The global electrical enclosures market was valued at USD 4.18 billion in 2015 and is estimated to increase at a CAGR of 6.29%, to reach USD 5.67 billion by the end of 2020. Increasing growth in electrical and electronics hardware industry and an increase in consumer awareness about safety have been the key factors in the market. Electrical enclosures are used to protect users from electrical shocks and electronic components in the environment. Attractiveness, other than the safety aspects of electrical enclosures, has been a major factor for the manufacturers.
With the increase in industrial automation seen in the future, electrical enclosures market is expected to grow lucratively. Stringent regulations by the governments have been driving the growth of electrical enclosures market. Also, investment in renewable energy projects and the increasing demand for food & beverage are fueling the growth of the global electrical enclosures market. Penetration of the smart home equipment is expected to propel the demand for electrical enclosures. The decrease in demand for metallic enclosures has been inhibiting the growth of this market.
The global electrical enclosures market is segmented by material (aluminum, steel, glass reinforced polyester, polyvinyl chloride, polycarbonate and others), type (hazardous location enclosure, drift-tight, dust-tight and others), industry vertical (industrial, energy, food & beverage, transportation and others) and by region (North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa). The Asia Pacific electrical enclosures market is projected to register a significant CAGR during the forecast period. Stringent government emission norms, growing automotive production and changing consumer preferences stand as major factors bolstering the growth of this market in Asia Pacific.
This report describes a detailed study of the Porter’s five forces analysis of the market. All the five major factors in these markets have been quantified using the internal key parameters governing each of them. It also covers the market landscape of top players, which includes the key growth strategies, geographical footprint, and competition analysis.
The report also considers key trends that impact the industry and key profiles of leading companies in market, which include –
Legrand S.A. Hubbell Inc. Schneider Electric SE Emerson Electric Co. ABB Ltd. Pentair PLC Eaton Corporation Rittal gmbH & Co. Kg. Eldon Holding Ab AZZ Inc. Key Deliverables in the Study:
Market definition of electrical enclosures, along with identification of key drivers and restraints for the market. Market analysis for the global electrical enclosures market, with region-specific assessments and competition analysis on a global and regional scale. Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale. Extensively researched competitive landscape section with profiles of major companies, along with their strategic initiatives and market share. Identification and analysis of the macro and micro factors that affect the electrical enclosures market on both global and regional scale. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.