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Electric Enclosure Market to See Huge Growth by 2030 | Schneider Electric SE, Hubbell Inc., Hammond Manufacturing, Saginaw Control and Engineering.

05-27-2021 10:35 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: TMR Research

Electric Enclosure Market to See Huge Growth by 2030 | Schneider

Electric enclosure is a cabinet used for protecting the electrical components such as transformers, generators and also to cover switches, knobs, and displays to prevent electric shocks.

In the renewable energy industries, the electric enclosures are in high demand. Many other factors such as growing awareness regarding safety and escalating cost of industrial maintenance operations are also creating sustained opportunities for players. Moreover, development of IOT-based enclosures are on a surge to grow the market and create more opportunities.

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Growing Investment in Renewable Energy

Globally, there is a growing focus on reducing dependence on non-renewable sources of energy. Governments, as well as private players, are focusing on developing renewable sources of energy. Solar and wind energy are safe, pollution free and most important, they are free to use and thus, countries especially, developed countries are investing heavily in this.

Effective operation of the systems used in generation of solar and wind energy depends on optimal conditions. Electric enclosures are widely used in these equipment to reduce damage, and wear & tear.

Growing AI based system

AI-based smart home facilities and sensors increase the dependence on electric enclosures. Growing security concerns are giving more opportunities to technology based system. US being the major adopter of technology is taking significant steps regarding AI-based homes.

Less Reliability in Metal Electric Enclosures

Metal electric enclosures when exposed to humid environment corrode or rust downgrading the market growth. Industries are focusing on manufacturing fiberglass and plastic electric enclosures that are reliable, do not corrode and are much more efficient than metallic Electrical Enclosures.

Expensive Metallic Electrical Enclosures

Demand for cheaper and efficient products by the target audience leverage the manufacturers to focus on manufacturing the inexpensive products to maintain steady growth. The companies are focusing on making fiberglass and plastic electric enclosures due to their cost effective nature.

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Regional Outlook on Electric Enclosures Market

Being the hub of industrialization, China is a profitable market for electric enclosures. As the awareness regarding the development of infrastructure increases, the need for electric enclosures also goes high thus, escalating the market. India has been investing in electricity since many years to make it available everywhere.

electric enclosure market

In developed countries like North America and Europe, smart home integration systems, AI based integrated systems are expected to drive the market. The technological advancements in smart and IOT based devices are the opportunities to grow the market for electric enclosures.

Electric Enclosure Market- Competitive Landscape

The prominent players in the market for Electric enclosures are:

Schneider Electric SE
ABB Ltd
Hubbell Inc.
Emerson Electric Co.
AZZ Incorporated
Hammond Manufacturing
Adalet Ltd.
Omega Engineering
Pentair PLC.
Saginaw Control and Engineering.
Recent developments in Electric Enclosure Market

In February 2018, Rittal North America LLC introduced SE 8 lien of stand-alone enclosures providing durability and much more usable internal space as compared to unibody designs. It consists of interchangeable accessories, cable entry options, plinth, cables base and flex box too.
In May 2018, JSC Rusatom Automated Control Systems and Schneider Electric signed a memorandum of understanding and cooperation for cooperation regarding cost efficiency and safety for NPP power units and power grid.
Electric Enclosure Market- Segments

By Material
Metallic Enclosures
Non- Metallic Enclosures
By Mounting
Wall Mounted
Underground
Free-Standing
By Industry Vertical
Transportation
Medical
Oil and Gas
Manufacturing
Automotive
Infrastructure
Power Generation
By Form Factor
Free Size
Compact
Small
By Regions
North America
Europe
Asia Pacific
Middle East and Africa
South America
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Key Q&A

What is the global electric enclosure market size, and what are future growth prospects?

The global electric enclosure market size is in the upwards of USD 5 billion, and during the period 2020-2030, it will grow at an average rate of over 8%

What will be the key factor to electric enclosure market growth?

Investment in developing renewable sources of energy will be a key driver for electric enclosure market. Governments across the globe are prioritizing development of renewable source of energy.

Which are the most lucrative markets for electric enclosures?

The US, GCC, and Australia-NZ are among the lucrative markets for electric enclosures. Demand is likely to grow in EU3 also during the assessment period.

About TMR Research

TMR Research is a premier provider of customized market research and consulting services to busi-ness entities keen on succeeding in today’s supercharged economic climate. Armed with an experi-enced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.

Contact:

TMR Research,
3739 Balboa St # 1097,
San Francisco, CA 94121
United States
Tel: +1-415-520-1050

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