Press release
World Electric Enclosure market expected to grow at a significant rate between 2018 and 2023 , at a CAGR of 6.27%
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 2023Download FREE Sample Report @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=1371629
Key Players: Rittal (Germany), Schneider (France), Pentair (UK), Emerson (US), Eaton (US), Hammond (Canada), Fibox (Finland), Adalet (US), AZZ (US) Legrand (France) are the major industry players in the electric enclosure market.
“Electric enclosure market expected to grow at a significant rate between 2018 and 2023”
The electric enclosure market is expected to grow from USD 6.15 billion in 2018 to USD 7.91 billion by 2023, at a CAGR of 6.27% during 2018–2023. Key factors driving the growth of the electric enclosure market are the development strategies such as product launches and developments, mergers and acquisitions, expansions, agreements, collaborations, joint ventures, and partnerships. However, the major restraining factors for the growth of this market is the high lead times of electric enclosures
“Power generation & distribution application expected to lead the electric enclosure market between 2018and 2023”
Among various applications, the power generation & distribution industry is expected to account for the largest size of the overall electric enclosure market between 2018and 2023. Electric enclosures are required for the housing and protection of electric/electronic equipment from water, ice, oil, and harsh environmental conditions. Electric enclosures enhance the safety of end users and electronic/electric equipment, even in energy-generation stations. Similarly, in power transmission & distribution, electric enclosures are used to keep the circuitry safe from external damage.
“APAC expected to lead the electric enclosure market between 2018and 2023”
APAC is expected to hold the largest size of the electric enclosure market during the forecast period. Key factors driving the electric enclosure market in APAC are the increasing demand for energy & power from residential and commercial sectors and increased focus on automation in the manufacturing sector is expected to drive the market for electric enclosures in the region.
Research Coverage:
The research report on the electric enclosure market covers the market segmented on the basis of the following segments: Mounting type, Form factor, Material type, Industry vertical, and geography. The market has been segmented on the basis of 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 on the basis of material type of metallic and nonmetallic. The enclosure market on the basis of industry vertical has been segmented into power generation & distribution, oil & gas, metals & mining, medical, pulp& paper, food & beverage, transportation, and others.
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