Global Electric Switchboard Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Electric Switchboard Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Electric switchboards are used to safely distribute electricity throughout commercial and industrial facilities. A switchboard is a component of an electrical distribution system that divides an electrical power feed into branch circuits while providing a protective circuit breaker or fuse for each circuit in a common enclosure.

Market Overview:

The latest research study on the global Electric Switchboard market finds that the global Electric Switchboard market reached a value of USD 3711.82 million in 2022. It’s expected that the market will achieve USD 4843.94 million by 2028, exhibiting a CAGR of 4.54% during the forecast period.

Increased competition

The competition among vendors will increase during the forecast period. Vendors will compete to deliver competitive advantages in the market on the basis of pricing, user-friendly interfaces, value-added benefits, and service portfolios. During the forecast period, we expect this competition to intensify with an increase in product extensions.

Continuous innovation

Technological innovations have an important role in driving the growth of the market. To sustain in the competitive market, vendors should develop new ideas and technologies and stay up-to-date with the advanced technologies.

Intellectualization

Electric Switchboard is developing towards intelligence. These smart switchboards are pre-configured and pre-programmed with the ability to integrally support remote monitoring, configuration and control of embedded intelligent devices. These devices can be connected to computers and smart devices to monitor electricity usage and help in the optimum utilization of energy and reduce maintenance costs.

Region Overview:

North America had the highest growth rate of all regions

Company Overview:

Schneider Electric is one of the major players operating in the Electric Switchboard market, holding a share of 19.14% in 2020.

Schneider Electric

Schneider Electric is a European multinational company providing energy and automation digital solutions for efficiency and sustainability. It addresses homes, buildings, data centers, infrastructure and industries, by combining energy technologies, real-time automation, software and services.

ABB(GE)

ABB is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels.

Segmentation Overview:

As for product types, the Low-voltage segment held the largest market share in 2021.

Low-voltage

Up to 1000V

Middle-voltage

1000V to 35kV

High-voltage

35kV to 230 kV

Application Overview:

The market's largest segment by application is the segment Industrial, with a market share of 34.67% in 2021.

Key Companies in the global Electric Switchboard market covered in Chapter 3:

CUBIC
ROMAC Supply
Schneider Electric
East Coast Power Systems
Eaton
Nilsen
Powerwell
Emerson
Siemens
Rolla
ABB(GE)
Kounis Metal Industries

In Chapter 4 and Chapter 14.2, on the basis of types, the Electric Switchboard market from 2018 to 2029 is primarily split into:

Low-voltage
Middle-voltage
High-voltage

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Electric Switchboard market from 2018 to 2029 covers:

Industrial
Residential
Commercial
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)