several factors, including rapid urbanization, industrialization, and significant investments in infrastructure development across countries like China, India, and Southeast Asian nations. The region's booming construction sector, particularly in smart cities and industrial parks, fuels the demand for advanced electrical distribution systems. Government initiatives to improve electrification and promote energy efficiency are also catalyzing market growth. The increasing adoption of renewable energy sources and the subsequent need for compatible distribution systems further accelerate the market expansion.
Key players in the market
Some of the key players in Flush Mounted Low Voltage Distribution Panel Market include Siemens AG, Schneider Electric SE, ABB Ltd., Eaton Corporation, Legrand SA, General Electric Company, Hager Group, Mitsubishi Electric Corporation, Larsen & Toubro Limited, Havells India Ltd., Fuji Electric Co., Ltd., Rockwell Automation, Inc., Chint Group, Panasonic Corporation, Rittal GmbH & Co. KG, Vertiv Group Corp., Socomec Group, and Littelfuse, Inc.
Key Developments:
In June 2024, Mitsubishi Electric Corporation developed the 84kV dry air insulated switchgear as an environmentally friendly alternative to SF6 gas insulated switchgear. The switchgear uses a vacuum interrupter (VI) to interrupt current and dry air insulation instead of SF6 gas.
In April 2023, Siemens AG Launched new SIVACON S4 low-voltage switchboard with enhanced safety features and compact design for flush mounting applications.
In March 2023, Legrand SA launched the XL3 S flush-mounted enclosures for low-voltage distribution up to 4000A. These enclosures are designed to meet the needs of various power distribution requirements, offering a compact and efficient solution for installations.
Panel Types Covered:
• Modular Panels
• Customized Panels
• Hybrid Panels
Installation Types Covered:
• Wall-Mounted
• Ceiling-Mounted
• Embedded
Enclosure Materials Covered:
• Metal
• Plastic
• Fiberglass
• Composite
Rated Currents Covered:
• Up to 100A
• 101A to 200A
• 201A to 300A
• 301A and above
Protection Devices Covered:
• Circuit Breakers
• Fuses
• Residual Current Devices (RCDs)
• Surge Protection Devices (SPDs)
End Users Covered:
• Residential
• Commercial
• Industrial
• Utility
• Infrastructure
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Flush Mounted Low Voltage Distribution Panel Market, By Panel Type
5.1 Introduction
5.2 Modular Panels
5.3 Customized Panels
5.4 Hybrid Panels
6 Global Flush Mounted Low Voltage Distribution Panel Market, By Installation Type
6.1 Introduction
6.2 Wall-Mounted
6.3 Ceiling-Mounted
6.4 Embedded
7 Global Flush Mounted Low Voltage Distribution Panel Market, By Enclosure Material
7.1 Introduction
7.2 Metal
7.3 Plastic
7.4 Fiberglass
7.5 Composite
8 Global Flush Mounted Low Voltage Distribution Panel Market, By Rated Current
8.1 Introduction
8.2 Up to 100A
8.3 101A to 200A
8.4 201A to 300A
8.5 301A and above
9 Global Flush Mounted Low Voltage Distribution Panel Market, By Protection Device
9.1 Introduction
9.2 Circuit Breakers
9.3 Fuses
9.4 Residual Current Devices (RCDs)
9.5 Surge Protection Devices (SPDs)
10 Global Flush Mounted Low Voltage Distribution Panel Market, By End User
10.1 Introduction
10.2 Residential
10.3 Commercial
10.4 Industrial
10.5 Utility
10.6 Infrastructure
11 Global Flush Mounted Low Voltage Distribution Panel Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Siemens AG
13.2 Schneider Electric SE
13.3 ABB Ltd.
13.4 Eaton Corporation
13.5 Legrand SA
13.6 General Electric Company (GE)
13.7 Hager Group
13.8 Mitsubishi Electric Corporation
13.9 Larsen & Toubro Limited (L&T)
13.10 Havells India Ltd.
13.11 Fuji Electric Co., Ltd.
13.12 Rockwell Automation, Inc.
13.13 Chint Group
13.14 Panasonic Corporation
13.15 Rittal GmbH & Co. KG
13.16 Vertiv Group Corp.
13.17 Socomec Group
13.18 Littelfuse, Inc.
List of Tables
1 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Region (2022-2030) ($MN)
2 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Panel Type (2022-2030) ($MN)
3 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Modular Panels (2022-2030) ($MN)
4 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Customized Panels (2022-2030) ($MN)
5 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Hybrid Panels (2022-2030) ($MN)
6 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Installation Type (2022-2030) ($MN)
7 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Wall-Mounted (2022-2030) ($MN)
8 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Ceiling-Mounted (2022-2030) ($MN)
9 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Embedded (2022-2030) ($MN)
10 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Enclosure Material (2022-2030) ($MN)
11 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Metal (2022-2030) ($MN)
12 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Plastic (2022-2030) ($MN)
13 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Fiberglass (2022-2030) ($MN)
14 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Composite (2022-2030) ($MN)
15 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Rated Current (2022-2030) ($MN)
16 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Up to 100A (2022-2030) ($MN)
17 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By 101A to 200A (2022-2030) ($MN)
18 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By 201A to 300A (2022-2030) ($MN)
19 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By 301A and above (2022-2030) ($MN)
20 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Protection Device (2022-2030) ($MN)
21 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Circuit Breakers (2022-2030) ($MN)
22 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Fuses (2022-2030) ($MN)
23 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Residual Current Devices (RCDs) (2022-2030) ($MN)
24 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Surge Protection Devices (SPDs) (2022-2030) ($MN)
25 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By End User (2022-2030) ($MN)
26 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Residential (2022-2030) ($MN)
27 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Commercial (2022-2030) ($MN)
28 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Industrial (2022-2030) ($MN)
29 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Utility (2022-2030) ($MN)
30 Global Flush Mounted Low Voltage Distribution Panel Market Outlook, By Infrastructure (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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