Global electrical enclosure market is estimated to grow up to $ 7741 Million by 2024

Electrical Enclosures Market Global Industry Trends, Analysis, Forecast 2017-2024

KEY FINDINGS • The Electrical Enclosure Market is estimated to grow from USD 4630 Million in 2016 to USD 7741 Million by 2024 at a CAGR of 6.72% during the forecast period. • changing lifestyle, increasing income, technological advancements and improvements in innovations are some of the key drivers for the market growth of electrical enclosure.

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MARKET INSIGHTS • The electrical enclosure market is segmented on the basis of Form Factor, Product Type, Material, and Geography. The electrical enclosure on the basis of form factor is segmented into free-size enclosures, small enclosures, and compact enclosures.

• The electrical enclosures on the basis of the product type is segmented into driptight enclosures, hazardous environment enclosure, flame/explosion-proof enclosure, dust-tight enclosures and other enclosure types.

• The electrical enclosure market on the basis of material is segmented into the nonmetallic and metallic enclosure.

• The non-metallic electrical enclosure is further segmented into plastic/ polyvinyl chloride (PVC), polycarbonate, fiberglass, and polyester.

• The metallic electrical enclosure market is further segmented into stainless steel, mild steel, and aluminum. The electrical enclosure on the basis of geography is segmented into North America, Europe, Asia-Pacific and Rest of the world.

• The government regulations on the safety of the end-user, the growth in the trend of process automation and rise in residential and industrial infrastructure are some of the primary drivers for the market growth of electrical enclosure.

REGIONAL INSIGHTS • Asia-Pacific is projected to be the fastest growing region due to financial improvements in the developing economies.

• North America is estimated to grow at a high CAGR due to increasing demand and usage of electrical enclosures in food and beverage industry.

• Europe is estimated to grow during the forecast period due to increasing use of industrial applications in the region.

COMPETITIVE INSIGHTS The leading players in the electrical enclosure market are • • • • • • •

Eaton Corporation (Ireland) Pentair PLC (U.S.) Hubbell Inc. (U.S.) Legrand (France) Rittal GmbH & Co. Kg. (Germany) ABB Ltd (Switzerland) Adalet Inc. (U.S.)

• • • • • • •

Emerson Electric Co. (U.S.) Fibox Enclosures (Finland) Eldon Holding AB (Spain) General Electric (U.S.) Schneider Electric SE (France) Allied Moulded Products (U.S.) ITS Enclosures (U.S.).

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