Residential Distribution Panel Global Market Report 2024

The residential distribution panel market size has grown strongly in recent years. It will grow from $1.11 billion in 2023 to $1.21 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth observed in the historic period can be attributed to several factors, including rising population and urbanization, government regulations and standards, increasing consumer awareness, and the growing emphasis on renewable energy sources.

The residential distribution panel market size is expected to see strong growth in the next few years. It will grow to $1.58 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The projected growth in the forecast period can be attributed to several factors, including the adoption of energy storage solutions, electrification trends, grid modernization initiatives, increased connectivity and integration with the Internet of Things (IoT), as well as concerns regarding resilience and reliability. Major trends expected in the forecast period include the development of smart and connected panels, energy management systems, incorporation of enhanced safety features, digitalization and IoT integration, and the introduction of user-friendly interfaces.

The anticipated growth in the residential distribution panel market is driven by increasing spending on infrastructure projects. Infrastructure spending encompasses investment in the development, maintenance, and improvement of physical and organizational structures such as roads, bridges, utilities, and public facilities. This rise in spending is motivated by various factors including the need to address aging infrastructure, promote economic growth, enhance public services, and adapt to evolving societal needs. Residential distribution panels play a crucial role in residential buildings by facilitating safe and efficient power distribution to meet modern household requirements. For example, according to data from the Office for National Statistics (ONS), government investment in infrastructure saw a significant 15.2% increase in 2022 compared to 2020, reaching $30.16 billion (£23.8 billion) in current prices. The total expenditure on infrastructure in 2021 amounted to $30.16 billion (£23.8 billion), with $21.93 billion (£17.3 billion) allocated by the central government and the remaining $8.24 billion (£6.5 billion) by local government. Hence, the upward trend in infrastructure spending is fueling the growth of the residential distribution panel market.

Key players in the residential distribution panel market are focusing on technological innovations such as power panel boards to enhance profitability. These distribution boards are responsible for controlling and distributing electrical power within buildings. For instance, in November 2023, ABB Ltd. introduced the Protecta power panel board, a product designed to ensure stable and reliable power distribution while enabling smart electrical distribution within various types of buildings. The Protecta power panel board serves as an electrical distribution system supporting flexible power distribution within facilities. It is engineered to ensure the safety and reliability of electrical circuits by providing a centralized point for managing and distributing power to different devices and equipment. The market for residential distribution panels has witnessed increasing demand for advanced safety features and flexibility in power management.

In January 2021, Schneider Electric acquired DC Systems B.V., a move aimed at enhancing its portfolio by developing DC Systems. This acquisition will enable Schneider Electric to offer customers greater simplicity and resilience across various applications, including building microgrids in areas with unreliable public grid infrastructure or supporting long-distance applications such as public lighting. DC Systems B.V. is a manufacturer of hybrid AC or DC electrical distribution panels for commercial and residential microgrids, based in the Netherlands.

Major companies operating in the residential distribution panel market are Siemens AG, General Electric Company, Mitsubishi Electric Corporation, ABB Ltd., Eaton Corporation plc, Larsen & Toubro Limited, Delta Electronics, Inc., Legrand SA, Alfanar Electrical Systems, Schneider Electric SE, Havells India Limited, Leviton Manufacturing Co. Inc., NHP Electrical Engineering Products Pty Ltd, AGS Transact Technologies Limited, Industrial Electric Manufacturing, Hager SE, Paneltronics Inc., Abunayyan Holding, Norelco Cabinets Ltd., ESL Power Systems, Inc., Meba Electric Co. Ltd, Symbiotic Systems Pvt Ltd, CSE Solutions Pvt. Ltd., Cutler-Hammer, Litton Systems.

Asia-Pacific was the largest region in the residential distribution panel market in 2023. The regions covered in the residential distribution panel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the residential distribution panel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A residential distribution panel plays a critical role in both residential and commercial electrical systems, serving as a central hub for distributing electrical power to various circuits within the building. It ensures the safe operation of electrical equipment by dividing the power feed into secondary circuits, each protected by fuses or circuit breakers.

Residential distribution panels are classified based on their main voltage types, including ≤ 250 volts, > 250 volts to ≤ 750 volts, and > 750 volts. The ≤ 250 Volts category refers to panels designed to handle electrical circuits with voltages of 250 volts or less, ensuring compatibility and safety for typical household electrical appliances and devices. Mounting types are categorized as flush mounting and surface mounting, catering to end users such as residential, commercial, industrial, and utility settings.

The residential distribution panel research report is one of a series of new reports that provides residential distribution panel market statistics, including the residential distribution panel industry's global market size, regional shares, competitors with an residential distribution panel market share, detailed residential distribution panel market segments, market trends and opportunities, and any further data you may need to thrive in the residential distribution panel industry. This residential distribution panel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The residential distribution panel market consists of sales of main breaker load centers, main lug load centers, circuit breakers, subpanels, surge protection devices, bus bars, and grounding bars. Values in this market are ‘factory gate’ values, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.