According to Stratistics MRC, the Global Electrical Enclosure Market is accounted for $7.7 billion in 2024 and is expected to reach $12.5 billion by 2030 growing at a CAGR of 8.2% during the forecast period.
An electrical enclosure is a cabinet or box designed to house electrical or electronic equipment, such as switches, knobs, and displays, to prevent electrical shock and protect the contents from environmental factors like dust, moisture, and physical damage. These enclosures are made from materials like metal or plastic and are essential for ensuring the safety and longevity of electrical systems, often adhering to standards like NEMA and IEC for performance and protection.
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The Asia Pacific region anticipates rapid growth in the electrical enclosure market, driven by rapid industrialization, urbanization, and infrastructure development. Countries like China, India, and Japan are experiencing significant investments in energy, transportation, and manufacturing sectors, which boost the demand for electrical enclosures. The region’s growing focus on renewable energy projects and smart city initiatives further accelerates market growth, making Asia Pacific the fastest-growing region in the electrical enclosure market.
Some of the key players in Electrical Enclosure Market include Schneider Electric SE, Rittal GmbH & Co. KG, Eaton Corporation plc, Emerson Electric Co., ABB Ltd., Legrand SA, Hubbell Incorporated, Pentair plc, Hammond Manufacturing Ltd., nVent Electric plc, Adalet, Fibox Enclosures, Siemens AG, Eldon Holding AB, B&R Enclosures Pty Ltd. and Bud Industries, Inc.
Key Developments:
In March 2024, Schneider Electric launched the Resi9 Energy Center, a retrofit solution for prosumer homes that integrates with existing electrical panels to enhance safety, efficiency, and sustainability.
In March 2024, US power management company Eaton announced the launch of its new modular data center solution. Eaton’s SmartRack modular data center combines racks, cooling, and service enclosures to withstand up to 150kW of equipment load. The solution is designed for organizations looking to meet the growing demand for edge computing, machine learning, and AI.
In July 2023, Schneider Electric, the global leader in the digital transformation of energy management and automation, today announced the launch of a new modular, flexible solution to add smart panel functionality to standard home electrical systems. This solution, including new Square D™ Control Relays and the Schneider Energy Monitor, offer homeowners nationwide app-based control with easier installation and at a lower cost than current smart panel options.
What our report offers:
– Market share assessments for the regional and country-level segments
– Strategic recommendations for the new entrants
– Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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