Global Electrical Enclosures Market Share Is Likely To Reach At A CAGR Value Of Around 4.21% By 2030

13-Feb-2023 | Facts and Factors

According to Facts and Factors, the global electrical enclosures market size was worth around USD 5.9 billion in 2021 and is predicted to grow to around USD 11.1 billion by 2030 with a compound annual growth rate (CAGR) of roughly 4.21% between 2022 and 2030.

An electric enclosure can be considered a house for electrical parts or components. The end goal of the enclosures is to provide protection to the people handling the equipment while at the same time acting as a safe house for the devices against environmental corrosion. Every country has set standards that manufacturers of electrical enclosures have to follow.

Browse the full “Electrical Enclosures Market Size, Share, Growth Analysis Report By End-User (Process Industries, Energy & Power, Metal & Mining, and Others), By Material Type (Non-Metallic and Metallic), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030" report at https://www.fnfresearch.com/electrical-enclosures-market

For instance, the regulatory authority in the United States is the National Electrical Manufacturers Association (NEMA). At an international level, the International Electrotechnical Commission is the responsible authority for classifying electrical enclosures using ingress protection rating (IP) codes. Different types of materials are used to manufacture electrical enclosures including metal and non-metal materials. The most commonly used metal is stainless steel however rigid plastics have also maintained a stronghold in the global market applications. However, the non-metallic material may require the user to invest in additional measures to meet conductivity requirements.

The global electrical enclosures market is projected to grow owing to multiple factors including the growing investments in infrastructure development across the globe, especially in the end-user verticals like energy & power along with the rise in the mining sector. Infrastructure development is currently the main aim of regional governments driven by the role it plays in overall economic growth. Furthermore, the rising consumption levels of electricity driven by factors like surging sales of electronic goods, the rising requirement for commercial and residential electricity supply, and investments in renewable sources for electricity generation could lead to higher revenue during the forecast period. The global market can expect favorable situations arising from the increase in activities related to new product development with better and sustainable materials along with growing work on managing the existing technical challenges faced while working with electrical enclosures for instance the negative impact of condensation, dust, and changing temperature.

However, some of the key growth restraining factors for the electrical enclosures industry are expected to limit the global market expansion. One such reason could be the rising political tension across dominant regions like Russia, China, the USA, and India. Political turmoil has always acted as an influencing factor that can cause severe disruption in economic growth caused by roadblocks in the way of industrial expansion. Additionally, the changing price of raw materials resulting from changing fuel prices, non-friendly, logistic conditions, and dynamic or volatile international trade laws could also cause a loss of revenue during the forecast period.

The growing product advancement may provide growth opportunities whereas the drastically changing climate conditions could act as a major challenge.

Segmental Analysis 

The global electrical enclosures market is segmented based on end-user, material type, and region

Based on end-user, the global market is divided into process industries, energy & power, metal & mining, and others.

• In 2021, the global market registered the highest growth in the energy & power segment which is projected to dominate during the forecast period as well
• The factors that contribute to the segmental growth are increasing urbanization causing more people to shift to urban areas resulting in high demand for constant electricity supply along with rising investment in rural infrastructure necessitating the requirement of an increase in energy & power in remote areas as well
• In 2020, the US reported electricity access at 100%
• The metal & mining segment is also a significant growth contributor where only high-grade electrical enclosures can be used to avoid any unwanted incidents

Based on material type, the electrical enclosures industry is segmented into non-metallic and metallic

• The global market registered high growth in the metallic segment in 2021 since they are the most widely used material types for producing electrical enclosures
• Stainless steel and carbon steel are the most commonly used materials since they provide high resistance to corrosion along with exceptional durability
• These metals are also the strongest of all the other options
• Stainless steel has 10.5% of chromium content which allows it to become highly resistant to corrosion

Regional Analysis

North America is anticipated to lead the global electrical enclosure market with the US acting as the major regional market share contributor. The growth can be expected due to the rising leveraging of existing energy and power infrastructure along with growing investments by the government strengthened by the private sector in the energy segment.

The growth in Europe may be propelled by the consistently growing number of players offering solutions to an ever-expanding international client database. Germany is showing signs of growth at the fastest CAGR driven by the automobile segment along with the energy and mining industries. Asia-Pacific can benefit from the infrastructural investment that is rising at a rapid rate, especially in the economies of India and China propelled by rapid industrialization, entry of international players, and growing government initiatives.

Report Scope

Competitive Analysis

The global electrical enclosures market is led by players like Schneider Electric SE, Hubbell Inc., Legrand SA, Emerson Electric Co., ABB Ltd, Eldon Holding AB, Pentair PLC, Siemens AG, Rittal GmbH & Co. Kg., Saginaw Control & Engineering, Hammond Manufacturing Ltd., TAKACHI ELECTRONICS ENCLOSURE CO., LTD., Leviton Manufacturing Co., Inc., Fibox Oy Ab, OMEGA Engineering, General Electric, Socomec, Austin Electrical Enclosures, Rittal GmbH & Co. Kg., Adalet, AZZ Inc., Nvent Electric PLC, and Eaton Corporation.

Recent Developments:

• In November 2022, Finelcomp Oy was purchased by KAMIC Group AB, a Sweden-based company known for acquiring, owning, and developing technology-based businesses. Finelcomp Oy is the largest producer of electrical enclosures in Finland
• In November 2019, Legrand, a global specialist in digital building and electrical infrastructures announced the acquisition of Connectrac. The latter works with floor cable management. With the acquisition, Legrand has managed to strengthen its hold in the electrical enclosures industry

The global electrical enclosures market is segmented as follows:

By End-User

• Process Industries
• Energy & Power
• Metal & Mining
• Others

By Material Type

• Non-Metallic
• Metallic

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:
Facts & Factors
A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1 (347) 690-0211
Email: [email protected]
Web: https://www.fnfresearch.com