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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Lighting And Distribution Panel Board Market
Request Now !Lighting and electric panel is a device that consist fuses or circuit breakers, which is used to protect the circuits and also used for switching or controlling lights and lighting circuits. The lighting and distribution panel boards are considered as backbone of the electrical distribution system. They offer complete flexibility for handling circuits and retain stability of the electrical load on various phases. It provides broad design capability to installers to fix a greater number of breakers in limited space available, offering lighting and appliance branch circuit protection for sequence phased connection.
The lighting and distribution panel board market is expected to witness growth from 2019 to 2026 due to increase in need for reliable and energy-efficient power distribution infrastructure across various industry verticals. The ongoing trend of upgradation of various advanced technologies in commercial and industrial infrastructures such as automation, robotics, and others has made lighting and distribution panel boards ideal solution for contractors, owing to their efficient ratings to meet the industry standards, less power consumption, and cost-effectiveness. For instances, Eaton Corporation, company based in Ireland, developed the product called “retrofit Lighting and Distribution panel boards” for existing electrical infrastructure to reduce wall repair costs and use already available box, bus bars, and enclosures. Such benefits at a competitive cost forces the key manufacturers to develop products that provide high priority to minimize delay time of critical operations and ensure safety and reliability.
Factors such as increase in government financial initiatives toward electrification rate, rise in need for energy-efficient power distribution infrastructure at both transmission and distribution levels drive the lighting and distribution panel board market growth. However, high cost and lack of standardization restrain the market growth. Furthermore, emergence of advanced technologies and incorporation of smart features such as integrated hardware and software application, enabling users to identify overloads and improve operational efficiency are expected to provide lucrative opportunities for the growth of the lighting and distribution panel board market.
The lighting and distribution panel board market share is segmented into type, device, application, and region. Based on type, the market is bifurcated into lighting and distribution. Based on devices, it is divided into box, bus bars, enclosure, and others. By application, the market is categorized into residential, commercial, energy, healthcare, and utilities. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the lighting and distribution panel board industry include Eaton Corporation Plc, Schneider Electric SE, Siemens AG, General Electric Company, Legrand, Industrial Electric Mfg, Emerson Electric Co., Hubbell Incorporated, Bay Power Inc. and Hager Ltd. These players adopt collaboration, partnership, and agreement as their key developmental strategies to increase revenue of the lighting and distribution panel board market and develop new products for enhancing product portfolio.
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