The global electrical enclosure market reached a value of around US$6 billion in 2020. The market is expected to grow at a CAGR of around 6% during the period 2021-2026.
SHERIDAN, WYOMING, USA, Feb. 15, 2022 /EINPresswire.com/ — IMARC Group’s latest report, titled “Electrical Enclosures Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2021- 2026,” concludes that the global market for electrical enclosures reached approximately US$6 billion in 2020. An electrical enclosure is a cabinet or enclosure used to store and protect electrical or electronic equipment from electromagnetic or radio frequency interference. It is usually made from steel, aluminum or rigid plastic to protect against hazardous, non-hazardous and other environmental conditions. Electrical enclosures are widely used in the residential, industrial and commercial sectors to protect transformers, generators and telecommunications devices. They also enclose other components, such as distribution panels, circuit breakers, knobs, switches, and display monitors, to help prevent accidental electric shocks and add to the aesthetic value of the space.
We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
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Global Electrical Enclosures Market Trends:
The growing need for uninterrupted electricity supply across the world represents the major driver for the growth of the market. Rapid industrialization and the growing trend towards automation in various industries have also increased the demand for electrical enclosures globally. Also, with changing climatic conditions and improving living standards of consumers, there has been an increase in the adoption of heating, ventilation, and air conditioning (HVAC) systems, providing a positive boost. at the market. In addition, an increase in energy demand due to population growth and growing preference for smart grids, governments in various countries have put in place stringent regulations to upgrade existing transmission and distribution infrastructure. Thus, mandating the installation of electrical boxes in the residential and commercial sectors by governments contributes more to their sales. Additionally, the growing preference for smart or connected cities, increasing rates of adoption of renewable energy resources in several power plants, increasing penetration of green energy, and the advent of internet-enabled industrial enclosures of things (IoT) are some of the other factors driving the growth of the market. Going forward, the market is expected to grow at a CAGR of around 6% during the forecast period (2021-2026).
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Competitive landscape with key players:
The report has also analyzed the competitive landscape of the market with some of the key players.
• Schneider Electric
• ABB Ltd.
• Eaton Corporation
• Emerson Electric Company
• Alloy cast products
• AZZ Incorporated
• Fibox boxes
• Legrand S.A.
• Hubbell Incorporated
• Socomec SA Group
• Rittal GmbH & Co. Kg
Electrical Enclosures Market Segmentation:
Our report has categorized the market based on region, type, material type, mounting type, form factor, product type, design, and end-user.
Market Breakdown by Type:
• Junction boxes
• Disconnect boxes
• Operator interface boxes
• Environmental and climate control enclosures
• Push button enclosures
Breakdown of the market by type of material:
• Non metallic
Breakdown of the market by type of assembly:
• Wall box
• Floor mounted/free standing enclosure
Market Breakdown by Form Factor:
• Full size
Breakdown of the market by type of product:
• Drip proof
• Dangerous environment
• Explosion Proof/Explosion Proof
Market Breakdown by Design:
• Standard type
• Custom Type
Breakdown of the market by end user:
• Energy production
• Transmission and distribution
• Other electrical equipment
Market Breakdown by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, others)
Main highlights of the report:
• Market performance (2015-2020)
• Market Outlook (2021-2026)
• Porter’s five forces analysis
• Market drivers and success factors
• SWOT analysis
• Value chain
• Complete mapping of the competitive landscape
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