Press release
Electrical Enclosure Market Size Estimated to Observe Significant Growth During 2015 – 2025
Metals, plastics, stainless steel, carbon steel and aluminum are the materials used to manufacture the electrical enclosure. Customized electrical enclosure can be used for mass-produced equipment and on the other hand, standardized enclosure is used for low production equipment.
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Electrical enclosure is also used to protect electrical equipment such as transmitters, power distribution systems, power generators, etc.
Electrical Enclosure Market: Drivers and Challenges
In future, industrial automation is expected to increase, which is forecast to fuel the demand for electrical enclosure. Globally, the governments of many countries like U.S.A. and U.K. have implemented stringent regulations regarding safety and this is driving the growth for the electrical enclosure market. The growing investment in renewable energy projects by various countries, increasing demand from food & beverage industry is fueling the growth for the global electrical enclosure market. The penetration of smart home equipment is expected to propel the demand for electrical enclosure.
Decrease in the demand for metallic enclosure is acting as an inhibitor to the global electrical enclosure market.
Electrical Enclosure Market: Overview
The global electrical enclosure market by value is expected to expand at a CAGR of around 5-7% during the forecast period (2015-2025), due to growth in electrical and electronics hardware industry, stringent government rules pertaining to the safety and increasing consumer awareness about the safety.
Electrical Enclosure Market: Segmentation
The global electrical enclosure market can be segmented by product size, by end-use industry, by material and by regions
Based on product size, the global electrical enclosure market is segmented as:
Small
Compact
Free Size
Based on end-use industry, the global electrical enclosure market is segmented as:
Food & Beverages
Commercial
Energy & Power
Others
Based on material type, the global electrical enclosure market is segmented as:
Metallic
Non-Metallic
Electrical Enclosure Market: Region-wise Outlook
The global electrical enclosure market is expected to register a single-digit CAGR for the forecast period. Depending on geographic regions, global electrical enclosure market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. In terms of market revenue, Asia Pacific electrical enclosure market is projected to register a significant CAGR during the forecast period. Growing automotive production, stringent government emission norms, changing consumer preferences, are some of the factors which are fueling the growth of electrical enclosure in Asia Pacific. Currently, Western Europe and North America are having stringent rules and these markets are consolidated, on the other hand, Asia Pacific and Latin America are unorganized markets. In future, Asia Pacific market is expected to rise as a good quality product production destination. The region is expected to produce environmentally friendly electrical enclosures.
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Electrical Enclosure Market: Key Players
Some of the key market participants in global electrical enclosure market are Eaton Corporation, Adalet Inc, Emerson Network Power, Schneider Electric, General Electric, Siemens AG, ABB, etc.
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