Global Electrical Enclosures Market 2021 Segmentation and Analysis by Recent Trends, Development and Growth by Trending Regions by 2024

Electrical Enclosures

Electrical Enclosures Market” report provides strategic supports mentioned by the business specialists with market sources, amount of manufacturing cost structure, raw materials, forecasts, turnover, manufacturing outlays, latest market trends, labor cost, demands and much more. Electrical Enclosures market report covers a comprehensive market structure through the globe with an in-depth study of major dynamics (Drivers, Challenges, Opportunities).  

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Key Market Trends:

Energy and Power End-User Industry to Hold a Significant Share

– Environmental issues related to fossil fuels and nuclear energy are 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.
– Power generated from solar and wind sources use sensitive electrical components and batteries that if exposed to the elements cause system failure. Therefore, the energy generation sector is significantly using electrical enclosures for safety purposes.
– Wind and solar energy equipment require capabilities that include seismic protection, EMC shielding, electronics cooling, security, resistance to corrosion, and integration of power conversion and multi-component systems, which is achieved by the use of electrical enclosures.
– As the electrical enclosures are deployed in protecting the electrical and electronic components and systems of solar, wind, and electrical power plants, government regulations are also supporting the adoption of renewable energy sources, in turn, boosting the demand for electrical enclosures.

North America to Account for a Major Share

– The growing industrial automation and smart home integration are expected to drive the electrical enclosures market significantly in this region, particularly due to the being an early adopter of industrial automation.
– About 63% of this electricity generation was from fossil fuels, a decline by 2% from 65% in 2018. About 20% of the energy from fossil fuels was from nuclear energy and about 17% was from renewable energy sources. The US Energy Information Administration estimates that an additional 30 billion kWh of electricity generation was from small-scale solar photovoltaic systems in 2018. The regulating bodies in the region have been the prime players in stimulating the electrical enclosures demand.
– There is a significant penetration of smart homes in North America owing to the growing security concerns and awareness in energy conservation. The technological advancements in smart devices and the adoption of those devices into many households are expected to act as opportunities for the electrical enclosures market, owing to the consumer behavior of having a clean environment.
– The increasing establishments of such plants and the stringent rules associated with them are expected to drive the electronic enclosures market exponentially in the North American region.

Market Overview:

  • The electrical enclosures market was valued at USD 5.34 billion in 2018, and is expected to reach USD 8.74 billion by 2024, at a CAGR of 8.57% over the forecast period (2019 – 2024). Owing to the increasing power and industrial infrastructure, the need for protection of the workplace and workforce is also increasing, which has led to the adoption of safety standards for equipment in the industries. This has made electrical enclosures a crucial element in industrial and residential applications.
  • – Global energy consumption continues to grow at about 1.9% annually, according to the Precision Metal Industries, as demand for electricity is increasing, as the trend for an ever-connected world accelerates.
  • – Power generated from solar and wind sources use sensitive electrical components and batteries that if exposed to the elements cause system failure. Therefore, the energy generation sector is significantly using electrical enclosures for safety purposes.
  • – The acceptance of industrial and factory automation allows the entry of more mechanical, electromechanical, and solid-state devices, components, and controls that need to be enclosed for safety and aesthetic purposes, thereby driving the market growth. As a result of this, the governments of many countries have implemented stringent regulations regarding safety globally, and this parameter is significantly driving the growth of the electrical enclosures market.

    Key Manufacturers Like 

  • Schneider Electric SE
  • Legrand SA
  • Hubbell Inc.
  • Emerson Electric Co.
  • ABB Ltd
  • Eaton Corporation
  • Eldon Holding AB
  • AZZ Inc.
  • Austin Electrical Enclosures
  • Siemens AG
  • Pentair PLC
  • Rittal GmbH & Co. Kg.
  • Adalet (Scott Fetzer Company).

    Scope of the Report:

  • An electrical enclosure is a cabinet for electrical or electronic equipment to mount switches, knobs, and displays and to prevent electrical shock to equipment users and protect the contents from the environment. Electrical enclosures are made up of two types of material, namely metallic and non-metallic. The electrical enclosures are being used in energy and power, industrial, process industries, transportation, infrastructure, and telecommunication industries.

    Electrical Enclosures market report focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the Electrical Enclosures market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Electrical Enclosures market have also been involved in the study.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

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    Key Questions Answered in Market Report: –

    • What will the market growth rate, Overview and Analysis by Type of Electrical Enclosures market in 2023?
    • What are the key factors driving, Analysis by Applications and Countries Electrical Enclosures market?
    • What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Electrical Enclosures ?
    • Who are Opportunities, Risk and Driving Force of Electrical Enclosures market? Knows Upstream Raw Materials Sourcing and Downstream Buyers
    • Who are the opportunities and threats faced by the vendors in Electrical Enclosures space? Business Overview by Type, Applications, Gross Margin and Market Share
    • What are the Electrical Enclosures market opportunities, market risk and market overview of the Market?

    Lastly, the Global Electrical Enclosures Market Research covers a complete market structure across the world with a comprehensive analysis of major key factors. This report provides planned orientations referred by the industry experts.

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    Study objectives of Electrical Enclosures Market Report:

    • To provide a detailed analysis of the market structure along with the Electrical Enclosures market forecast of various segments and sub-segments of the Electrical Enclosures market
    • To provide insights into factors influencing and affecting market growth
    • To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
    • To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
    • To provide economic factors, technology and Electrical Enclosures market trends that influence the global Electrical Enclosures market

    Detailed TOC of Electrical Enclosures Market Report 2019-2024:

    1 INTRODUCTION

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET INSIGHTS
    4.1 Market Overview
    4.2 Industry Attractiveness – Porter’s Five Forces Analysis
    4.2.1 Bargaining Power of Suppliers
    4.2.2 Bargaining Power of Consumers
    4.2.3 Threat of New Entrants
    4.2.4 Threat of Substitute Products
    4.2.5 Competitive Rivalry within the Industry

    5 MARKET DYNAMICS
    5.1 INTRODUCTION to Market Dynamics
    5.2 Market Drivers
    5.2.1 Growing Power Infrastructure Developments
    5.2.2 Rising Adoption of Industrial Automation
    5.3 Market Restraints
    5.3.1 Quality and Safety Concerns

    6 MARKET SEGMENTATION
    6.1 By Material
    6.1.1 Metallic
    6.1.2 Non-metallic
    6.2 By End-user Industry
    6.2.1 Energy and Power
    6.2.2 Industrial (Automotive and Manufacturing)
    6.2.3 Process Industries
    6.2.4 Other End-user Industries (Transportation, Infrastructure, and Telecommunication)
    6.3 Geography
    6.3.1 North America
    6.3.2 Europe
    6.3.3 Asia-Pacific
    6.3.4 Latin America
    6.3.5 Middle East & Africa

    7 COMPETITIVE LANDSCAPE
    7.1 Company Profiles
    7.1.1 Schneider Electric SE
    7.1.2 Legrand SA
    7.1.3 Hubbell Inc.
    7.1.4 Emerson Electric Co.
    7.1.5 ABB Ltd
    7.1.6 Eaton Corporation
    7.1.7 Eldon Holding AB
    7.1.8 AZZ Inc.
    7.1.9 Austin Electrical Enclosures
    7.1.10 Siemens AG
    7.1.11 Pentair PLC
    7.1.12 Rittal GmbH & Co. Kg.
    7.1.13 Adalet (Scott Fetzer Company)

    8 INVESTMENT ANALYSIS

    9 MARKET OPPORTUNITIES AND FUTURE TRENDS

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