The global electric enclosure market is estimated to grow at a CAGR of 4.8% during the forecast period. Rising industrialization is one of the major factors accelerating market growth. Industrialization is growing rapidly across the globe owing to the increasing food and beverage industry and growing metal and mining industry. Additionally, most of the industrial facilities are focused on smart manufacturing coupled with the advent of Industry 4.0, which in turn, is also contributing to the adoption of electric enclosures. In industrial applications, enclosures are optimized for use for particularly fulfilling the requirements of the IoT and Industry 4.0.
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Electronic systems are significantly distributed all over the smart factory for interoperability, decentralized decision making, and information transparency. Enclosures offer an easier and faster assembly and greater flexibility, enhanced safety, and component installation. For electronics protection in an industrial setting, some industrial enclosures that are available in the market include the ABS range, 1554 and 1555 IP66 polycarbonate, and the 1550 and 1590 die-cast enclosures. Such kinds of industrial enclosures support housing and protecting machinery controls, electrical equipment, wiring and cables, and more.
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Scope of the Electric Enclosure Market
Market Coverage
- The market number available for 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Material and Vertical
- Regions Covered- North America, Europe, Asia-Pacific, and Rest of the World
- Competitive Landscape- ABB Ltd., Schneider Electric SE, Legrand SA, Rittal GmbH & Co. KG, and Hubbell Inc.
Recent Strategic Initiatives in the Global Electric Enclosure Market
- In September 2019, nVent Electric plc declared the acquisition of Eldon Holding AB, a European-based enclosures business. nVent offers advanced solutions for protection, connection, and management of heat in and communication equipment, critical electronics, and control and power through its nVent SCHROFF and nVent HOFFMAN brands. The acquisition of Eldon complements the nVent enclosures business. nVent has been concentrated on reinforcing its digital capabilities to serve customers with a velocity which aligns very well with this strategy.
- In May 2019, Rittal launched the AX and KX enclosures that are fixed with digital processes. This new range delivers easier, increased safety, greater flexibility, and component installation, and faster assembly. These are redesigned with the principles of Industry 4.0.
Key questions addressed by the report
- What is the market growth rate?
- Which segment/region dominates the market in the base year?
- Which segment/region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from the pre-COVID forecast
o Most affected region/segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Electric Enclosure Market-Segmentation
By Material
- Metallic
- Non-Metallic
By Vertical
- Energy and Utilities
- Industrial (Automotive and Manufacturing)
- IT and Telecommunication
- Process Industries
- Others
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