Middle East Distribution Panel Market Analysis, Forecasts & Trends 2019-2024
Category: #business  By Rahul Sankrityayan  Date: 2020-01-16
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Middle East Distribution Panel Market Analysis, Forecasts & Trends 2019-2024

The growing demand for panel boards across the telecom & power generation sectors will act as a major driving force for Middle East distribution panel market. Being vital components of a power supply system, these boards provide a protective circuit breaker for every circuit enclosed in the service panel enclosure, from where the utility power is distributed to different branch circuits.

Powered by the rising need to reduce electricity wastage and optimize power consumption, in conjunction with the enforcement of renewable energy norms, Middle East distribution panel market is likely to chart out a lucrative growth graph ahead.

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The recent trend of switching over to renewable energy sources such as solar and wind energy has also prompted companies to innovate a variety of distribution panels designed to be adaptable for myriad applications for electricity generation via sustainable resources.

Prominent companies partaking in Middle East distribution panel industry share are also concentrating on developing unique technologies to be incorporated in distribution panels for them to be utilized in solar panels and eco-friendly electric devices, thus contributing to the revenue generation of this regional market. Middle East distribution panel market size to have registered a revenue of USD 250 million in 2017.

The dire need to fulfill the ever-growing demands of electricity across countries such as the United Arab Emirates, Oman, Saudi Arabia, Kuwait, and Qatar will positively influence Middle East distribution panel industry growth. It should be remembered however that this market is strictly defined by a regulatory framework. For instance, the Qatar General Electricity & Water Corporation (KAHRAMAA) has declared that any work pertaining to electrical installation needs to be carried out only by licensed contractors.

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The United Arab Emirates has experienced an onslaught of construction projects in the recent years. Merely a few weeks ago, the UAE government held talks with China State Construction Engineering Corporation Middle East (CSCEC ME) in order to collaborate on infrastructure projects. That said, the region is also experiencing an increase in the per capita income of the population.

Driven by increasing disposable incomes, added affordability, the shifting trends toward renewable sources coupled with the demand for uninterrupted power supply, Middle East distribution panel market is likely to accumulate commendable proceeds from the UAE. Indeed, as per estimates, Middle East distribution panel industry share from the UAE is anticipated to register a CAGR of 5% over 2018-2024, powered by the rising adoption of sustainable electric products and the development of an advanced grid network across the region.

Aided by the efforts put in by regional companies toward augmenting the demand for distribution panels through the development of a range of varied boards suitable for many applications, Middle East distribution panel industry is likely to carve out a positive growth graph in the ensuing years. As per reliable estimates, Middle East distribution panel market size is forecast to cross USD 440 million by 2024.

Chapter 4. Middle East Distribution Panel Market, By Voltage

4.1. Middle East distribution panel market share by voltage, 2017 & 2024

4.2. Low voltage

4.2.1.   Market estimates and forecast, 2013-2024

4.3. Medium voltage

4.3.1.   Market estimates and forecast, 2013-2024

Chapter 5. Middle East Distribution Panel Market, By Product

5.1. Middle East distribution panel market share by product, 2017 & 2024

5.2. Flush mount

5.2.1.   Market estimates and forecast, 2013-2024

5.3. Surface mount

5.3.1.   Market estimates and forecast, 2013-2024

Partial Table of Contents (ToC) of the report: http://decresearch.com/toc/detail/middle-east-distribution-panel-market

 

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About Author

Rahul Sankrityayan

Rahul Sankrityayan    

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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