Medium Voltage Distribution Panel Market Size - By Mounting (Flush Mounting, Surface Mounting), By End Use (Commercial, Industrial, Utility) & Forecast, 2023 - 2032

Medium Voltage Distribution Panel Market Size - By Mounting (Flush Mounting, Surface Mounting), By End Use (Commercial, Industrial, Utility) & Forecast, 2023 - 2032

Medium Voltage Distribution Panel Market size is poised to depict 5.5% CAGR from 2023-2032, due to the rising need to support the distribution of power generated from renewable sources, including solar and wind.

In response to the higher obligation for more flexible and space-efficient solutions, leading manufacturers are developing medium voltage distribution panels with modular and compact designs for ensuring easier installation, maintenance, and scalability. To quote an instance, in September 2023, ABB unveiled the 500 mm panel version for its latest air-insulated medium voltage switchgear UniGear ZS1 technology to deliver higher sustainability targets. The growing emphasis on replacing and retrofitting existing panels with advanced and efficient technologies will also outline the market growth.

The medium voltage distribution panel industry is segmented into mounting, end use, and region.

The market size from the flush mounting segment is anticipated to foresee exponential growth between 2023 and 2032. Flush-mounting medium voltage distribution panels offer enhanced security measures by limiting exposed edges and corners, further offering reduced risk of tampering and unauthorized access to electrical components. The ease of installation at convenient and strategic locations on the wall without protruding into walkways and workspaces will also boost the segment expansion.

Medium voltage distribution panel industry share from the industrial end use segment will witness commendable expansion between 2023 and 2032. The growth can be ascribed to the increasing criticality to limit overloads and optimize the use of electrical resources. Medium voltage distribution panels help in managing and balancing electrical loads within industrial facilities. In manufacturing facilities, these panels provide power to several production processes whilst ensuring that machinery and equipment receive the necessary electrical supply for operating efficiently.

Based on region, the North America medium voltage distribution panel market size is projected to hit an appreciable CAGR through 2032 owing to the rising number of energy efficiency initiatives. With the increasing focus on renewable energy sources, the trend of integrating medium voltage distribution panels in systems supporting the distribution of power generated from renewable sources is substantially growing in the region. The aging infrastructure along with the rising industrialization and commercial activities will also outline the regional industry growth.