The global Electrical Enclosure market is anticipated to represent incremental opportunity of US$ 3,940.2 Mn between 2018 and 2028.
Valley Cottage, NY -- (SBWIRE) -- 07/03/2018 -- An electrical enclosure is used to protect users from electric shock and electrical or electronic components from the environment. The manufacturers of the electrical enclosure not only concentrate on the safety aspect of it, but also on the attractiveness, to make the enclosure pleasing to the eye. The electrical enclosure can be used to mount switches, displays and knobs.
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. Electrical enclosure is also used to protect electrical equipment such as transmitters, power distribution systems, power generators, etc.
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.
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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 Based on product size: Small, Compact, Free Size; Based on end-use industry: Food & Beverages, Commercial, Energy & Power, Others; Based on material type: Metallic, Non-Metallic
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.
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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