Executive Summary

The global electric enclosure market is expected to grow significantly over the forecast period due to the increasing demand for protection of electronic equipment and the growing trend towards automation and digitization. The market is highly fragmented, with numerous players competing to provide a wide range of enclosures for different industries. The market is also highly competitive, with players investing in research and development to introduce innovative products that meet the changing demands of customers. The Asia-Pacific region is expected to dominate the market due to its growing industrialization and increasing demand for electrical equipment.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

• The global electric enclosure market is expected to grow at a CAGR of XX% from 2021-2028.
• The Asia-Pacific region is expected to dominate the market due to its growing industrialization and increasing demand for electrical equipment.
• The market is highly fragmented, with numerous players competing to provide a wide range of enclosures for different industries.
• Players are investing in research and development to introduce innovative products that meet the changing demands of customers.

Market Drivers

1. Increasing Demand for Automation and Digitization

The increasing demand for automation and digitization across various industries is expected to drive the growth of the electric enclosure market. With the increasing adoption of industrial automation, the demand for electrical equipment is expected to increase, leading to a higher demand for electric enclosures.

2. Growing Focus on Safety and Protection of Electrical Equipment

The growing focus on safety and protection of electrical equipment is another factor driving the growth of the electric enclosure market. The increasing awareness about the importance of protecting sensitive electronic equipment from harsh environmental conditions is driving the demand for electric enclosures.

Market Restraints

1. High Cost of Electric Enclosures

The high cost of electric enclosures is a major factor hindering the growth of the market. The cost of electric enclosures varies depending on the type of material used and the level of protection required. This makes it difficult for small and medium-sized enterprises to afford these enclosures, limiting their adoption.

2. Availability of Low-Cost Alternatives

The availability of low-cost alternatives is another factor hindering the growth of the electric enclosure market. With the increasing demand for cost-effective solutions, some players are offering low-cost alternatives that do not provide the same level of protection as electric enclosures.

Market Opportunities

1. Growing Adoption of IoT and IIoT

The growing adoption of IoT and IIoT is expected to provide significant growth opportunities for the electric enclosure market. With the increasing use of connected devices, the demand for electric enclosures to protect these devices is expected to increase.

2. Increasing Demand for Renewable Energy Sources

The Increasing Demand for Renewable Energy Sources is expected to provide growth opportunities for the electric enclosure market. The growth of the renewable energy industry is expected to drive the demand for electrical equipment, leading to a higher demand for electric enclosures.

Market Dynamics

1. Growing Industrialization in Asia-Pacific

The growing industrialization in Asia-Pacific is expected to drive the growth of the electric enclosure market. The region is witnessing rapid industrialization, particularly in countries such as China and India, which is driving the demand for electrical equipment and thereby, electric enclosures.

2. Increasing Focus on Energy Efficiency

The increasing focus on energy efficiency is another factor driving the growth of the electric enclosure market. With the increasing focus on reducing energy consumption and improving energy efficiency, the demand for electrical equipment and electric enclosures that meet energy efficiency standards is expected to increase.

3. Technological Advancements

Technological advancements, such as the development of smart electric enclosures, are expected to drive the growth of the market. These enclosures are equipped with sensors and other advanced features that allow for remote monitoring and control of equipment.

Regional Analysis

The global electric enclosure market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Among these, the Asia-Pacific region is expected to dominate the market due to its growing industrialization and increasing demand for electrical equipment. North America and Europe are also expected to witness significant growth over the forecast period due to the increasing adoption of automation and digitization across various industries.

Competitive Landscape

Leading Companies in the Electric Enclosure Market:

1. Schneider Electric SE
2. Rittal GmbH & Co. KG
3. Hubbell Incorporated
4. Eaton Corporation plc
5. Pentair plc
6. nVent Electric plc
7. Legrand SA
8. ABB Ltd.
9. Hammond Manufacturing Co. Ltd.
10. Hoffman (a brand of Pentair plc)

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The global electric enclosure market is segmented based on type, material, application, and end-use industry. Based on type, the market is segmented into wall-mounted, floor-mounted, and others. Based on material, the market is segmented into stainless steel, aluminum, plastic, and others. Based on application, the market is segmented into industrial, commercial, and residential. Based on end-use industry, the market is segmented into telecommunications, transportation, oil and gas, energy, and others.

Category-wise Insights

1. By Type

• The wall-mounted segment is expected to dominate the market due to its wide range of applications across different industries.
• The floor-mounted segment is expected to witness significant growth over the forecast period due to its higher protection level and durability.

2. By Material

• The stainless steel segment is expected to dominate the market due to its higher durability and resistance to harsh environmental conditions.
• The plastic segment is expected to witness significant growth over the forecast period due to its cost-effectiveness and lightweight.

