$8.1 Billion Worldwide Electrical Enclosures Industry to 2025 – Developing Regions Present Promising Growth Outlook – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Electrical Enclosures – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
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.
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.
Select Competitors (Total 53 Featured):
- ABB Limited
- Adalet
- Allied Moulded Products, Inc.
- APX Enclosures, Inc.
- Atlas Precision Sheet Metal Solutions
- Attabox LLC
- Austin Electrical Enclosures
- AZZ, Inc.
- B&R Enclosures Pty. Ltd.
- Eaton Corporation
- Eldon Holding AB
- Emerson Electric Co.
- Fibox Oy AB
- Hammond Manufacturing Ltd.
- Hubbell Inc.
- Legrand
- nVent Electric plc
- Rittal GmbH & Co. KG
- Saginaw Control and Engineering
- Schneider Electric SE (France).
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
- Influencer Market Insights
- Electrical Enclosure: An Introduction
- Electrical Enclosures Market: Current Scenario and Outlook
- Power Generation & Distribution: The Major End-Use Market
- Non-Metallic Enclosures: The Largest Segment
- Developing Regions Present Promising Growth Outlook
- Renewable Energy Generation in the US: Breakdown of Electricity Generated in Million MWh by Fuel Type for the Years 2010 and 2018
- Impact of Covid-19 and a Looming Global Recession
- Rising Electricity Demand, Expanding Power Infrastructure and Enhanced Focus on Safety of Electrical Equipment Drive Demand for Electrical Enclosures
- Rising Demand for Renewable Energy Augurs Well for Electrical Enclosures Market
- Non-Metallic Enclosures: Ideal for Use in Renewable Energy Applications
- Enclosure Standards for Electrical Industry: Essential to Ensure Safety of Equipment
- UL Releases New FTTA2/FTTA8 Recognition Certification for Enclosures in the US and Canada
- Sample Testing & Evaluation
- Simplifying Certification Process
- Securing FTTA2/FTTA8 Recognition
- Safety Emerges as a Prime Factor Fueling Adoption of Electrical Enclosures in Industrial Facilities
- Explosion-Proof Enclosures Vital for Industrial Settings
- Oil & Gas Industry: Need for Explosion-Proof Enclosures
- Rising Importance of Electrical Enclosures for Agricultural Farming Sector
- NEMA Ratings for Electrical Enclosures
- Mounting Types for Agricultural Electrical Enclosures
- Protecting Electronic Devices: Focus on Developing Rugged and Waterproof Enclosures
- Food & Beverage Industry Gives Rise to Demand for Hygienic Enclosures
- Mining Industry: Focus on Non-Metallic Enclosures
- Shift towards Industry 4.0 and IIoT Presents Demand Potential for Electrical Enclosures in IIoT and Smart Sensor Applications
- Metal, Thermoplastic and Fiberglass: The Primary Materials for Electrical Enclosures
- Plastic Enclosures Vs Steel Enclosures
- Fiberglass Electrical Enclosures: High Significance in Corrosive Applications
- Fiberglass Enclosures vs. Polycarbonate Enclosures: A Review
- Flexibility and Reduced Footprint Drive Demand for Modular Design Enclosures
- Best Materials for Modular Electrical Cabinets
- NEMA Enclosures: The Industry Standard for Electrical Manufacturers
- A Review of Various NEMA Ratings for Enclosures
- NEMA 3R Enclosures Hold an Edge for Outdoor Applications
- NEMA 3R Enclosures Not SuiTable for Outdoor Applications that are Hazardous
- Innovations & Advancements
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/5nlu8n
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