Electrical Enclosures Market Size to surge at 5.4% CAGR and Hit 7980 million by 2023
Category: #reports  By Ashwin Naphade  Date: 2020-03-12
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Electrical Enclosures Market Size to surge at 5.4% CAGR and Hit 7980 million by 2023

As per the growth statistics report Available with Market Study Report LLC, the global Electrical Enclosures market is anticipated to depict a CAGR of 5.4% through 2023, having recorded a valuation of 5840 million USD in 2017. By 2023, the Electrical Enclosures is expected to hit a remuneration of 7980 million USD.

Electrical enclosures protect electrical equipment such as power generators, transformers, and various telecommunication devices and contain electrical components such as knobs, switches, and displays. They are available in various sizes; although broadly, those used for industrial applications are larger than those used in residential areas. This market can be segmented into two groups: enclosures used in the power generation process and those used for transmission & distribution (T&D). This market can also be segmented by the type of material used to manufacture the enclosure into the following categories: plastics, plastic composites, metals, and metal alloys. Plastics typically used for electrical enclosures include acrylonitrile butadiene styrene (ABS), polycarbonate, and styrenic polymers, which can also be reinforced with glass or carbon fibers to increase their mechanical and temperature resistance. PVC was commonly employed for this purpose but its usage has been discouraged as it does not meet modern standards. Among metals and alloys, stainless steel, carbon steel, and aluminum find wide usage. Metal enclosures are sturdier, durable, and offer better protection to environmental elements but are also costlier and difficult to mold compared to plastic enclosures.

Request a sample Report of Electrical Enclosures Market at: https://www.marketstudyreport.com/request-a-sample/1274863?utm_source=Marketsizeforecasters.com&utm_medium=AN

Increasing demand for energy and electricity is driving the global electrical enclosures market. China is likely to be a lucrative market due to the rapid industrialization in this country. Expansion of the electrical enclosures market in developed countries in Europe & North America is projected to be moderate (as power infrastructure is already well-developed in these regions) and driven by the installation of power stations running on renewable sources of energy such as solar and wind energy. The need to upgrade the power infrastructure in emerging countries is likely to propel the market for electrical enclosures in the near future. India, Indonesia, and Nigeria are estimated to invest substantially in the utilities sector in the next decade as several parts in these countries do not have access to reliable sources of electricity. The use of better quality materials to manufacture electrical enclosures is also anticipated to become prevalent in these countries with low-cost materials such as PVC expected to be phased out. Demand for good quality electrical enclosures is high in the oil & gas industry. Other major end-users of this market include the power generation, water & wastewater, and mining industries.

A brief of Electrical Enclosures market with respect to the topographical spectrum:

  • The Electrical Enclosures market report comprises of massive evaluation of the topographical landscape of the Electrical Enclosures market. The regional sphere incorporates the geographies of North America, Europe, Asia-Pacific, South America & Middle East and Africa.
  • Details regarding about the sales acquired by all topographies and their estimated market share is mentioned in the report.
  • The recorded growth rate along with proceeds accrued by each region over the predicted timeframe is present in the report.

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Further information stated in the report:

  • A comprehensive outline of the Electrical Enclosures market includes prominent market that consists of market leaders like Adalet, Allied Moulded Products Inc., Apx Enclosures Inc., Atlas Manufacturing, Attabox, Austin Electrical Enclosures, B&R Enclosures, Bartakke Electrofab Pvt. Ltd., Bison Profab, Bud Industries, Durham Co., Eaton Corp. Plc, Eldon Holding AB, Emerson Electric Co, Ensto Group, Fibox Oy AB, Gaurang Electronic Industries, GE Industrial Solutions, Hammond Manufacturing, Hubbell Inc., Integra Enclosures, Milbank Manufacturing Co. and Penn Panel And Box Co in the report.
  • The report entails an in-depth insight pertaining the product manufactured by the developers along with the product application range.
  • The report enumerates data about the companies based on their market position in the current scenario along with information related to the sales collected by the manufacturers along with the industry share.
  • Data about company’s profit margin along with price models is provided.
  • Crucial information related to the market share obtained by the product segments are included in the report. The product range of market is inclusive of Wall-mounted enclosure, Floor-mounted/Free-standing enclosure and Underground.
  • This study includes details related to sales amassed by the products along with the revenue earned in the predicted time period.
  • The report entails an in-depth insight on the application spectrum of the Electrical Enclosures market. The application landscape is segmented into Power generation & distribution, Oil & gas, Metals & mining, Medical, Pulp & paper, Food & beverages, Transportation and Others. Additionally, the report contains details related to the market share obtained by the segment.
  • Data about the revenue accumulated from the segments along with the estimated sales for the project duration is mentioned in the report.
  • Pivotal insights about the substantial parameters such as the competition trends along with market concentration rate is revealed in the report.
  • The study explains details about the marketing channels adopted by the manufacturers for their products in tandem with the data regarding the traders, distributors, and dealers participating in the Electrical Enclosures market.

For More Details On this Report: https://www.marketstudyreport.com/reports/global-electrical-enclosures-market-2018-by-manufacturers-regions-type-and-application-forecast-to-2023

Some of the Major Highlights of TOC covers:

Chapter 1: Methodology & Scope

Definition and forecast parameters

Methodology and forecast parameters

Data Sources

Chapter 2: Executive Summary

Business trends

Regional trends

Product trends

End-use trends

Chapter 3: Electrical Enclosures Industry Insights

Industry segmentation

Industry landscape

Vendor matrix

Technological and innovation landscape

Chapter 4: Electrical Enclosures Market, By Region

Chapter 5: Company Profile

Business Overview

Financial Data

Product Landscape

Strategic Outlook

SWOT Analysis

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Frequently Asked Questions (FAQ) here :

The overall Electrical Enclosures market was valued at 5840 million USD in the year 2017.
In 2023, the Electrical Enclosures industry is estimated to record a valuation of 7980 million USD.
The Electrical Enclosures market is likely to register a CAGR of 5.4% over the forecast 2018-2023.
Application landscape of Electrical Enclosures market is Power generation & distribution, Oil & gas, Metals & mining, Medical, Pulp & paper, Food & beverages, Transportation

About Author

Ashwin Naphade

Email: [email protected]   

Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interest...

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