PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1342671
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1342671
According to SPER Market Research, 'Middle East Distribution Panel Market Size-By Voltage, By Mounting, By End Use- Regional Outlook, Competitive Strategies and Segment Forecast to 2033' state that the Middle East Distribution Panel Market is predicted to reach CAGR of 6.54%.
An essential component of electrical systems that distribute and manage energy within a home or enterprise is a distribution panel, commonly referred to as a board of distribution or an electrical panel. It acts as a central node for transferring electrical power from a central source, like the utility grid or a generator, to various circuits everywhere throughout the building. Circuit breakers and fuses are widely used in the panel as protection mechanisms to stop overloads and short circuits in the electrical wiring and appliances.
The COVID-19 outbreak had a significant impact on the Middle East distribution panel market. As the virus spread throughout the region, governments imposed stringent lockdowns and travel restrictions to minimize its spread, causing economic activities and construction projects to be disrupted. Many infrastructural and industrial projects have been pushed back or canceled, putting a strain on demand for distribution panels. Construction, a major user of distribution panels, has slowed, leading in lower sales and revenues for panel makers and suppliers.