Electrical Enclosure - Global Market Outlook (2021 - 2028)

Electrical Enclosure - Global Market Outlook (2021 - 2028)

According to Stratistics MRC, the Global Electrical Enclosure Market is accounted for $6.26 billion in 2021 and is expected to reach $10.87 billion by 2028 growing at a CAGR of 8.2% during the forecast period. An electrical enclosure is a device that contains various electronic components. It serves mainly two functions, first, protecting the user from electrical shock and second, safeguarding the parts it covers from external damage. Electrical enclosures are designed to be functional as well as provide visual value. An electrical enclosure is typically fitted within the layers of a wall so that all wires are hidden and the overall form looks clear.

Market Dynamics:

Driver:

The growing trend of automation in industries

The growing trend of automation in industries, along with the increasing product integration in smart homes is one of the key factors driving the growth of the market. In various developing nations, there is an urgent need to upgrade the existing power infrastructure to meet the energy demand of the rapidly increasing population. This coupled with the installation of power stations running on renewable energy sources such as solar and wind, is another factor contributing to the market growth.

Restraint:

High cost and seal leakage problems in electric enclosures

The high cost and seal leakage problems in electric enclosures restrain the market growth. Electrical enclosures seal tightly and prevent penetration of water or moisture. They also protect against electromagnetic interference, electrical breakdown and power dissipation. They find extensive applications in locations with potential risks of flammable gasses, combustible dust and volatile vapors or particles.

Opportunity:

The growing need for protection of the workplace & workforce

The growing need for protection of the workplace & workforce due to increasing power and industrial infrastructure is expected to drive the market over the predicted years. Also, the necessity to upgrade the power infrastructure in emerging countries and stringent safety & process regulations expects a boost to the market in the coming years. Additionally, the increasing focus on connected cities in developing regions, upsurging importance of customer services, and need for IIoT-enabled enclosures are anticipated to fuel the market during the forecasted period.

Threat:

Price competitiveness

There are a slew of restraining factors impeding market expansion. Some concerns, such as electrical leakage difficulties in electric enclosures and price competition, are key roadblocks. The global electrical enclosures market is highly competitive and fragmented with the presence of a few prominent companies and a high number of smaller players in the unorganized sector.

The oil and gas segment is expected to have the highest CAGR during the forecast period

The oil and gas segment is growing at the highest CAGR in the market. Growing demand in oil & gas industry for the nonmetallic enclosure is expected to increase the overall share of nonmetallic electric enclosure segment in the electric enclosure market.

The energy segment is expected to be the largest during the forecast period

The energy segment is expected to be the largest share in the market. Environmental issues related to fossil fuels and nuclear energy is prompting a rise in alternative energy sources, such as solar and wind energy. Solar and wind energy are considered as safe, pollution-free renewable energy. Countries around the world are embracing this technology.

Region with highest share:

North America is projected to hold the largest share in the market. The growing industrial automation and smart home integration are expected to drive the electrical enclosures market significantly in this region, particularly due to the United States being an early adopter of industrial automation.

Region with highest CAGR:

The Asia Pacific is projected to have the highest CAGR in the market. Major factors driving the market in APAC are the increased investment in the power generation & distribution sector in China and India. An addition of vast rail and road network will also be a major boost for the market in the region.

Key players in the market:

Some of the key players profiled in the Electrical Enclosure Market include ABB Ltd., Adalet Ltd, AZZ Incorporated, Eaton Corporation, Emerson Electric Co., Fibox, Hammond Manufacturing, Hubbell Incorporated, Legrand SA, Leviton Manufacturing Ltd, Pentair PLC., Rittal GmbH & Co. Kg., Saginaw Control and Engineering, Schneider Electric, and Socomec Group SA.

Key developments:

In May 2018: JSC Rusatom Automated Control Systems and Schneider Electric signed a Memorandum of Understanding and Cooperation aimed at further cooperation for high safety and reliability, cost-efficiency, as well as better competitiveness of electrical equipment for NPP power units and electric power grid.

In February 2018: Rittal North America LLC introduces the SE 8 line of stand-alone enclosures which provides strength and durability and 30% more useable internal space than comparable unibody designs. SE 8 features multiple interchangeable accessories, including all TS 8 interior system accessories, plus cable entry options, swing frames, chassis, rails and partial panels, lighting and grounding systems, plinth, cable base and flex block.

Mounting Types Covered:
Floor-Mounted/Free-Standing Enclosure
Underground Electric Enclosure
Wall-Mounted Enclosure

Form Factors Covered:
Compact Electric Enclosures
Full-Size/Free-Size Electric Enclosures
Small Enclosures

Material Types Covered:
Nonmetallic Enclosures
Metallic Enclosures

Types Covered:
Disconnect Enclosures
Environment and Climate Control Enclosures
Operator Interface Enclosures
Push Button Enclosures
Junction Enclosures

Designs Covered:
Standard Type
Custom Type

Product Types Covered:
Drip-Tight
Hazardous Environment
Flame/Explosion Proof
Dust-Tight

End Users Covered:
Medical
Metals & Mining
Oil & Gas
Power Generation and Distribution
Transmission
Pulp & Paper
Transportation
Food & Beverages
Energy
Industrial
Process Industries
Other End Users

Regions Covered:
North America
US
Canada
Mexico
Europe
Germany
UK
Italy
France
Spain
Rest of Europe
Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
South America
Argentina
Brazil
Chile
Rest of South America
Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances