The global electrical enclosure market is set for significant growth, with an estimated value of USD 46.6 billion by 2022. This growth trend is expected to continue, propelled by strong demand from sectors such as mining and other industrial applications. By 2033, the market is anticipated to reach a valuation of USD 81.3 billion, indicating a robust compound annual growth rate (CAGR) of 5.2% from 2023 to 2033. Early estimates suggest that by 2023, the market will reach USD 49.0 billion, highlighting the strong growth momentum and the extensive opportunities within the electrical enclosure market.
Electrical enclosures are vital components across a range of industries, offering crucial protection for electrical equipment and ensuring safe operations in various environments.
Growth Factors:
- Expansion in Applications: The increasing use of electrical enclosures across the electronics and electrical industries is driving market growth, as these sectors require reliable protection for sensitive equipment and components.
- Demand from Renewable Energy: The growing reliance on renewable energy sources is further propelling market expansion. The renewable energy sector depends on electrical enclosures to ensure the safe and efficient operation of equipment.
- Technological Advancements: The widespread adoption of advanced technologies is expected to fuel market growth. Industries are continually seeking innovative solutions to enhance equipment protection and performance.
- Urbanization Trends: The ongoing trend of urbanization is providing a significant boost to market growth. Urban development projects necessitate the use of electrical enclosures for various applications, driving demand across multiple sectors.
Competitive Landscape:
Key players operating in the electrical enclosure market are aiming at developing and launching novel products to strengthen their product portfolio and gain a competitive edge. Other manufacturers are focusing on adopting inorganic strategies such as mergers and acquisitions to increase their market share.
- In July -2020 – Rittal rounded off its AX range of compact enclosures with its newly developed plastic enclosures. The manufacturer now offers the best of two worlds: the advantages of sophisticated technology combined with the benefits of an extremely robust material. The AX plastic enclosure protects the electrical components even in very harsh environments, such as outdoors. Its new mounting functions make rapid expansion possible and provide greater scope for installation using smart technology.
- Eaton provides a comprehensive portfolio of electrical products, including circuit breakers, switches, meters, power distribution units, and surge protection devices. Eaton offers power distribution systems, electrical panel boards, switchgear, and electrical engineering services to customers in the commercial, industrial, and utility sectors.
Key Players:
- Schneider Electric SE
- Legrand SA
- Hubbell Inc.
- Emerson Electric Co.
- ABB Ltd
- Eaton Corporation
- Eldon Holding AB
- AZZ Inc.
- Austin Electrical Enclosures
- Siemens AG
- Pentair PLC
- Rittal GmbH & Co. Kg.
- Adalet (Scott Fetzer Company)
Key Segmentations:
By Product Type:
- Junction Enclosures
- Disconnect Enclosures
- Operator Interface
- Enclosures
- Environment and Climate
- Control Enclosures
- Push Button Enclosures
By Material Type:
- Metallic
- Aluminium
- Mild steel
- Stainless Steel
- Non-Metallic
- Fiberglass
- Polycarbonate
- Polyester
- ABS
By Design:
- Standard Type
- Custom Type
By Configuration:
- Wall Mount Enclosures
- Floor Mount Enclosures
- Freestanding Enclosures
By End Use Sector:
- Industrial
- Residential and Commercial
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East & Africa
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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