3. By Application

• The industrial segment is expected to dominate the market due to the increasing adoption of industrial automation and the growing focus on safety and protection of electrical equipment.

• The commercial segment is expected to witness significant growth over the forecast period due to the increasing adoption of connected devices and the growing demand for data centers.
• The residential segment is expected to witness moderate growth over the forecast period due to the increasing adoption of smart home technologies.

4. By End-use Industry

• The telecommunications segment is expected to dominate the market due to the increasing demand for telecom equipment and the need for protection from harsh environmental conditions.
• The transportation segment is expected to witness significant growth over the forecast period due to the increasing adoption of electric vehicles and the need for protection of electrical equipment in transportation systems.
• The oil and gas segment is expected to witness moderate growth over the forecast period due to the increasing demand for oil and gas and the need for protection of electrical equipment in this industry.
• The energy segment is expected to witness significant growth over the forecast period due to the increasing adoption of renewable energy sources and the need for protection of electrical equipment in this industry.

Key Benefits for Industry Participants and Stakeholders

• Provides a comprehensive understanding of the global electric enclosure market and its trends.
• Provides information on the key drivers, restraints, opportunities, and challenges in the market.
• Provides information on the competitive landscape and the strategies adopted by key players to gain a competitive edge.
• Provides information on the key segments and their future growth prospects.
• Provides insights into the impact of COVID-19 on the market and the strategies adopted by players to overcome the impact.

SWOT Analysis

Strengths:

• Increasing demand for automation and digitization
• Growing focus on safety and protection of electrical equipment
• Technological advancements

Weaknesses:

• High cost of electric enclosures
• Availability of low-cost alternatives

Opportunities:

• Growing adoption of IoT and IIoT
• Increasing demand for renewable energy sources

Threats:

• Economic slowdowns
• Increasing competition from new entrants

Market Key Trends

1. Adoption of Smart Electric Enclosures

The adoption of smart electric enclosures is a key trend in the market. These enclosures are equipped with sensors and other advanced features that allow for remote monitoring and control of equipment.

2. Growing Demand for Weatherproof Electric Enclosures

The growing demand for weatherproof electric enclosures is another key trend in the market. These enclosures are designed to provide protection from extreme weather conditions, such as heavy rain, snow, and wind.

Covid-19 Impact

The COVID-19 pandemic has had a significant impact on the electric enclosure market. The pandemic has disrupted the global supply chain, leading to a shortage of raw materials and components. This has resulted in delays in production and delivery of electric enclosures. The pandemic has also led to a decline in demand for electric enclosures due to the slowdown in industrial activities. However, with the easing of lockdown restrictions and the resumption of industrial activities, the demand for electric enclosures is expected to pick up.

Key Industry Developments

1. In March 2021, Schneider Electric SE launched its new line of EcoStruxure Micro Data Center C-Series enclosures. The enclosures are designed to provide secure and reliable edge computing and support a wide range of applications.
2. In January 2021, Rittal GmbH & Co. KG launched its new range of Blue e+ cooling units. The units are designed to provide efficient cooling for electrical enclosures and support energy-efficient operations.

Analyst Suggestions

1. Focus on Offering Cost-effective Solutions

To overcome the challenge of high cost, players should focus on offering cost-effective solutions that meet the requirements of small and medium-sized enterprises.

2. Invest in R&D to Introduce Innovative Products

To gain a competitive edge, players should invest in research and development to introduce innovative products that meet the changing demands of customers. This can help players stay ahead of the competition and capture a larger market share.

3. Expand into Emerging Markets

Players should consider expanding into emerging markets, such as India, China, and Southeast Asia, to tap into the growing demand for electrical equipment and electric enclosures. These markets offer significant growth opportunities due to their rapidly growing industrialization and increasing adoption of automation and digitization.

Future Outlook

The global electric enclosure market is expected to witness significant growth over the forecast period due to the increasing demand for protection of electronic equipment and the growing trend towards automation and digitization. The market is highly fragmented, with numerous players competing to provide a wide range of enclosures for different industries. The market is also highly competitive, with players investing in research and development to introduce innovative products that meet the changing demands of customers. The Asia-Pacific region is expected to dominate the market due to its growing industrialization and increasing demand for electrical equipment.

Conclusion

The electric enclosure market is a critical component of modern industrial equipment, protecting electrical components from damage or environmental hazards. The market is expected to witness significant growth over the forecast period due to the increasing demand for protection of electronic equipment and the growing trend towards automation and digitization. The market is highly competitive, with players investing in research and development to introduce innovative products that meet the changing demands of customers. The Asia-Pacific region is expected to dominate the market due to its growing industrialization and increasing demand for electrical equipment. Players should focus on offering cost-effective solutions, investing in R&D, and expanding into emerging markets to stay ahead of the competition and capture a larger market share.