Latin America Electrical Cabinet Shelters Market - Growth, Trends, and Forecast (2018 - 2023)
The electrical cabinet shelters market finds application in industries, such as wastewater treatment, oil & gas exploration and production, telecommunication, aviation, and utility, as these do have electrical equipment placed outdoors making the need of shelters crucial. The industries driving the demand for electrical cabinet shelters include telecommunication, oil & gas, and wastewater treatment industries. Additionally, growth of the telecommunication industry in Latin America is expected to boost the electric cabinet shelter market in the region. The telecommunication infrastructure, especially cellular repeater, needs to be kept at specific temperatures to ensure continuous service. As these systems are usually installed in remote locations and places that are not easily accessible and exposed to extreme weather conditions, the need for electrical cabinet shelters becomes necessary.
Growth of the Telecommunication Industry is a rising Market Opportunity
It is estimated that 4G technology adaptation will be among the major drivers leading to telecommunication growth in the Latin American region. It is estimated that Uruguay, Brazil, Argentina, Chile, and Mexico will be among the regional hotspots for telecommunication growth, which will subsequently boost the demand for electrical cabinet shelters in the respective regions. Also, to develop the Mexican telecommunication market, the Mexican government has been taking initiatives to attract large entities in the market, like American Tower and Telesites.
Demand in Mexico Forecast to Increase
In 2016, Mexico consumed 89.5 billion cubic meters of natural gas, which is 3.6% more than the previous years, and the country is expected to continue the growth trend. Electrical equipment used in the natural gas-related industries need to be shielded and equipped with heat and smoke detectors, for security reasons. Such shelters are needed for equipment, like emergency generators, water pumps, operator workspace, and communication systems, etc. The increasing natural gas consumption will consequently require expansion of existing infrastructure, and hence will boost the demand for electrical cabinet shelters. Also, it is estimated that Mexico will have a GDP growth rate of 2.1%, which is a sign of recovery. Driven by growing telecommunication infrastructure in the region, the demand for electrical cabinet shelters is expected to rise.
Key Developments in the Market