Pune, India, Dec. 28, 2021 (GLOBE NEWSWIRE) -- The global electric enclosure market reached USD 7.5 Billion in 2021 at a CAGR of 6.50% during the forecast period, as per a market study by Quince Market Insights.
The electric enclosure is a cabinet used for the electric equipment to attach switches, knobs, and displays to avoid electrical shock and protect the content from the environment. The enclosure protects electrical equipment such as power generators, power distribution systems, transmitters, and so on. Dirt, rain, sleet, and snow are all weather concerns that the enclosure protects against. They're also suitable for food processing plants, dairies, refineries, and other corrosion-prone enterprises.
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The growing requirement for workplace and employee protection as a result of increased power and industrial infrastructure is likely to boost the market during the forecast period. In addition, the need to modernise power infrastructure in growing nations, as well as strict safety and process rules, are expected to drive the market growth over the projected timeframe.
There are a slew of restraining factors impeding market expansion. Some concerns, such as electrical leakage difficulties in electric enclosures and price competition, are key roadblocks.
COVID 19 Impact on Global Electric Enclosure Market
Many sectors have suffered substantial consequences as a result of COVID 19. The interruption in transportation and supply chain operations has also had a severe impact on the electric enclosure industry. Not only that, but the market has seen a decrease in sales volume as a result of its losses.
Global Electric Enclosure Market, by Type
Based on the type, the market is segmented into metallic enclosure {aluminum enclosures, aluminum enclosures, mild steel enclosures}, non-metallic enclosures {fiberglass enclosures, pvc enclosures, polyester enclosures, polycarbonate enclosures, abs}. Among these, fiberglass enclosures segment is projected to witness the fastest growth. The causes can be linked to the growing study and development of non-metallic materials with desirable and essential properties for enclosure applications.
Global Electric Enclosure Market, by Mounting Type
Based on the mounting type, the global electric enclosure market is segmented into wall-mounted enclosure, free-standing enclosure, underground electric enclosure. Among these, free standing enclosure is anticipated to witness the fastest market growth. Simpler designs, such as single monolithic enclosures in certain sizes utilized as stand-alone enclosures, are employed in free-standing enclosures. Electrical wires and gadgets are protected from frost, corrosion, and the weather by underground enclosures.
Global Electric Enclosure Market, by Form Factor
Based on the form factor, the market is segmented into small enclosures {terminal/junction boxes, electrical box enclosures, bus enclosures}, compact electric enclosures {sloped roof enclosures, single-standing enclosures, mining enclosures, hygienic design enclosures}, free-size electric enclosures {system enclosures, operator consoles, baying systems}. Among these, electrical box enclosures segment is projected to witness the fastest growth owing to its benefits. Electrical box enclosures are frequently required in wet environments, such as near ponds, lakes, and even underwater. Some of the industries in which they work have extremely humid surroundings, such as factories with outside operations that require adequate protection from snow and rain, or plants that use water treatment in their processes. In these cases, plastic is significantly superior to metal since it is waterproof and does not rust.
Global Electric Enclosure Market, by Application
Based on the application, the global electric enclosure market is segmented into power generation and distribution, oil & gas, metals & mining, medical, pulp & paper, transportation {roadways, railways, airways}, food & beverages. Among these, oil and gas segment is expected to witness the fastest growth in many developing nations like continuously increasing demand for oil and gas products, which are expected to drive the market.
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Global Electric Enclosure Market, by Region
Based on the region, the global access control system market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa and South America. Asia Pacific is witnessing the fastest growth owing to the huge investment made by the investors, key market players and government in the distribution and power generation sector in China and India.
Some Recent Developments in the Global Electric Enclosure Market:
- In May 2018, a memorandum of understanding and cooperation was signed between JSC Rusatom Automated Control Systems (Moscow) and Schneider Electric (France) to improve the safety, reliability, and cost-effectiveness of electrical equipment for nuclear power plants and the electric power grid.
- In February 2018, the Rittal North America LLC (U.S.) SE 8 range of stand-alone enclosures delivers improved strength and durability, as well as 30% more internal area than comparable unibody designs. The SE 8 accepts all TS 8 interior system accessories, including cable entry options, swing frames, chassis, rails and partial panels, lighting and grounding systems, plinth, cable base, and flex block.
Some Major Findings of the Global Electric Enclosure Market Include:
- Profiles of major market players operating in the global electric enclosure market include Rittal (North America), Schneider (France), Pentair (U.S.), ABB (Switzerland), Hubbel (U.S.), Eaton (Ireland), Fibox Enclosures (India), GE (U.S.), Emerson (U.S.), Eldon (Spain), Nitto Kogyo (Japan), ENSTO (India), Siemens (Germany), Legrand (France), Adalet (Ohio), Allied Moulded Products (U.S.), BOXCO (U.S.), Bison ProFab (U.S.), SRBox (India), ITS Enclosures (U.S.)
- Impact of COVID-19 on the global electric enclosure market.
For more insights on this subject, check report titled, “Electric Enclosure Market, by Type (Metallic Enclosure {Aluminum Enclosures, Aluminum Enclosures, Mild Steel Enclosures}, Non-metallic Enclosures {Fiberglass Enclosures, PVC Enclosures, Polyester Enclosures, Polycarbonate Enclosures, ABS}), by Mounting Type (Wall-Mounted Enclosure, Free-Standing Enclosure, Underground Electric Enclosure), by Form Factor (Small Enclosures {Terminal/Junction Boxes, Electrical Box Enclosures, Bus Enclosures}, Compact Electric Enclosures {Sloped Roof Enclosures, Single-Standing Enclosures, Mining Enclosures, Hygienic Design Enclosures}, Free-Size Electric Enclosures {System Enclosures, Operator Consoles, Baying Systems}), by Application (Power Generation and Distribution, Oil & Gas, Metals & Mining, Medical, Pulp & Paper, Transportation {Roadways, Railways, Airways}, Food & Beverages), by Region (North America, Europe, Asia Pacific, the Middle East & Africa, South America)” in-depth analysis along with the table of contents (ToC).
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