1. What is the projected Compound Annual Growth Rate (CAGR) of the Electrical Enclosure Market?
The projected CAGR is approximately 7.4%.
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Electrical Enclosure MarketElectrical Enclosure Market by Type (Wall-mounted, Floor-mounted/Freestanding, Others), by Material Type ((Metallic (Stainless steel, Aluminum, Others), by Application (Industrial Control Systems (Manufacturing, Automotive), by By Type (Wall-mounted, Floor-mounted/Freestanding, Others), by Europe (U.K., Germany, France, Italy, Spain, Russia, Benelux, Nordics, Rest of Europe), by Asia Pacific (China, Japan, India, South Korea, ASEAN, Oceania, Rest of the Asia Pacific), by Middle East & Africa (Turkey, Israel, GCC, North Africa, South Africa, Rest of the Middle East & Africa), by South America (Brazil, Argentina, Rest of South America) Forecast 2026-2034
The size of the Electrical Enclosure market was valued at USD 7.07 USD Billion in 2023 and is projected to reach USD 11.65 USD Billion by 2032, with an expected CAGR of 7.4% during the forecast period. An electrical enclosure is a type of compartment that contains electrical as well as electronic parts to protect the parts from any form of influence by environmental factors and also from the effects that are brought about by tampering. These enclosures are available in three; metal, plastic, and fiberglass, and come with a different level of hardness and resistance. Metal enclosures including steel or aluminum offer high strength and durability as well as physical shock resistance and plastic enclosures offer lightweight and no corrosion. Fiberglass enclosures provide a good measure of strength and such features as chemical and heat resistance. These are normally attributes of electrical enclosures as some of them are waterproof, some are have provision for ventilation, and some are locked for security. They are widely applied in industrial control panels, outdoor electric facilities, and trade electric circuitries.
Type:
Material Type:
Application:
October 2023: Rittal released the new VX SE Floormount enclosure NEMA 12/3R.
July 2023: Jameco Electronics added FIBOX-enhanced quality outdoor and indoor enclosures to their product line.
January 2023: nVent introduced the nVent HOFFMAN Extreme Environments product line.
July 2022: Schneider Electric launched the PrismaSeT S range, new metal enclosures.
March 2021: nVent expanded its industry enclosure solutions with a freestanding enclosure product line.
The global electrical enclosure market is geographically segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
Asia-Pacific currently dominates the market, holding the largest market share, primarily driven by the flourishing economies and rapid industrialization in countries like China, India, and Japan. The region's growing manufacturing and infrastructure sectors have spurred the demand for electrical enclosures to protect and house critical electrical components.
North America and Europe follow closely behind Asia-Pacific, with well-established electrical industries and stringent safety regulations. The presence of major manufacturers and advanced infrastructure in these regions contributes to their significant market share.
South America and the Middle East and Africa exhibit moderate growth in the electrical enclosure market. South America's expanding energy and mining sectors present opportunities for enclosure manufacturers. In the Middle East and Africa, increasing infrastructure investments, particularly in the oil and gas and construction industries, are driving the demand for electrical enclosures.
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 7.4% from 2020-2034 |
| Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 7.4%.
Key companies in the market include Schneider Electric (France), Hubbell (U.S.), nVent (Eldon Holdings) (U.K.), Siemens (Germany), Rittal GmbH & Co. KG (Germany), Eaton (U.S.), Hammond Manufacturing Ltd (Canada), Saipwell Electric Co., Ltd. (China), Fibox (Finland), Equipto Electronics, Corp. (U.S.).
The market segments include Type, Material Type, Application.
The market size is estimated to be USD 7.07 USD Billion as of 2022.
Customized Application Tailored to Specific Industry Requirements to Drive Market Growth.
Integration of Smart Tools within Enclosures in Different Applications to Fuel Market Growth.
Environmental and Operational Limitations can Hamper Market Growth.
October 2023: Rittal released the new addition to its product portfolio, the VX SE Floormount enclosure NEMA 12/3R. It is designed for a range of outdoor and indoor commercial and industrial uses, such as machine tools, material handling, and automotive. The freestanding enclosure is ideal for machine builders, panel builders, and system integrators.
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4850, USD 5850, and USD 6850 respectively.
The market size is provided in terms of value, measured in USD Billion and volume, measured in K Units .
Yes, the market keyword associated with the report is "Electrical Enclosure Market," which aids in identifying and referencing the specific market segment covered.
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