Fresh Perspectives on the Global Electrical Enclosure Market to Get Your Business Strategy Ready
The global market for Electrical Enclosure is projected to reach US$8.1 billion by 2025, driven by the massive quantities of electricity produced and consumed worldwide, and the ensuing focus on safe electricity use and consumption.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Electrical Enclosure market. Report segmentation includes End-Use Industry (Power Generation & Distribution, Oil & Gas, Metals & Mining, Other End-Use Industries); Material (Metallic, Non-Metallic); Mounting Type (Wall Mounted, Floor Mounted, Underground) ).
21 June 2:25 A.M., California/Marketwire/ - According to the new market research report, the global market for Electrical Enclosure is projected to reach US$8.1 billion by 2025, driven by the massive quantities of electricity produced and consumed worldwide, and the ensuing focus on safe electricity use and consumption. Other major factors driving growth in the market include ubiquity of power electronics; implementation of strict electrical safety regulations; continuous technology innovation in materials; upgrades of power and energy infrastructure; projected increase in renewable energy generation amidst rising environmental awareness and shift towards non-fossil fuel sources; frequent upgrades of enclosure performance standards; and robust demand for explosion-proof enclosures in the oil and gas industry, among others.
Benefits of electrical enclosures driving their adoption and making them a staple in electrical best practices include ability to dissipate heat thus contributing towards equipment safety; enhanced employee safety and reduces the risk of electrical fire; ensures cost-effective conformance to safety guidelines; easy installation; and durable with a long operating life, among others. The market also stands to benefit from continuous technology developments and innovations aimed at enhancing electrical enclosure`s ability to withstand specific environments and hazards. In this regard, fiberglass enclosures and composite materials such as carbon fiber composites represent key next generation enclosure materials growing in popularity. Benefits of these materials include anti-corrosive benefits unrivalled by polycarbonate enclosures; fiberglass is inexpensive; and carbon fiber is lighter, stronger and is a perfect replacement for metal enclosures.
Despite the growing popularity of newer materials, polycarbonate enclosures will continue to remain popular for their impact resistance, UV resistance and cost. The growing focus on the environment and sustainability is driving the commercial value of solvent free powder-coated electrical enclosures as compared to products with liquid finishes which carry volatile organic compounds (VOCs). Also powder-coated metal is more easily recycled, a key benefit of value in the emerging circular economy. The growing focus on the implementation of automation in industries, and the ensuing use of electrical and electronic machinery in the plant floor is benefiting demand for electrical and instrument enclosures in various types such as wall-mount, free standing, floor mount, junction box and trough types. The United States and Europe represent the largest markets worldwide with a combined share of 45.7%. China ranks as the fastest growing market with a CAGR of 8.6% over the analysis period, led by factors such as rapid industrialization in the country as evidenced by the fact that over 40.5% of the country`s gross domestic product is contributed by the industrial sector and surging electricity consumption to over 7 trillion kilowatt-hours (kWh) in 2018. Asia-Pacific excluding China follows next with a 7.1% CAGR led by India, and other Southeast Asian countries.
Key Competitors Covered in the Report
Allied Moulded Products, Inc.
APX Enclosures, Inc.
Atlas Precision Sheet Metal Solutions
Austin Electrical Enclosures
B&R Enclosures Pty. Ltd.
Eldon Holding AB
Emerson Electric Co.
Fibox Oy AB
Hammond Manufacturing Ltd.
nVent Electric plc
Rittal GmbH & Co. KG
Saginaw Control and Engineering
Schneider Electric SE
Geographies Analyzed in the Report
Europe (France, Germany, Italy, United Kingdom, Spain, Russia, and Rest of Europe)
Asia-Pacific (Australia, India, South Korea, and Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, and Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, United Arab Emirates, and Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 23898. Among this pool, 2151 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 478 unique participations, a total of 216 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world's only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.
Director, Corporate Communications
Global Industry Analysts, Inc.