Dublin, Nov. 01, 2022 (GLOBE NEWSWIRE) -- The "Electrical Enclosures - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Electrical Enclosures Market to Reach $8 Billion by 2027
Amid the COVID-19 crisis, the global market for Electrical Enclosures estimated at US$5.6 Billion in the year 2020, is projected to reach a revised size of US$8 Billion by 2027, growing at a CAGR of 5.2% over the period 2020-2027. Metallic, one of the segments analyzed in the report, is projected to record 4.8% CAGR and reach US$5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Non-Metallic segment is readjusted to a revised 5.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.8 Billion, While China is Forecast to Grow at 8.1% CAGR
The Electrical Enclosures market in the U.S. is estimated at US$1.8 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$1.5 Billion by the year 2027 trailing a CAGR of 8.1% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR.
Select Competitors (Total 94 Featured)
- ABB Limited
- Adalet
- Allied Moulded Products, Inc.
- Atlas Precision Sheet Metal Solutions
- Attabox LLC
- APX Enclosures, Inc.
- Austin Electrical Enclosures
- AZZ, Inc.
- B&R Enclosures Pty. Ltd.
- Eaton Corporation
- Emerson Electric Co.
- Fibox Oy AB
- Hammond Manufacturing Ltd.
- Hubbell Inc.
- Legrand
- nVent Electric plc
- Rittal GmbH & Co. KG
- Saginaw Control and Engineering
- Schneider Electric SE
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession
- 2020 Marked as a Year of Disruption & Transformation
- World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
- Pandemic Severely Disrupts Demand for Electrical Equipment and Products
- An Introduction to Electrical Enclosures
- Parameters Determining Use of Electrical Enclosure
- Global Market Prospects & Outlook
- Non-Metallic Enclosures: The Largest Segment
- Power Generation & Distribution: The Major End-Use Market
- Developing Regions Present Promising Growth Outlook
- Electrical Enclosures - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Competition
- Electrical Enclosure Competitor Market Share Scenario Worldwide (in %): 2020E
- Wall Mounted Electric Enclosures Global Competitor Market Share Positioning for 2020E
- Floor Mounted Electric Enclosures Market Share Breakdown of Key Players: 2020E
- World Brands
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Rising Electricity Demand, Expanding Power Infrastructure and Focus on Safety of Electrical Equipment: Factors Driving Demand for Electrical Enclosures
- Pandemic's Impact on Utilities Affects Demand for Enclosures
- Focus on Increasing Renewable Energy Contribution to Global Energy Mix Augurs Well for Electrical Enclosures Market
- Non-Metallic Enclosures: Ideal for Use in Renewable Energy Applications
- Growing Pressure on Power Grids, Aging Infrastructure and Need to Expand Power T&D Infrastructure to Propel Electrical Enclosures Market
- With Smart Grid Implementations Gaining Traction, Opportunities in Store for Electrical Enclosures Market
- Enclosure Standards for Electrical Industry: Essential to Ensure Safety of Equipment
- UL Releases New FTTA2/FTTA8 Recognition Certification for Enclosures in the US and Canada
- Safety Emerges as a Prime Factor Fueling Adoption of Electrical Enclosures in Industrial Facilities
- Explosion-Proof Enclosures Vital for Industrial Settings
- Oil & Gas Industry: Hazardous Conditions Propel Need for Explosion-Proof Enclosures
- Sustained Reliance on Fossil Fuels and Ensuing Demand for Oil Bodes Well for Market Expansion
- Oil and Gas Industry Confronts Challenging Times Amidst COVID-19 Outbreak, Affecting Demand for Electrical Equipment
- Rising Importance of Electrical Enclosures for Agricultural Farming Sector
- Mounting Types for Agricultural Electrical Enclosures
- Protecting Electronic Devices: Focus on Developing Rugged and Waterproof Enclosures
- Food & Beverage Industry Gives Rise to Demand for Hygienic Enclosures
- Electrical Enclosures for Transportation Sector: Promising Growth in Store
- Rising Adoption of Intelligent Transport Systems to Support Market Demand
- Shift towards Industry 4.0 and IIoT Presents Demand Potential for Electrical Enclosures in IIoT and Smart Sensor Applications
- Outdoor Electrical Enclosures: Need to Protect Electrical Equipment Drives Market
- Thermoset Plastics Find Growing Role in Electrical Enclosures
- Fiberglass Enclosures Vs. Polycarbonate Enclosures: A Review
- Flexibility and Reduced Footprint Drive Demand for Modular Design Enclosures
- Choice of Manufacturing Method: An Important Factor for Enclosures Market
- Efficient Thermal Management: A Key Requirement for Electrical Enclosures
- NEMA Enclosures: The Industry Standard for Electrical Manufacturers
- Innovations & Advancements Boost Market Prospects
- Growing Need to Protect Electrical Enclosures against Temperature Changes
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
SOUTH KOREA
REST OF ASIA-PACIFIC
LATIN AMERICA
ARGENTINA
BRAZIL
MEXICO
REST OF LATIN AMERICA
MIDDLE EAST
IRAN
ISRAEL
SAUDI ARABIA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
AFRICA
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/m8hbl1
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