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Global Junction Box Market Growth Accelerates with IoT & Industrial Automation Trends | Key Insights 2024-2029
Junction Box Market SizeThe global Junction Box revenue was US$ 4020.5 million in 2022 and is forecast to a readjusted size of US$ 7797.9 million by 2029 with a CAGR of 7.7% during the forecast period (2023-2029).
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The major players in global junction box market include Renhe, Zhonghuan Sunter, Schneider Electric, etc. The market concentration rate is low, and the top player occupies about 7% shares of the global market. Asia and Europe are main markets, they occupy over 55% and 18% of the global market. Non-metallic junction box is the main type, with a share over 78%. Industrial is the key application, which hold about 35% shares.
This report focuses on global and India Junction Box market, also covers the segmentation data of other regions in regional level and county level.
India is now the world's most populous country. According to IMF (its July update to its World Economic Outlook), India's GDP growth is projected at 6.1% in 2023, powered by domestic investment. First and foremost, the key factor in India's rapid economic growth is the huge supply and demand from a large population base. Demand and supply sides working in both directions to support India's economic stability.
India is a market full of opportunities, and the demand for Junction Box will continue to grow rapidly in the future.
By Type
• Non-Metallic Junction Box
• Metallic Junction Box
By Application
• Photovoltaic Plants
• Industrial
• Commercial
• Infrastructure
• Residential
Key Companies
Renhe, Zhonghuan Sunter, Schneider Electric, Tonglin Electric, Eaton, Emerson, Legrand, nVent, Fibox, QC Solar, Hensel, Rittal, ABB, Weidmuller, Cortem, XTONG, Haitian, Hammond, Hubbell, Spelsberg, Ningbo GZX
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