ReportsnReports.com believes the Electric Enclosure Market will reach $7.91 billion by 2023 from $6.15 billion in 2018 at a CAGR of 6.27% from 2018 to 2023. The company claims the market is driven by increasing demand for enclosures from the renewable energy sector, stringent safety and process regulations, which are forcing users to look for enclosures that are compliant to regulations, and increased focus on connected cities in developing regions.
- The major players in the electric enclosure market are Rittal (Germany), Schneider (France), Pentair (UK), Emerson (US), Eaton (US), Hammond (Canada), Fibox (Finland), Adalet (US), AZZ (US) and Legrand (France).
- The APAC expected to lead the electric enclosure market between 2018 and 2023. APAC is expected to hold the largest size of the electric enclosure market during the forecast period.
- The electric enclosure market growth is driven by the development strategies such as product launches and developments, mergers and acquisitions, expansions, agreements, collaborations, joint ventures, and partnerships.
- Major restraining factors for the growth of this market are the high lead times of electric enclosures. APAC will lead the demand for electric enclosures in the power generation & distribution segment during the forecast period.
- The power generation & distribution application expected to lead the Electric Enclosure Market between 2018 and 2023. Among various applications, the power generation & distribution industry is expected to account for the largest size of the overall electric enclosure market between 2018 and 2023.
- The electric enclosure market for underground electric enclosures is expected to grow at the highest CAGR between 2018 and 2023.
The research report on the electric enclosure market covers the market segmented based on the following segments: Mounting type, Form factor, Material type, Industry vertical, and geography. The market has been segmented based on mounting type as wall-mounted, floor-mounted/free-standing, and underground. Based on form factor, the electric enclosure market has been classified into small enclosure, compact enclosure, and free-size enclosures. The electric enclosure market has been further segmented based on material type of metallic and nonmetallic. The enclosure market based on industry vertical has been segmented into power generation & distribution, oil & gas, metals & mining, medical, pulp & paper, food & beverage, transportation, and others.
The breakup of the profiles of primary participants for the report has been given below.
•By Company Type: Tier 1 - 20%, Tier 2 - 55%, and Tier 3 - 25%
•By Designation: C-Level Executives - 50%, Directors - 25%, and Managers - 25%
•By Region: North America - 60%, Europe - 20%, APAC - 10%, and RoW - 10%
For further details, browse portions of the "Electric Enclosure Market by Mounting Type, Form Factor, Material, Industry Vertical (Power Generation & Distribution, Oil & Gas, Metals & Mining, Medical, Pulp & Paper, Food & Beverage, Transportation), and Geography - Global Forecast to 2023" and/or order a copy of the report.