Global Industrial Enclosures Market 2020-2024
Technavio has been monitoring the industrial enclosures market and it is poised to grow by $ 1.69 bn during 2020-2024 progressing at a CAGR of 5% during the forecast period. Our reports on industrial enclosures market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the increasing use of electrical and electronic equipment in manufacturing processes, stringent standards for enclosure design, and increased adoption of automation and communication technologies. In addition, increasing use of electrical and electronic equipment in manufacturing processes is anticipated to boost the growth of the market as well.
The industrial enclosures market analysis includes type segments and geographic landscapes
Technavio's industrial enclosures market is segmented as below:
By Geographic Landscape
- North America
- South America
This study identifies the growing investments in renewable energy sources as one of the prime reasons driving the industrial enclosures market growth during the next few years. Also, rising need for customized enclosures, and improvement in industrial enclosure design will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our industrial enclosures market covers the following areas:
- Industrial enclosures market sizing
- Industrial enclosures market forecast
- Industrial enclosures market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading industrial enclosures market vendors that include ABB Ltd., Berkshire Hathaway Inc., Eaton Corporation Plc, Emerson Electric Co., Hubbell Inc., IMS Companies LLC, nVent Electric Plc, Rittal GmbH & Co. KG, Sanmina Corp., and Schneider Electric SE. Also, the industrial enclosures market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.