Global Electrical Enclosures Market Latest Industry Trends, Drivers, Growth & Risk Report 2022–2030
Safety of any type of product is of the utmost important and considered as a top priority when it comes development of any type whether it mechanical or electrical. While the world is aggressively growing courtesy of technological evolution, newer and safer products are being sought. Among various safety related products, electrical enclosure surely is an extremely important product and has been seeing massive demand. An electrical enclosure mainly is a cabinet for electronic equipment for mounting displays, switches and knobs and its job is to prevent shock to those using it and also safeguarding the nearby environment. It provides protection to the electronic devices from any rain, dust or changing climate. This electrical enclosure is an integral part of the electrical or electronic equipment which is visible to the users, and is primarily created for two things, one being the utilitarian needs and second is making it more pleasing to the eye. The production of an electrical enclosure is totally dependent on the industry that would be using it as regulations differ and are likely to dictate the kind of features it would possess. The electrical enclosures market is taking huge steps on the path of progress owing to various factors. One of the major factors that aid the growth of this market is continuously rising safety standards throughout the world.
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The COVID-19 pandemic immensely impacted the growth of the electrical enclosures market as it witnessed a slump in revenue generation. The primary cause behind this was the suspension of several infrastructure development projects across the globe. One of the biggest factors that drives the growth of the electrical enclosures market is massive demand for these products from residential projects. Construction companies are leaving no stone unturned in an attempt to make their properties shock proof. Also the fact that stringent rules and regulations imposed by governments across the planet in terms of electrification is helping the market grow.
Meanwhile, the cost plays an important role in the growth of any product or industry, and same applies to the electrical enclosures market. Higher costs associated with electrical enclosure products is likely to drag back this market’s growth. Constantly rising number of infrastructure projects across the countries like India, China and the United is the reason why the electrical enclosures market is forecasted to witness massive growth over the period of next few years.
The global electrical enclosures market was valued at US$ 6.02 Bn in 2021, growing at an estimated CAGR of 9.5% over the forecast period.
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By Material Type, Non-Metallic segment will witness growth at fastest rate for The Electrical Enclosures Market in 2022
This segment will see massive growth owing to the affordable costs and supreme quality of products like polycarbonate, ABS and others. These products are not only efficient but can withstand almost any calamity. The demand for non metallic products is likely to continue growing in next few years.
North America Region to witness fastest growth for this market Over the Forecast Period (2022–2030) in the Electrical Enclosures Market
The countries like the United States and Canada, are making huge investments towards development of newer infrastructure projects and encouraging rapid industrialization. This is expected to create a huge demand for electricity, for which the federal governments are keenly concentrating on installing newer lines for transmission and power distribution as it would help in setting up new national grid.
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Some of the major players operating in the global electrical enclosures market are listed below:
- AZZ Inc.
- Emerson Electric Co.
- Giant Reinforced Plastic Industries
- Intact Controls
- Legrand SA
- Rittal GmbH & Co. KG
- RR Global
- Schneider Electric
- Other Market Participants
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Global Electrical Enclosures Market Segmentation
Global Electrical Enclosures Market has been segmented by material type, configuration, distribution channel, enclosure type and end users which are further classified into respective countries:
Global Electrical Enclosures Market Material Type Outlook (Revenue, USD Million, 2015–2030)
- Stainless Steel
- Mild Steel
- Galvanized Steel
- Non metallic
Global Electrical Enclosures Market Configuration Type Outlook (Revenue, USD Million, 2015–2030)
- Wall mounting
- Floor Standing
- Pole Mount
- Pad Mount
Global Electrical Enclosures Market Distribution Channel Type Outlook (Revenue, USD Million, 2015–2030)
Global Electrical Enclosures Market Enclosure Type Outlook (Revenue, USD Million, 2015–2030)
- Large Electrical Enclosure
- Modular Electrical Enclosure
- Access Control Enclosure
- Electrical Pedestal Enclosure
- Double Door Electric Enclosure
Global Electrical Enclosures Market End Users Type Outlook (Revenue, USD Million, 2015–2030)
Global Electrical Enclosures Market Regional Outlook (Revenue, USD Million, 2015–2030)
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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