August 3, 2021

Global Electrical Enclosure Market to Reach US$ 9.45 Bn by 2028

3 min read

According to a new market report published by Acute Market Reports “Global Electrical Enclosure Market  (By Type (Metallic and Non-Metallic Enclosure), By Application (Dust Tight, Hazardous Environment, Drip-Tight, Flame/Explosion, and Others), and By End-use (Industrial, Commercial, Food and Beverage, Energy and Power, Transportation, and Others) – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2020 – 2028”, the global Electrical Enclosure Market is expected to witness steady growth, expanding at a CAGR of 5.5% from 2020 to 2028.

Browse the Global Electrical Enclosure Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2020 – 2028 report at https://www.acutemarketreports.com/report/electrical-enclosure-market

Market Insights:

An electrical enclosure is a cabinet for an electrical system used to mount knobs and switches and prevent users from electrical shock. Since the electrical enclosure housing the electrical equipment is the only part visible to users, the manufacturers focus not only on developing a quality product, but also an aesthetic one. In a few cases, government regulations and standards dictate the characteristics and performance of electrical enclosures used in hazardous environments. The global market for electrical enclosures is moderately matured and is poised to witness steady growth during the forecast period 2020 – 2028. Despite a minor hiccup in investments towards building new facilities or renovating existing facilities in 2020 due to the COVID-19 pandemic, the overall demand for electrical enclosures would remain steady due to its continued requirement.

Competitive Insights:

The nature of the electrical enclosures market varies from region to region. The market in developed economies including Europe and North America is well structured and highly consolidated. On the contrary, the market for electrical enclosures in the Asia Pacific and Latin American countries is relatively unorganized comprising a large number of regional electrical enclosure and cable management manufacturers. The fragmented nature of the market in these regions requires manufacturers to ensure product enhancements and new product launches at regular intervals to remain competitive in the market. Some of the leading, promising, and emerging electrical enclosure manufacturers identified in the research study include General Electric Company (the United States), Emerson Electric Company (the United States), Eaton Corporation Plc (Ireland), Rittal GmbH & Co. KG (Germany), Hubbell, Inc. (the United States), ABB Ltd. (Switzerland), Legrand S.A. (France), Siemens AG (Germany), Eldon Holding AB (Spain), Adalet Inc (the United States), and Schneider Electric SE (France) among others.

Key Trends:

  • Stringent government regulations promoting worker safety at the workplace
  • Rapid industrialization and a growing trend towards process automation
  • Growing demand from food and beverage and energy and power sectors
  • Demand for customized solutions
  • Price competition, especially in the Asia Pacific and RoW markets.

 

Key questions answered in this report

  • What are the current market trends and dynamics in the electrical enclosure market and valuable opportunities for emerging players?
  • Estimated forecast and market projections up to 2029
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which is the largest regional market for electrical enclosure?
  • What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • The worldwide market value of the electrical enclosure market in 2019 and 2020
  • Which are the key trends driving the global electrical enclosure market growth?
  • Who are the leading service providers in the electrical enclosure market worldwide?

About Acute Market Reports

Acute Market Reports is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives.

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